Ras Al Khaimah Free Trade Zone (RAK FTZ)
Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the fastest-growing and most cost-effective free trade zones in the UAE and home to some 6,000+ active companies.
With a reputation for affordability, flexibility and broad geographical reach, RAKFTZ are rapidly emerging as the preferred business hub in the region, from which investors, of all origins and industries, can easily access and branch into the emerging markets.
RAK FTZ clients enjoy the widest range of facilities and value added services, and benefit from key advantages such as:
- 100% tax exemption
- 100% foreign ownership
- Transparent laws and regulations
- No restrictions on capital and profit repatriation
- Strategic location, with proximity to Dubai
- State-of-the art communication facilities
- Easy access to Ras Al Khaimah’s airport and sea ports
RAK FTZ Offers Four Types of Business Licenses:
RAK FTZ issues the following types of license options for business setup.
- Commercial License
- General Trading License
- Consultancy/Services License
- Industrial License
Applicants should be aware of the following points when applying for a business license:
- Every company operating within RAK FTZ is required to obtain a business license. A business license (also known as a trade license) is a time-limited permit granted to a company to undertake commercial, consulting or industrial activities within the free zone.
- Companies licensed by RAK FTZ are not authorized to do business in the UAE market - a local agent or distributor has to be specially appointed for carrying out business activities in the UAE market.
- Each license is valid for one year, starting from the date of issue, and must be renewed annually. Submission of audit reports is a mandatory requirement for business license renewal.
- All rates are subject to periodic revisions, and the licensed companies will be informed of such revisions at the time of business license renewal.
Document Requirements for Company Registration:
- Certificate of Incorporation/Formation.
- Application form (applicable to Free Zone Company/Establishment only).
- Brief project description.
- Bank letter to open an account in the name of the company.
- Passport copies
- Bank references
- List of Trade Names, Declaration & Letter of Intent.
- Personal Bank Statement to be submitted for any one of the Individual Shareholders, amounting to AED 100,000.
- No Objection Letter from the sponsor to set up business at the RAK Free Trade Zone (Only for UAE resident).
- Copy of Degree Certificate (Management Degree) of the Manager along with Translation of the same. (Academic qualifications and professional experience in the particular field will be required for Consulting & Services License).
Document Requirements for Business License Issuance:
A bank letter confirming that the specified amount of capital has been deposited (applicable to Free Zone Company/Establishment only) is required.
For Branches, it is not mandatory to deposit capital in the company account - RAK Free Trade Zone will issue the license once payment has been processed.
All new Free Zone Company/Establishment applicants should open a bank account within 90 days of the Certificate of Incorporation/Formation to avoid paying a penalty to revalidate the Certificate of Incorporation/Formation.