GSL / Offshore and International Law / Offshore zones / Middle East / United Arab Emirates / Ras Al Khaimah / United Arab Emirates: Free Economic Zone Ras Al Khaimah (RAKEZ)

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

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Service packages
Express
Standard
Optimum
Company registration
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Legal address per year
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Secretarial services for the first year
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Fees and duties for the first year
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Apostilled bound set of incorporation documents
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Compliance fee
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Nominee service per year
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Bank Account Pre-approval
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Price
10 900 USD

10 900 USD

11 400 USD

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Registration of a Company in Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone (RAKEZ)

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.

Company Name

  • 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

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

  1. Select a company name to be checked for availability (at least two 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.

Confidentiality

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.

Local Registered Office

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.

Seal

Сompanies are required to have a common seal.

Redomicile

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

Company structure

Directors

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.

Manager

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

Secretary

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.

Shareholders

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.

Beneficiary

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.

Share Capital and Shares

The minimum capital for Ras al Khaimah Economic Zone companies is 10.000 AED (appr. 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.

Core Services

— Incorporation

Price10 900 USD

Including licence, rent of flexi-desk, stamp, and company registration. The cost of the package may vary depending on the number of shareholders, type of licence, and size of the office (the number of resident visas depends on the size of the office). The fees are stated for a company with a single shareholder and the possibility of obtaining 2 resident visas (minimum package). The fees also include a refundable deposit for e-channel in the amount of AED 5,000 (appr. USD 1370).

— Corporate legal services

Price10 200 USD

Including licence, rent of flexi-desk, and company renewal. The fees are stated for a company with a single shareholder and the possibility of obtaining 2 resident visas (minimum package).

— Obtaining a resident visa

Price4 200 USD

Cost of one investor visa, including: payment of all government fees (Entry Permit, Medical & Emirates ID, Visa Stamping); preparation and submission of applications and necessary documentation; accompanying the applicant on the trip to the hospital and migration authority.

— Assistance with bank account opening

Price2 500 USD

Irrespective of the outcome of application

— Delivery of documents by courier mail

Price160 USD

DHL or TNT, at cost of a Courier Service

Basic set of documents

Incorporation Certificate

Memorandum and Articles of Association

Power of Attorney

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    Compliance fee

    Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

    Basic

    Price250 USD

    simple company structure with only 1 physical person

    For legal entity in structure under GSL administration

    Price50 USD

    additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

    For legal entity in structure not under GSL administration

    Price100 USD

    additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

    For client with high risk Status

    Price350 USD

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