Top Business Activities Permitted by RAK DAO Free Zone

Ras Al Khaimah Digital Assets Oasis (RAK DAO) holds the unique distinction of being the first and only free zone exclusively designed for the licensing of virtual assets and Web3 companies. At a time when many countries are struggling to carve out regulation for cryptocurrency activities, the launch of RAK DAO in Ras Al Khaimah is a milestone achievement for the UAE government.

The process of business setup in RAK DAO must be carefully handled, given the complex nature of the activity. The RAK DAO free zone offers a variety of business activities under unique licenses.

However, you need to choose the business activity accurately to launch your RAK DAO company properly. Business setup consultants in RAK can help you select the right business activity. In this blog, you can learn more about the top business activities permitted by the RAK DAO free zone:

Business Activities in RAK DAO

RAK DAO is a free zone exclusively designed for innovative activities categorised under Web3 and the virtual assets sector. You can set up a business in RAK DAO in any of the following categories of activities:

• Web3 Consultancy & Services
• Digital Assets Proprietary Trading
• Artificial Intelligence
• Socialfi Projects
• AR&VR
• DLT Services & Software Development
• Digital Assets Mining
• Accelerators, Incubators & Venture Studio
• Gaming, Egaming and Gamefi
• Metaverse
• Non-fungible token (NFT)
• Digital Creator Marketplace Services
• Infrastructure Development
• Tokenization of Real World Assets

What companies can be Set up in RAK?

After selecting the desired activity, you need to choose the type of company you wish to set up in RAK DAO. Business setup experts in RAK can help you make this decision. You can register the following types of companies in RAK DAO:

• Freelance Permit
• Remote Company
• Standard Company

Benefits of Getting RAK DAO License

Opening a company in RAK DAO offers a diverse range of advantages to crypto and Web3 investors. The top benefits of starting a crypto license in RAK DAO license are :

• Ability to choose 170 activities designed for virtual & digital assets
• A-Z Visa services
• Access to key banks through assistance from RAK DAO partners
• Incubation and access to funding
• Opportunities to connect with other Web3 companies, investors and potential partners
• World-class infrastructure
• Easy connectivity
• Simple licensing procedures
• Transparent legislation
• Access to growth opportunities, mentoring, fundraising strategies & funding

Documents for Obtaining a RAK DAO License

The best company formation consultants in RAK can help you prepare documents in line with the rules set out by the RAK DAO authority. Yo need to submit the following documents to open a company in RAK DAO:

For corporate shareholders:

• Certificate of Registration
• Incumbency certificate or the equivalent
• Valid trade license (if applicable)
• Memorandum and Articles of Association or equivalent
• Board/ Shareholders resolution

For individual shareholders (General Manager/ Director/Secretary/UBO/Nominees/Trustees):

• Valid passport copy
• Copy of residence visa (for UAE residents) or entry stamp and signature pages
• Copy of Emirates ID
• Business plan
• Power of Attorney (If applicable)
• Proof of address (if applicable)

Hire the Best Busines Setup Advisers in RAK

Opening an RAK DAO company involves complex requirements and procedures. Handling these processes efficiently  warrants the assistance of experienced business setup consultants in RAK such as Jitendra Business Consultants (Jitendra Business Consultant). We have a team of highly qualified professionals well-versed in the UAE labour laws and immigration laws.

Our expertise may come in handy for you to navigate the complex requirements and procedures set out by free zone authorities such as the RAK DAO. Apart from offering company setup services in RAK DAO, we provide the UAE mainland and offshore business setup assistance. By availing of the services of Jitendra Business Consultant, the investors achieve their business goals with the satisfaction of fulfilling all the regulations and requirements.