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Ras Al Khaimah’s Economic Zone (RAKEZ) has quickly become one of the top choices for businesses operating in the UAE. Conceived through merging two successful free zones – RAK Free Trade Zone and RAK Investment Authority – RAKEZ offers numerous benefits to companies looking to do business in its region.
This blog will examine what makes RAKEZ unique, including its affordable setup costs, variety of business licenses available, and benefits to business owners. If you are expanding into the UAE or looking for more budget-friendly free zones, this guide provides an excellent introduction to RAKEZ.
What is RAKEZ?
Located in Ras Al Khaimah, the Rakez free zone is a major business center in the UAE. With a focus on efficiency and environmentally friendly practices, RAKEZ supports a wide range of industries. It’s a great place for businesses of all sizes, from freelancers and startups to large industrial companies.
RAKEZ is divided into six specialized zones, each offering tailored solutions for different business types:
1. Al Ghail Industrial Zone
The Al Ghail Industrial Zone is ideal for companies requiring space to conduct major manufacturing projects. The zone allows you to set up either as a RAKEZ-free zone or a non-free zone business, offering the option of establishing your own business structure.
Key Features and Benefits:
- Large plots of land: Land plots that are secure start at 5,000 square meters, which is enough space for your business.
- Workplace accommodations on site: You can build or lease accommodation for your employees.
- Visa support: You are eligible to obtain Residence Visas for employees and investors, making it easier to take the first step of attracting your team.
2. Al Hamra Industrial Zone
The Al Hamra Industrial Zone is a fast-growing RAKEZ hub designed to accommodate heavy and light industrial projects. It allows you to set up your business as a RAKEZ-free zone or non-free zone business.
Key Features and Benefits:
- Customizable land plots: Secure the land starting at 5,000 square meters, which will give you a solid foundation for your company.
- Warehouses that can meet your needs: Choose from warehouses ranging between 150 square meters to huge 10,000 square meters.
- Work housing choices: Hire existing facilities or build your own facility on-site to house your employees.
- Office solutions: Find the perfect office space, with small – up to mid-sized office spaces to pick from.
- Visa support: Ineligibility of residence visas to employees as well as investors, which makes the procedure to RAKEZ.
3. RAKEZ Academic Zone
RAKEZ Academic Zone has been committed to attracting elite schools and other service organizations. It aims to provide the best education, training, and professional development for Ras Al Khaimah, the UAE, and the entire Gulf region.
Key Features and Benefits:
- Cost-effective solutions: The RAKEZ team is aware of the requirements of schools and universities and offers affordable packages that will help you reduce expenses.
- Multi-facilities: Choose the ideal space that will meet your needs, whether it’s a workplace for help, a pre-built structure for a brand new university, or land to build a K-12 school.
- Visa assistance: Eligibility for visas for owners, managers, staff, or even students at higher education institutions.
4. Al Hulaila Industrial Zone
If your business is focused on industrial manufacturing on a massive scale, Al Hulaila Industrial Zone is the ideal RAKEZ solution. The zone lets you start your business as a free zone company.
Key Features and Benefits:
- Expanded land plots: Land starts at five thousand square meters, which gives you the space needed for large projects.
- Flexible warehouse options: Select the most suitable warehouse space that ranges from a mere 150 square meters to 10,000 square meters.
- On-site labor housing: Build or rent accommodations for your employees, ensuring they are comfortable.
- Office solutions: Find the ideal office setup with small – to mid-sized offices to pick from.
- Visa support: Eligibility to Residence Visas on behalf of employees and investors, making it easier to manage relocating.
5. Al Nakheel Business Zone
The Al Nakheel Business Zone is an energetic hub within RAKEZ specifically designed for startup entrepreneurs, freelancers, as well as small and medium-sized companies (SMEs). It has top-of-the-line business centers providing a welcoming and professional atmosphere to help your business grow.
Key Features and Benefits:
- Perfect for commercial and service Companies: Ideal for various industries that concentrate on trade, consulting, and other forms of service.
- Flexible workspaces: Choose between workspaces that can be part of shared (“flexi desks”) or private offices (“flexi offices”) to find the best configuration appropriate for your needs.
- Office solutions: Find the perfect office space with small or medium-sized offices you can choose from.
- Visa support: The eligibility to obtain UAE residence visas for investors and employees will ease setting up your company in the UAE.
6. Al Hamra Business Zone
Al Hamra Business Zone is a business space offering access to commercial, industrial, and logistics centers, complemented by entertainment and residential amenities. It offers an enviable working environment away from the city’s center but still provides convenient access to transport hubs, services, and residential zones.
Key Features and Benefits:
- Effective solution: RAKEZ knows and is conscious of the necessity for cost-effective, efficient solutions and offers a variety of plans that compete to reduce costs for your company.
