# Innovation City (INC)

> INC publishes 4 current packages, the lowest without stated conditions at AED 6,600 for year 1, offers up to 4 visas in a published package, states incorporation in 5 days and requires at least a flexi-desk (checked 2026-10-24).

Innovation City (INC) is a technology and general business free zone in Ras Al Khaimah, licensed by Innovation City Authority (formerly Ras Al Khaimah Digital Assets Oasis), an independent RAK government authority established under RAK Law No. 2 of 2023, established in 2023.

- Emirate: Ras Al Khaimah
- Licensing authority: Innovation City Authority (formerly Ras Al Khaimah Digital Assets Oasis), an independent RAK government authority established under RAK Law No. 2 of 2023
- Official website: https://innovationcity.com
- Also known as: RAK Innovation City
- Last checked: 2026-10-24
- Page: https://freezoneguide.com/uae/ras-al-khaimah/rak-innovation-city

## Key facts

| Fact | Value |
| --- | --- |
| Solo, no visa (year 1): one founder, no residence visa, no office beyond a desk or virtual address, one activity | AED 6,600 (Idea) |
| Founder + 1 visa (year 1): one founder with one residence visa, flexi-desk or virtual office | AED 13,200 (Seed) |
| Team, 3 visas (year 1): three residence visas, flexi-desk or small office | AED 15,400 (Startup) — Startup: the smallest published package covers 4 visas |
| Lowest package of any size, without stated conditions (year 1) | AED 6,600 (Idea) |
| Lowest licence fee | AED 6,600 |
| Largest visa quota in a package | 4 |
| Minimum office | Flexi-desk |
| Licence types | Trading, General trading, Services / consultancy, E-commerce, Holding, Other |
| Minimum share capital | Not published |
| Incorporation time (stated) | 5 days |
| On the FTA VAT Designated Zone list | Not published |

## Packages

| Package | Year 1 | Renewal | Visa quota | Office | Includes | Excludes |
| --- | --- | --- | --- | --- | --- | --- |
| Idea | AED 6,600 | AED 6,600 | 0 | Flexi-desk | multiple shareholders allowed; 10 standard or custom activities; shared desk at Innovation HQ; unlimited refreshments at Innovation HQ; access to Innovation HQ event space and content creator studio | premium activities; additional visas; premium office space |
| Seed | AED 13,200 | AED 13,200 | 1 | Flexi-desk | 1 visa included (capped at 1); 1 shareholder (2 under October limited-time offer); 1 custom or premium activity (5 allowed under October limited-time offer); shared desk at Innovation HQ; unlimited refreshments at Innovation HQ; access to Innovation HQ event space and content creator studio | premium activities; additional visas; premium office space |
| Startup | AED 15,400 | AED 15,400 | 4 | Flexi-desk | 1 visa included (capped at 4); multiple shareholders allowed; 10 standard or custom activities; shared desk at Innovation HQ; unlimited refreshments at Innovation HQ; access to Innovation HQ event space and content creator studio | premium activities; additional visas; premium office space |
| Growth | AED 22,550 | AED 22,550 | 4 | Flexi-desk | 1 visa included (capped at 4); multiple shareholders allowed; 10 standard or custom activities; dedicated desk at Innovation HQ; unlimited refreshments at Innovation HQ; access to Innovation HQ event space and content creator studio | premium activities; additional visas; premium office space |

## Identity and legal basis

- Official name (Arabic): هيئة مدينة الابتكار
- Former, merged or alternative names: RAK Innovation City
- Licensing / regulating authority: Innovation City Authority (formerly Ras Al Khaimah Digital Assets Oasis), an independent RAK government authority established under RAK Law No. 2 of 2023
- Parent group / government body: Government of Ras Al Khaimah; affiliated with the RAK Department of the Future (per 2023 establishment announcement)
- Zone type: Technology, General business
- Year established: 2023
- Official website: https://innovationcity.com
- Listed on the Ministry of Economy and Tourism register of free-zone company registrars: Yes

Physical locations / campuses: Innovation HQ, RAKBANK Building, Floor 8, PO Box 30099, Ras Al Khaimah (per FAQ); RAK BANK ROC Office, Ground Floor, Al Rifaa, Sheikh Mohammed Bin Zayed Road, Ras Al Khaimah #30099 (per site footer). [1] Public contact email: cx@innovationcity.com. [1] Public contact phone: +971 7 2092222. [2]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/)

