There is no dearth of foreign companies that aim to do business in Dubai free zones. Setting up a business in these free zones comes with undeniable advantages that are rarely comparable to other economic free zones across the globe. Dubai has garnered a reputation for being the most foreign business friendly city in the world owing to the special provisions, tax breaks, advantages and benefits of these free zones.
About Ras El Khaimah Economic Zone
Among these many free zones in Dubai is; Ras El Khaimah Economic Zone, which is often abbreviated to RAK or RAKEZ, among the business community here. As can be expected from any free zone in Dubai, a RAK freezone business setup for foreign companies come with multiple advantages, alongside a requirement for permits and licensing from the concerned authorities and the need to complete all documentation and paperwork to establish a legitimate business presence in RAK. Read further for in-depth insights on this subject.
License Types
It must be noted that RAK business setup for foreign companies comes with the benefit of 100% sole ownership with the freedom to source raw materials and workers from foreign countries. Additionally, the Ras El Khaimah Economic Zone is composed of four free zone parks out of which a range of businesses operate including heavy manufacturing, technology verticals, offices and educational institutions, including academic consultancy firms and media companies. As such, one can apply for a wide range of license types for a RAK business setup. They are as listed below.
- Commercial License – For Trading in Goods and Services
- Educational License- For Academic Institutions and Academic Consultancy Services
- Ecommerce – Online Trading of Goods and Services
- General Trading – Trade Involving a Variation of Goods
- Individual/Professional – For Single Owner Business Entities Specializing in a Singular Service or Area of Expertise
- Media – For Media and Media Related Business Activities
- Professional – For Individuals Specializing in Singular Professional Services
- Service – For Businesses Providing a Bouquet of Services or Consultancy Expertise across Multiple Industry Verticals
- Freelancer Permit – For Individual Freelancers Lending Their Expertise to Education and Media Companies
Owing to sheer range of business permits and licenses that can be acquired for a RAK business setup, it is easy to see how any company can flourish here. However, getting a permit or a license for business operations and activities in the Ras El Khaimah Economic Zone is preceded by the need to draft and submit paperwork, liaison with government bodies that regulate foreign businesses here, and to establish legitimacy as a business based in RAK. Fortunately, all of this can be facilitated by business consultancy experts that can take care of all the logistics of establishing your commercial presence in the Ras El Khaimah Economic Zone.
Arab Business Consultant is one such Business Consultants in Dubai that has an established presence in UAE, with the skillsets and legal and logistical knowhow to facilitate a RAK business setup. For more information about this premier consultancy firm and its services, email Arab Business Consultant at info@arabbusinessconsultant.com .
