A free company is also known as free trade zone. It consists into economic areas where services are traded with preferential taxes. Such situation is motivating the Ras Al Khaimah Free Zone Company Formation in which international investors are very interested.
In like manner, there the growing of the businesses is being encouraged. In this article, you are going to know more about the Ras Al Khaimah Free Zone Company Formation. Let´s observe:
- The Ras Al khaimah Free Trade Zone
- What is Ras Al Khaimah Economic Free Zone (RAKEZ)?
- Which services does RAKEZ offer?
- Which are the types of RAK Free Zone Business License?
- How is the process for the Ras Al Khaimah Free Zone Company Registration?
- How about the Rak free zone license renewal fees?
- Advantages of the Ras Al Khaimah Free Zone Company Formation
- Which kind of activities do exist there in Rak free zone?
- Ras Al Khimah free zone visa rules
- Why to contact Connect Free Zone?
1. The Ras Al khaimah Free Trade Zone
The location of this region is at only 45 minutes from Dubai. Is represents a very attractive destination for international investors. Ras Al khaimah Free Trade Zone offers customized support services for diverse enterprises. Such possibilities promote the Ras Al Khaimah Free Zone Company Formation.
This place is one of the most important and cost-effective free zones in the region. It offers a friendly environment for the client, situation that is fundamental for any enterprise to succeed.
This zone, for this decade, is going to experience an important development than never seen before. There are operating more than 8000 companies belonging to Middle East, Europe, North America and Asia.
It has been awarded with the “Best Emerging Free Zone” for the second successive year. Ras Al khaimah Free Trade Zone (RAKFTZ) is already known around the world and represents a very developed region. It counts with an infrastructure and hi-tech facilities for the industrial growth.
2. What is Ras Al Khaimah Economic Free Zone (RAKEZ)?
Ras Al Khaimah Economic Zone (RAKEZ) is also within the reaches of Ras Al Khaimah Free Zone Company Formation. Its location is in the heart of Ras Al Khaimah. This place includes five zones: Al Ghail Industrial Zone, Al Hamra Industrial Zone, RAKEZ Academic Zone, Al Hulaila Industrial Zone, and RAKEZ Business Zone.
The Ras Al Khaimah´s government launched RAKEZ in order to consolidate the facilities of the Ras Al Khaimah Economic Zone. Moreover, with this, what is looking for is to have the Emirate’s as an innovation icon. This is being a model for global entrepreneurship and business opportunities in order to motivate the international investors.
It is worth to mention that RAKEZ allows a wide variety of businesses and investors. So, freelancers and international enterprises can carry out diverse type of businesses there.
However, there are four unique Free Zone Parks. The zones include: the Business Park, Industrial Park, and Technology Park & Al Ghail Park. The design of each one is to attend the specific business interests and activities of the investors in the RAKFTZ.
3. Which services does RAKEZ offer?
Thanks to the Ras Al Khaimah Free Zone Company Formation, there are some services for the investors. For that matter, there are: offices, equipped warehouses and land facilities located in different places of the region.
The RAK Business Centre is a free zone facility that gives to the investor attractive opportunities to start a business. Hence the investors can develop their businesses in a comfortable and easier way. There are ready-to-use offices; their furniture is according to the investors’ needs. Moreover, the cost of such locals is reasonable, according to the effectiveness.
Regarding to the companies documentation, the authority of RAKEZ only offers free zone and non-free zone licenses. Also, it gives to its clients an easy access to local markets in the Emirates. That is in addition to the entry to the growing markets in the Middle East, Africa, Europe and Asia.
4. Which are the types of RAK Free Zone Business License?
Many kind of industries function there, such as the related with food, services, technologies, etc. For all of them, the diverse types of license count with some adaptations to ease the acquisition of their benefits.
For such mater, there can be mentioned the following kind of licenses, which are:
- Commercial License, that is for importing, exporting, distributing or warehousing goods.
- General Trading License, whose design is to import, export, distribute or warehousing of goods (general activities).
- Consultancy/Services License, whose use is for multiple kinds of services. There is valid mentioning marketing, academic, logistics, real estate, industrial consulting or management of goods in general.
- Industrial License, whose finality is for importing a wide variety of raw materials. Also, it includes processing, packaging and export of finished and manufactured products.
Learn more about the commercial license for software development
5. How is the process for the Ras Al Khaimah Company Registration?
The Ras Al Khaimah Company Registration includes two branches, such as the following: for Free Zone Companies (FZC) and Free Zone Establishments (FZE). Take in account that the investors also have to follow the Ras Al Khimah free zone visa rules. That is in order to set up any kind of company. Then, the process is as follow:
- First step is to submit the requested documents to the Ras Al Khaimah Free Trade Zones´s Authority.
