The Bottom Line
RAKEZ costs AED 4,820 less (31% savings) in your first year compared to Meydan. That’s AED 10,770 vs AED 15,590 all-in with one visa.
If speed matters more than cost, Meydan gets you operational in 3 Working Days — 2 working days faster than RAKEZ.
For banking, Meydan has high approval rates, which means smoother account opening and less paperwork. A rejected bank application can delay your launch by weeks.
Ras Al Khaimah · Est. 2017
Ras Al Khaimah Economic Zone (RAKEZ)
RAKEZ is perfect for cost-conscious entrepreneurs, e-commerce sellers, and small tech teams who want maximum flexibility and lowest fees. If you operate primarily online and need a legitimate UAE entity without high costs, RAKEZ is hard to beat.
License
AED 7,500
Visa
AED 2,400
Setup
5 Working Days
Banking
Medium
The Pros of RAKEZ
Second-lowest license fee in UAE (AED 7,500)
Includes virtual address, no extra fees
Flexible for all business types — minimal activity restrictions
Up to 50 shareholders for scalable partnerships
Competitive office and warehouse packages
Strong government support with no restrictions on ownership structure
The Cons
Medium bank approval (70%) — RAK premium applies
Northern location less convenient than Dubai/Sharjah for clients
Smaller business network ecosystem versus DMCC or JAFZA
Limited immediate infrastructure (no integrated co-working)
Fewer multinational company presence versus Dubai zones
Dubai · Est. 2009
Meydan Free Zone
Meydan suits solo entrepreneurs and small partnerships (max 6 shareholders) who want a Dubai presence without long setup timelines. Ideal for consultants, traders, and service providers serving the broader Middle East market.
License
AED 11,500
Visa
AED 3,150
Setup
3 Working Days
Banking
High
The Pros of Meydan
Dubai address for international credibility
Fastest setup at 3 working days
High bank approval rate for professional services
Flexible activity mix — ideal for multiple business lines
Virtual address with optional office upgrades
Strong reputation in Middle East business community
The Cons
Maximum 6 shareholders limits growth potential
Higher license fee than Shams or RAKEZ
No specialized industry support like DMCC or JAFZA
Limited visa allocation with virtual address
Full Cost Comparison
All figures in AED with 1 visa included. The lower value is highlighted in green.
Cost Item
RAKEZ
Meydan
Business License
AED 7,500
AED 11,500
Office / Desk
Included
Included
Visa (1 person)
AED 2,400
AED 3,150
Medical Exam
AED 300
AED 320
Emirates ID
AED 370
AED 370
Establishment Card
AED 200
AED 250
Total Year 1
AED 10,770
AED 15,590
Annual Renewal (Yr 2+)
AED 6,800
AED 10,200
Banking & Compliance
Getting a bank account open is often harder than getting the license itself. Here’s what to expect at each zone.
RAKEZ
RAKEZ has medium bank approval (70–75%). Processing takes 2–3 weeks for clear e-commerce or IT businesses. RAKBANK (based in RAK) and Mashreq show strong appetite for RAKEZ. Bring evidence of existing customer base, online sales, or client contracts. Banks appreciate RAKEZ's transparency and straightforward setup.
License approval takes 5 working days. RAKEZ accepts broad activity categories and rarely rejects applications for activity reasons. Virtual address and licensing are streamlined with minimal documentation. If adding warehouse space, expect brief FSA clearance for storage only (not manufacturing).
Meydan
Meydan enjoys high bank approval (95%+ with major banks) due to its established reputation. Processing takes 2–3 weeks for standard applications. Emirates NBD, Mashreq, and ADCB have fast-track processes for Meydan clients. A simple business plan showing service offerings is usually sufficient.
License approval happens in 3 working days from complete submission. Activities must be specified clearly, but Meydan accepts broad categories like "general trading" and "business consultancy." Name reservation is same-day. Maximum shareholder limit (6) is fixed and cannot be waived.
Which One Should You Pick?
Choose RAKEZ If…
- Your business matches: E-commerce, General Trading, IT Consultancy, Management Consulting
- Budget is your primary concern (AED 4,820 cheaper)
- You work remotely and don’t need a physical office
Choose Meydan If…
- Your business matches: E-commerce, General Trading, Management Consulting, Marketing
- You want the smoothest possible banking experience
- You need to get operational as quickly as possible (3 Working Days)
- You work remotely and don’t need a physical office
Our Analysis
If speed is your priority, Meydan Free Zone gets you operational in 3 days versus Ras Al Khaimah Economic Zone (RAKEZ)'s 5-day timeline. But that faster setup comes with cost implications—Ras Al Khaimah Economic Zone (RAKEZ) saves you AED 4,820 (31% less) in your first year. From a banking perspective, Meydan Free Zone has high approval prospects, making it smoother for companies needing quick account setup. Ras Al Khaimah Economic Zone (RAKEZ) shines for rakez is perfect for cost-conscious entrepreneurs, e-commerce sellers, and small tech teams who want maximum flexibility and lowest fees. if you operate primarily online and need a legitimate uae entity without high costs, rakez is hard to beat., while Meydan Free Zone targets meydan suits solo entrepreneurs and small partnerships (max 6 shareholders) who want a dubai presence without long setup timelines. ideal for consultants, traders, and service providers serving the broader middle east market.. The cost gap is modest enough that your specific business needs should guide the decision. Meydan Free Zone has banking advantages that may offset its premium pricing for companies making regular international transfers; Ras Al Khaimah Economic Zone (RAKEZ) appeals to cost-conscious startups.
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