Ras Al Khaimah Economic Zone, or RAKEZ, is among the United Arab Emirates’ most important business hubs. It provides various business solutions and incentives for entrepreneurs wishing to launch their businesses.  

Because of its advantageous location, affordable setup choices, and business-friendly laws, RAKEZ Business Setup is an attractive choice for those looking to establish a business. 

Therefore, JSB Incorporation is your reliable companion in realizing your dreams if you’re an ambitious business owner hoping to launch a successful enterprise in a busy economic center. 

Facts and Figures for RAKEZ Business Setup

• RAKEZ has successfully registered over 14,500 companies, reflecting its growing popularity among investors.
• RAKEZ currently supports nearly 1,000 F&B companies within its economic zone. This includes businesses involved in F&B trading, catering, distribution, logistics, and manufacturing. The participation of RAKEZ in the Gulfood exhibition aims to connect with over 5,500 exhibitors and investors from more than 190 countries, showcasing its commitment to the thriving F&B industry. 
• The UAE has introduced a corporate income tax of 9% for incomes exceeding AED 375,000 (approximately $100,000). However, companies operating in free zones like RAKEZ can still benefit from a 0% tax rate, provided they meet specific requirements. 

Why Setup A Company in the RAKEZ Free Zone

Located in the center of the United Arab Emirates, it provides easy access to worldwide markets, making it an excellent option for companies looking to grow internationally.  

The following are the main reasons for selecting RAKEZ company formation for your business:

• 100% foreign ownership: Unlike many other nations that demand local sponsorship, you have total control over your company.
• Tax-free environment: Benefit from free import and export customs duties, as well as zero business and personal income taxes, which save costs and boost profitability.

• Hassle-free Business Setup: Establishing your business is made simple and quick by streamlined processes, less paperwork, and effective services.
• Strategic location: Because of its advantageous location, the UAE is an excellent place for companies wishing to grow throughout the Middle East, Africa, and Asia. Easy accessibility and effective logistics are guaranteed by the RAKEZ Free Zone’s close proximity to major seaports and airports.
• Modern infrastructure: The RAKEZ Free Zone has top-notch facilities and cutting-edge infrastructure. You may anticipate a favorable environment for your company to flourish, complete with office spaces, warehouses, and cutting-edge IT and telecommunications equipment.

Steps to Setup a Business in RAKEZ Free Zone

RAKEZ Free Zone Company Setup is a clear process, and JSB Incorporation will assist you at every stage. Our professionals will walk through the steps that follow: 

1. Choose your business activity and legal structure

Choose the type of business you wish to start and confirm that it is allowed in the RAKEZ Free Zone. Additionally, choose your company’s legal structure, such as an LLC (Limited Liability Company).

2. Business plan and documentation

Create a thorough business strategy and collect all the paperwork needed to set up the company. JSB Incorporation will take care of all the paperwork, ensuring that you fulfill every legal requirement.

3. Obtain a trade license

After deciding on a business venture, you must apply for a trade license from RAKEZ. There are different types of RAKEZ licenses available. Our RAKEZ free zone business setup advisors will help you obtain your trade license and initial approval.

4. Open a bank account

To make your financial transactions easier, our professionals walk you through the process of obtaining a corporate bank account.

5. Register your company

You must register your business with RAKEZ as soon as you have a bank account and a trade license. With professional business establishment services, the registration process is easy.

6. Visa Application

Provide the required paperwork for visa processing if you need visas for employees or shareholders.

7. Comprehensive Solutions

The RAKEZ business setup in the Free Zone is only the first step in the process. JSB Incorporation gives you access to a wide range of services, including office space rental, PRO services, immigration help, and licensing.

8. Commencing Operations

You can begin running your company in the RAKEZ Free Zone as soon as you get your business license and visa.

Documents Required to Start a Company in RAKEZ Free Zone

Several documents must be prepared and submitted when registering a business in the RAKEZ Free Zone. A list of the necessary documents is provided below:

• Passport copies: All of the company’s managers, directors, and stockholders should have their passports in clear copy.
• Proof of address: Provide proof of your residence address in the form of current utility bills or bank statements.
• Business plan: Create a thorough business plan that details the goals, tactics, and financial projections of your organization.
• No objection certificate: You must get a no objection certificate from your current sponsor if you currently reside in the United Arab Emirates.
• Memorandum of Association: The company’s name, goals, shareholder information, and capital are all listed in this document.
• Specimen signature: All management, directors, and shareholders’ sample signatures should be provided.

Types of Licenses in RAKEZ Free Zone

The following lists the many business licenses in UAE that are accepted in the RAKEZ Free Zone:

• Commercial License: Businesses can trade commodities or offer services, among other commercial activities, with a commercial license. Businesses can work in retail, wholesale, consultancy, and other sectors with a commercial license.
• Service License: Businesses that offer professional services, like consulting, IT, marketing, and legal services, can benefit from a service license. Businesses can provide their knowledge and meet the demands of customers both inside and outside the UAE with this license.
• E-commerce License: RAKEZ provides an e-commerce license for companies engaged in dropshipping, online retail, and other digital commerce activities in response to the growth of online businesses. With this license, business owners can reach clients worldwide and take advantage of the expanding e-commerce sector.
• Media License: RAKEZ provides media licenses to companies in the entertainment and media sectors. Production of motion pictures, broadcasting, publishing, advertising, and event planning are all covered under this license.
• Educational License: Recognizing the value of education, RAKEZ grants educational licenses to organizations that deliver educational services. With this license, businesses can open language institutes, training facilities, schools, and more.

Conclusion

Modern infrastructure, tax-free surroundings, and complete ownership are just a few of the many advantages of  RAKEZ Business Setup. 

Starting as an entrepreneur in RAKEZ is easy: just register, collect the necessary paperwork, and fulfill the requirements. Don’t miss this successful opportunity! 

Book your free consultation call today with the experts of JSB Incorporation and get started with your business setup.