Business Setup in Ras Al Khaimah (Rak) Free Zone

Ras Al Khaimah (Rak) Free Zone

In 2000, Ras Al Khaimah’s free trade zone was established. These are fast-growing and cost-effective zones in UAE. Today it is home to more than 12000 people and has at least 50 industry sectors in over 100 countries. Compared to other free zones of the Emirates, Ras Al Khaimah’s free trade zone provides incentives at a lower rate. 

Ras Al Khaimah free zone is at a geostrategic location, making it an ideal place for business as it is near fast emerging markets in South East Asia, Europe, and Africa. RaK free trade zone is at a distance of an hour’s drive from Dubai. It has easy access to one of the largest Hulk ports and five more ports. It also provides customized services to its investors.

Rakez Free Zone Company Formation

RAKEZ refers to Ras Al Khaimah Economic Zone. Setting up RAKEZ is a smooth process done under law and procedures. For the document procedures, Clever Corp will assist you with all the necessary documents. With the help of a consultant the process of registration and the further process get easier. 

Benefits of Company Formation in Rak Free Zone

  • Ras Al Khaimah are cost-effective zones 
  • Land costs in RaK free trade zone are cost effective
  • It provides 100% foreign ownership
  • No restriction on foreign exchange transaction
  • Warehousing facility for both UAE and GCC market
  • Transparent, flexible laws and regulations
  • Geostrategic location with access to 1.2 billion consumers
  • International and technological parks of the RaK free trade zone are nearby the seaports and international airports.

Ras Al Khaimah Business Setup Process

1. Choose a business activity

The first and most important thing is choosing your company’s business activity. There are three economic activities: commercial, professional, and industrial. You have to select one of them as a business type for your company. 

It is mandatory to decide on your activities before undertaking any following steps that will decide the type of licence that you require.

In this same time, you have to choose a trade name. Clever Corp formation expert will assist you best in choosing the right activity that fits the best to the activity you have chosen.

The Company name should be of UAE Standard protocol, such as not using any word that could be offensive to others,

2. Decide On The Business’s Legal Form

Among the list above, you are required to choose one business activity. Once a business is decided, the legal work paperwork has to be done according to a chosen one. 

3. Determine the Name of the Business

Once you determined the type of the business, the next thing is selecting the trade name for your business. Clever Corp formation expert will assist you best in choosing the right activity that fits the best to the activity you have chosen.

The Company name should be of UAE Standard protocol, such as not using any word that could be offensive to others,

Once you have determined the type of the business, the next thing is selecting the business’s name. Free zones give a particular set of rules and regulations for different sectors. You must make sure that the name of the company must be under those rules and regulations. The free zone doesn’t allow offensive or profane language or expression that gives any type of preference to any religion. If the name of the owner or founder is included, it must be in total; the initial name of a surname is not permitted. Once the title passes all the criteria, it must be checked that the chosen person may not be registered earlier.

4. Submit Your Application

Once you have decided the Company’s name, and the right activity you want to pursue, now it’s time to make your application. If you have decided to set up a company in Mainland then the Application will be submitted to the Department of Economic Development. However, if you choose to set up your company in Freezone then the application goes directly to the authority of free zone. In most of cases, the Free zones application is submitted through online portal. Clever corp will assist you in arranging all documents and submitting on the portal side which is not quite easy. A business formation expert will guide you throughout the process.

5. Get A Business License

Once all the formalities regarding the Trade name and business activity are done. The Final submission of all the documents will be made on the RAKEZ portal, RAKEZ Freezone will accept and proceed ahead with issuing the licence.

6. Apply For Visa

Visa is an important part required for business in Ras Al Khaimah (Rak) Free Zone. An expert will help in acquiring a visa. The process of applying for a visa in RAKEZ is:

  • – Apply for an establishment card
  • – After that, apply for eChannel
  • – After eChannel, you need to apply for an entry permit
  • – You need a compulsory medical test and application for Emirates ID
  • – The stamping of residency permit in the passport

Ras Al Khaimah Free Trade Zone Parks

They operate in four free zone parks to fulfil the requirements of small, medium, and large businesses.

• Business parks- They have fully furnished office instruments at cost-effective rates. These are helpful for the clients having developed business centres.

• Industrial Parks – These are developed for warehouse and heavy industries

• Technology parks – Technology park is dedicated to light industries, automated manufacturing, and capital-intensive lifestyles, technology park is dedicated.

• Academic zone – These are mainly for an educational organization.

Types Of Trade Licence Available In The Rak Free Zone

  • RaK FTZ consulting and services license and Real estate license.
  • RaK FTZ Commercial Licenses
  • RAK FTZ industrial license
  • RAK FTZ general trading license

How Clever Corp Help In It?

Our company clever corp help you at each step while setting the business.

• After the registration, clever crop provides regular support in legal matters

• Help in getting all types of licenses in all free zone parks

•  Assist in the completion of the registration process.

• Translation of documents and many more.

To discuss more in detail your business plan, reach us today to have a suitable solution for your business dreams. We at Clever corp hold vast experience and our expert advisors are round the clock at your service to understand your idea better and get them into reality. Contact us at +971586412031 or +97145804048 to discuss with our experts at info@theclevercorp.com.

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