RAKEFZ is the only all-in-one agent that covers every RAK jurisdiction. For Innovation City, we help crypto, Web3, AI, gaming and fintech founders get licensed quickly with a crypto-friendly framework and a dedicated human Relationship Manager.
Innovation City RAK is Ras Al Khaimah’s dedicated digital-economy zone. It replaces the former RAK Digital Assets Oasis and is purpose-built for Web3, blockchain, AI, gaming, metaverse, healthtech and fintech startups.
Innovation City is built for fast, remote digital-economy licensing. RAKEFZ matches your activity, prepares the file and tracks approval through the zone.
Innovation City suits non-regulated Web3, blockchain, AI, gaming, SaaS and fintech product companies. If your activity is a regulated financial service, VARA or another regulator may be needed first.
Pick a Free Zone Establishment (FZE) for a solo founder, an FZ-LLC for co-founders, or a branch. Decide whether you need a flexi-desk or office based on visa and team plans.
Submit 2–3 names. Provide passport copies, proof of address and a short business plan. RAKEFZ formats the application to Innovation City's activity guidelines.
RAKEFZ files the licence application and pays the government fee. Standard technology licences are typically issued in 5–7 working days.
You get the Innovation City trade licence, Certificate of Incorporation, MOA and immigration establishment card. This unlocks your visa quota.
Entry permit → status change → medical test → Emirates ID biometric → health insurance → visa stamping. RAKEFZ books and tracks the whole sequence.
With the licence and Emirates ID, apply to a bank that understands technology and digital-asset businesses. Some digital banks can onboard earlier with limited services.
Register with the Federal Tax Authority, maintain a valid address, file annual corporate tax returns, and ensure any crypto/Web3 activity stays within your non-regulated licence scope.
Regulatory boundary: Innovation City supports non-regulated Web3 and crypto activities. If you intend to run a crypto exchange, custody, lending or payment service, you may need VARA or another UAE financial-regulator approval regardless of the free zone.
Blockchain consultancy, software and AI are normally fine. Exchange, custody, lending and payment services need VARA or another regulator — even if licensed in Innovation City.
UAE banks remain cautious about crypto. A clear business plan, non-regulated licence scope, clean source of funds and an authorised signatory with an Emirates ID improve approval chances.
A flexi desk may include one visa; a private office increases the quota. Plan for founders and early hires before choosing the facility.
Free-zone companies must maintain substance in RAK and report qualifying income to keep 0% tax benefits. Keep contracts, invoices and team records in the UAE.
If your product handles user data, ensure your hosting, licensing and terms match UAE data-protection expectations and any sector-specific rules.
Annual renewal is required. If the business later adds regulated or unrelated activities, the licence may need amendment or a second entity.