RAKEZ (Ras al Khaimah Economic Zone) is a business zone in the UAE. They are part of RAK Free Zone (Ras al Khaimah Free Zone), bringing together different manufacturing and service sector players. This economic zone hosts companies in over 50 sectors drawn from multinational companies. Thanks to the Ras Al Khaimah government, the free zone has customized laws that make it easy to apply for visas, ascertain applicants’ eligibility to start a company and authorize its formation. These progressive laws spur industrial and economic activities.
Companies in the RAKEZ Authority benefit from business-friendly policies that support start-ups, SME’s and industrialisation. A company setup process involves registration which combines the legal and industrial policy documents. There is also a range of licenses to choose from, based on the type of business. Each license is harmonised to cater for a range of services within the sector. The marginal cost of licensing is better as it saves you significant costs in the long run.
Besides the business documents, you also get complete packages on legal documents and company documents such as the VISA, office space and the type of licenses. VISAs and business application happens online, making the setup effective and time saving for foreigners who want to live and do business in Ras Al Khaimah City. Luckily, you can pay in AED, USD or EUR.
Licenses Offered in RAKEZ
Consultancy – it serves the business community that offer capacity building and technical services to the customers within the Free Zone. The consultancy license is one of the most requested in the entire UAE.
Trading – it involves companies that deal with tangible goods. Businesses that require this license include importers, exporters, wholesalers and retailers.
Media – as the eye-openers to the world, the media industry is one of the flagship investment opportunities in the RAKEZ. The Ras Al Khaimah government offers progressive licenses to attract media businesses into the Free Zone.
Industrial – companies who want to build industrial or manufacturing businesses also have a special license. To encourage companies to invest in industrial production, the government offers one of the best license rates in mainland UAE.
Freelance – a professional looking to establish a company without an office, for example, social media marketing and in-person services, must get a freelance license.
Why Use FreeZoneMarket.ae?
- The platform helps process all business documents. It also cuts off all middlemen who increase transaction costs and time used.
- VISAs, eligibility and business acquisition processes are fast and straightforward. You only deal with one platform for all your documents. Furthermore, you can open a business bank account, hire accounting and auditing services and source for a tax agent.
- You can select the type of license for your business, packages and other regulatory activities from the platform.
- Comparing the cost used to get these services with other service providers, FreeZonemarket.ae has the most competitive prices. You pay AED 1000 for accounting services and AED 750 for a tax agent. If you want to install an FTA approved accounting software, you get it at a 15% discount from FreeZonemarket.ae
In essence, the overall cost of doing business in RAKEZ and the free zone through FreeZonemarket.ae is affordable compared to other platforms.