Free zone is a particular geographical area in the emirate where 100% foreign ownership is allowed. Free zones do not require partnership with a UAE citizen or with a local service agent.
RAK Investment Authority or RAKIA Free Zone is located in the emirate of Rak Al Khaimah which is 45 min drive from Dubai. Currently, more than 7,500 companies are registered in RAKIA.
RAKIA Free Zone is located in the immediate vicinity of 2 highways, 3 sea ports and 3 international airports.
In addition, RAKIA Investment Authority hosts two industrial parks, Al Hamra and Al Ghail, with a total area of 3,000 sq. m.
In RAKIA Free Zone clients can rent a working space, an office, a warehouse or a plot of land.
minimum share capital requirement amounts to AED 100,000 (USD 27,397) and for a company with 2 or more owners AED 150,000 (USD 41,096). Share capital may be reflected in statuary documents only without actual transfer of funds into bank account.
1 year only, as in any other emirate, after which the license needs to be renewed.
There is no requirement to submit annual audit reports to RAKIA Investment Authority.
Company’s license is due for renewal prior to its expiration date, otherwise, penalties for late renewal apply.
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