RAKEZ Free Zone, Ras Al Khaimah

RAKEZ Free Zone

Our company actively engages with the Ras Al Khaimah Economic Zone – one of the most renowned Free Zones in the UAE. In this section, you will find comprehensive information about the opportunities and benefits offered by this free economic zone.

Name and Website

Ras Al Khaimah Economic Zone, RAKEZ; rakez.com

General Information

RAKEZ is a free zone in the Emirate of Ras Al Khaimah, the northernmost emirate of the UAE. It positions itself as a leading business hub that provides opportunities for start-ups, small and medium enterprises, and industrial manufacturing.

The free zone offers a wide range of business licenses, office and industrial space customised to the needs of resident companies, and a variety of related services — obtaining UAE residence visas, opening bank accounts, accounting, recruitment, and other services.

Within RAKEZ, there are several specialised zones, including three industrial zones (for large-scale and light manufacturing), two business zones (including business centers for companies and freelancers), and an academic zone (for international educational services).

Currently, the free zone unites over 23,000 registered companies.

Specialisation

RAKEZ is a multi-purpose free zone. It is suitable for companies that engage in a wide range of activities. The priority sectors are manufacturing, trade and logistics.

Company Regulations
  • RAKEZ Companies Regulations 2017
  • Operating Rules 2018
Types of Licenses
  • Industrial license (manufacturing, importing and exporting goods);
  • Commercial license (trade in goods and provision of services);
  • General trading license (trade in a wide range of goods);
  • Service license (rendering professional services, including consultancy);
  • E-commerce license (electronic trading in goods and services);
  • Individual/professional license (for one owner with one activity in a specific profession or expertise);
  • Educational license (establishing an education-related institution);
  • Media license (media-related business).

One commercial license can cover up to five activities of one group or two activities of different groups. 

A service license can include up to two activities of any group.

An industrial license gives the right to conduct up to two activities of one group.

Forms of Companies
  • Free Zone Limited Liability Company (FZ-LLC) with 1 to 50 members;
  • Private Joint-Stock Company (PJSC);
  • Public Listed Company (PLC);
  • Branch of a foreign company.
Company Name

The company name must be approved by the Registrar and accompanied by its legal form (full or abbreviated). 

The name cannot be identical to those already in the Register and must not violate the intellectual property laws in the UAE.

Share Capital

The minimum share capital required for FZ-LLC in RAKEZ is AED 10,000.

The minimum capital can be significantly higher for companies engaged in certain activities, for example:

  • Provision of services – AED 50,000;
  • Logistics and transport – AED 100,000;
  • Manufacturing – AED 150,000;
  • Real estate agencies – AED 500,000;
  • Property development – AED 1,000,000.

A company can be 100% owned by foreign shareholders.

Director, Manager and Secretary

A company must have at least one director who must be an individual.

A company manager can be either an individual or a legal entity. The manager can be appointed from among directors, shareholders or company secretaries. The manager’s name will appear in the Register of Companies and in the company’s license.

A company may have a secretary. One person cannot hold the positions of secretary and director.

Physical Office

A company must have a physical office space within RAKEZ appropriate for its size and needs. The free zone offers coworking, dedicated workspaces and various types of offices (furnished or shell & core).

Financial Statements and Audit

Companies in RAKEZ must submit audited financial statements annually within six months after the end of their financial year. The financial statements must be audited by an audit firm approved by RAKEZ.

Taxation of Profits

RAKEZ, like other free zones, is subject to the UAE federal tax legislation. 

A company must register with the Federal Tax Authority for corporate tax and VAT (where necessary) and file tax returns.

A free zone company that meets the requirements for a “Qualifying Free Zone Person” can apply a 0% corporate tax rate on its “qualifying income”.

Annual Renewal

Starting in its second year of existence, the company pays free zone fees for license and immigration card renewal. 

The company’s annual expenses also include office lease renewals, residence visas (as they expire), and corporate service provider fees.

Redomiciliation

The free zone allows inward re-domiciliation.

A foreign company may transfer its incorporation and continue as a free zone company in RAKEZ.

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