Annual audit
Statutory audit of your IFRS financial statements for RAKEZ, banks and corporate tax.
RAKEZ Audit Services: Audit, Accounting and Tax for Ras Al Khaimah Economic Zone Companies
RAKEZ (Ras Al Khaimah Economic Zone) was formed in 2017 by merging RAK Free Trade Zone and RAKIA. RAKEZ companies submit audited IFRS financial statements each year under the RAKEZ Companies Regulations, and every company registers for UAE corporate tax, where 0% applies only to a Qualifying Free Zone Person. SGA World provides audit, accounting, VAT and tax for RAKEZ and former RAK FTZ companies.
- Ministry of Economy and Tourism approved auditor
- 500+ clients
- Dubai & Abu Dhabi
RAKEZ at a glance
- Formed
- 2017, merging RAK FTZ and RAKIA
- Licences
- Free zone and non-free zone
- Annual audit
- Audited IFRS accounts each year
- Corporate tax
- 0% QFZP / 9% standard
- Focus
- Industry, trading, services, e-commerce
RAKEZ (Ras Al Khaimah Economic Zone) is the economic zone authority of Ras Al Khaimah, formed in 2017 when RAK Free Trade Zone and the RAK Investment Authority (RAKIA) were merged. It licenses thousands of companies, from industrial manufacturers in its industrial parks to traders, consultants and e-commerce businesses. RAKEZ companies submit audited financial statements every year, and every company deals with UAE corporate tax and VAT.
SGA World provides audit, accounting, bookkeeping, VAT and corporate tax services for RAKEZ and former RAK Free Trade Zone companies, from our office in Business Bay, Dubai.
Working across several zones? See our overview of all UAE free zones.
- RAK FTZ and RAKIA merged to form RAKEZ
- 2017
- Audited IFRS accounts each year
- Annual
- Free zone and non-free zone
- Two licence types
- Corporate tax for QFZPs and others
- 0% / 9%
At a glance
RAKEZ Companies: Key Facts
- Authority: RAKEZ, which replaced RAK Free Trade Zone and RAKIA in 2017.
- Audit: companies submit audited financial statements each year under the RAKEZ Companies Regulations.
- Accounts: prepared under IFRS and audited by an auditor the authority accepts.
- Licence type: RAKEZ issues free zone and non-free zone licences; only a free zone person can be a QFZP.
- Corporate tax: every company registers and files within 9 months of the year end.
- VAT: some RAK zones, including RAK Free Trade Zone, are designated zones for goods; check your location.
Our services
Which Services Do We Provide for RAKEZ Companies?
Bookkeeping and accounting
Monthly books, inventory and cost accounting, and year-end statements.
Corporate tax and QFZP
Licence review, QFZP or small business relief, and the annual return.
VAT
Registration, returns and designated zone treatment where it applies.
Transfer pricing
Group supplies, services and loans at arm's length.
Payroll
Monthly payroll, gratuity and leave for factory and office staff.
About the zone
What Is RAKEZ?
RAKEZ is the single economic zone authority for Ras Al Khaimah. It offers business centres for service companies and large industrial parks for manufacturers, with access to Ras Al Khaimah's ports and road links to Dubai and the other northern emirates.
RAKEZ is home to:
- manufacturing in sectors such as building materials, ceramics, food, plastics and metals;
- general trading and distribution;
- consultancy and professional services;
- e-commerce, media and technology start-ups;
- logistics and warehousing.
RAKEZ issues free zone licences and non-free zone licences for companies that want to trade directly in the UAE market. Which one you hold decides your corporate tax options.
RAK FTZ
What Happened to RAK Free Trade Zone (RAK FTZ)?
RAK Free Trade Zone was Ras Al Khaimah's original free zone. In 2017 it was merged with the RAK Investment Authority (RAKIA) to form RAKEZ, and existing RAK FTZ companies became RAKEZ companies.
If your licence or documents still mention RAK FTZ:
- your company is now regulated by RAKEZ and follows the RAKEZ Companies Regulations;
- your annual audit and licence renewal are handled through RAKEZ;
- the VAT designated zone listing for "RAK Free Trade Zone" in Cabinet Decision No. 59 of 2017 can still matter for goods held in those areas.
SGA World supports both long-standing former RAK FTZ companies and new RAKEZ licences.