- Second step is to make the payment of fees.
- After that, it is necessary to open a bank account and deposit or transfer the capital.
- Next, the authority of the Ras Al Khaimah Free Trade Zone reviews the documentation. Then, the correspondent institution will submit the trade license to the investor within 2 to 3 days.
- What follows is submitting the documents to the Immigration Department. So, that institution will issue an entry permit in a lapse of 1-2 weeks.
- Last step consists into a Medical Test. This takes place after the investor gets the visa.
Learn more about the needed documentation for business in Rak Al Khaimah
6. How about the Rak free zone license renewal fees?
It is possible obtaining the free zone license in Ras Al Khaimah through a wide variety of businesses and activities. In like manner, the registration fees have just one time cost. For its part, license fees request a yearly payment, as well as the rent of the land and offices.
The cost for the Ras Al Khaimah license renewal fees is 1,000 AED less than the incorporation. In that meaning, there is worth to mention that for cash payment there is a timeframe of 2-3 days for processing. For cheque payments, the process allows 3 or 4 days to check. And, if the payment is trough international transference, then it requires 3-5 days for processing.
For the license costs, Ras Al Khaimah Free Trade Zone Authority offers campaigns of promotions and discounts. The prices start from 8,000 AED for new foreigners companies. The RAKEZ cheapest license fees are in the following:
| Type of license | Cost |
| Zero visas trading package | 11,440 AED |
| 1 visa individual professional package | 13,468 AED |
| 1 visa trading/service package | 15,868 AED |
7. Which are the advantages for the Ras Al Khaimah Free Zone Company Registration?
For the Ras Al Khaimah Company Registration there are many advantages, which are the following:
- A minimum of one shareholder and likewise only one director is necessary to establish the company in RAK.
- There is possible to have corporate shareholders and there are no limits for the quantity of shareholders.
- UAE takes part of the Double Taxation Avoidance Agreement with more than 90 countries in order to avoid double taxation.
- RAKEZ has a special product for women. This product´s name is “Women in Power” and it offers prices 40% less than the usual ones. So that represents a huge advantage for women who want to stat a business in the region.
- The investors can register a 3-year package, which allows saving money, due to the discount will be 25% in such case.
- All the resident visas under company shall be free of collection.
- The payment for the Ras Al Khaimah license renewal fees is once in a year.
8. Which kind of activities do exist there in RAK free zone?
The Ras Al Khaimah Free Zone Company Formation has promoted the establishment of more than 13,000 international companies. They include more than 100 countries and spans over 50 industries. This region represents a very developed economic zone in the UAE. The activities in the zone comprehend the following categories:
- Commercial
- Service
- Industrial
- Media
- Educational
- Individual / professional E-commerce
Some sectors, such as: manufacturing, services, tourism and trading are experiencing an impressive growing in recent times. Consequently, that makes that RAK has the highest level of industrialization in the Emirates.
For carrying out some activities, it is necessary a company manager with a relevant educational degree. So, it proofs is by a previous certification attested in the UAE Embassy there in the origin country. This is because those activities are related to a professional service, for example: communication, engineering, accounting, etc.
9. Which are the Ras Al Khimah free zone visa rules?
As a result of the Ras Al Khaimah Free Zone Company Formation, UAE is a very popular destination for investors who want to establish their residency or a trading company. However, there are some conditions to carry out such task. Some of the Ras Al Khimah free zone visa rules can be listed as follow:
- The applicants for the free zone visa need an Emirates ID.
- Companies need to have a Free Zone Trade License.
- The employment visa gives to the worker the possibility and the legal right to work in the UAE.
- The workers visa is valid for three years in the free zones. After that, it is necessary to renew it.
- For applying to the labor visa, it is necessary to submit documents, such as: passport copy, educational certificates, etc.
- The partner’s visa is for the investors who develop activities in the free zone as well in the mainland.
- The partner’s visa allows the investors to live in the free zone for three years.
- For visa´s amendment, it is possible to do it just in two cases. Those are: if the applicant has canceled his Residence Visa or is moving within RAKEZ.
10. How can Connect Free Zone help you to set up your company in Ras Al Khaimah Free Zone?
If you have business projects in Abu Dhabi and want to get information for RAKEZ trading licenses, we can assist you. Our helping is in order to assists a wide variety of investors around the world.
We also provide support for opening personal or corporate bank accounts, obtaining the residence visa, etc. Likewise, you can get the best facilities, information and capable personnel that helps your business to grow up.
Would you like to contact Connect Free Zone to help you with your company´s formation process? You can call us at +97143316688 or send an e-mail to contact@connectfz.ae and you´ll talk to one of their representatives that will gladly answer all of your questions.