- Flexible workspaces: Select shared workspaces (“flexi desks”) and private offices (“flexi offices”) to decide on the most appropriate arrangement for your team.
- Office solutions: Find the perfect office space with small to mid-sized office spaces.
- Visa support: The eligibility to apply for Residence Visas for managers, investors, employees, workers, and even employees. This will help streamline your company’s transition to RAKEZ.
- Different licenses: RAKEZ has an extensive array of licenses to ensure you can pick the best one to meet your needs as a business.
Types of Licenses Offered by RAKEZ
RAKEZ offers a variety of licenses to support different business activities. They provide both Free Zone and Non-Free Zone options for certain license types.
Free Zone Licenses
- Commercial
- Educational
- E-commerce
- General Trading
- Individual/Professional
Non-Free Zone Licenses
- Commercial
What’s the Difference?
- Free Zone Licenses: Offer benefits like reduced taxes, simplified regulations, and often 100% foreign ownership.
- Non-Free Zone Licenses: Follow standard UAE commercial regulations. These may be necessary if your business requires you to interact extensively with mainland UAE markets.
Benefits of Setting up a Company in RAKEZ
Choosing RAKEZ for your business offers several key advantages:
- Cost-Effectiveness: RAKEZ is known for competitive pricing, making it a smart choice for budget-conscious businesses.
- Strategic Location: RAKEZ’s position provides easy access to transportation hubs and highways, perfect for connecting with regional and global markets.
- International Reach: Branch out with convenient access to RAKEZ’s network of regional offices worldwide.
- Customer Support: Use their online customer portal for streamlined assistance and information.
- Efficient Setup: The business setup process in RAKEZ is designed to be quick and user-friendly.
- Flexibility: Choose from various business activities and facility types, ensuring the perfect fit for your company’s needs.
Ras Al Khaimah Economic Zone (RAKEZ) Costs
RAKEZ understands that starting a business can involve tight budgets. That’s why they offer competitive pricing, with packages starting at just AED 11,500. However, the exact cost for your business will depend on factors like your chosen license type, facility needs, and other requirements.
How to Start a Business in RAKEZ
Setting up a business in RAKEZ is a straightforward process. Here’s a breakdown of the key steps:
1. Determine Your Business Scope
Begin by carefully defining your company’s core activities. This will inform the optimal license type, legal entity, and facility requirements within RAKEZ.
2. Prepare and Submit Your Application
Compile the required documentation and submit your application for a RAKEZ business setup. Partnering with a business setup consultant like Business Setup Consultants DMCC can streamline this process.
3. Receive Your License and Begin Operations
Upon approval, you will receive your official RAKEZ business license and registration documents. This allows you to commence operations and, if necessary, initiate the visa application process for your team.
Let us help you Start your Company!
RAKEZ can be an incredible location to launch your business, yet the setup process can seem daunting. That’s where Business Setup Consultants DMCC comes in; as experts on RAKEZ regulations, licenses, and facilities, we ensure that you make informed choices from day one. Our experts handle the paperwork while leading you step by step towards an effortless launch backed by experience and connections in RAKEZ.
FAQs
What is RAKEZ?
RAKEZ stands for Ras Al Khaimah Economic Zone. It is a major business center in the UAE, offering various benefits and solutions for companies across different industries.
What are the advantages of setting up a business in RAKEZ?
Setting up a business in RAKEZ offers several advantages, including cost-effectiveness, strategic location, international reach, customer support, efficient setup process, and flexibility in choosing business activities and facility types.
What types of licenses does RAKEZ offer?
RAKEZ offers a variety of licenses to support different business activities. These include Free Zone licenses such as Commercial, Educational, E-commerce, General Trading, and Individual/Professional licenses, as well as Non-Free Zone licenses for Commercial activities.
What is the difference between Free Zone and Non-Free Zone licenses in RAKEZ?
Free Zone licenses typically offer benefits like reduced taxes, simplified regulations, and often 100% foreign ownership. On the other hand, Non-Free Zone licenses follow standard UAE commercial regulations and may be necessary for businesses requiring extensive interaction with mainland UAE markets.
What are the costs associated with setting up a business in RAKEZ?
RAKEZ offers competitive pricing for business setup packages, with costs starting at just AED 11,500. However, the exact cost for your business will depend on factors such as your chosen license type, facility needs, and other requirements.
How can I start a business in RAKEZ?
Starting a business in RAKEZ is a straightforward process. You need to determine your business scope, prepare and submit your application, and upon approval, receive your official RAKEZ business license and registration documents to commence operations.
How can we assist with setting up a business in RAKEZ?
Business Setup Consultants DMCC can help navigate the setup process in RAKEZ by providing expertise on regulations, licenses, and facilities. They handle paperwork and guide you step by step towards a seamless launch, leveraging their experience and connections within RAKEZ.
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