If you’re considering setting up a business in the UAE, you may wonder about the costs of obtaining a RAKEZ license. RAKEZ, or Ras Al Khaimah Economic Zone, is a free economic zone located in the Emirate of Ras Al Khaimah, offering a range of licenses that allow businesses to operate in the zone. This article will break down the RAKEZ license cost and help you understand what you can expect to pay.
The cost of a RAKEZ license varies depending on the type of license you need and the business activity you wish to engage in. RAKEZ offers various kinds of licenses to businesses, including industrial, commercial, educational, service, and media licenses. The cost of each license will depend on the specific requirements, such as the type of activities you’ll be engaging in, the size of your business, and the number of employees you’ll have.
For example, a commercial license costs AED 6,500 (approximately $1,770) per year for a sole proprietorship. In contrast, an industrial license costs AED 7,500 (roughly $2,040) per year for small-scale industries. These costs are subject to change, so check the RAKEZ website for the most up-to-date information.
In addition to the license fee, other costs may be involved in setting up your business in RAKEZ. For example, you may need to pay for office space, visa, and registration fees. The cost of office space will depend on your business size and your chosen location. Visa fees will depend on the type of visa you need and the number of visas you need for your employees. Registration fees will depend on the type of registration you need, such as registering for VAT or obtaining any necessary permits and certifications.
It’s important to note that additional costs may be involved in running your business, such as utility bills, insurance, and taxes. When planning your business operations, consider these costs in your budget.
Obtaining a RAKEZ license is an affordable option for setting up a business in the UAE. While the cost of a license will depend on the type of license you need and the business activity you wish to engage in, the fees are reasonable and can be easily budgeted. Be sure to factor in any additional costs involved in setting up and running your business, and consult a professional to ensure you understand all the costs involved.