RAKEZ (Ras Al Khaimah Economic Zone) is the emirate's official free-zone authority, formed in 2017 from the merger of RAK Free Trade Zone and RAK Investment Authority. Here's what it actually takes to set up.
RAKEZ offers 10 distinct licence categories across free-zone and non-free-zone entities, covering over 1,000 approved business activities from trading to specialised consulting.
Free-zone entities suit companies trading internationally or needing 100% foreign ownership with no local sponsor; non-free-zone suits businesses targeting the UAE mainland market.
Standard RAKEZ approvals move quickly; Innovation City, the AI-powered free zone, licenses qualifying founders in as little as 2–3 days.
Approved companies receive a digital licence with a QR code, enabling immediate bank account opening and contract signing.
Every firm must register with the Federal Tax Authority for a Tax Registration Number. Annual return filing is mandatory even where 0% tax applies to income earned outside the UAE.
Formerly RAK Digital Assets Oasis, Innovation City has relaunched as what it calls the world's first free zone fully powered by artificial intelligence — and it has already attracted more than 1,000 startups.
One of five founding sectors, building on the zone's origins as RAK Digital Assets Oasis.
The flagship positioning — AI-native infrastructure and 2–3 day licensing for qualifying founders.
A founding growth sector, drawing studios and operators watching the wider region's gaming market.
Rounding out the five founding sectors, with purpose-built infrastructure and access to capital and talent pipelines.
RAKEZ licence fees and office rents typically run 20–30% below comparable Dubai free zones, a core part of its pitch to cost-conscious founders and industrial firms.
No. From day one, RAKEZ company setup is 100% foreign-owned with no local partner or sponsor required.
The UAE is rolling out a national e-Invoicing system, with a pilot expected in July 2026. Companies setting up now should choose accounting or ERP systems that support structured digital invoicing from the outset.
Innovation City operates as its own AI-focused free zone (formerly RAK Digital Assets Oasis), distinct from but complementary to RAKEZ's broader multi-sector offering.