RAS AL KHAIMAH
RAS AL KHAIMAH
Ras Al Khaimah Economic Zone (RAKEZ) is one of the fastest-growing free zones in the UAE, known for its progressive regulations, strategic location and unique business activities & license packages. The free zone was launched in 2017 by amalgamating two economic zones: RAK Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA). The process of business setup in RAKEZ offers foreign investors an affordable and smooth way to enter the lucrative Middle East markets.
RAKEZ has many packages targeting various lucrative industries including e-commerce, manufacturing, education, online gaming, online tutoring etc. Given these attractive offerings, setting up a business in RAKEZ makes sense for all types of companies including investors, entrepreneurs, SMEs, startups, freelancers etc. RAKEZ attracts demand from all tribes of the business community due to its sophisticated approach to company formation in the UAE.
Starting a company in RAKEZ doesn’t require the investors to spend a fortune or run around bureaucrats. All they need to do is to consult with business setup consultants in the UAE who can show them the right way. Availing of business setup services in the UAE will save investors from non-compliance and wasting time and resources. Here are some valuable insights into the nuances of business setup in RAKEZ. Read ahead.
A Glimpse into the Strategic Location of RAKEZ
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RAKEZ is located in Ras Al Khaimah, which is largely regarded as a cost-effective emirate to live, work and do business. Ras Al Khaimah is easily accessible through land, sea and air and offers smooth connectivity to top business hubs such as Dubai and Abu Dhabi. RAKEZ’s connectivity to key investment hubs is supported by RAK International Airport, multi-lane superhighways and Saqr Port, the largest bulk port in the Middle East.
Apart from that, Ras Al Khaimah’s political security and stability have been mentioned by renowned credit rating agencies such as Fitch Ratings and S&P. The emirate is also known for high-quality yet affordable housing, shopping malls, premier educational institutions and advanced medical facilities etc. Investors who set up a business in RAKEZ can bring their families to the emirate to enjoy high-quality living standards. Business Consultants in the UAE can help the investors in this process.
Types of Licenses Permitted in RAKEZ
Unlike other free zones, RAKEZ is known for offering unique license types. It is important to note that the free zone has introduced specific licenses that allow investors to engage in Sunrise Sector activities. Consult with business setup consultants in the UAE to choose a suitable trade license. The license is given below:
- Commercial license for trading in goods
- Educational license for opening education institutions or educational consultancies
- E-commerce license for trading in goods and services through the internet
- General Trading license for trading in multiple goods
- Individual / Professional license for a single individual owner with activity in a specific field of expertise
- Industrial license for manufacturing, importing, packaging and exporting products
- Media license for operating media-related businesses
- Professional license for individuals providing professional services
- Service license for conducting services or consultancies across any industry
Facilities Provided by RAKEZ Free Zone for Businesses
Choosing a facility that matches the nature of the business activity is the key to the success of any company incorporated in the UAE. The facility is one of the most important parameters that entrepreneurs use to select a free zone in the UAE. RAKEZ offers top-notch facilities at competitive rates for all kinds of industries. Most facilities are customised to the requirements of the investors. The following are the facilities provided by RAKEZ for entrepreneurs:
1. RAKEZ Flexi-desk Options
RAKEZ offers shared workstations that may suit well startups, SMEs and entrepreneurs etc. These desks are furnished and include benefits such as value-added services, advanced IT/telecommunications infrastructure, and eligibility to apply for UAE Residence Visas. Business consultants can assist entrepreneurs to choose the facilities.
2. Office Space Facilities
Investors who want more space can apply for the ready or customisable office spaces in RAKEZ. Office space in RAKEZ is best suited for commercial, service and consultancy businesses. The office space option comes with attractive benefits including value-added services, modern IT/telecommunications infrastructure and the eligibility to apply for UAE Residency Visa.
3. Warehouse Facilities in RAKEZ
Warehouses in RAKEZ are ideal for companies performing activities such as manufacturing, trading, assembly and logistics. Benefits of renting warehouses in RAKEZ include round the clock availability of security & utility supplies, permanent power connectivity, proximity to retail districts & logistical hubs, on-site staff and labour accommodation, easy access to manpower for loading and cargo etc.
4. Land for Development
The land is available for industrial companies in a wide range of sizes. The land will be ideal for manufacturing, logistical and service-industry projects. Security and utility supplies are available 24*7. All the major logistical hubs are nearby and it is easy to access other emirates by land, sea or air. Other key benefits include on-site staff and labour accommodation and well-paved roads at all locations.
Unique Packages for Company Setup in RAKEZ
Investors can apply for unique license packages that make the process of business setup in RAKEZ affordable and flexible. Investors can consult with business setup consultants in the UAE to select the best packages. The top business setup packages in RAKEZ are:
- SME packages starting from AED 8,240
- My Business package starts from AED 11,500
- Businesswoman package starting from AED 6,200
- E-commerce package at 50% discount
- E-gaming package from AED 7,725
- Virtual Education License from AED 10,500
The Best Business Setup Services in the UAE
Business setup consultants in the UAE recommend RAKEZ for foreign investors given the free zone’s strategic location, unique business activities & licenses, affordable business setup packages and modern facilities. Initiating the process of business setup in RAKEZ enables the investors to establish their presence in the Middle East market in a cost-effective way. However, availing of business setup services in the UAE is critical to ensure that the company is opened in compliance with the existing laws.
When it comes to hiring company setup experts in the UAE, look no further than Jitendra Business Consultants (JBC). We provide the most reliable company formation services in the UAE at affordable rates. JBC’s services are equally accessible to sole business owners, individual entrepreneurs, startups, SMEs and even big corporate groups. In terms of affordability and efficiency, there is no one in the industry to match JBC’s business setup services.