## Business activities

- Official approved activity list: https://innovationcity.com/cost-calculator
- Licence types offered: Trading, General trading, Services / consultancy, E-commerce, Holding, Other
- General trading licence available: Yes

Activity categories offered: Artificial Intelligence; Robotics & Physical AI; Web3; Gaming & Interactive Media; Digital Health; Creator Economy; Transportation Technology; Blockchain; Cybersecurity; Education Technology; Climate & Resource Technology; Other Sectors. [1] Activities included in base licence: 10. [2] Activities needing another authority's approval: Activities within the Capital Market Authority (CMA) regulatory mandate, including regulated virtual-asset services (CMA licence required); Healthtech activities that may need UAE health authority approvals. [3] Restricted activities: iGaming (online gambling and betting) cannot be licensed; Regulated activities within the CMA mandate cannot be undertaken without a full CMA licence. [4]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/sectors) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/packages) · [3] [Zone website (opened 2026-10-24)](https://innovationcity.com/) · [4] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Cost - year one

- Lowest licence fee (zero-visa): AED 6,600

Cost per visa: AED 4,400. [1] Visa fees: AED 4,400 per additional visa, stated as including entry permit, medical, biometrics and stamping; the visa fee is also stated to include E-Channel, Emirates ID, insurance and status change. No itemised amounts published. [1] Extras included: Shared desk workspace at Innovation HQ (dedicated desk on Growth); Unlimited refreshments at Innovation HQ; Event space access; Content creator studio access; High-speed internet; Meeting room access; Banking setup support with partner banks. [1]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Cost - ongoing

Renewal costs more than the first-year price: no. [1] Late renewal penalty: Failure to pay the annual renewal fee or any late-payment fine by the due date, or to deliver the annual return, is grounds for strike-off by the Registrar (Companies Regulations Reg. 135(1)(B)). Fine amounts are set in a schedule of fines that is not published on the site. [2] Multi-year licence discounts: Published multi-year totals (AED): Idea 6,600 / 11,880 / 16,830 / 22,440 / 28,050 / 56,100 for 1/2/3/4/5/10 years; Seed 13,200 / 25,080 / 35,640 / 47,520 / 56,100 / 99,000; Startup 15,400 / 29,260 / 41,580 / 55,440 / 65,450 / 115,500; Growth 22,550 / 42,845 / 60,885 / 81,180 / 95,838 / 169,125. [1] Current promotions and expiry: Seed package "October Limited-time Offer": 2 shareholders (was 1) and up to 5 custom or premium activities (was 1); end date not stated; Tabby partnership: setup cost can be split into interest-free payments (zone guide page; dates not stated). [3]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/rules-and-regulations) · [3] [Zone website (opened 2026-10-24)](https://innovationcity.com/packages)

## Visas and residency

Visa quota rule: Visa allowance is set per package: Idea 0; Seed 1 (capped at 1); Startup 1 included, capped at 4; Growth 1 included, capped at 4. More than 4 visas by arrangement with the zone. No sqm-based rule published. [1] Max visas without dedicated office: 4. [1] How to increase quota and cost: Add visas within the package cap at AED 4,400 each; upgrade package any time by paying the price difference (no amendment fee per FAQ); more than 4 visas by contacting the zone. [2] Dependant / family visa sponsorship allowed: yes. [2]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/packages) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Office and facilities

- Minimum facility requirement: Flexi-desk
- Office / facility types: Flexi-desk, Private office

Meeting rooms, co-working, amenities: Meeting rooms; Event space; Content creator studio; High-speed internet; Refreshments; Mail handling and forwarding (service offered); Parking. [1]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Legal structure and ownership

- Entity types available: Other, Branch of a foreign company, Special purpose vehicle
- Legal system: UAE civil law

Minimum shareholders: 1. [1] Maximum shareholders: 50. [1] Corporate shareholders allowed: yes. [2] Foreign corporate shareholders allowed: yes. [2] Share capital must be paid in: yes. [1] Courts and arbitration: Ras Al Khaimah Courts. [3] Holding company / SPV regime: yes. [3]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/rules-and-regulations) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/company-formation/application-process) · [3] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Market access and customs

- Physical operations on the mainland allowed without an extra licence: No

## Tax status

Help with corporate tax registration: yes. [1] Corporate-tax statements above come from the zone or from general FTA guidance. The schedule of Free Zones under Cabinet Resolution 54/2023 was not available to this research, and the FTA advises taxpayers to confirm their Free Zone or Designated Zone status with the Free Zone authority. The 0% rate applies only to the Qualifying Income of a Qualifying Free Zone Person that meets all conditions; other income is taxed at the standard rate.

