Thinking of launching your digital asset or blockchain company in the UAE? While Dubai is often the first name that comes to mind, Ras Al Khaimah (RAK) is fast emerging as the go-to destination for tech entrepreneurs and innovators. From cost-effective business setup to quick license approvals and freedom from certain regulatory hurdles, RAK offers everything a blockchain startup could ask for and more.
If you’re planning your setup, you can connect with Raes Associates for end-to-end guidance and license registration assistance. Connect with Raes Associates on WhatsApp
The Rise of RAK as a Blockchain and Digital Asset Hub
In recent years, RAK has been transforming into a haven for digital innovation. With the introduction of RAK Digital Assets Oasis (RAK DAO) the world’s first free zone dedicated to digital and virtual asset companies it’s now easier than ever for entrepreneurs to build and scale their blockchain ventures.
Unlike other emirates that require approvals from VARA (Virtual Assets Regulatory Authority) for certain activities like tokenization, NFT issuance, or blockchain development, RAK does not require VARA approval for these specific categories. This flexibility allows startups to operate faster, save costs, and focus on innovation rather than compliance delays.
Why RAK Is Ideal for Blockchain and Digital Asset Startups
- No VARA Approval Required for Specific Activities
In Dubai, activities like Proprietary Trading in Digital Assets, Blockchain Development, NFT Creation, or Tokenization Platforms often need prior approval from VARA, a process that can take weeks or months.
However, RAK’s Digital Assets Oasis removes this additional step, meaning businesses can start operations immediately after obtaining their trade license. This cuts down approval time and reduces regulatory barriers, giving entrepreneurs a huge competitive advantage.
- Cost-Effective Company Setup
Setting up a company in RAK is significantly more affordable compared to Dubai or Abu Dhabi. The emirate’s low setup and renewal costs, along with flexible office options, make it ideal for startups looking to scale sustainably.
Approximate cost breakdown:
- License and registration: AED 12,000–18,000
- Flexi desk or shared workspace: AED 5,000–8,000
- Visa allocation and establishment card: AED 3,000–5,000
For detailed insights on free zone pricing and benefits, you can also check out our guide on Free Zone Licenses in UAE.
- Fast License Issuance – Within 48 Hours
RAK DAO provides one of the fastest license approval systems in the UAE. Once your application and documents are verified, your trade license can be issued within 48 hours, allowing you to launch operations without delay.
This streamlined approach not only saves time but also gives RAK a competitive edge over other jurisdictions that have longer verification processes.
- Business-Friendly Ecosystem and Legal Framework
RAK DAO operates under a progressive legal structure, designed to attract Web3, blockchain, and AI-based ventures. The ecosystem supports a range of digital economy activities such as:
- Blockchain and distributed ledger technology development
- NFT platforms and creators
- Digital asset consultancies
- Crypto project incubation and innovation hubs
Additionally, companies enjoy 100% foreign ownership, tax exemptions, and the ability to repatriate profits, all within a safe and innovation-driven environment.
- Strategic Location and Global Connectivity
Ras Al Khaimah’s proximity to Dubai and its access to world-class logistics and communication infrastructure make it a smart base for international entrepreneurs. You can easily manage operations across the UAE and beyond while benefiting from RAK’s lower operational costs and simpler setup rules.
To understand how RAK compares to other UAE zones, read our blog on the Difference Between Mainland and Freezone in UAE.
Step-by-Step Guide to Starting a Digital Asset Company in RAK
Starting your blockchain or digital asset business in RAK is straightforward when guided by experts. Here’s a quick breakdown of the process:
Step 1: Choose Your Business Activity
Select from permitted digital activities — such as blockchain development, digital asset consultancy, or NFT platform operations.
Step 2: Apply for Trade License
Submit your business plan and relevant documents to RAK DAO. Approval usually happens within 48 hours.
Step 3: Lease Your Office Space
Choose between a flexi-desk, co-working space, or a physical office, depending on your operational needs.
Step 4: Open a Corporate Bank Account
RAK-based companies can easily open multi-currency accounts with UAE banks or fintech institutions.
Step 5: Hire and Sponsor Visas
Once licensed, you can sponsor employee visas and hire staff as per your activity requirements.
If you’re unsure which free zone fits your business best, explore our detailed post on the List of Freezones in UAE.
Advantages of RAK for Blockchain Startups
- Low business setup cost
- Quick license issuance (within 48 hours)
- No VARA approval for specific activities
- Full foreign ownership and profit repatriation
- Supportive ecosystem for Web3, AI, and digital ventures
- Tax-friendly policies (0% corporate and income tax)
All these benefits make Ras Al Khaimah the best choice for launching your blockchain, crypto, or NFT venture in the UAE.
Ready to register your company? Connect with Raes Associates today for seamless end-to-end support.
Cost and Timeline Overview
Activity | Estimated Cost | Timeframe |
Trade License & Registration | AED 12,000–18,000 | 1–2 days |
Flexi-Desk / Shared Office | AED 5,000–8,000 | Same day |
Visa & Establishment Card | AED 3,000–5,000 | 3–5 days |
Total Estimated Cost: AED 20,000–30,000 (approx.)
Total Time to Launch: Less than a week with expert help from Raes Associates.
Why Choose Raes Associates for RAK Company Formation
Raes Associates is your trusted partner for company formation in UAE, helping entrepreneurs set up their businesses efficiently and legally. With expertise in blockchain, fintech, and Web3 company registrations, Raes Associates ensures:
- Smooth documentation and approvals
- Transparent cost breakdown and advisory
- Fast-tracked setup under RAK DAO’s ecosystem
Whether you’re a startup founder or an established enterprise exploring expansion in the UAE, Raes Associates provides the expertise and network you need to thrive.
📞 Ready to start your blockchain company in RAK?
Talk to Raes Associates today and get your license issued within 48 hours!
