Known for its flourishing tourism sector, Ras Al Khaimah’s business landscape is also blooming. With the seeds of a new high-rise business district, RAK Central, already sown into the Emirate’s strategic plan, and set to open in 2026, RAK is committed to cultivating a fertile environment for entrepreneurs and businesses alike. It’s an Emirate where fledgling companies are supported and encouraged to blossom into competitive, global enterprises.
This can be attributed to RAK’s dynamic and nurturing business culture, which is fostered in several strategic ways by a supportive and innovative Government. Whether you are scaling up or starting from scratch, RAK’s strategic positioning, low-tax structure, streamlined setup procedures, and comprehensive business support services make it the perfect Emirate to lay the foundations for your next business venture.
Let’s delve into the business services that are currently available in RAK, which will encourage your business to operate smoothly, and efficiently and, ultimately, grow.
Gearing Up for Business
Business Set Up
Setting up a company in Ras Al Khaimah has many benefits, including 100% foreign ownership, affordability, ease of setup, tax exemptions, and more. Ras Al Khaimah Economic Zone (RAKEZ) is one of the MENA region’s largest and fastest-growing economic zone, providing business licenses for over 3,000 activities, and catering to a plethora of sectors and industries. Not only that, RAKEZ understands the unique requirements new businesses may have so they have launched a variety of value-added services to support the launch and operation of your business. Managed by experts, RAKEZ offers comprehensive Value-Added Services VAS to support businesses at every stage. From corporate structuring, bank account opening, Tax and VAT registration, to attestation/translation, PO Box registration/renewals, PRO/NOC services, manpower supply, and even labor catering, we provide seamless end-to-end solutions conveniently under one roof. Check out the full range of services here.
RAK Digital Assets Oasis (RAKDAO) is another positive option for businesses that fall under the digital and virtual assets category, while RAK International Corporate Centre (RAKICC) caters to businesses’ offshore needs.
Business Bank Account Opening
Opening a dedicated business bank account is crucial. Local and international banks offer various options tailored to meet the specific needs of your business. RAKBANK offers multiple options, a popular choice being the Business Current Account. You can apply online in just 20 minutes, enjoy low operation costs, a dedicated relationship manager, and opt to bank in a range of currencies. A great alternative is a purely digital banking service, with products specifically designed to cater to the needs of businesses. Wio Bank is a great example, offering a digital business banking account with zero minimum balance requirements, free international transfers, and a user-friendly mobile app to manage your finances on the go. You can also use Value Added Services from RAKEZ to assist you with Digital or Retail Business or Personal Bank Account opening here.
Legal Services
Establishing a solid legal foundation is paramount. RAK boasts a pool of experienced lawyers specializing in various business areas, ensuring you navigate the legal landscape with confidence.
Insurance Packages
Protecting your business against unforeseen circumstances is vital. A wide range of insurance providers offer comprehensive packages to safeguard your assets and operations. Check out the extensive business packages on offer at RAK Insurance, where policies cover a broad range of sectors, ensuring your policy covers all the important bases.
Streamlining Operations
Attestation and Translation Services
Operating internationally? RAK offers reliable services for document attestation and translation, ensuring your documents are recognized by the relevant authorities. Service providers like Wordcraft can assist with a variety of document services, streamlining the process and freeing up your time to focus on looking after the bottom line.
Professional Public Relations Officers (PROs) handle a variety of time-intensive business tasks, including visa applications, labor permits, and government liaison. In RAK, you can use an experienced PRO to be a liaison, navigating and executing important HR and business admin tasks at an affordable price.
Tax and VAT Registration
Having your business headquartered in RAK means you can apply for a Tax Residency Certificate and leverage RAK’s advantageous tax environment. Many companies have taken this route and experienced accounting firms in RAK can advise and help you navigate Corporate Tax and VAT compliance with ease.
Communication and Infrastructure
Establish a physical business address with a reliable PO box service through Emirates Post. From 995 AED per year, you can rent a dedicated physical PO box, store some larger items, activate SMS notifications, and benefit from an on-demand delivery service for important or urgent mail.
Choose from a variety of telecommunication providers offering competitive corporate phone and internet packages to stay connected seamlessly. Check out Etisalat and DU’s tailored business packages, which can include devices, monthly minutes, data, and internet packages.
Business Support Hubs
Government entity Tasheel has branches throughout RAK, designed to help streamline business setup procedures. Visit Tasheel to get support with company registration, visas, legal, and other essential processes, all conveniently under one roof.
RAK is also home to several reputable business centers and co-working spaces, such as Regus and Compass, offering flexible workspace solutions, meeting rooms, and administrative support – ideal for digital nomads, entrepreneurs, and startups. Compass Coworking Centre is more of a community platform where students, entrepreneurs, and investors, can connect and collaborate through various activities, free expert-led workshops and seminars.
These are just a few of the many services available to empower businesses in Ras Al Khaimah. With such an extensive support network in place, you can confidently navigate RAK’s business landscape with ease, leaving time to focus on the most important task of achieving your business goals in this thriving Emirate.
Got any feedback or suggestions? We’d love to hear from you! Feel free to reach out at hello@heartofrak.com