The Ras Al Khaima Free Trade Zone (RAKEZ) was founded in 2016, a specialized economic front to help foreign business get cost-effective company formation solutions in UAE.
Rakez is often a zone of choice for SMEs looking for affordable business setup packages to test the appetite of new markets. It functions as a one-stop platform, offering a wide range of corporate services and specialized incentives.
Since its inception, the zone has accommodated waves of entrepreneurial ventures which account for a remarkable percentage of UAE’s GDP and employment.
In efforts to increase its corporate appeal, RAKEZ has revised its business setup packages, increasing standard Offices from 12 m2 to 16 m2 and the Executive Offices from 20 m2 to 24 m2. The number of visas allocated has also been upgraded from 3 visas of Standard Office to 4 visas and 4 visas of Executive Office to 6 visas. Most importantly, RAKEZ has not changed the prices and instead added promo investment schemes with up to 25% off on business set-up packages.
RAKEZ is well reputed for its simplified business set-up process, fast visa procurement, low trade license fees, and impeccable support services, underpinning it UAE’s economy into a thriving mode.
One UAE’s leading business set-up consultants Lloyd Kashaya from IBG Consulting shared his thoughts on RAKEZ’s new business packages,
“The initiative shows the government is interested in continuously sustaining the entrepreneurial drive in the region. With the new packages, we are expecting a great number of foreign investors who were seeking business set-up solutions of this scale.”
RAKEZ has dedicatedly attracted investors from all around the world and maintained a profitable ecosystem for start-ups in the region. In 2017 RAKEZ hosted Startup Weekend, a global program of entrepreneurs with experience in successfully launching start-ups.