The UAE has many business-friendly Free Zones, and the Ras Al Khaimah Economic Zone (RAKEZ) is an economical and strategic option for investors. RAKEZ provides an easy company setup process with reasonably priced business setup packages, so it is the perfect destination for startups, SMEs, and foreign investors.
If you are thinking of setting up a RAKEZ Free Zone Company Setup, the following guide will take you through the necessary steps and costs to ensure that you prepare well for your business trip.
Steps for Setting Up a Company in RAKEZ Free Zone
1. Select Your Business Activity & License Type
The initial step involves selecting your business activity, and depending on this, you can identify the license type. RAKEZ provides:
- Commercial License – For trading activities.
- Service License – For consultancy and professional services activities.
- Industrial License – For manufacturing and production activities.
- Media License – For advertising, publishing, and media-related activities.
2. Choose the Company Structure
RAKEZ offers flexible company structures to accommodate various business requirements:
- Free Zone Establishment (FZE) – Single shareholder company.
- Free Zone Company (FZC) – Multiple shareholders.
- Branch Office – A foreign company may set up a branch in RAKEZ.
3. Select Your Office or Facility Type
Based on your business needs, RAKEZ provides:
- Flexi-Desk & Shared Office – Perfect for startups and freelancers.
- Private Office – Ideal for companies requiring exclusive office space.
- Warehouses & Industrial Spaces – Tailored for manufacturing and logistics businesses.
4. Submit Application & Supporting Documents
To start the company registration, you need to submit:
- Passport copies of managers and shareholders.
- Proof of residence (utility bill or tenancy agreement).
- Business plan (for specific types of licenses).
- No Objection Certificate (NOC) if necessary.
5. Obtain a License & Register Your Company
After your application is processed and approved, you will be issued your business license and company registration certificate. It usually takes 3 to 7 working days.
6. Open a Corporate Bank Account
Once you have your business license, you can create a corporate bank account with major banks in the UAE.
7. Obtain Visas & Residency Permits
If visas for yourself or staff are necessary, you can obtain UAE residency permits from RAKEZ.
RAKEZ Free Zone Company Setup Costs
The fee for establishing a company in the RAKEZ Free Zone varies based on several factors, including business activity, office space, and visa requirements. Here is a general outline:
1. Business License Fees
- Commercial License: AED 11,200 minimum per annum.
- Service License: AED 10,000 minimum per annum.
- Industrial License: AED 15,000 minimum per annum.
2. Office & Workspace Fees
- Flexi-Desk (Shared Space): AED 6,000 to AED 10,000 annually.
- Private Office: AED 15,000 – AED 40,000 annually.
- Warehouse & Industrial Areas: AED 30,000+ annually.
3. Visa & Immigration Fees
- Investor Visa: AED 3,500 – AED 4,500.
- Employee Visa: AED 3,000 – AED 4,000 per visa.
- Medical Test & Emirates ID: AED 1,200 – AED 1,500 per individual.
4. Additional Fees
- Reservation of Company Name: AED 1,000 – AED 2,000.
- Setup of Corporate Bank Account: AED 5,000 – AED 10,000 (bank dependent).
- Trade License Renewal: AED 10,000 – AED 15,000 annually.
Conclusion
RAKEZ Free Zone provides a budget-friendly, flexible, and business-friendly platform for investors and entrepreneurs to set up a company in the UAE. Although setup fees differ depending on business type and office needs, RAKEZ is still one of the most economical Free Zones in the UAE.
If you’re ready to start your RAKEZ Free Zone Company Setup, contact Prolink TFS today for expert assistance!