Overview of Ras Al Khaimah Economic Zone (RAKEZ)
The Ras Al Khaimah Economic Zone (RAKEZ) is a free zone jurisdiction in Ras Al Khaimah, United Arab Emirates (the northern emirate of UAE). The RAKEZ has effectively become a top draw for global entrepreneurs, with over 100 nations sending businesspeople to set up shop in the RAKEZ free zone. Apart from being a major contribution to Ras Al Khaimah's economic development, RAKEZ is home to over 14,500 businesses from a variety of industries.
RAKEZ provides a favourable company formation atmosphere for freelancers, small and medium-sized businesses (SMEs), and major multinational corporations (MNCs) from more than 50 industries. Entrepreneurs can choose from a choice of licence types for a variety of business operations, as well as additional benefits such as shared workstations and access to renowned business centres with top-notch administrative services and IT/Telecom infrastructure. RAKEZ is dedicated to provide a cost-effective and world-class economic zone with a variety of customisable packages and services, as well as cutting-edge amenities.
RAKEZ, also known as RAS AL KHAIMAH ECONOMIC ZONE, is located in Ras Al Khaimah, one of the United Arab Emirates' seven emirates. It's only a half-hour trip from Dubai.
RAKEZ is a governing entity that built on the success of the RAK Free Trade Zone, which opened in 2000, and the Ras Al Khaimah Investment Authority, which opened in 2005, with over 100 nations and 50 sectors represented.
RAKEZ provides clients and investors with a cost-effective business solution and a world-class economic zone, as well as quick and easy processes and state-of-the-art facilities. RAKEZ's clients can also reach out to them through their business and promotional centres located around the UAE.
Types of License Available in RAKEZ
RAKEZ offers a variety of business licences, including:
- General Trading License: Allows businesses to store, distribute, and import all items in accordance with RAKEZ's norms and regulations.
- Commercial Trade License: Allows the trading of products indicated in the licence, as long as the RAKEZ laws are followed.
- Service License: Allows a registered entity to provide certain services, such as business consulting, legal services, and accounting firms.
- Industrial License: Allows the import of raw materials, the manufacture of certain products, the assembly, exporting, and packaging of finished goods to any country.
Popular Types of Business Activities in RAKEZ
Commercial
Acids and alkaloids trade, agricultural and veterinary pesticides trade, diesel fuel trading, software trading, and many more activities are available to commercial entrepreneurs.
Educational
The free zone area of RAKEZ is home to a bevy of education-related institutions or consultancies. Training institutes or centres for Aviation, Security, Hospitality& Tourism, Banking & Finance, and other types of education-related businesses may be found in RAKEZ. RAKEZ also has educational institutions such as a kindergarten, primary school, vocational school, and a development centre for "mind powers."
E-commerce
RAKEZ offers an E-commerce licence to entrepreneurs who seek to trade products and services over the internet using electronic means. Trading of equipment, foodstuffs, garments, textiles, and presents, Household, professional, and personal items, Jewellery & precious stone e-trading, and so on are among the key e-commerce activities permitted in RAKEZ.
Industrial
RAKEZ is a great place to do business if you're looking to do a lot of manufacturing, importing, packaging, and exporting. Agriculture pesticides, animal feed, infant food, batteries, distilled water, and other products are manufactured by top RAKEZ firms.
Media
RAKEZ is an appropriate free zone for media companies looking for a vibrant setting to launch their creative company. Advertising and PR agencies, graphic design, costume design, production consultancy management firms, music production, distribution, music publishing, and copyright companies are among the key media-related enterprises functioning in RAKEZ.
Why one should Start a business in RAKEZ?
Every free zone in the UAE gives the same privileges, such as 100 percent corporate tax exemption and 100 percent ownership. Aside from such advantages, RAKEZ offers a host of other advantages to investors. RAKEZ has pioneered a slew of business options that cut across industries and societal divides over the years.
Special Company Formation Package for Young Entrepreneurs
RAKEZ has just launched a major programme to promote the entrepreneurial goals of recent graduates and students, called the Special Company Formation Package for Young Entrepreneurs. The Mubader Package is a business startup package that includes a licence, a workspace, and support services for young entrepreneurs. The plan costs AED 650 per month and includes a company licence and shared workstation to help them get started. A commercial licence, an educational licence, an e-commerce licence, a media licence, and a service licence will be issued to final-year students and recent graduates.
Women Entrepreneurs' Business Start-Up Package
The special package for women businesses offered by the Ras Al Khaimah Economic Zone is a first of its type in the UAE. AED 6,200 is included in the bundle, which includes an instalment plan, a free zone licence, a shared workstation, and additional support services. Women entrepreneurs who want to start a business in RAKEZ can select between a 1-year package and a 3-year package.
Businesswomen can take advantage of further benefits such as free use of RAKEZ shared workstations, free printing of business cards, priority tokens at RAKEZ Service Centers, and eligibility for a UAE Residence Visa by picking one of these packages.
Manufacturers' Storage Facilities
RAKEZ provides state-of-the-art warehouses for traders and manufacturing businesses. These customizable warehouses are available in a variety of sizes and can be adjusted after receiving RAKEZ approval. RAKEZ is a significant magnet for traders and manufacturers because to its proximity to retail districts and prominent logistics hubs.
Large-scale industrial development
RAKEZ offers parcels of land for industrial, logistics, and service industry projects to entrepreneurs who seek to start significant businesses. Industrialists can gain the liberty to build their facilities according to their enterprises' demands with RAKEZ permission. Large industrial projects will benefit from well-paved road networks, connections to utility and telecommunication service companies, and easy access to labour and freight handling if they are built on these areas in RAKEZ.
How will Dhanguard assist you?
Ras Al Khaimah Economic Zone (RAKEZ) is an excellent choice for establishing a free zone firm in the UAE since it offers a variety of perks, including special packages for young entrepreneurs, women, and major manufacturing companies. The state-of-the-art facilities in RAKEZ are certain to provide you with the optimal setting in which to start your business. Although the procedure of forming a company in RAKEZ is simple, getting the advice of a business professional can save you time and money by avoiding unnecessary delays and paperwork. Dhanguard can assist you throughout the entire process of establishing a business in RAKEZ since we have a highly qualified staff of business consultants in the UAE.
