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Ras Al Khaimah Economic Zone – RAKEZ

RAKEZ - the largest free economic zone in the region created to consolidate the Ras Al Khaimah Free Trade Zone (RAK FTZ) and the RAK Investment Authority (RAKIA).

This zone is an ideal platform for a wide variety of economic and commercial activities.  Corporate law provides for various types of business licenses that fully satisfy the business needs in a wide variety of market segments. 

The main purpose of this Government project is to create a favorable business climate for both local and international companies and enterprises. The administration of the Free Zone RAKEZ offers its partners effective solutions and tools that ensure high business profitability.  The economic zone development strategy provides for the active development of potential and stimulation of economic growth.

 

Company advantages in the RAKEZ

 

 - Possibility of registration of a low-cost company with a real office

- Location near two international airports and major seaports

- Possibility of 100% foreign participation

- Exemption from taxes on business income (excluding VAT 5%)

- No restrictions on hiring foreign workers

- High level of confidentiality 

- Possibility to obtain tax resident status

- The company has the right to obtain a resident visa for shareholders and employees

- No customs duties when working with the Gulf countries

 

Types of companies

 

- Free zone limited liability Establishment (FZE) - one member

- Free zone limited liability Company (FZ-LLC) - from 2 to 50 participants

- Individual Establishment - one member

- Limited liability Company (LLC) - from 2 to 50 participants.

 

Types of licenses

 

- Commercial - the provision of services and the goods sale

- Educational - opening an educational institution or consulting company

- E-commerce - electronic commerce in goods and services

- General trade license - trade in several types of goods

 - Individual - one owner with one type of activity in a particular specialty or specialization

- Industrial - production, import, packaging and export of products

- Activities related to the media

- Professional - for persons providing professional services

- Service - the provision of services or advice in any industry.

 

 

Shareholders and management

 

The shareholder / manager must be at least 21 years old. At least one shareholder (individual or legal entity). There are no mandatory requirements for the director.

 

Authorized capital

 

The minimum registered capital is $ 274 / AED 1000. If you select the Industrial license, the authorized capital will be $ 27,398 / AED 100,000.

Confirmation of authorized capital  payment is not required.

 

Office spaces

 

− Flexi Desk

A separate workplace in a common office, with the ability to use no more than 10 hours a week. The customer receives a dedicated phone number, a shared fax number, and a dedicated email address.

− Standard office

− Representative office

 

Visas

 

The number of visas depends on the type of office/ warehouse / piece of land  you choose.

 

Accounting and auditing

 

Each company must keep proper records.  Accounting documents must be kept in the office of

the company.  Auditing is not required.

 

Notes

1. The registration deadline for a company is 3-5 days from the filing date.

2. A personal visit of a shareholder or representative acting on the basis of a power of attorney legalized in the UAE is required.

3. For the Standard and Representative office, a 5% returnable deposit of the rental price for the first year is required.

4. Establishment card is updated every year.

5. If the shareholder is a legal entity registered outside the UAE, his/ her documents are subject to legalization for an additional fee in accordance with the prices established by the authorities at the time of such legalization.

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The specialists of PARUS are always ready to advise you in more detail on all issues regarding the company registration procedure in Ras Al Khaimah Economic Zone.