RAK DAO Business Setup Made Simple at the RAK Digital Assets Oasis

RAK Digital Assets Oasis, RAK DAO Freezone is the UAE’s premier location for businesses in the Web3, blockchain, and digital assets sectors. Strategically located in Ras Al Khaimah, just a short drive from Dubai, RAK DAO provides a dedicated ecosystem for companies innovating in virtual assets, metaverse technologies, artificial intelligence (AI), online gaming, and other emerging industries. 

As one of the few free zones in the UAE that support cryptocurrency-related activities, RAK DAO is leading the way in finance and technology, making it easy for businesses to set up and grow in a supportive environment. 

This guide will help you understand everything you need to know about RAK DAO Freezone business setup, including its benefits, licensing options, and setup process. 

About RAK DAO Freezone

RAK DAO Freezone is a specialized economic hub designed to support and nurture digital asset companies by providing a regulatory-friendly and innovation-driven ecosystem. It offers to a wide range of businesses, from startups and freelancers to large enterprises involved in blockchain, Web3, and virtual asset management.

One of the key advantages of RAK DAO is its flexible business setup options, allowing entrepreneurs to establish various types of entities, including Limited Liability Companies (LLCs) and freelancer permits. The free zone fosters a smooth registration process, enabling businesses to operate efficiently without unnecessary bureaucratic delays.

RAK DAO’s infrastructure is customized to meet the demands of modern digital businesses, providing advanced facilities, networking opportunities, and regulatory support. With a strong focus on financial innovation and technological advancement, RAK DAO continues to attract global investors and entrepreneurs looking to capitalize on the UAE’s growing digital economy.

RAK DAO Company Formation Process

Company formation in RAK DAO Freezone involves the following steps

Choose Your Business Activities and License Type

Select the appropriate business activity and license type that aligns with your goals. RAK DAO offers Freelance Permits, Digital Nomad Licenses, and Standard Company registrations, ensuring flexibility for all entrepreneurs.

Determine the Legal Structure of Your Business

RAK DAO allows you to register as a freelancer or establish a Limited Liability Company (LLC). Choosing the correct legal structure ensures compliance and smooth operational processes.

Prepare and Submit Required Documentation

RAK DAO requires minimal documentation for company setup. Individuals must provide a valid passport copy, visa details, and a business plan, while companies need to submit incorporation documents and shareholder agreements.

Obtain Your Trade License and Registration Documents

Once the application is approved, you will receive essential registration documents, including the Certificate of Incorporation, Trade License, and Memorandum of Association (MoA), confirming your legal business entity.

Secure Your Establishment Card

The establishment card is a crucial document containing company details, allowing businesses to sponsor employee visas and operate legally in the UAE free zone environment.

Apply for an Entry Permit

If you are outside the UAE, an entry permit allows you to enter and proceed with the visa process. Residents need to update their visa status accordingly before continuing with the process.

Collect Your Emirates ID

After your visa approval, apply for your Emirates ID. This identity card is essential for daily operations, banking, and government transactions, taking around 5-7 working days for processing.

Open a Corporate Bank Account

To start a business in the UAE, opening a corporate bank account is important. It enables smooth financial transactions, secure fund management, and seamless business operations.

Dhanguard will guide you in setting up your business in the UAE—from business guidance and bank account opening to licensing and visa processing. 

Types of Licenses in RAK DAO Freezone

RAK DAO Freezone offers various business licenses personalized for digital asset professionals, freelancers, and businesses. Each license provides unique benefits, allowing entrepreneurs to choose the best fit for their business model. Below are the license types available in RAK DAO:

Freelancer Permit

A Freelancer Permit is designed for individuals operating as independent contractors or solopreneurs in the digital asset space. This license is ideal for professionals engaged in blockchain development, crypto consulting, NFT creation, and other specialized services.

Key Benefits:

• Provides a flexible workspace within the RAK DAO Free Zone.

• Includes eligibility for a UAE residency visa.

• Allows individuals to work as self-employed contractors.

• Low-cost setup with minimal overhead expenses.

Digital Nomad License

The Digital Nomad License is perfect for remote workers, freelancers, and online business owners targeting international markets. This license offers a UAE address, making it easier to establish credibility while working from anywhere in the world.

Key Benefits :

• Includes a virtual office package within RAK DAO Free Zone.

• Enables entrepreneurs to work remotely while maintaining a UAE business presence.

• Best suited for digital entrepreneurs and global professionals.

Proprietary Trading License

A Proprietary Trading License is ideal for entrepreneurs or businesses requiring multiple visas. It supports those involved in digital asset trading and other proprietary business activities within the UAE.

Key Benefits :

• Allows issuance of up to 8 visas for employees or partners.

• Includes access to a shared office space in RAK DAO Free Zone.

• Multi-year license options available with discounted fees.

• Suitable for businesses operating in the UAE digital economy.

Various Business Entity Options in RAK DAO Freezone

RAK DAO Freezone offers flexible business structures to meet diverse operational needs. Entrepreneurs can select the most suitable entity type based on their business scale and growth plans.

Free Zone Company (FZCO)

A Free Zone Company (FZCO) is the most common business structure in RAK DAO, making it ideal for digital asset businesses. It offers 100% foreign ownership, operational flexibility, and the ability to have multiple shareholders. This structure is particularly suitable for blockchain startups, crypto ventures, and fintech companies, providing a strong foundation for innovation and growth.

Branch Office

A Branch Office is an excellent option for international companies looking to expand into the UAE while operating under the parent company’s identity. It functions under the parent company's name, requires no separate share capital, and is ideal for well-established firms searching for entry into the UAE market.

Required Documents for RAK DAO Freezone Company 

Setting up a company in the RAK DAO Freezone is a quick process. Below is a list of mandatory documents required for individual shareholders:

Mandatory Documents

• Passport copies of shareholders and directors.

• A comprehensive business plan outlining digital asset activities.

• Proof of address for all stakeholders.

• Bank reference letter (if applicable).

• Personal Information Sheet or Application Form.

• Three name choices for business registration.

Business Setup in RAK DAO with Dhanguard 

RAK DAO Freezone is a game-changer for businesses in the Web3, blockchain, and digital assets sectors. With its strategic location, flexible licensing options, and entrepreneur-friendly regulations.

Whether you're a solopreneur seeking a freelancer permit, a remote professional needing a digital nomad license, or a business looking to establish an FZCO, RAK DAO provides the ideal ecosystem for innovation and success.

At Dhanguard, we specialize in making your business setup easy by offering expert guidance on licensing, bank account opening, and visa processing. Let us help you unlock the full potential of RAK DAO Freezone and establish your business in one of the UAE’s most promising digital hubs. Contact Dhanguard to get started!