Start a Business in the RAK Free Zone
Ras Al Khaimah (RAK) is one of the seven emirates of the United Arab Emirates (UAE) and is the largest and capital city of the Emirates of Ras Al Khaimah. You will be surprised to know that it is also the sixth largest city in UAE which ensures great opportunities for an amazing lifestyle as well as starting a business in the country. So, what it holds for your business? Ras Al Khaimah Economic Zone (RAKEZ) is located in the heart of Ras Al Khaimah in the UAE.
It serves as a significant industrial hub for many free zones and non-free zone companies that covers more than 50 business sectors. The RAK offers the best opportunities for all kinds of businesses, whether you are an industrialist, a freelancer, an owner of an SME, or even an established large enterprise.
RAK offers great potential to global investors with a variety of licenses along with customized facilities for your business. The RAK free zone also has some great options for logistics facilities as it lies in close proximity to major seaports, and airports. The business setup in RAK is smooth and transparent. It ensures a streamlined process for the successful launch of your business in the Emirates.
Benefits of Starting Your Business in the RAK Free Zone
Let's have a look at the major reasons why you should start a business in the RAK Free Zone
Cost-effective
Setting up a business in RAK is very cost-effective. The operating cost is quite lower as compared to the other economic zones in the Emirates.
Simplified process
Starting a business in RAK is extremely easy and quick. The requirement of paperwork is minimal, thus saving a lot of time.
Great logistics connectivity
A significant advantage of establishing a business in the RAK free zone is convenient access to adjacent airports and seaports, which can reduce your overall operational costs.
Warehouses of all sizes
With RAK you can get to choose from a wide range of warehouses of all sizes as suited for your business type.
Industrial plots
Big enterprises can opt for large customized industrial plots for better management of massive projects.
100% ownership
RAK offers 100% ownership of the company to foreign investors. This eliminates the need to have a local sponsor.
Steps to Start a Business in the RAK Free Zone
Follow these simple steps to establish your business in RAK Free Zone
Choose your business activity
Start with choosing the desired business activity. Fortunately, the RAK free zone allows you to conduct a wide range of commercial activities. You can choose from commercial, educational, e-commerce, media, and other activities.
Decide a business name
Choosing a business name is an important step in establishing a company in the RAK free zone. You must follow the official standards and follow the processes for naming your corporation.
Choose your requirements
This step includes choosing all the requirements for your business. You can select your appropriate legal entity, business license, and facility in the RAK free zone.
Apply for the license
The next step is to apply for a business license which is a very easy process in RAK free zone. You just need to have your documents ready and you can apply for the license as per your business niche.
Get your visa
After you have completed the license application, you need to obtain a visa to continue with your business setup in the RAK free zone.
Open a bank account
Having a company bank account is essential, and it is best to engage with an expert business setup consultant in Dubai, such as First Ideas Consultancy, to get it done quickly. We have more than 15 years of corporate banking experience that could be an advantage to your corporate banking needs.
Documents Needed to Start a Business in the RAK Free Zone
Below is the list of all the documents that you will need to obtain the business license
Application form
Passport copies
All shareholders
UAE immigration stamps
All shareholders
Business plan
NOC from sponsor
For UAE residents
Bank statements
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