UAE Wealth.info

The Arab Emirates introduced the new unique offer for registration of companies in the UAE for women.

The free trade zone in the emirate Ras Al Khaimah “Ras Al Khaimah Economic Zone” (RAKEZ) offers the new unique package – “BusinessWomen”. This is the first ever product in the Arab Emirates designed solely for women who would like to start business in the UAE. The package offers to register a company in the free zone at a beneficial fee, starting from 6,200 dirham (1,690 dollars) with options of deferred payment. The package provides issuance of a business license of a free zone, a shared desk and different corresponding services provided “in one window”.

Business ladies who wish to establish a company in the free trade zone “Ras Al Khaimah” may choose either the package for 1 year or 3 years. Both packages are supplied with extra services, such as free using of a shared desk, priority tokens in service centers of the free zones, and the right for obtaining UAE resident visa (or multiple visas). The 3-year package has another benefit in the form of free UAE investor visa, which is equivalent to 3,950 dirham (1,077 dollars).

The new package allows choosing between eight types of licenses:

• commercial license,
• license for educational activity,
• license for e-commerce,
• general trade license,
• professional license,
• license for media activity,
• service license,
• permission for freelance activity.

New packages are to help women realize their business dreams. Earlier, the free zone RAKEZ held special events exclusively for women. Events were the platform that allowed understanding which problems women face and what can be done to support them. After that, the entire package was introduced that has all the elements to help women become successful entrepreneurs. The package offers economically profitable office premises, licenses, and related services. All you have to do is choose the solution that will optimally suit your needs. Currently, other initiatives are being developed that will even more inspire women to make business.

Today, in the Middle East and North Africa region there exists a 40% gap between men and women in different spheres, including business. Eliminating this gap by promoting female entrepreneurship may help the region to enter more stable and all-encompassing path of economic growth.

Terms of registration of a company in the UAE in the free zone RAKEZ (package “BusinessWomen”)

• Package “BusinessWomen” is only applicable to new clients who use shared desks or office premises with a license of a company in a free zone.
• Company using the package “BusinessWomen” must be 100% owned by women. A manager of a company may be either man or woman.
• Prices under the package “BusinessWomen” cover the general license and the service package. Additional licenses or services are offered at standard prices.
• Prices under the package “BusinessWomen” do not cover special types of activities.
• In change of right of ownership upon request, to include a male shareholder after issuance of a license standard prices will be applied for the remaining period and for later prolongations.

Types of licenses when registering a company in the UAE in the free zone RAKEZ (package “BusinessWomen”)

Commercial license. License allows providing services and selling goods.

License for educational activity. Allows opening educational institutions or consulting companies.

License for e-commerce. Allows selling goods and providing services using electronic means.

General trade license. Allows selling many types of goods.

Professional license. One owner dealing with one activity in certain professional sphere.

License for media activity. Allows dealing with activity related to mass media.

Service license. Allows providing services or consultations.

Permission for freelance activity. For professionals in the media and educational spheres.

Process of registration of a company in the UAE in the free zone RAKEZ (package “BusinessWomen”)

To open a company, the following documents should be presented:

• Application for registration of a company and obtaining a license.
• Business plan.
• Copy of passports of each natural person (shareholders and top manager).
• If an assigned top manager has UAE resident visa, then original “no objection certificate” is required from a visa sponsor.

Corresponding fees should be paid afterwards.

Then, a license will be issued and a company may start business.

Price for registration of a company in the UAE in the free zone RAKEZ (package “BusinessWomen”)

Price for registration of a company

FZLLC (“Free Zone Limited Liability Company”) is a company with limited liability that may have 1 to 50 shareholders.

Additionally, the price of company should be added to registration of the “E-Channel”:

• for companies with 0 to 2 visas — 2,400 dirham (658 dollars);
• for companies with 3 or more visas — 2,400 dirham (658 dollars) connection + 5,000 dirham (1,370 dollars) returnable deposit.

Visas are paid under a standard fee:

1) application for entry permit for sticking of visa;

• 3,950 dirham (1,085 dollars) — regular (4 working days);
• 4,950 dirham (1,355 dollars) — prompt (2 working days);
• 5,450 dirham (1,495 dollars) — extra prompt (1 working day).

2) medical test — 871 dirham (240 dollars) (4 hours);

3) “Emirates ID” — 371 dirham (101 dollar).

4) sticking of visa —

• regular — included in price (5 working days);
• 1,000 dirham (275 dollars) — prompt (3 working days);
• 1,500 dirham (410 dollars) — extra prompt (2 working days).