RAKEZ Visa Cost & Types (Freelancers, Investors & Family, etc.)

Explore versatile RAKEZ visas for freelancers, investors, and families

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Welcome to your go-to guide on RAKEZ Visa Cost & Types (Freelancers, Investors & Family, etc.) by Fzbuddy. If you’ve got your sights set on the Ras Al Khaimah Economic Zone (RAKEZ) as your next big move, you’re in luck. Let’s dive into the nitty-gritty of visas in this vibrant zone, just a stone’s throw away from the bustling city of Abu Dhabi!

On this page, you’ll learn about the following:

What is RAKEZ?

RAKEZ isn’t just another spot on the UAE map; it’s a goldmine of investment management opportunities. This zone is a hotbed for investment management and various business activities, offering a wide array of license types for different kinds of businesses. It’s a place that can even give Abu Dhabi a run for its money when it comes to investment opportunities and diverse business models.

Read More: UAQ FTZ Visa Types with Cost for Freelancers, Investors & Family

Overview of the Different Types of Visas Offered by RAKEZ

Whether you’re a freelancer, an investor, or planning to bring your family to the UAE, RAKEZ has got a visa just for you. Let’s break it down:

Freelance Permit

A freelance permit, often referred to as a freelancer license or freelance visa, is a legal authorization or document that allows an individual to work as a self-employed professional or offer their services as an independent contractor in a specific jurisdiction or country.

Eligibility Requirements for a Freelance Permit

So, you’re a freelancer, huh? To snag a freelance permit in RAKEZ, you’ll need to showcase your previous work, fill out an entry permit application, and if you’re in a creative field similar to Dubai Media City, a portfolio is a must-have.

Costs Associated with Obtaining a Freelance Permit

Getting a freelance permit won’t break the bank. Costs range from AED 7,500 to AED 15,000, depending on the business model you opt for. It’s a fantastic option for freelancers who want a freelance license that’s both flexible and affordable.

Investors Visa

An investor’s visa, often referred to as an investor visa or investment visa, is a type of visa that is typically issued by a country to foreign nationals who make a substantial financial investment in the country’s economy.

Qualifications Needed for an Investors Visa

Hey, investors! To qualify, you’ll need to demonstrate your expertise in investment management, and you might even consider alternative investments or hedge funds. RAKEZ warmly welcomes angel investors and those with a proven track record in investment strategies.

Cost of Obtaining an Investors Visa

The cost can vary, but generally, you’re looking at spending between AED 13,000 to AED 20,000. The amount depends on your investment strategies and the financial assets you hold. It’s a paradise for those into direct investments and even mutual funds.

Family Residency Visa

Allows individuals to bring their family members, including spouses, children, parents, and sometimes other close relatives, to reside with them in a foreign country.

Qualification Requirements for Obtaining a Family Residency Visa in UAE

To sponsor your family, either the biological parent or the actual parent must already hold a valid RAKEZ visa. This is essential for preserving family wealth and ensuring a stable family size in the UAE.

Cost of Obtaining a Family Residency Visa in UAE

The cost for a family residency visa can range from AED 3,000 to AED 7,000, depending on various factors like family size. It’s an excellent choice for those aiming to set up family offices in the UAE.

Business Activities in RAKEZ Zone & Other Zones in UAE

RAKEZ isn’t just about individual visas; it’s a hub for a variety of business activities. Whether you’re into investment opportunities or managing portfolio companies, RAKEZ has something for everyone. The zone is open to private companies and independent contractors alike.

Registration Process & Fees for Setting up a Business in RAKEZ Zone and Other Zones in UAE

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Setting up a business in RAKEZ Zone and other UAE zones involves a straightforward, step-by-step process tailored to cater to a diverse range of business needs. From individual entrepreneurs to multi-family offices, each step is designed to ensure a seamless transition into the UAE’s dynamic business landscape. Here is a breakdown of the key steps involved in this process:

  1. Submit Business Plans: Begin by submitting detailed business plans that clearly outline your investment objectives and the nature of your intended business activity. This step is crucial for determining the appropriate business license and structure, whether it’s for a Limited Liability Company, a professional services firm, or a freelancer.
  2. Pay License Fees: After your business plan is approved, pay the required business license fees. These fees vary depending on the chosen zone and the specific business setup package you opt for, such as the traditional company setup, Freelancer Permits, or the Businesswomen Package.
  3. Secure Office Space: Choose and secure appropriate office space for your business operations. This could range from co-working spaces for startups and freelancers to dedicated office spaces for larger enterprises and family offices.
  4. Complete Visa Process: Finalize the visa stamping for yourself, your company manager, and any employees. This may involve applying for different types of visas, such as a one-year visa, a three-year visa, or a Green Visa, depending on individual requirements.
  5. Obtain Establishment Card: Apply for and obtain the Establishment Card, which is essential for the visa process and further business operations within the UAE.
  6. Residency and Medical Insurance: Ensure all employees, including the company manager, have their residency procedures completed, including medical insurance, to comply with UAE regulations.

Each step in this process is integral to successfully launching and operating a business within the UAE’s vibrant and diverse business environment, offering a range of opportunities for various business models and industries.

Types of Business Activities Allowed in the Different Zones Within UAE

Whether you’re into investment management or you’re looking for a freelance license, zones like Dubai Knowledge Park and Dubai Internet City offer a broad spectrum of options.

Investment Strategies & Time Horizons for Companies Within RAKEZ Zone & Other Dubai Zones

If you’re an investor, RAKEZ offers a wide range of investment strategies, from direct investments to dabbling in mutual funds. The zone is also welcoming to angel investors and those keen on making informed investment decisions.

Read More: SRTIP Visa Types with Cost for Freelancers, Investors & Family

Conclusion

RAKEZ is your one-stop-shop for all things visa, whether it’s freelance permits, investor visas, or family residency visas. So, what are you waiting for? Dive into the world of opportunities that RAKEZ offers and make your next big move today!

Sources


FZBuddy aims to provide accurate and reliable information as you navigate the UAE Freezone space. As such, our writers refer to primary information sources in supporting each article appearing on this website. These include, but are not limited to, published news articles, government portals, research papers, and more.

  1. Welcome To RAKEZ – Supporting Startup Businesses & Company Formation in the UAE. (n.d.). https://rakez.com/en/
  2. Home – Government of Abu Dhabi. (2023). Government of Abu Dhabi. Retrieved September 10, 2023, from https://www.abudhabi.gov.ae/

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