Established in 2017 through the merger of the RAK Free Trade Zone (RAK FTZ) and the RAK Investment Authority (RAKIA), the Ras Al Khaimah Economic Zone (RAKEZ) has become a premier hub for business establishment and growth in the United Arab Emirates (UAE). This strategic consolidation has streamlined the company registration process and broadened the range of industries supported, providing a wealth of opportunities for ambitious investors. 

With the UAE’s economic outlook predicting sustained growth in the coming years, RAKEZ offers an ideal environment to capitalize on this potential. Its diverse array of business structures and specialized zones cater to a variety of needs from bustling commercial activities in the RAKEZ Business Zone to specialized industrial expertise in Al Hamra, Al Ghail, and Al Hulaila. Choose Corpin Consultancy for the best RAKEZ Free Zone company set up in UAE – your trusted partner for seamless business establishment and growth. Even academic institutions can thrive within the RAKEZ Academic Zone. Despite the challenges posed by global economic and geopolitical fluctuations, RAKEZ’s robust infrastructure and tax-free environment offer a secure and advantageous foundation for corporate growth. Businesses already established in Dubai can leverage RAKEZ’s strategic location and investor-friendly policies to solidify their presence in the region. Let’s delve deeper into understanding the RAKEZ Free Zone in the UAE. 

RAKEZ serves as a conduit for international business, offering a cost-effective platform with streamlined processes for company formation, visa applications, and operational support. This makes it an attractive choice for startups, entrepreneurs, and established businesses alike. 

Understanding RAKEZ in the UAE 

RAKEZ, a government-driven economic zone established to attract foreign investment and businesses, offers a cost-effective and streamlined environment for companies to set up and operate, making it an appealing option for those looking to expand their reach in the Middle East and beyond. Formed in 2017 by consolidating several RAK Free zones, RAKEZ provides a wide range of services and facilities under one umbrella. With our help, you may easily launch your firm in the RAK Media City Free Zone. Our professional business formation services are geared toward your success. This merger was intended to simplify the business set-up process and cater to diverse industries. Today, it boasts over 13,000 registered clients, representing sectors like trading, manufacturing, and technology. 

Features and Opportunities in RAKEZ 

Since its establishment in 2000, RAKEZ has evolved into a dynamic business and industrial destination, attracting over 12,000 companies from 100 countries. Its unique blend of features and opportunities includes: 

• Tailored Solutions: RAKEZ caters to diverse needs, offering both free zone and non-free zone options across 50+ sectors. Businesses can choose packages that perfectly align with their industry and growth aspirations. 
• Strategic Advantage: RAKEZ’s strategic location bridges the gap between investors and lucrative markets in the Middle East, North Africa, Europe, and South/Central Asia, fostering regional and international connections. 
• Cost-Effectiveness: Streamlined processes, competitive operational costs, and efficient business setup procedures make RAKEZ an attractive choice for businesses seeking an economical springboard. 
• Investor-Friendly Environment: RAKEZ provides a conducive environment with investor-friendly policies, facilitating smooth company formation and supporting businesses at every stage of their development. 

Benefits of Establishing a Business in RAKEZ 

Setting up a business in RAKEZ offers numerous benefits, creating fertile ground for ventures to flourish. Key advantages include: 

Tax Haven: RAKEZ operates under a zero-tax regime, exempting companies from corporate and personal income taxes, leading to significant cost savings and higher profit margins. 

Unrestricted Ownership: Enjoy complete control over your business with 100% foreign ownership permitted, along with full profit repatriation, ensuring unhindered capital flow. 

Trade Facilitation: Streamline your import and export operations with complete exemption from import and export duties within the free zone, fostering efficient international trade and reducing overall costs. 

Cost-Effectiveness: RAKEZ offers competitive operational costs, including flexible setup packages and business-friendly regulations, making it an attractive option for budget-conscious businesses.  

Transparency and Flexibility: RAKEZ’s legal framework is known for its clarity and adaptability, allowing for a smooth business setup process and facilitating quick decision-making. 

Procedures for Business Setup in RAKEZ 

Choosing the Right Business: Selecting the appropriate business type is crucial for growth. RAKEZ offers a diverse range of business licenses and facilities tailored to various industries, making it essential to align the chosen business with the available licenses and facilities. 

Submission of Application and Documents: Applicants need to submit a comprehensive set of documents, including completed applications, passport copies, visa copies, educational and experience certificates (if applicable), and a detailed business plan outlining operations and financial projections. Compliance with the Department of Economic Development (DED) regulations is vital to ensure a smooth application process. 

Receiving Your Business License: Upon successful submission and review of documents, the final step is obtaining the business license, granting legal permission to operate within RAKEZ. The type of license varies based on the nature of the business. 

Corpin Consultancy plays a crucial role in assisting businesses set up in UAE in their RAKEZ setup, providing comprehensive business solutions, including company formation, auditing, and advisory services. Their expertise ensures a smooth and compliant establishment of businesses in RAKEZ, guiding entrepreneurs through the entire process and facilitating seamless communication with relevant authorities.