In 2023, Ras Al Khaimah initiated RAK DAO (Ras Al Khaimah Digital Assets Oasis) as a free zone independent authority. The authority is considered a haven for digital nomads and entrepreneurs looking to build virtual assets firms.
His Highness Sheikh Saud Bin Saqr Al Qasimi had the vision to build a remarkable future in the RAK. Hence, the RAK DAO was introduced. Its numerous advantages, including hybrid workspaces and assistance from professional experts, make it a top-tier choice for digital and virtual assets companies.
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Setting up a business in RAK DAO offers countless benefits for businesses operating in the digital asset and Web3 space. Here are some key advantages:
The first step is to establish a digital assets company and choose from different types of registration including a freelance permit, digital nomad license, or a standard company.
You need to submit all the required documents, including business activity, and important documents from shareholders, managers, and directors.
Submit all the required documents and pay the fees in cryptocurrency. After submission, you will receive your license after it is approved.
Ras al Khaimah Free Zones offer numerous advantages when it comes to company formation. There are some legal restrictions or requirements that you need to consider when setting up a company in RAK DAO.
RAK DAO is primarily designed for businesses operating in the digital asset and Web3 industry. Ensure your proposed business activity aligns with this focus!
Adhere to the specific regulations and guidelines set forth by RAK DAO and other relevant authorities.
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