RAKEZ Free Zone Company Setup

The legal forms of RAKEZ companies depend on whether they are incorporated in the free zone areas or non-free zone areas of Ras Al Khaimah Economic Zone. A free zone company in Dubai can have 100 % foreign ownership. A non-free zone company is set up in association with a UAE local partner and is subject to UAE labour laws. The details of different legal forms of RAKEZ companies are tabulated below:

The below-listed options are available for any RAKEZ company with respect to a trade license in Dubai:

• Commercial
• Educational
• E-commerce
• General trading
• Individual
• Industrial
• Media
• Professional
• Service
• Freelance

The commercial and industrial licenses allow a company to function in both the RAKEZ free zone and non-free zone area. The professional license is granted for both free zone and non-free zone areas, based on the nature of the professional activity.

The following documents are required to form a company with Ras Al Khaimah Economic Zone:

• Coloured passport copy / emirates ID (for UAE residents).
• Visa copy and entry stamp (if the person is in the UAE).
• Original no objection certificate for general manager (for UAE residents).
• Business plan.
• Shareholders resolution resolving establishment of RAKEZ company and appointment of general manager (for corporate shareholder).
• Trade license / certificate of registration of existing business (for corporate shareholder).
• Memorandum and articles of association (for corporate shareholder).
• Certificates of good standing or certificate of incumbency (for corporate shareholder).

Can’t find a worthy office for your RAKEZ company? Help us help you by reading this article.

Well, it is mandatory to lease an office space for your RAKEZ company. Multiple office options can be scanned and analysed before you finally settle on an office that is suitable for your RAKEZ company, and at the same time does not burn a hole in your pocket.

A certain number of fixed visas are allocated for each office options. Therefore, the first and the foremost parameter that one should consider while finalising an office space is the number of visas, they hope to obtain on their RAKEZ company. Having put a pin on this, one should move on to considerations such as space, flexibility, privacy and additional facilities. One should also be mindful that the nature of an office space depends on type of the RAKEZ company license and not all office options are available for all licenses. To ease your decision, we have categorised below different office options that you can choose from to set up an ideal office for your RAKEZ company:

Flexi Desk:

This is an affordable workstation mostly for any business that is just starting and does not intend on getting multiple visas. It is also an attractive option for freelancers operating solo. With a flexi desk you can get up to (1) visa. RAKEZ offers two (2) flexi desk options being: ‘Felxi Desk BC’ and ‘Flexi Desk’, and the visa allocation for each flexi desk option is different. Zero (0) visa are allocated with ‘Flexi Desk BC’ while you can apply for one (1) visa if you choose a ‘Flexi Desk’. Companies with commercial, services and freelancer permits can choose this option.

Flexi Office:

A felxi office is a shared office in a large co-working space. Up to two (2) visas are allocated if you opt for a flexi office for your RAKEZ company. One also gets access to facilities such as meeting rooms, event spaces, cafes etc. The additional benefits of a flexi office include unlimited usage of open workspace, free usage of lockers and free access to RAKEZ hosted events. Flexi offices only cater to freelancers or companies with commercial or service trade license in Dubai.

Serviced Office:

A suitable option for small companies looking to lease a dedicated workspace for their staff. Your staff will be given a dedicated workspace in an enclosed office. They will be sharing the room with other like-minded companies. A serviced office comes with up to four (4) visa allocations. Depending upon the visa allocations and size of the office, serviced offices are categorised into ‘Serviced Office A’ and ‘Serviced Office B’. Up to two (2) visas are allocated for ‘Serviced Office A’ and up to (4) visas are allocated for ‘Serviced Office B’. You also get a dedicated signboard of your RAKEZ company’s name at the office entrance. Serviced offices can be opted by companies having commercial, services, educational, e-commerce, general trading, professional and media license.

Executive Office: If you require up to (6) visas, a private office space in a developed facility, and a bigger space for your staff and clients then choose an executive office. Please be mindful that the executive office is only given to companies having commercial, services or general trading license. The executive office is a desirable fit for small to medium sized companies. RAKEZ also offers furniture for an executive office at an additional cost.

The fee for any office can either be paid annually or in a consolidated manner for three (3) years. Click here to see our RAKEZ company formation packages that are inclusive of the office cost. If you are still unable to decide an office space that is right for you, then contact us. Our business setup consultants will help you finalise and apply for a suitable office that will aid the operation and growth of your RAKEZ company.

Being a female in a middle eastern country such as the United Arab Emirates has its perks. With the evolution of gender equality, women these days have all the advantage at the palm of their hands. Women have been successful in reaching their dreams of being a girl boss by starting flourishing businesses in the UAE.

In August 2019, Ras Al Khaimah Economic Zone, which is mostly known as RAKEZ pledged to take the idea of women empowerment forward by launching a special businesswomen package. Interestingly, RAK EZ launched these packages on the Emirati Women’s Day. The specially designed packages include exclusive deals for women, who want to step up their game in the business industry by incorporating their very own company. The packages for women allow company formation at subsidized rates and in installments.

The businesswomen packages include all the benefits of a RAKEZ company formation. Women setting up companies under the businesswomen packages will be benefitted in the following ways:

1. Company Set-up at a Low Cost

Women can set up their dream company with RAKEZ at a very affordable cost starting from AED 6,280. Under these packages, women can also use an office desk for an unlimited time for three (3) months. Normally with other free zones, the flexi desk usage is limited.

2. Pay in Instalments

Another great benefit with these packages is that women can pay for the company set up in installment, and as per their convenience. RAKEZ has several instalments plans for payment staring from three (3) months onwards.

3. Zero Balance Bank Account Exclusively for the RAKEZ Businesswomen Package

RAKEZ only gives this offer exclusively to women. This is a huge advantage from a businesswoman’s perspective. Women can open a zero-balance business account for their company with RAK bank. The bank account can be opened in multiple currency denominations. This account can be opened without going through the hassle of going back and forth with a bank for their approvals.

4. Priority Ticket at One Stop Shop (OSS) Centers of RAKEZ

Patience is indeed a virtue, but when you are offered a priority ticket at a RAKEZ one stop shop center, it is certainly something you cannot pass on. The service requests of women are taken on a high priority basis. Again, this advantage is also exclusively for owners of companies formed under the RAKEZ businesswomen package.

5. Business Card Printing Free of Charge

Depending on the specific pack you opt for under the businesswomen packages, women will have the advantage of free printing of their business cards (in any design they wish for!).

We know that by this time you are quite impressed with the benefits of the businesswomen package. Here is what you need to additionally know to form a company using the businesswomen packages:

1. Packages are only applicable to new clients opting for shared workstation / office space with a free zone license.
2. A company can only be formed under these packages if it is fully owned by women. Women are required to have 100% ownership of the company.
3. Women can choose the following type of licenses for their RAKEZ company:
   • Commercial license
   • Educational license
   • E-commerce license
   • Media license
   • Professional license
   • General trading license
   • Services license
4. Packages can be upgraded and downgraded if the eligibility remains intact.
5. The renewal cost for the second year would be AED 1,000 lesser than the company set-up cost.
6. Women entrepreneurs can have zero to six (0 to 6) visas with their RAKEZ company.
7. There are various office spaces that women would wish to lease for their RAKEZ company. The following options are available:
   • Flexi Desk
   • Flexi Office
   • Service Office
   • Executive Office

If you wish to know more about the options for workspace then click here.

If you require more information about all these packages, give us a call or leave an enquiry on our website. If you wish to start your own business, then click the order button to form your RAKEZ company.  We would be happy to help you.