Ras Al Khaimah Economic Zone (RAKEZ)

Company formation in RAKEZ

RAKEZ Free Zone Company Formation

Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA) were merged to Ras Al Khaimah Economic Zone (RAKEZ). It is guided by the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, United Arab Emirates Supreme Council Member and Ruler of Ras Al Khaimah.

The Ras Al Khaimah Free Zone is positioned itself as a fastest growing free zone in the United Arab Emirates. The Free Zone offers highly cost-effective packages with multiple business activties. This Free Zone License is widely accepted in the Commercial Banks in Dubai to open bank account for the company.

Main competitive advantages of Ras Al Khaimah Economic Zone (RAKEZ):

You are able to register Free zone and non-free zone company;
Ownership of 100 %;
Multiple license at no extra cost;
Ability to register a holding company
Availability of on-site staff and labour accommodation
You could receive any kind of services from one free zone
Customer portal
Interconnectivity to logistical hubs and highways
Accessibility via an international spread of regional offices
Access to markets across the Middle East, Europe, North Africa and Asia regions

RAKEZ Zones

RAKEZ BUSINESS ZONE – Trading, service and consultancy businesses.
AL HAMRA INDUSTRIAL ZONE – Manufacturing, industrial projects, trading, assembly and logistics.
AL GHAIL INDUSTRIAL ZONE – Manufacturing, industrial projects, trading, assembly and logistics.
AL HULAILA INDUSTRIAL ZONE – Manufacturing, industrial projects, trading, assembly and logistics.
RAKEZ ACADEMIC ZONE – Schools, universities, institutes, academic consultancy and services.
MEDIA ZONE- Radio, TV, Magazines, Broadcast, Film Production, Events Management, etc.

Type of Licenses in RAKEZ and Minimum Package Cost

Following License Packages are available for company formation in RAKEZ.

PRODUCT NAME	BizStarter 0 VISA	ALL INCLUSIVE 1 VISA	ALL INCLUSIVE 2 VISA	ALL INCLUSIVE 3 VISA	ALL INCLUSIVE 4 VISA
PRICE 1 YEAR	AED 5,499	AED 16,500	Most popular >> AED 20,000	AED 25,000	AED 29,000
PRICE 2 YEAR	–	AED 28,050	AED 34,000	AED 42,500	AED 49,300
PRICE 3 YEAR	AED 15,599	AED 39,600	AED 48,000	AED 60,000	AED 69,600
PRICE 4 YEAR	–	AED 49,500	AED 60,000	AED 75,000	AED 87,000
PRICE 5 YEAR	AED 26,597	AED 61,800	AED 75,000	–	–
PRICE 6 YEAR	–	AED 69,300	AED 84,000	AED 105,000	AED 121,800
RENEWAL PRICE 1 YEAR	Same as Above	AED 16,500	AED 20,000	AED 25,000	AED 29,000
RENEWAL PRICE MULTIPLE YEAR	Same as Above	Same as above	Same as Above	Same as Above	Same as Above

* The All Inclusive Package includes Trade License Fee, Visa Fee, Immigration Card, Medical & Emirates ID Fee.

Office Space Package Fee Details

A perfect choice of start-ups and companies looking at affordable office setup.

PRODUCT NAME	Serviced Office A	Serviced Office B	Standard Office	Executive Office
PRICE 1 YEAR	AED 25,000	AED 34,000	AED 38,000	AED 48,000
PRICE 2 YEAR	AED 42,500	AED 57,800	AED 64,600	AED 81,600
Visa Quota	2 FREE (Lifetime)	4 FREE (Lifetime)	4 FREE (Lifetime)	6 FREE (ifetime)
RENEWAL PRICE 1 YEAR	AED 25,000	AED 34,000	AED 38,000	AED 48,000
RENEWAL PRICE MULTIPLE YEAR	Same as Above	Same as above	Same as Above	Same as Above

RAKEZ Global Product

RAKEZ is offering a Mid-Shore Free Zone Company (combining the benefits of an Offshore and Free Zone) for international investors to set up their company or re-domicilation of an overseas company to RAKEZ.

Under the special Business License Package, it offers a wide range of business activities for the investors to choose. There are Commercial Services, E-Commerce, Media, General Trading, and Industrial License category with co-working, physical offices, warehouses and lease land available.

The company will be based in the RAKEZ Free Zone with eligibility to appoint managers, individual shareholders, and employees to oversee the business operations in UAE.

