Ras Al Khaimah Economic Zone (RAKEZ)

RAK FTZ was established in May 2000 by an Emiri Decree by His Highness Sheikh Ahmed bin Saqr Al Qasimi.

In April 2017, the government of Ras Al Khaimah has launched Ras Al Khaimah Economic Zone (RAKEZ) to consolidate and operate Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA) pursuant to Law No. 2 of 2017 promulgated by H.H. Sheikh Saud Bin Saqr Bin Mohammed Al-Qasimi, Ruler of Ras Al Khaimah.

Situated in the heart of Ras Al Khaimah in the United Arab Emirates. It is one of the fastest growing and most cost effective free trade zones in the UAE and home to 14,000 multinational companies.

With their reputation for affordability, flexibility and broad geographical reach, RAKEZ is rapidly emerging as the preferred business hub in the region, from which investors, of all origins and industries can easily access and branch into the emerging markets.

Their commitment to simple and customer-friendly procedures is recognized throughout the region. RAK FTZ clients enjoy the widest range of facilities and value added services.

• “Designated Zone” under VAT regulations
• Cost effective business hub
• 100% tax exemption
• 100% foreign ownership
• No restrictions on capital and profit repatriation
• Strategic location, with proximity to Dubai
• State-of-the art communication facilities
• Easy access to Ras Al Khaimah’s airport and sea ports

A RAKEZ company can have a minimum of one shareholder and a maximum of fifty shareholders. Shareholders may be individuals or corporate entities. Further, a manager and a secretary have to be nominated (shareholder can be a manager, director and secretary of the company) who should be a resident of UAE. There should be a minimum of one director, corporate directors are not permissible.

The minimum share capital for a RAKEZ company is AED 1,000/-.

The following types of companies can be set up in Ras Al Khaimah Economic Free Zone:

• New Company
• Branch of foreign and local companies
• Subsidiary

• Commercial Licence: Trading in services and goods
• Educational Licence: Opening an education-related institution or consultancy company
• E-COMMERCE Licence: Trading in goods and services via electronic means
• General Trading: Trading in multiple goods
• Individual / Professional: One owner with one activity in a specific specialty or expertise
• Industrial: Manufacturing, importing, packaging and exporting products
• Media: Operating media-related business activities
• Professional: For individuals who provide professional services
• Service: Conducting services or consultancies across any industry
• Freelancer Permit: For professionals in the fields of media and education

RAKEZ entity shall keep accounting records including underlying documents which are sufficient to show and explain its transactions. Each RAKEZ entity must keep a record of the required particulars of its beneficial owners in a record referred to in these Regulations as the “record of beneficial owners”

RAKEZ provide following facilities:

• Flexi facilities
• Serviced offices
• Standard offices / Executive offices
• Shell & core offices
• Warehouses
• Land for development
• Staff and labour accommodations

 

Beta Consultants provides professional assistance to clients for assessing their business plan and incorporate entities in Ras Al Khaimah Economic Zone (RAKEZ). Contact Us for RAK Offshore company formation.

For more information, please email us at info@betaconsultants.ae