Paperwork or physical visits are no longer required. Image Credit: Supplied

Entrepreneurs in Ras Al Khaimah will now be able to receive their business licences in less than five minutes.

With paperwork or physical visits no longer required, the ‘instant business licence’ rolled out by the Ras Al Khaimah Economic Zone (RAKEZ) will help speed up the setting up of businesses.

“One can simply visit the RAKEZ website to choose a package and business activities, make the payment and receive their licence and start business operations in no time,” the economic zone said in a statement.

“RAKEZ is the first economic zone in the UAE to offer the instant licence to free zone businesses. We are glad to present instant business licence to all investors out there, who are ready to set up their ventures and start operations in the UAE in less than five minutes. With just a few clicks, our dynamic platform allows investors to choose a business name, add shareholders’ details, and select business activities and package, to legally start conducting business right away with a valid licence. This really couldn’t get any simpler,” said RAKEZ Group CEO Ramy Jallad.

At the moment, entrepreneurs can choose business packages starting from Dh5,499 with options for adding multiple activities and visas.