Your licence matters
How Does Your RAKEZ Licence Affect Tax?
| Point | Free zone licence | Non-free zone licence |
|---|---|---|
| 0% corporate tax as a QFZP | Possible on qualifying income, if all conditions are met | Not available |
| Standard corporate tax | 9% on income that does not qualify | 0% up to AED 375,000, 9% above |
| Small business relief | Not available if a QFZP | Available if revenue is up to AED 3 million |
| Annual audit | Required under RAKEZ rules and for QFZP | Required under RAKEZ rules |
| Trading in the UAE market | May need extra permits | Designed for local trading |
We confirm your licence type and tax position at the start of every engagement.
Choosing an auditor
What Should a RAKEZ Company Look For in an Auditor?
RAKEZ expects audited financial statements from an auditor it accepts. A report that does not meet its rules can delay your licence renewal.
When you appoint an auditor for a RAKEZ company, check that:
- the firm is accepted by RAKEZ;
- the audit partner is a registered auditor with the UAE Ministry of Economy and Tourism;
- the team understands manufacturing, inventory and fixed assets for industrial companies, or service revenue for consultancies;
- the same audited accounts can be used for your corporate tax return and any QFZP claim.
SGA World audits RAKEZ companies and plans the work around your renewal date and the corporate tax deadline.
Tax
How Do Corporate Tax and VAT Apply in RAKEZ?
Corporate tax. Every RAKEZ company must register for corporate tax. A free zone company that meets all the conditions to be a Qualifying Free Zone Person pays 0% on qualifying income, such as manufacturing and processing of goods, logistics services and distribution of goods in or from a designated zone to customers who resell or process them, and 9% on other taxable income. Non-qualifying revenue must stay within the lower of 5% of revenue or AED 5 million, and audited accounts are a condition of QFZP status. Service companies with revenue up to AED 3 million often find small business relief simpler, but a QFZP cannot use it.
VAT. Cabinet Decision No. 59 of 2017 lists RAK Free Trade Zone, RAK Maritime City Free Zone and RAK Airport Free Zone as designated zones. Some supplies of goods in these areas can be outside the scope of VAT, while services are taxed normally. Other RAKEZ locations follow normal VAT rules, so check your premises.
See our QFZP guide and Small Business Relief guide.
Worked example
Example: A RAKEZ Manufacturer Selling in the UAE and Abroad
A RAKEZ ceramics manufacturer in an industrial park sells tiles to distributors in the UAE and exports to Saudi Arabia.
- Licence: it holds a free zone licence, so QFZP is possible.
- QFZP: manufacturing is a qualifying activity; sales to UAE distributors who resell, and exports, can be qualifying, while sales to end users are not.
- Audit: RAKEZ requires audited accounts; the auditor attends the year-end stock count.
- VAT: exports are zero-rated with evidence; local sales are taxed at 5%.
What to prepare
What Documents Do We Need for a RAKEZ Audit?
Company documents
RAKEZ licence, memorandum and articles, and share register.
Accounts
Trial balance, ledgers, bank statements and confirmations.
Inventory and production
Stock counts, costing and production records.
Fixed assets
Plant and machinery register.
Exports
Export declarations and shipping documents.
Tax
Corporate tax registration, VAT returns and the chosen tax route.
Fees and timing
How Long Does a RAKEZ Audit Take and What Affects the Fee?
Fieldwork usually takes one to three weeks once the books are closed. Plan it at least two months before any licence renewal or bank deadline, and well inside the corporate tax filing date.
The fee depends on inventory, fixed assets, export volume, related parties, the condition of the books and whether corporate tax work is included. We confirm a fixed fee after reviewing your trial balance.
How we work
How Does Our RAKEZ Audit Process Work?
Step01
Plan
Review your licence type and agree the timetable around your renewal date.
Step02
Fieldwork
Test revenue, inventory, fixed assets and bank balances, and attend stock counts where needed.
Step03
Report
Agree adjustments and issue the audited IFRS financial statements.
Step04
Submit and file
Submit to RAKEZ and use the same figures for your corporate tax return.
Why SGA World
Why Choose SGA World for RAKEZ Audit Services?
We check the RAKEZ rules first
We confirm the current RAKEZ requirements for your licence before planning the audit and tax filings.
Ministry-approved audit firm
SGA World is a Ministry of Economy and Tourism approved audit firm, so our reports are accepted where it matters.
Audit and tax in one team
Auditors, VAT, corporate tax and transfer pricing specialists work together, so nothing falls between advisers.
Qualified chartered accountants
A team of chartered accountants qualified in India and the UK, focused on UAE rules.
500+ clients
Mainland and free zone companies, from start-ups and SMEs to regional groups.
Listed with major UAE banks
Our audit work is recognised by major UAE banks for facilities and account reviews.
Industries
Which RAKEZ Industries Do We Support?
