As on April 2017 guided by the vision of His Highness Sheikh Saud bin Saqr Al Qasimi, United Arab Emirates Supreme Council Member and Ruler of Ras Al Khaimah, 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 (RAK FTZ) and RAK Investment Authority (RAKIA). RAKEZ is now one of the largest economic zones in the region, covering about 33 million square metres of land and housing over 13,000 companies, currently served by RAK FTZ and RAKIA from over 100 countries representing above 50 sectors. RAKEZ is the continuation of the story that started with the foundation of RAK FTZ in 2000 and the establishment of RAKIA in 2005
RAKEZ is committed to its promise of empowering clients and investors by offering a cost-effective and world-class economic zone with customizable packages and services as well as state-of-the-art facilities.
Blessed with a strategic location, RAKEZ connects investors to growing markets of the Middle East, North Africa, Europe as well as South and Central Asia.
- Free zone and non-free zone entity formation
- 100% ownership
- Fast and efficient business setup processes
- Wide-ranging business and industrial facilities and value-added services
- Provision to build on-site staff and labour accommodation
- One-stop shop facility for services
- Self-service customer portal
- Connectivity to major logistical hubs and multilane super highways
- Accessibility via an international spread of regional offices
- Easy access to markets across the Middle East, Europe, North Africa and Asia regions
RAKEZ is divided into specialized zones, viz., RAKEZ Business Zone, Al Hamra Industrial Zone, Al Ghail Industrial Zone, Al Hulaila Industrial Zone and RAKEZ Academic Zone for catering to various sectors including trading, services, consultancy, manufacturing, industrial projects, logistics, schools, universities, institutes, academic consultancy and services.
Structuring of Business Operations in the Free Zones and Non- Free Zones
The business operations in a Free Zone can be structured in either one of the following ways:
- Branch of a foreign company or locally registered entities;
- As a Free Zone Establishment (FZE), wherein there is only one shareholder
- As a Free Zone Limited Liability Company (FZ-LLC), wherein there are 2 – 5 shareholders
The business operations in a Non-Free Zone can be structured in either one of the following ways:
- INDIVIDUAL ESTABLISHMENT: Sole owner
- LIMITED LIABILITY COMPANY (LLC): 2 or more shareholders (upto 50 shareholders)
Note: A non-free zone operation will need a UAE national partner.
In case of a Free Zone Establishment (FZE) and Free Zone Limited Liability Company (FZ-LLC) the minimum capital requirement is AED 100,000). However, it is not mandatory to evidence the deposit of the capital amount.
In case of non-free zone company the company shall have sufficient capital to achieve the purpose of its incorporation and the capital shall consist of shares equal in value. On a proposal made by the Minister in coordination with the competent authorities, the Cabinet may issue a decision determining the minimum limit of the capital of the company.
The business can opt for Flexi facilities, Standard Offices, Warehouse and Industrial Land depending on the activities they propose to carry out in RAKEZ.