Company Registration in Free Economic Zone Ras Al Khaimah (RAKEZ) - Business Starting & Setup

Located in very the heart of Ras Al Khaimah, RAKEZ is a powerful industrial centre in the United Arab Emirates that offers various business solutions. RAKEZ provides for the possibility of establishing both offshore and onshore companies.

The setting up of onshore companies gives an opportunity to obtain resident visas for members/employees and their families, which is a definite advantage. Moreover, a real presence (substance) for onshore companies is created in the form of a rented office or a workplace in the Flexi desk / Flexi office. Office requirements for onshore companies may vary depending on the type of licence for a specific activity.

• Can be in English or Arabic.
• Must not be identical or similar to the name of an existing company.
• Must have an ending indicating the legal form (“FZE”).

Company registration in Ras Al Khaimah Economic Zone includes the following steps:

1. Select a company name to be checked for availability (at least 2 names), the structure of the company (director, manager, secretary, shareholder, attorney) and type of licence (Industrial, General Trading, Commercial, Service, Educational, Media, Individual / Professional, E- Commerce);
2. Pay fees for services;
3. Provide the documents for directors / managers / secretaries / shareholders / attorneys (either originals or notarized copies);
4. Prepare and submit a set of documents for company registration, get the documents signed by the officers and shareholders of the company;
5. Receive the certificate of registration, articles and seal in the specified address.

The UAE does not have public company registries that would contain details of shareholders or directors. Information about free zone companies can only be obtained at the request of a local court.

The register of shareholders and directors of the company is not accessible to third parties.

RAKEZ offers various office packages depending on the client’s needs regarding the type and number of licences, number of visas, need for a real presence and placement in the free zone.

• Flexi desk and flexi office – a separate room or cell in an open space in first-class business centers. Types of licences: commercial, service, general trading.
• Office – an isolated room 6,5 to 11,9 sq.m.. Types of licences: commercial, service, general trading.
• Administrative office – an isolated room 12 to 20 sq.m.. Types of licences: commercial, service, general trading.
• Service premises – a large office that can be designed to meet specific customer needs, from 120 to 170 sq.m. Types of licences: commercial, service, general trading.
• Warehouses – warehouses with offices, insulated, of various sizes, starting from 150 sq.m.. Suitable for all types of licenses.
• Land plot – a plot for development with an area of 2 500 sq.m.. Types of licences: commercial, industrial, general trading.

Сompanies are required to have a common seal.

The redomiciliation of companies either to or from the UAE is permitted.

The director can only be an individual, the minimum number of directors is one. There are no requirements for the residency of directors. Details of directors are submitted to the free zone administration, but are not accessible to third parties.

The manager can only be an individual, the minimum number is one. Must be a resident of the UAE.

Companies registered in RAKEZ can also appoint a secretary, who can be an individual or a legal entity. One person can simultaneously be a shareholder, director, secretary, manager and authorized representative of the company.

The minimum number of shareholders in a company is one, the maximum is 50. Both individuals and legal entities can be shareholders. There are no residency requirements. Nominee shareholders are not permitted.

Details of shareholders are not disclosed to third parties, since there is no public or open register of legal entities and their shareholders in the UAE.

Despite that many jurisdictions consider creating a public register of beneficial owners, the UAE does not have one yet. This means that there is no open access to the beneficial ownership information. It is stored by a service provider, namely a company registration agent, trustees, lawyers, accountants and other professionals, subject to strict confidentiality. Information about the beneficial owner can only be disclosed to regulatory authorities (for example, during inspections for its availability) or by court order.

The minimum capital for Ras al Khaimah Economic Zone companies is AED 10 000 (~ USD 2 750). It may vary for certain types of businesses.

The share capital can be denominated in any currency other than AED subject to prior approval of RAKEZ authorities. The different classes of shares can also be issued subject to prior approval of the Emirate’s authorities. A company can issue shares of AED 1 000 or a multiple amount each.