Скачать или смотреть What Is Rakez Business Setup Process?

RAKEZ is an economic free zone located in Ras Al Khaimah, one of the seven Emirates of the United Arab Emirates (UAE). It offers an attractive business environment with numerous benefits for investors and entrepreneurs, including corporate tax exemption, 100% foreign ownership, and ease of doing business.

Before diving into the process, it is essential to understand the different types of business entities that can be established in RAKEZ. The economic zone offers various company structures, including free zone establishments (FZEs), free zone companies (FZCs), non-regulated entities, and special purpose companies (SPCs).

Steps To Set Up Business Setup Process In RAKEZ
1. Determine the Type of Business Entity:

The first step is to decide on the type of business entity that suits your business needs. If you prefer to establish a Free Zone Establishment (FZE), it allows a single shareholder, while a Free Zone Company (FZC) permits multiple shareholders, up to a maximum of five.

2. Choose the Business Activity:

Selecting the business activity is crucial as different activities have distinct requirements and restrictions. RAKEZ provides a comprehensive list of permissible business activities, and it is essential to ensure that your desired activity is on the list before proceeding.

3. Select the Appropriate License:

RAKEZ offers different types of licenses, such as commercial, consulting, industrial, e-commerce, media, and service licenses. Choose the license that aligns with your business activity. Each license has specific requirements, such as minimum office space or capital investment, which must be met.

4. Choose the Suitable Facility:

Once the license type is decided, the next step is to select the appropriate facility for the business. RAKEZ provides a range of office spaces, warehouses, and land for lease or purchase. Identify the size and type of facility required based on your business needs.

5. Prepare the Documents:

To proceed with the registration process, certain documents need to be prepared. The typical documents needed include:

a. Completed application form

b. Passport copies of shareholders and directors

c. Visa page copy (for non-residents)

d. Bank reference letter

e. Business plan

f. No objection certificate (NOC) from a sponsor (for UAE residents)

g. Memorandum and Articles of Association (MOA and AOA)

h. Lease agreement for the business premises

6. Submit the Application:

Once the documents are ready, you can submit the application along with the required fees to RAKEZ. The application can be submitted online or in person at the RAKEZ service center.

7. Obtain Initial Approval:

After submitting the application, RAKEZ will review the documents and perform the necessary due diligence. If all requirements are met, RAKEZ will issue the initial approval, allowing you to proceed with the next steps.

8. Pay the Fees and Obtain Trade License:

Once the initial approval is granted, you need to pay the registration and license fees. RAKEZ will provide an invoice with the exact fees to be paid. After the payment is made, RAKEZ will issue the trade license, permitting you to commence business operations.

9. Obtain Establishment Card and Visa:

To legally operate your business in the UAE, you need to obtain an establishment card and visas for the shareholders and employees. RAKEZ can assist in the visa issuance process, including applying for visas and Emirates ID cards.

10. Complete the Post-License Formalities:

After obtaining the trade license and visas, there are a few post-license formalities that need to be completed. These include opening a corporate bank account, registering for VAT (if applicable), and securing any additional permits or certifications required for your specific business activity.

11. Commence Business Operations:

Once all the necessary steps and formalities are completed, you can officially start operating your business in Ras Al Khaimah. It is important to regularly comply with any renewal or reporting requirements to continue lawful operations.

Conclusion
Setting up a business in the Ras Al Khaimah Economic Zone (RAKEZ) offers a streamlined and efficient process designed to cater to various business needs. With its strategic location, world-class infrastructure, and comprehensive support services, Ras Al Khaimah provides an attractive environment for entrepreneurs and companies looking to establish and grow their presence in the UAE. By following the outlined steps, from selecting your business activity to obtaining your license, you can navigate the setup process with ease and take full advantage of the benefits offered by Ras Al Khaimah.

It is crucial to follow the process diligently and seek professional assistance. We at BizDaddy ensure a smooth and successful business setup in RAKEZ.