RAKEZ: What is it?

Located in the center of Ras Al Khaimah and spanning 33 million square meters of a rich, varied economic environment, RAKEZ is a fully functional, fully adaptable, and pre-installed business environment ideal for offshore, non-free zone, and free zone firm creation. RAKEZ founded in 2017 to supervise, combine, and govern all of the duties of RAKIA (RAK Investment Authority) and RAKFTZ (RAK Free Trade Zone) under one roof. Following the merger of the two organizations that started two decades ago, RAKEZ has completely changed Ras Al Khaimah’s economic environment. Currently, it is the location of more than 13,000 international corporate establishments, representing 100 nations and around 50 distinct industries. Additionally, RAKEZ received the 2017 FDI Global Free Zones of the Year Award for being the most cost-effective economic zone.

Benefits of Starting a business in RAKEZ

1. No applicable taxes

The availability of tax exemptions is a primary incentive for business owners, entrepreneurs, and industrialists to establish a firm in the United Arab Emirates. The Emirates of RAK are subject to the same regulation, which provides tax breaks to entice prospective industrialists to launch their companies.

2. Specialized Business Parks and Industrial Zones

RAKEZ strongly emphasizes drawing in more company investors who are active worldwide. One of the phases the zone has developed is the segmented areas or zones devoted to the activities of relevant businesses like Manufacturing, Trading, Services, etc. The following are the industrial zones that are most well-known:

  1. Al Hulaila Industrial Zone
  2. RAKEZ Business Zone
  3. RAKEZ Academic Zone
  4. Al Hamra Industrial Zone

Business parks in the province include the following:

  1. Business Parks: These areas are dedicated to corporations and other businesses.
  2. Industrial Parks: A resource for the vast manufacturing industry
  3. Academic Zones: This includes institutions of higher learning
  4. Technology Parks: For commercial and technical activities
3. Minimal Setup Expense

The United Arab Emirates is moving in the correct direction to draw in more capital and position itself as a major international financial center. Since business setup services expenses now differ by Emirates, several choices for establishing a business in the RAK region can result in a lower startup cost.

One can benefit from the unique cost-saving potential of RAKEZ while creating a firm. There are low, medium, and large-sized warehouses accessible for use by different businesses, depending on the operations carried out. Operations include trading, producing, storing, assembling, transporting, providing utilities, and maintaining security. Therefore, these customized solutions provide company investors with several benefits, irrespective of the nature or scale of the enterprise.

4. Quick Business Establishment Procedure

The second factor that draws business owners to establish a company in RAK, after cost, is the speed at which the process may be completed. To ensure a smooth incorporation process, it is advisable to seek out qualified business specialists who are conversant with the procedure. However, the following companies can set up in RAKEZ:

  1. Free Zone Establishment (FZE)
  2. Branch of a UAE Company
  3. Branch of a Foreign Company.
  4. Free Zone Limited Liability Company (FZ-LLC)
  5. Individual Establishment Limited Liability Company (LLC)
5. Simple Access to the MENA Area and International Market

Once your firm is established in the RAK region, you will have numerous choices for expanding into the worldwide market. One of the areas that is most frequently targeted is the MENA area, where entrepreneurs may expect to see significant profits and faster firm growth. Other countries having free markets include Bahrain, Oman, Qatar, and other Emirates. Now, let’s quickly review some industry data that can help you make decisions.

6. Quick Business Establishment Procedure

The quick business setup process in RAK is another attraction that draws entrepreneurs to open a firm in addition to the cost. However, it is advised to enlist the assistance of seasoned business experts knowledgeable about the incorporation process to enjoy a seamless incorporation process. You can concentrate on creating the following business entities in RAKEZ:

  1. Free Zone Establishment (FZE)
  2. Free Zone Limited Liability Company (FZ-LLC)
  3. Individual Establishment
  4. Limited Liability Company (LLC)
  5. Branch of a UAE Company
  6. Branch of a Foreign Company
7. Business License Availability

The UAE region requires business owners to obtain several licenses, depending on the particular company activity. The following are a few of the grants that the RAK zone offers:

  1. Commercial License
  2. Education License
  3. Industrial License
  4. Consultancy or Service License
  5. E-Commerce License
  6. Media License
  7. Professional License

WORDCRAFT is now an official channel partner of RAKEZ

Wordcraft has achieved a significant milestone by becoming an official channel partner of RAKEZ (Ras Al Khaimah Economic Zone). This strategic collaboration marks a pivotal moment in Wordcraft’s journey, solidifying its position as a trusted and recognized entity in the business landscape. RAKEZ, a prominent economic zone in the United Arab Emirates, is renowned for fostering business growth and providing a conducive environment for companies to thrive. However, as an official channel partner, Wordcraft gains access to various opportunities and resources that RAKEZ offers to facilitate business expansion and development. 

This partnership is poised to unlock new avenues for Wordcraft Group, enhance its capabilities to cater to a broader clientele and strengthen its market presence. The association with RAKEZ reflects Wordcraft’s commitment to excellence and underscores its dedication to fostering mutually beneficial relationships within the dynamic business ecosystem. With this official channel partnership, Wordcraft is well-positioned to navigate the competitive landscape, leveraging the support and infrastructure provided by RAKEZ to propel its growth and contribute to the flourishing business community within the economic zone.

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