Manufacturing and industrial parks
- Production costing and stock counts
- Plant, machinery and depreciation
- Qualifying manufacturing income
Building materials and ceramics
- Raw material stockpiles
- Energy and overhead absorption
- Export evidence for zero-rating
General trading
- Inventory and landed costs
- Mainland sales against the de minimis limit
- Customs records
Consultancies and services
- Time-based billing
- Small business relief or QFZP
- VAT on cross-border services
E-commerce and start-ups
- Marketplace reconciliations
- VAT on sales to UAE consumers
- Low-cost bookkeeping
Avoid problems
Common Mistakes RAKEZ Companies Make
Not knowing the licence type
Wrong corporate tax position
Leaving the audit until renewal week
Licence renewal is delayed
Assuming all RAKEZ locations are designated zones
VAT may be due on goods
No year-end stock count in factories
Qualified audit opinion on inventory
Claiming 0% without audited accounts
QFZP status is lost
Electing small business relief as a QFZP
A QFZP cannot use small business relief
RAKEZ desk
Get Your RAKEZ Audit and Tax Done on Time
Tell us your licence type, activity and financial year end. We will plan the audit and tax filings around your renewal.
We handle
- Annual audit for RAKEZ
- Bookkeeping and cost accounting
- Corporate tax, QFZP or small business relief
- VAT and designated zone treatment
- Transfer pricing and payroll
Location: Dubai
Dubai Office
Our Dubai office in The Exchange Tower, Business Bay serves RAKEZ companies and free zone companies across the northern emirates.
Dubai
Office 1923, The Exchange Tower, Business Bay, Dubai
Abu Dhabi
Khalidiya Towers M-B6, W10, Al Bateen, Al Khalidiyah, Abu Dhabi
Talk to an auditor
Tell us your company type, jurisdiction and deadline. We will confirm the scope, timeline and fee.
- WhatsApp us+971 50 627 3556
- Call us+971 4 570 1795
- Email us[email protected]
- Book an appointmentChoose a time that suits you
Prefer a form? Send us a detailed enquiry.
Who prepared this page
Written and reviewed by SGA World's audit and tax team
This guide is prepared by chartered accountants at SGA World Auditing Accounting L.L.C S.P.C in Business Bay, Dubai, a Ministry of Economy and Tourism approved audit firm, and checked against Federal Tax Authority legislation and guidance. It is reviewed whenever the rules change.
- Last reviewed 12 October 2026
- Chartered accountants from India and the UK
- FTA representation through Saif Chartered Accountants
Have a question about your company?
Tell us your activity, jurisdiction and deadline. A chartered accountant will reply.
Ask an expertFrequently asked questions
RAKEZ Audit and Accounting – FAQs
Short answers to the questions UAE businesses ask us most. Still unsure?
Talk to our team01.Is RAK Free Trade Zone the same as RAKEZ?
RAK Free Trade Zone merged with the RAK Investment Authority (RAKIA) in 2017 to form RAKEZ. Former RAK FTZ companies are now regulated by RAKEZ.
02.Do RAKEZ companies need an annual audit?
Yes. RAKEZ companies submit audited financial statements each year under the RAKEZ Companies Regulations, prepared under IFRS.
03.Can a RAKEZ company pay 0% corporate tax?
Only a free zone company that meets all the conditions to be a Qualifying Free Zone Person, and only on qualifying income. Non-free zone licence holders are taxed under the standard rules.
04.Is RAKEZ a designated zone for VAT?
RAK Free Trade Zone, RAK Maritime City Free Zone and RAK Airport Free Zone are listed as designated zones in Cabinet Decision No. 59 of 2017. Other RAKEZ locations follow normal VAT rules, so check your premises.
05.Which services does SGA World provide for RAKEZ companies?
Audit, bookkeeping and cost accounting, corporate tax and QFZP reviews, VAT, transfer pricing and payroll.
06.How long does a RAKEZ audit take?
Usually one to three weeks, longer for manufacturers with significant inventory.
07.Do RAKEZ non-free zone licence holders need an audit?
RAKEZ companies submit audited accounts under the RAKEZ Companies Regulations; confirm the requirement for your licence type.
08.Can a RAKEZ manufacturer pay 0% corporate tax?
A free zone licence holder that meets all QFZP conditions can pay 0% on qualifying income, such as manufacturing income.
09.Is our Dubai office convenient for RAKEZ companies?
Yes. We serve RAKEZ clients from our Dubai office and visit for stock counts and fieldwork when needed.
References:RAKEZ · Federal Tax Authority · UAE Ministry of Finance — reviewed 14 October 2026