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Compliance and reporting

- Annual audited financial statements required by the zone: Yes
- Beneficial-owner register filing required: Yes

Audit exemption threshold or conditions: No exemption threshold published. The Authority may waive the requirement to prepare and audit accounts through Implementing Regulations (Reg. 112(d)); none found on the site. [1] Audit submission deadline: Accounts prepared, approved and audited within 6 months after financial year end; copy filed with the Registrar within 7 days of a Registrar direction. [1] Substance requirements enforced by zone: Registered office in the Zone at all times; principal business activity carried on in the Zone unless the Authority permits otherwise (Companies Regulations Reg. 20). [1] Annual return and renewal documents: Annual Return; Updated Client Confirmation Letter; Updated KYC documents if any have expired. [2] Data protection law applicable: Federal Decree-Law No. 45 of 2021 (UAE Personal Data Protection Law); no zone-specific data protection law. [3]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/rules-and-regulations) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/document-checklist) · [3] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Banking

- Zone offers bank-account facilitation: Yes

## Setup process and speed

- Typical incorporation time stated by the zone: 5 days
- Direct application without an agent: Yes

Documents for an individual shareholder: Passport copy; Proof of address (utility bill, bank statement or tenancy contract); Emirates ID and UAE visa (if applicable); Source of wealth (for investments above USD 250,000); Business plan; Power of attorney (if applicable). [1] Attestation requirements for corporate shareholders: Corporate shareholders provide certificate of incorporation, MOA/AOA, board resolution, certificate of incumbency or good standing (issued within 3 months), UBO documents; all documents must be valid and "duly attested as per the jurisdiction of registration". [1] Trade name rules: Name approved by the Registrar; must end with Limited/Ltd, Incorporated/INC, Unlimited/Unltd, CLS or CLG as applicable (PLC, PJSC, SPC, SPV suffixes for those forms). Prohibited: words suggesting government connection (Emirate, UAE, INC, bank, insurance etc.), "RAK"/"Ras Al Khaimah" without written approval, religious or royal names, symbols, duplicate or trademark-conflicting names. [2] Refund policy if rejected: Refund may be approved if the activity falls under a regulated area or a premium activity is not approved; AED 2,500 deducted per case for immigration pre-approval rejection, non-disclosure or fraud. In other unsuccessful cases the Authority may keep fees as a deposit for the registered agent minus AED 250 immigration charges. Requests to bd@innovationcity.com. [3]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/company-formation/application-process) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/rules-and-regulations) · [3] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/terms-conditions)

## Operations, ecosystem and flexibility

Moving to larger premises: Upgrade between packages at any time by paying the price difference (no amendment fee); additional visas, premium activities and premium office space can be added. No warehouse tier found. [1] Adding shareholders: Shareholders added or removed by an amendment process; fees not published. Seed package limited to 1 shareholder (2 under October offer). [1] Moving a company in or out (re-domiciliation): yes. [2] Multi-year licence options: 1 year; 2 years; 3 years; 4 years; 5 years; 10 years. [1]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/policy/rules-and-regulations)

## Industry-specific regulation

Virtual-asset regulator and licences: Innovation City licenses non-regulated Web3/DAO activities only. The home page says it is "a commercial freezone": any activity in the regulatory mandate must be submitted to the CMA (Capital Market Authority; site links to sca.gov.ae and its partner page describes the Securities and Commodities Authority) and cannot start until a full CMA licence or approval is held. Zone-licensed Web3 activities include DAO Associations (DAO Association Regulations 2024; tokens must not be security tokens or regulated by a UAE financial regulator) and premium activities such as Node Operator, Blockchain Oracle and DAO activities. Guidance page lists Cabinet Resolution 111/2022, SCA Chairman Decision 26/2023 (VA platform operator), CBUAE Payment Token Services Regulation and a "Resolution No. (04/Chairman) of 2026" on VASPs. [1] Financial services regulator and capital requirements: Regulated financial and capital-market activities are outside the zone's licensing and need a CMA (federal capital-market regulator) licence; the FAQ also lists RAK Courts, not a financial-centre court. No capital requirements published. [1] Healthcare and education approvals: Healthtech activities may need additional approvals from UAE health authorities depending on the activity (zone FAQ). No education approval notes found. [2]

