RAKEZ – Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone (RAKEZ) was established to oversee and consolidate the specialized zones and clients of both Ras Al Khaimah Free Trade Zone and RAK Investment Authority.RAKEZ is connected to growing markets of the Middle East, North Africa, Europe as well as South and Central Asia.

Advantages of choosing RAKEZ includes:

  1. Freedom to source cost-effective labour
  2. Easy access to supply chain of raw materials
  3. Five major seaports and an international airport
  4. Diversified industry sectors
  5. Over 26% of RAK’s GDP comes from manufacturing

RAKEZ houses more than 13,000 companies in over 50 sectors from more than 100 different countries.

How to start a company in RAKEZ?

Business Types: RAKEZ offers three main options for starting a business, which are: Free Zone entity, Non-Free Zone entity, Offshore

FREE ZONE ENTITY

  • Zero taxation
  • 100% ownership & profit repatriation
  • Access to local market through a local agent
  • No customs duty on re-exported goods
  • Freedom to source labour

NON-FREE ZONE ENTITY

  • Zero taxation
  • Established in association with a UAE partner
  • Direct sales in local market
  • No customs duty for sales in local or GCC markets
  • Subject to UAE labour law

OFFSHORE

  • Company limited by shares
  • Company limited by guarantee
  • Restricted company purposes
  • Segregated company portfolio
  • Unlimited company
  • Transfer of domicile

COST-EFFECTIVE BUSINESS SOLUTIONS

  1. Free zone and non-free zone entity formation
  2. 100% ownership
  3. Wide-ranging business and industrial facilities and value-added services
  4. Connectivity to major logistical hubs and multilane super highways
  5. Accessibility via an international spread of regional offices
  6. Easy access to markets across the Middle East and North Africa (MENA) region, as well as Europe and Asia
  7. Easy access to major logistical hubs including Saqr Port, the largest bulk container port in the MENA region
  8. Close proximity to RAK and Dubai International Airports

RAKEZ includes customized facilities suiting one’s business needs where one has options to choose Flexi facilities with shared workstations, offering startup companies with a low-risk ideal solution.RAKEZ offers a wide range of office types that are perfect for companies looking to build a permanent presence in the market.RAKEZ also provides spacious, customizable warehousing solution for investors dealing in light and heavy manufacturing, storing of goods and general assembly.RAKEZ offers plots of land for industrial, logistical and service industry projects.RAKEZ provides convenient housing for staff and labourers at its industrial zones.

COMPANY SET-UP PROCESS

  1. Customize your package
    • Select your legal entity: Free zone entity, Non-free zone entity, Branches
    • Select your license type: Commercial, Educational, E-commerce, General trading, Individual/professional, Industrial, Media, Professional, Service, Tourism
    • Select your type of facility: Flexi facilities, offices, warehouses, land for development
  2. Submit your documents and proceed with payment
    • Fill out the application form and submit your documents
    • Receive your invoice
    • Proceed with payment
    • Sign legal documents and submit
  3. Receive your business license
    • Receive your licence and other company formation documents
    • Sign your lease agreement and receive your facility key

How to close or liquidate a company in RAKEZ?

Ras Al Khaimah EconomicZoneliquidation process takes about 21 to 30 days. Cancellation of visas is a must before RAKEZ liquidation process is initiated. Cost varies depending on the type of queries to address.

Some documents to consider for liquidation process:

  1. Appointment of Liquidator and Application for liquidation
  2. Original Certificates including MOA, resolutions, solvency statement,
  3. Statement from Auditor with respect to the solvency of the company.
  4. Original bank account closure letter
  5. Notice of Liquidation of the company in One Locally published English Newspaper

Audit of RAKEZ companies:

The companies which are registered with RAKEZ need to get the auditing done through the RAKEZ approved auditors and the audit report is mandatory at the time of renewal of all the industrial licenses.

Spectrum Auditing

is an expert in the Company Formation and Company Liquidation process. Reach us to have a frills free life in your journey in Dubai, UAE. We at Spectrum will assist you in taking care of all the legal procedures involved in the registration and de-registration of your company in Ras Al Khaimah Economic Zone. Reach us today for any kind of assistance, call us at +971 4 2699329 or +971 50 9866466 or email us at info@spectrumaccounts.com to get all your queries addressed. Spectrum, your partner in your success.

 

 

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