HomeCompany Formation in RAKEZ – Ras Al Khaimah Economic Zone

Company Formation in RAKEZ – Ras Al Khaimah Economic Zone
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Ras Al Khaimah (RAK) is the northernmost emirate of the United Arab Emirates (UAE) approximately 100 kms northeast of Dubai. A strong economy together with a stable political environment makes the UAE a very attractive and safe place for investments of all kinds. The cost of living and doing business in RAK are markedly lower than in other emirates allowing for greater profit margins for investors.

The Ras Al Khaimah Economic Zone Authority (RAKEZ) was established in 2017 building on 17 years of consistent value generated by RAK FTZ and RAKIA. It is the result of an initiative on the part of His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of the Ras Al Khaimah Finance Department to set up the emirate’s free trade zone.

Currently RAKEZ has four fully operational “parks” – The Business Park, Industrial Park, Technology Park and Academy Zone – with plans to develop additional industry-specific sites in the future. Today approximately more than 13,000 companies from 100 countries are enjoying to do their business into Ras Al Khaimah Economic Zone.

Major Benefits of Company Formation in RAKEZ (Ras Al Khaimah Economic Zone):

  • 100% foreign ownership,
  • 100% repatriation of capital,
  • 100% exemption from personal income tax, corporate tax, service tax, import and export tax,
  • Freedom to choose the investment field & legal formula of projects,
  • Customer Portal
  • Diverse range of commercial and industrial facilities
  • Access to superb logistical infrastructure
Characteristics of RAKEZ Company Setup:

Location:

Ras Al Khaimah Economic Zone, Ras Al Khaimah, (U.A.E.)

Proposed activity:

Manufacturing/Trading/Service/Education & Media related activities can be carried out in RAKEZ.

License available:

Industrial/Commercial trading/General trading, Media, E- Commerce, Educational & Service license are available options for RAKEZ – Ras Al Khaimah Economic Zone.

Type of entities:

FZ – LLC (Limited Liabilities Company) and Branch

Shareholder:

Shareholder for Ras Al Khaimah Economic Zone (RAKEZ) Company can be Individuals or Corporate entity (maximum 50)

Director:

Individuals only (Minimum one. Shareholder can also be Director)

Share capital:

AED 10,000/- (10 shares of AED 1,000/- each) in case of FZ – LLC for RAKEZ Setup and AED Nil/- in case of Branch office. (Required to be deposited in bank before or after company incorporation)

Do note that shares are deemed to be issued on company incorporation irrespective of whether share capital is deposited in bank pre or post incorporation.

Audit:

Audit report is required to be filed with RAKEZ.

Estimated time:

1- 2 weeks to obtain trade license of the company and register a company in RAKEZ (Ras Al Khaimah Economic Zone)

Another 7-10 working days for immigration card subject to security clearance & thereafter visa may take approximately 7-10 working days on normal basis.

RAKEZ (Ras Al Khaimah Economic Zone) Company Setup Process:

  • Identify the legal form of company to be registered in RAKEZ
  • Select activity from RAKEZ activity list,
  • Apply for name and initial approval,
  • Payment of fees related to RAKEZ business set up,
  • Sign RAKEZ company registration and incorporation documents,
  • Apply for RAKEZ residence visa.

Documents Required for RAKEZ Company Registration:

The documents required for business set up in RAKEZ (Ras Al Khaimah Economic Zone) depends on whether a shareholder is individual or corporate entity. Basic requirements are

  • Color passport copy,
  • Color UAE residence visa & emirates id copy,
  • CV/Resume,
  • Business plan
  • NOC from current sponsor

To know more about the complete requirements for company formation in Ras Al Khaimah Economic Zone (RAKEZ) call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com

Company Formation Cost in RAKEZ:

RAKEZ Company Setup begins from AED 11,540/-

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in RAKEZ.

Other Notes for RAKEZ – Ras Al Khaimah Economic Zone Company Formation:

  1. Document to be legalized with UAE Embassy in case of corporate shareholder
  2. Shareholder or directors wishing to have UAE residency visa on said company will need to revisit after issuance of license, immigration card and entry permit for stamping of visa on the passport and may need to stay in UAE for 5 to 7 working days as that process may take time.
  3. Company Immigration/Establishment card to be renewed every year
  4. Investors to have family status UAE visa should have share capital of AED 75,000/- and in order to be eligible for Owner/Investor/Partner visa should have share capital of AED 60,000/-

Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in RAKEZ. Our company acts as a one stop solution for RAKEZ company incorporation services.

If you are looking for RAKEZ company setup, please get in touch with us for professional assistance

Call us now on 050-8992852 or drop an email to sagar.mehta@gbsei.com to know about special promotions/offers related to business setup in RAKEZ (Ras Al Khaimah Economic Zone).

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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