Business Setup in RAK DAO
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How Much Does Business Setup In RAK DAO?
It depends on several factors, such as your business activity, Free zone or Offshore, Number of Visas required, and shareholders. Based on our 4 years of experience in business setup in the UAE, we have developed a Business Setup Cost Calculator to give you answer.
RAK DAO Free Zone stands out as a pioneering economic hub specifically designed for businesses involved in digital assets, Web3, and Artificial Intelligence (AI). This newly established zone provides extensive business setup opportunities for virtual asset service providers (VASPs) operating in sectors such as the Metaverse, Blockchain, NFTs (non-fungible tokens), utility tokens, decentralized autonomous organizations (DAOs), gaming, and other Web3 technologies.
Located in Ras Al Khaimah, just 45 minutes from Dubai, RAK DAO is the world’s first free zone exclusively dedicated to digital and virtual asset companies, offering crypto firms a platform to deliver cutting-edge solutions tailored to client needs.
Benefits of Establishing a Web3 Business in RAK DAO Free Zone
1. Crypto Payment Integration
2. Strategic Location and Cost-Efficient Living
3. Advanced Infrastructure
With state-of-the-art infrastructure, including high-speed internet, modern office spaces, and advanced IT facilities, RAK DAO Free Zone supports the technological needs of Web3 businesses. This cutting-edge environment helps companies operate smoothly, ensuring they have the necessary resources for growth and innovation.
4. Access to Funding and Investment
5. Collaborative Ecosystem
Free Zone Business Setup
Mainland Business Setup
Run your business anywhere in the UAE without any limitations.
Offshore Business Setup
Set up your offshore company and operate outside the UAE with a corporate bank account.
Step 1
Effortless documentation for International entrepreneurs.
Step 2
Selecting the ideal license for your business requirements.
Step 3
Acquiring Employment Entry Permits and Residence Visas for Staff.
Step 4
Establishing a Corporate Bank Account in the UAE.
Setting up a virtual assets business in RAK DAO can be complex, especially for foreign investors. However, with the help of professional business setup consultants, the process can be made simpler. Here are the key steps to establish a Web3 business in RAK DAO:
- Prepare your business plan and gather necessary documentation.
- Choose the legal structure for your company.
- Select a suitable name for your Web3 business in RAK DAO.
- Choose between a Freelance Permit, Digital Nomads License, or Standard Company license.
- Obtain initial approval from the regulatory authority.
- Draft your Articles of Association (AoA) outlining shareholder details.
- Prepare the Memorandum of Association (MoA), if required.
- Secure an office space and sign a tenancy agreement.
- Submit your application along with all legal paperwork and required fees.
- RAK DAO authorities will review your application and documents.
- Upon approval, you will receive your Web3 license.
The UAE is rapidly advancing its digital landscape, with a strong focus on blockchain technology for enhancing customer engagement. Supported by government initiatives, global entrepreneurs are increasingly establishing their Web3 companies in the UAE. To incorporate a Web3 company in RAK DAO, the following documents must be submitted:
- Business Plan
- Initial NOC from RAK DAO authority
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Certificate of Registration
- Board or Shareholders’ Resolution
- Incumbency Certificate
- Valid Trade License
RAK DAO offers a unique platform that helps businesses explore emerging technology sectors such as Web3, the metaverse, blockchain, NFTs, FinTech, digital wallets, virtual currencies, and DApps. It empowers businesses with greater control over operations, ensures financial compliance, and provides special tax incentives.
While businesses often begin by focusing on non-financial aspects, many eventually integrate financial activities. RAK DAO is also pioneering the development of the “Mall of the Metaverse,” a space for shopping and entertainment, promoting the adoption of Web3 technology in Ras Al Khaimah.
Etihad Airways, one of the UAE’s national airlines, is leveraging Web3 through NFTs, offering unique designs on their planes to enhance customer experiences. Additionally, they are incorporating blockchain technology to add a new dimension of excitement to air travel.
Corporate Tax & VAT
Receive expert guidance to ensure compliance with Corporate Tax and VAT obligations under the Federal Tax Authority (FTA).
Bank Account Opening
We will help you in opening your corporate or personal bank accounts in UAE effortlessly with trusted banks in the UAE.
Accounting & Payroll
Our accountants handle finances, offering bookkeeping, reconciliation, payroll, and audit support, reducing hiring expenses.
Compliance Services
Our specialists at Agility Global assist with UAE’s regulatory requirements, including ESR reports and UBO filings.
PRO Services
Leave administrative tasks to our PRO team, allowing you to focus on business while saving time and money.
Legal Services
Our legal team advises on UAE laws regarding M&As, corporate restructuring, financing, and dispute resolution.
