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BUSINESS SET UP IN OTHER UAE FREE ZONES

RAKEZ– Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone(RAKEZ) RAK FTZ was established in May 2000, and it has become one of the most popular Free Zones in the UAE. It assists startups, entrepreneurs, SMEs, and industrialists with setting up their business.

The low cost of living and low business expenses and costs attracts investors to the Ras Al Khaimah Free Trade Zone, allowing them to make more money. RAK FTZ has an easy access to the airport and the seaport and also conveniently positioned near Dubai.

Today, it is home to about 13,000 businesses.

RAKEZ FTZ Business Setup

With the guidance of an experienced consultant, the process of setting up a business in Rakez can be done easily, ensuring all requirements are met. This process takes about a week to complete. 

Your application can also be filed at RAKEZ’s foreign offices in India, Germany, and Turkey. RAKEZ is unique in that it allows both Free Zone and non-Free Zone entities to register in Ras Al Khaimah.

In cases, where your application gets rejected due to a major reason, you will be refunded completely.

RAKEZ Business Setup Cost

The cost of a license in RAKEZ FTZ is 8,200 AED with a zero visa consultation. 

Promotions and discount programs are run regularly in this zone. There is also a  25% discount if you register for a three-year plan.

RAKEZ FTZ Residence Visas Corporate Amendments Liquidating a Company in RAKEZ

There are different visa packages ranging from  zero visas to four visas.

Although, health insurance is not necessary for RAKEZ business owners, it will be required for dependants.

For investor's visa, it costs 4,960 AED.

while employee's visa costs 3, 400AED plus a 2,000AED deposit. This is inclusive of medical exams and emirates ID.

The company owners or managers must be present to file the amendments application. You can make amendments any time. 

The cost of company closure is 3,500 AED. It takes 3-4 weeks to liquidate a firm in the Ras Al Khaimah free trade zone.

Before filing for company liquidation, ensure all company visas are cancelled.

Benefits of RAKEZ FTZ Company

  • There is no requirement for a local sponsor.
  • Remote registration is possible (JAFZA Offshore requires presence of min. 2 directors).
  • For the registration of an offshore company, no minimum capital is necessary,
  • Once all paperwork are submitted, the company can be registered in two working days.
  • For “high risk nations,” there is a good chance of getting a single resident visa package (Lebanon, Bangladesh, Egypt and others)
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