Ras Al Khaimah Economic Zone (RAKEZ)
RAK Free Trade Zone was established in the year 2000 and the RAK Investment Authority in the year 2005, and both these free zones were contributing to the development of the emirate of Ras Al Khaimah. But taking the development to the next level, both the authorities decided to merge the free zones in order to expand their economic development, and formed Ras Al Khaimah Economic Zone (RAKEZ) in the year 2017.
RAKEZ provides a platform for local as well as foreign investors to diversify their investment and help them to penetrate local, regional and international markets by setting up a company in the free zone region. Companies in RAKEZ get a strategic location and gain access to many growing markets of the Middle East, South Africa, Europe as well as South and Central Asia.
Advantages of Business Setup in RAKEZ
Setting up a business in RAKEZ has the following advantages:
Business Licenses in RAKEZ
1. Commercial License
Investors can register their trading company under a commercial license in RAKEZ. This license allows an entrepreneur to deal in trading of goods. The company can be registered as a free-zone entity or a non-free zone entity, as per the entrepreneur’s preference.
2. Educational License
An educational license permits an investor to enter into the education business. By registering one’s educational institute under the educational license, an investor can open any kind of education-related company in RAK Economic Zone.
3. E-Commerce License
RAK free zone offers e-commerce license for business owners, through which they can trade their goods and services via an online portal/platform.
4. General Trading License
In order to increase their limit of goods, traders or business owners can register for a general trading license in RAKEZ.
5. Professional/Service License
A professional license is provided to those who are providing professional services in RAKEZ. The owner of a professional company is required to have a specific specialty or expertise. A service license permits its holder to carry out services or consultancies across any industry in RAK free zone.
6. Industrial License
Companies which have their operations in manufacturing, importing, packaging or exporting products can opt for an industrial business license in RAK Economic Zone.
7. Media License
To encourage media related industry and attract more investors for the media industry, RAK Economic Zone issues media license. Business owners who are involved in the production of media-related activities can get a media license for their business.
8. Tourism License
A tourism license is exclusive to tourism-oriented business activities in RAKEZ.
Permissible Legal Entities in RAK Free Zone
RAK Economic Zone has 4 types of legal entities under its authorization:
1. Free Zone Establishment (FZE)
One shareholder or single ownership
2. Free Zone Company (FZC)
2 to 5 shareholders or partnership business
3. Branch of a Local Company
For a branch of a company registered in the UAE
4. Branch of a Foreign Company
For a branch of a company registered outside the UAE
Contact us to set up your business in Ras Al Khaimah Economic Zone (RAKEZ), our team will be glad to assist you!
UAE Corporate Services