Exemptions Available

No requirement of the Shareholders to be physically present in UAE for the company registration.
No requirement of appointing a company secretary.
Submission of Audit Report to the Authority is subject to request. For Industrial License it is a mandatory requirement.

Business Package Details

Type of Facility	Shared Workstation	Dedicated WorkStation in Shared Office	Executive Office
Annual Fee (AED)	10,535	15,035	17,035
Visa Eligibility	2	4	6

Benefits of the New Business Package

Following are the benefits of business setup in RAKEZ Free Zone

Remote company setup (no requirement of physical presence & original documents)
Easy registration and renewal process through RAKEZ Portal
Streamlined document attestation, submission and assigning employees & company Shareholders/ Directors via the RAKEZ Portal
Eligibility to hire employees
Selection of facilities like co-working spaces, physical offices, warehouses or land for development
Assistance with the UAE Economic Substance Regulations
Eligibility to apply for UAE Residence Visas and UAE Bank Account (subject to bank’s requirement)
No corporate tax and Access to 100+ Double Taxation Treaties
Company can own a real estate in UAE

Who is it Suitable for?

Holding Companies
Trading and General Trading
E-Commerce
Industrial Manufactures

AURION team of expert will guide you throughout the company formation in RAKEZ. Read more details about other low cost free zones in UAE.

Company Closing in RAKEZ Free Zone

The Company Closing in RAKEZ Free Zone is a step-by-step process that all investors must follow while deciding to close down or terminate the company’s operations. Registered Agents such as AURION can initiate the Company Closing process in the RAKEZ Free Zone. There are certain steps to follow for the closing of a company in RAKEZ.

The company closing application form must be submitted to the RAKEZ Authorities by the Registered Agent on behalf of the investor. The owner must provide a declaration stating the reason for company closure. To initiate the company closing process signed letter must be notarized and submitted to the Free Zone Licensing authority.

In case the owner is out of the country, they can notarize the letter from the UAE Embassy and submit the original letter to the authorities here. Similarly, a holding company or a subsidiary requires a notarized Corporate Board resolution. All the shareholders must sign and details of all shareholders must be included along with the board resolution.

Once, the board resolution is ready, the General manager must resign and clear all the dues relating to the company with the creditors, suppliers, Free Zone authorities, other government bodies, banks, and more. All employee visas must be cancelled and their monthly dues must be settled. Also, there is an exit survey that the authorized signatory must attend as part of the company closing procedure.

Clearance required for the Liquidation

The company must get a clearance certificate from the following Free Zone Departments

RAK Customs ( For owners of warehouses and Land/plots)
Chamber of Commerce ( if applicable)
Environment Protection Department ( For industrial License holders)
Telecommunications provider (Etisalat/ Du)
Federal Electricity and Water Authority
All other miscellaneous dues from the Free Zone Authority

Once, all the clearances are obtained, proceed with the submission of the required documents along with the company closing application form. Then proceed to the payment for initiating the company closing.

Also, before proceeding with the company closing request, ensure the company clears all Visas of the employees. The visa cancellation form must be submitted to the RAKEZ Authority depending on the active visas the company holds.

As the final step, collect the Company Closing letter/ Company Liquidation Certificate from the RAKEZ Authority. Now, the company is legally liquidated from RAKEZ and they won’t be able to conduct any trade or business operations.

PRO Services in RAKEZ

There is a range of PRO Services in RAKEZ that the investor would require as they progress in their business. Aurion being the Registered Agent of RAKEZ Free Zone, will help investors to fulfill their additional business requirements.

The PRO Services in RAKEZ include investor/employee visa processing, license renewals, and cancellations, legal documentation, company document attestation, special approvals, Trade License Amendment, Shareholder Certificate change, Addition of Business Activity, and more.

The Dedicated PRO Agent from AURION will guide you with all the required business support for your business. The investor can obtain the services of our team and we will ensure all your business requirements are fulfilled by us.

Entrepreneurs with frequent requirements for business support such as visa renewals, company document attestation, company document amendments, etc., can request for an Annual Retainer Contract with the Registered Agents such as AURION. The investors will have peace of mind and can operate their company remotely by assigning the PRO Services to the AURION team.

So, to avail the PRO Services in RAKEZ, talk to our expert Business Consultants. They will guide you with the required business support services for your company in the most comfortable way.

Also, learn more about the Annual Retainer Control for availing all the required PRO Services in RAKEZ by entering into an Annual Contract with AURION.