The RAK Free Trade Zone was established in 2000 and the RAK Investment Authority in 2005, both of which contributed to the development of the Emirate of Ras Al Khaimah. But to take development to the next level, the two authorities decided to merge the free zones to expand their economic development and established the Ras Al Khaimah Economic Zone (RAKEZ) in 2017.
Ras Al Khaimah Economic Zone (RAKEZ) offers local and foreign investors a platform to spread their investments and help them enter local, regional and international markets by setting up companies in free trade zones. The RAKEZ company enjoys a strategic location and access to many emerging markets in the Middle East, South Africa, Europe, and South and Central Asia.
Entrepreneurs and foreign investors can avail the below-discussed benefits by starting a business in RAKEZ:
The Ras Al Khaimah Economic Zone provides a wide range of financial and professional business activities. Here are some of the most popular options:
Investors can register their company with RAKEZ under a commercial license. This license allows entrepreneurs to trade goods. Companies can be registered as free zone companies or non-free zone companies, depending on the preference of the entrepreneur.
An educational license allows investors to enter the education business. By registering your educational institution under an education license, investors can find all kinds of businesses related to education in the RAK Economic Zone.
RAK free zone offers e-commerce licenses for business owners where they can trade their goods and services through online portals/platforms.
To increase the limit of their goods, merchants or business owners can register with RAKEZ for general trading licenses.
Professional licenses are granted to people who provide professional services at RAKEZ. A professional business owner must have certain skills or experience. A service license entitles the holder to provide service or advice in any industry in a RAK-free zone.
Companies involved in the manufacture, import, packaging or export of products can choose an industrial operating license in the RAK economic zone.
To promote the media industry and attract more investors to the media industry, the RAK economic zone issues media permits. Owners of companies involved in the production of media-related activities can obtain media licenses for their companies.
The tourism permit is only valid for tourism-oriented business activities in RAKEZ.
RAKEZ is a fertile place to start your business in the United Arab Emirates. You have to follow 3 steps to set up your RAKEZ business
The first step is to choose the right location, facility and license. Choosing the right location, facilities and license will make your business package. This completes 25% of the start-up process for your company.
For this step, MAD Middle East can guide you through all the procedures and company policies created at RAKEZ. To ensure that all requirements are met and all documents are sorted by you, MAD Middle East examines the portfolio following current corporate law. Once you have submitted all the documents, you will receive a notification from the authorities to proceed to the next step, which is a payment of fees. You can choose one of below three payment options:
The final step is to collect your trading license along with your registration kit and bank letter after the registration formalities are completed. You can then start the visa application process.
Starting a company in RAKEZ (Ras Al Khaimah Economic Zone )has its advantages. MAD Middle East can assist you with documentation, permits, visa applications, banking procedures, business registration and other legal documents you may need to start your business. At MAD Middle East, we guarantee that your business can get off to a great start in a cost-effective way. To start your business venture, contact us for help or guidance on starting a business at RAKEZ.