RAKEZ Media Zone provides a highly vibrant and flexible business setup environment for media & creative professionals to set up or expand their businesses into Ras Al Khaimah. Controlled by the Ras Al Khaimah Economic Zone (RAKEZ), the RAKEZ Media Zone provides a wide range of activities and well-designed facilities for investors. The environment of business setup in RAKEZ Media Zone is highly conducive for lucrative activities including online game development, media production, TV & radio broadcasting, publishing and other allied activities etc.
Investors need not sweat a lot to obtain a media license in RAKEZ Media Zone as the free zone has set out flexible procedures. The free zone also provides all kinds of business setup services under one roof, which prevents any potential delays in the company registration process. Furthermore, the services of business setup consultants in RAK are readily available to remove any legal roadblocks. The investors only need to know the features, licenses, and benefits of setting up a business in RAKEZ Media Zone. That information can be gathered from here. Read on.
Activities Permitted in RAKEZ Media Zone
The selection of activity is one of the primary steps associated with the process of business setup in RAKEZ Media Zone. It means the entrepreneurs need to check whether their desired activity is available in the list of activities permitted by RAKEZ Media Zone. They can get help from business setup consultants in UAE to check the activity listings. Some of the major business activities in RAKEZ are listed below:
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- Advertising & Communication Agency
- Film / TV / Radio Music Production
- Graphic Design
- Book publishing
- Broadcasting Consultants
- Business Events Management
- Casting Agency
- Content Rights Management
- Corporate Content Provider
- Corporate Publishing
- Costume Design
- Creative Agency
- Design, Scenery, Motion Graphics and Lighting
- Digital and Interactive Game Development
- Digital Content Creation
Facilities for Business Setup in RAKEZ Media Zone
Getting the right facilities for office space, production or storage of goods is paramount to driving the business in the right way. If the facility is inadequate, the business growth will take a back seat as it would affect the daily operations of the company. The facility should match with the nature of business, number of employees, number of visas required etc. If investors feel confused about the facilities, getting help from business setup consultants in RAK is recommended. Here is a list of facilities available for company formation in RAKEZ Media Zone:
1. Land for Development
TV and radio broadcast companies require big plots of land to construct their broadcast units. RAKEZ Media Zone provides huge tracts of land where investors can undertake the construction of their units. Benefits include access to well-paved roads and excellent telecommunication and utility services.
All types of media production companies require warehouses to facilitate the storage of goods. Entrepreneurs can get their hands on customisable warehouses of various sizes starting from 150 meters square. The warehouses can be modified by obtaining prior approval from RAKEZ Free Zone. Benefits include office space inside the warehouse, flexible leasing terms, eligibility for UAE visas, space for loading and unloading consignments etc.
3. Serviced Offices
A serviced office in RAKEZ Media Zone is a permanently dedicated workspace in an enclosed office. The media professionals can share the offices with other like-minded professionals and entrepreneurs. The minimum space available is 3 meters square per desk. Benefits include free car parking, 24-hour security, educated signboards at the entrance etc. Moreover, each company can apply for up to four UAE Residence Visas.
4. Flexi Desk Facilities
Flexi Desks in RAKEZ Media Zone are ideal for startups engaged in media activities. Flexible desk members are eligible to apply for Residence Visas for owners, managers, partners, employees etc. Talk to the business setup consultants in RAK to know further about RAKEZ Flexi Desks.
Types of Companies Permitted in RAKEZ Media Zone
Depending on the number of shareholders, investors are allowed to set up the following types of companies in RAKEZ Media Zone:
Free Zone Limited Liability Company
A Free Zone Limited Liability Company (LLC) can be set up in RAKEZ Media Zone with 1-50 shareholders. With this legal structure, the investors can limit their liability to the extent of their shares in the free zone company.
Branch of a Foreign Company
Companies incorporated outside the UAE can open their branch office in RAKEZ Media Zone. The activities of the parent company and the branch office should not differ. Consult with business setup consultants in RAK to easily open a branch office in RAKEZ Media Zone.
Branch of a UAE Local Company
Companies operating in the UAE are allowed to open their branch in RAKEZ Media Zone. However, the activities of the parent company and the branch should match. Companies operating in other free zones are also allowed to open their branch offices in RAKEZ Media Zone.
Benefits of Setting up a Company in RAKEZ Media Zone
No investor will jump into selecting a free zone without knowing the benefits it offers. By setting up a company in RAKEZ Media Zone, entrepreneurs are entitled to the following benefits:
- A wide range of media-related business activities
- Cost-effective license packages for company formation
- The easy and flexible company incorporation process
- Premium value-added services under one roof
- Dedicated team to provide assistance and business support
- 100% foreign ownership
- 100% repatriation of profits
- Zero corporate and personal tax
- Strategic location
- No customs duty on imports
- Well-built infrastructure and office spaces
- Easy connectivity to major logistic hubs and multi-lane superhighways
- Proximity to Ras Al Khaima and Dubai International Airports
- Eligibility to apply for UAE Residence Visas
- One-stop solution for all government services
- Secretarial & business centre services
Process of Business Setup in RAKEZ Media Zone
The process of company formation in RAKEZ Media Zone is rather straightforward. Since the free zone has a dedicated team to provide all kinds of government services, the approvals will take no time. Investors can obtain a license from RAKEZ Media Zone in the following steps:
- Choose an activity
- Determine the type of company
- Select a business setup package
- Choose a facility
- Submit the documents
- Receive the business license
Documents Required for Company Formation in RAKEZ Media Zone
Investors need to submit the following documents to complete the process of company registration in RAKEZ Media Zone:
- Application form
- Colour passport copy of shareholders, general manager, director
- Visa copy/entry stamp of shareholders, general manager and director
- Original No Objection Certificate for Shareholder(s) / General Manager (if UAE resident)
- Emirates ID copy of Shareholders, General manager
- Memorandum and Articles of Association
- UBO Declaration Form along with passport Copy
Compliance Requirements in RAKEZ Media Zone
Companies incorporated in RAKEZ Media Zone are required to comply with a set of regulations such as Ultimate Beneficial Ownership (UBO), Economic Substance Regulations (ESR) and Anti-money Laundering & Combatting Financing of Terrorism (AML-CFT). Companies undergoing liquidation in RAKEZ Media Zone are also required to comply with these regulations. Any sort of non-compliance will result in hefty penalties, reputation damage and even suspension of trade license. However, business setup consultants in RAK can advise business owners on how to ensure compliance.
Avail of the Best Business Setup Services in Ras Al Khaimah, UAE
The landscape of business setup in RAKEZ Media Zone is highly conducive for media and creative entrepreneurs. However, navigating the complex steps of company incorporation may be a daunting task for new investors. Foreign investors applying through the best business setup consultants in Ras Al Khaimah can easily navigate such steps. Right now, Jitendra Business Consultants (JBC) is the leading provider of business setup services in RAK, UAE.
JBC makes the investors’ job easier by preparing the application form, seamlessly executing the paperwork etc. We will handle the intricate processes such as visa processing, sponsorship of dependents, drafting of MoA, submission of documents, the opening of bank accounts etc. JBC also offer compliance services such as Economic Substance Regulations (ESR), UBO and AML-CFT. JBC has a large team and adequate resources to deliver all kinds of business setup services in RAK, UAE. Our services are marked by efficiency, honesty, dedication, and precision. Contact our business consultants today to set up a company in the right way.