Obtaining a business license from Ras Al Khaimah Economic Zone (RAKEZ) helps foreign investors to enjoy benefits such as a strategic location, low-cost living environment, modern infrastructure, and ease of doing business. However, getting a RAKEZ business license involves a series of procedures that should be navigated properly. Each license is tied up with a business activity but selecting the wrong license may lead to business failure.
The process of business setup in RAKEZ can be confusing for new investors who are unaware of the laws and regulations. Business setup consultants in RAK can help you to analyse the features of each license and tips to get them easily. The following article will guide you on every aspect of getting a RAKEZ free zone business license:
Choose the right business activity
Business activities allowed in the UAE can be generally categorised into three license segments. They are commercial, professional and industrial segments. RAKEZ free zone authority permits more than 3000 activities spread across the three general licensing segments. Business setup consultants in RAK can guide you under which license category your proposed business falls.
Licenses Issued by RAKEZ
You need to first obtain a business license to carry out any form of commercial activity in RAKEZ. Carrying out any activity without a license is a punishable offence in the UAE including in RAKEZ free zone. RAKEZ Authority issues the following licenses based on the activities:
Commercial License
Getting a commercial license in RAKEZ authorises foreign investors to trade locally, and import and re-export goods and commodities. Jewellery trading, automobile trading, and security equipment installation & maintenance are a few examples of activities permitted under the RAKEZ commercial license. Company formation consultants in RAK can help you to obtain a RAKEZ commercial license.
E-commerce License
An e-commerce license issued by RAKEZ allows you to virtually trade goods and services. Some of the common business activities authorised by a RAKEZ e-commerce license include e-trading vehicles or media materials, selling event tickets online, portal creation & management etc. Business setup experts in RAK can help you to get a RAKEZ e-commerce license quickly.
General Trading License
A RAKEZ general trading license allows investors to buy and sell multiple products. Unlike a commercial license, a general trading license allows you to trade a diverse range of products that are not similar. Foodstuff trading, building materials trading and garment trading are some of the common business activities permitted under a RAKEZ general trading license.
Individual / Professional License
RAKEZ issues this license to a single company owner with only one activity in a specific area of expertise. With this license, you can carry out activities such as providing user interface or visual or manufacturing or logo designs, and web-hosting. Business setup consultants in RAK can help you obtain this license without any hassle.
Industrial License
An industrial license holder in RAKEZ can manufacture, import, assemble, pack and export goods. Key permitted activities under a RAKEZ industrial license include manufacturing automotive parts, furniture, ceramics, products coating, steel fabrication etc.
Media License
A RAKEZ media license allows foreign investors to carry out media-related business activities. Some of the common activities include TV/radio sales & marketing, talent management, search engine optimisation (SEO) etc. Business setup advisers in RAK can advise you on the procedures of obtaining a RAKEZ media license.
Professional License
RAKEZ issues a professional license to individuals offering professional services. Professional services permitted in RAKEZ include financial advisory, project management, engineering services and company formation services.
Service License
Obtaining a service license in RAKEZ allows the holder to offer services across any industry. Some of the service license activities encompass restaurant or hotel management, running a yoga club or a consultancy. If you want to obtain a service license, talk to business setup consultants in the UAE.
Freelancer Permit
Individuals who wish to carry out a commercial activity under their name instead of a company’s name can apply for a freelancer permit in RAKEZ. The RAKEZ free zone has issued a list of activities that can be performed with a freelancer permit. Some of them are fashion designing, photography, translation and calligraphy services.
Educational License
A RAKEZ educational license allows entrepreneurs to operate educational institutions or educational consultancies. Some of the common activities permitted under a RAKEZ educational license include running a vocational school, providing college admission services or tutoring/ training.
RAKEZ Dual License
A free zone license generally allows you to carry out activities within the free zone or internationally. Free zone-registered businesses are not allowed to carry out trading activities in the lucrative UAE mainland area. However, RAKEZ dual license allows the license holders to combine commercial and professional activities under one licence and seamlessly operate on the mainland and in free zones. The RAKEZ dual license includes a free zone licence issued by RAKEZ and a ‘free zone company branch’ licence issued by RAKDED.
How to obtain a business license in RAKEZ?
The process of obtaining a trade license in the RAKEZ free zone is straightforward. The process can be further simplified if applied through business setup consultants in RAK. You need to execute the following steps to obtain a RAKEZ business license:
- Select activities
- Choose a company name
- Determine the legal structure
- Choose a space
- Submit documents
- Get the license approval
Consult with the Best Business Steup Consultants in Ras Al Khaimah
Obtaining a RAK business license provides you with a wide range of lucrative opportunities. However, business setup consultants in RAK such as Jitendra Business Consultants (JBC) can help foreign investors to eliminate the complexities associated with the process. JBC has extensive experience in helping foreign investors set up a company across the UAE free zones including RAKEZ.
JBC has a team of professionals who can simplify the process of business setup in RAKEZ for you. Our business setup services in the UAE include drafting the license application and documents, visa processing, advising in activity selection, bank account opening etc. We can also help with complex compliance requirements related to UAE corporate tax, Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO) and Anti-Money laundering (AML).
