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WHAT IS
RAK DAO?
1 . A Free Zone designed exclusively for virtual asset companies, offering a bespoke ecosystem that enables your virtual assets business to envision, develop, implement, and flourish.
2 . Located in the UAE Emirate of Ras Al Khaimah, they have strong and transparent legislation that makes setting up and operating your virtual assets company easy and straightforward.
RAK DAO Activities
Want to Establish Your Business at RAK DAO?
Secure Your RAK DAO Free Zone License in Three Simple Steps
1. Choose Your Business Type
2 . Submit Your Application & Documents
3 . Receive Your Business License
STEP 1 - Choose Your Business Type
Determine the type of company you intend to set up
To establish a digital assets company/permit, select type of registration:
- Freelance Permit
- Digital Nomads License
- Standard Company
STEP 2 - Submit Application & Necessary Documents
During the application process, you will need to:
- Select your license type
Select your business activity from the designated activity group.
- Submit the necessary documents
Provide the necessary documents
- Provide personal information for the applicants
To register your company, it is mandatory to provide details about each principal shareholder. This documentation should include contributions from shareholders, directors, managers, and secretaries (if applicable), as well as nominees and power of attorney holders. This collection of data is required to ensure adherence to relevant laws, regulations, and rules.
- Customize your package
Tailor your package to suit your needs.
- Complete the payment of the application fee
Pay the required application fee.
STEP 3: Obtain Your License
- After you submit your application, our team will undertake a thorough review, assessing your business strategy, financials, and adherence to regulatory standards. Once approved, you will be granted your license, enabling you to start your operations in RAK.
- Holding a RAK DAO license grants you access to our comprehensive facilities, infrastructure, and a suite of business support services, including help with securing visas, permits, and other administrative needs.
- With your license secured, you are set to establish your business footprint in RAK, recruit staff, secure office spaces, and engage in business activities. We encourage you to delve into the wealth of resources and support we offer, and consider engaging with our partners and services during this phase to maximize your business potential.
Why Start Your Business in RAK DAO?
Setup Your Business in RAK DAO
Reach out to Quickplus business consultants or complete the submission form, enabling our team of seasoned experts to guide you through the process of establishing your business in RAK DAO Freezone. Our knowledgeable consultants are available to provide you with tailored advice and ensure that every step of your business setup is handled with professional care and efficiency.
FAQ
What is the RAK Digital Assets Oasis (RAK DAO)?
The RAK Digital Assets Oasis, or RAK DAO, represents the globe’s initial Free Zone specifically designed to cater to modern innovators in digital and virtual assets. This exclusive Free Zone is committed to fostering companies that operate outside of typical regulatory frameworks and are pioneers in burgeoning and evolving industries. The RAK DAO is charged with the task of licensing in the RAK UAE Free Zone.
The RAK DAO Free Zone is at the forefront of fostering innovation, striking an optimal balance between regulatory structures and creative freedom.
Where is RAK DAO situated?
RAK DAO is situated in Ras Al Khaimah, just a 45-minute journey from Dubai. The UAE, recognized globally as a pro-business locale, is characterized by its stable political environment. Strategically located, Ras Al Khaimah serves as a vital conduit linking the Eastern and Western hemispheres.
Who is the target audience for the RAK DAO Free Zone?
The RAK DAO Free Zone primarily serves businesses and projects within the decentralized ecosystem, including areas like the metaverse, blockchain technology, gaming, NFTs, decentralized autonomous organizations (DAOs), decentralized applications (DApps), and other Web3-centric enterprises. For a detailed list of supported activities, please consult our activities list.
What types of businesses are eligible for a license at RAK Digital Assets Oasis?
RAK DAO grants UAE Free Zone trade licenses to entities engaged in the next wave of digital innovations, specifically within non-regulated virtual asset sectors. These sectors include, but are not limited to:
Metaverse
Blockchain technology
Gaming
Non-fungible Tokens (NFTs)
Decentralized Applications (DApps)
Artificial Intelligence
Web3-related initiatives
Does RAK DAO provide office facilities within the Free Zone?
Based on our extensive experience with business setups in the area, we estimate that initiating your enterprise in RAK DAO, from the completion of your online license application to the issuance of your business license, typically takes under seven working days.
What is the timeline for establishing a company in RAK DAO?
Based on our extensive experience with business setups in the area, we estimate that initiating your enterprise in RAK DAO, from the completion of your online license application to the issuance of your business license, typically takes under seven working days.
Is there a public registry for RAK DAO?
Yes, every company holding a license from RAK DAO is listed on the National Economic Register.
Does Ras Al Khaimah offer temporary office leases?
Yes, RAK DAO provides a variety of leasing options, including both long-term and short-term arrangements for coworking spaces, serviced offices of various sizes, and tailor-made office solutions.
What are the prerequisites for opening a bank account in RAK?
RAK DAO has formed strategic alliances with prominent banks to facilitate licensees in establishing local bank accounts. Each banking institution has its own set of requirements; however, typically, the following documents are necessary from a registry perspective:
- Certificate of Registration
- Business License
- Memorandum and Articles of Association
- Shareholders Registry
- Lease Agreement
- Designation of Authorized Signatories for the account
How is a company structured under a RAK DAO license in terms of directors and shareholders?
Companies licensed by RAK DAO are required to have at least one shareholder, and they may appoint directors and managers as needed for their operations. Note that shareholders can be individuals or corporate entities.