Sources: [1] [Zone website (opened 2026-10-24)](https://innovationcity.com/) · [2] [Zone website (opened 2026-10-24)](https://innovationcity.com/faq)

## Notes and history

- **Legal basis (2023-03-20):** The zone was set up by the Ruler of Ras Al Khaimah under Law No. 2 of 2023, announced on 20 March 2023, as Ras Al Khaimah Digital Assets Oasis: an independent government authority with financial, administrative and legislative independence, affiliated with the emirate's newly created Department of the Future. The zone's Companies Regulations 2023 are issued by the authority's board under the same law. [source](https://www.rakmediaoffice.ae/en/media-center/press-releases/ruler-of-ras-al-khaimah-issues-law-to-establish-worlds-first-free-zone-dedicated-to-digital-and-virtual-asset-companies/) [source](https://innovationcity.com/policy/rules-and-regulations)
- **Names (2025-09-18):** Ras Al Khaimah Digital Assets Oasis (RAK DAO) rebranded and relaunched as Innovation City (INC) on 18 September 2025, and the former website rakdao.com now redirects to innovationcity.com. The Ministry of Economy and Tourism lists the registrar as Innovation City (هيئة مدينة الابتكار). [source](https://www.rakmediaoffice.ae/en/media-center/press-releases/rak-digital-assets-oasis-relaunches-as-innovation-city/) [source](https://www.moet.gov.ae/en/company-registrars-in-free-zones)
- **History (2025-09-18):** With the September 2025 relaunch, the zone widened its focus beyond digital assets to five initial areas: Web3 and digital assets, artificial intelligence, gaming and iGaming, robotics, and healthtech and digital health. The announcement also said land in Ras Al Khaimah would be developed into infrastructure for technology companies; no location was given. [source](https://www.rakmediaoffice.ae/en/media-center/press-releases/rak-digital-assets-oasis-relaunches-as-innovation-city/)
- **Good to know:** The zone's website states that Innovation City is a commercial free zone, and that any activity within the regulatory mandate of the Capital Market Authority (CMA) must be submitted to the CMA and cannot be carried out until the company holds the CMA's full licence or approval. [source](https://innovationcity.com/)

## FAQ

### How much does a INC licence cost?

The lowest package INC advertises is AED 6,600 for the first year (Idea), renewing at AED 6,600. Packages differ in what they include, so check visas, office and fees before comparing.

### Does INC require a physical office?

The minimum facility INC states is: flexi-desk. Facility types offered: flexi-desk, private office.

### How many visas come with a INC package?

The largest visa quota in a package INC publishes is 4. Larger quotas usually need more office space; ask the zone for the rule that applies to you.

### How long does INC company setup take?

INC states about 5 days for incorporation. Visas take extra time after the licence is issued.

### Can I get a general trading licence in INC?

Yes, INC offers a general trading licence.

## Compare with

- [INC vs RAKEZ](https://freezoneguide.com/uae/compare/custom?z=rak-innovation-city&z=rakez)
- [INC vs MCFZ](https://freezoneguide.com/uae/compare/custom?z=masdar-city&z=rak-innovation-city)
- [INC vs AMCFZ](https://freezoneguide.com/uae/compare/custom?z=ajman-media-city&z=rak-innovation-city)

Rules that apply to every zone: [corporate tax](https://freezoneguide.com/guides/qualifying-free-zone-person-corporate-tax.md), [VAT Designated Zones](https://freezoneguide.com/guides/vat-designated-zones.md), [mainland access](https://freezoneguide.com/guides/free-zone-vs-mainland.md)

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Information collected from free-zone authorities and UAE government sources on the dates shown. Fees and rules change; the zone's current schedule prevails. Not legal, tax or financial advice.
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Source: FreezoneGuide (https://freezoneguide.com/). AED, as published by each zone on its official channels. Information collected from free-zone authorities and UAE government sources on the dates shown. Fees and rules change; the zone's current schedule prevails. Not legal, tax or financial advice.