Question 1

Can I develop AI products at Innovation City?

Accepted Answer

Yes, we provide intelligent infrastructure for AI builders to automate, accelerate, and scale. We support various AI activities including AI development, machine learning, and AI consultancy.

Question 2

How many visas can I get with each package?

Accepted Answer

The number of visas depends on your chosen package:

Idea Package: 0 visas

Seed Package: 1 visa (capped at 1)

Startup Package: 1 visa included (capped at 4)

Growth Package: 1 visa included (capped at 4)

Additional visas can be purchased for AED 4,400 per visa (including entry permit, medical, biometrics, and stamping).

Question 3

How can I contact Innovation City?

Accepted Answer

You can reach us through:

Email: cx@innovationcity.com

Phone: +971 7 2222325

Website: https://innovationcity.com/

Address: RAKBANK Building, Floor 8, Post Box #30099, Ras Al Khaimah

Question 4

Can I set up a healthtech company at Innovation City?

Accepted Answer

Yes, we support healthtech companies with data partnerships, clinical networks, AI diagnostics enablement, and regional market access.

Question 5

What payment methods do you accept?

Accepted Answer

We accept multiple payment methods including bank transfer, credit/debit card, cheque (if applicable), and cryptocurrency payments.

Question 6

Which banks do you partner with?

Accepted Answer

We partner with several banks to provide simultaneous banking setup:

RAKBANK: Local onboarding, dirham business banking, payroll services

Ruya Bank: Zero-balance corporate account (AED 79 monthly)

WIO Bank: Priority account opening + dedicated partner desk (Dedicated Corporate code for onboarding )

Amina Bank: Institutional-grade custody services

Ibanera: Multi-currency global banking for Web3 startups

CBI: Local banking services

M Bank

Question 7

Do you have a physical office I can visit?

Accepted Answer

Yes, our headquarters are located at RAKBANK Building, Floor 8, in Ras Al Khaimah. Please contact us to schedule a visit.

Question 8

What are the multi-year pricing options?

Accepted Answer

We offer discounted multi-year packages:

All prices are in AED.

Question 9

Can I set up a gaming company at Innovation City?

Accepted Answer

Yes, we support gaming companies and offer licensing, infrastructure partners, events, and global player reach.

Question 10

Are there any hidden fees?

Accepted Answer

No. Our packages are all-inclusive and transparent. The package price includes license fees, lease fees, and workspace. Additional costs only apply if you add extra visas, premium activities, or upgrade to premium office space.

Question 11

What does the visa fee include?

Accepted Answer

The visa fee includes E-Channel, Entry Permit, Visa Stamping, Medical examination, Emirates ID, Insurance, and Status Change.

Question 12

Do you help me open a bank account?

Accepted Answer

Yes — one of the benefits of Innovation City is simultaneous banking setup. We partner with banks and support you with setting up your corporate bank account as you establish your company. Our banking partners include RAKBANK, Ruya Bank, WIO, and M Bank.

Question 13

Do you support quantum computing companies?

Accepted Answer

Yes, quantum computing is one of the futuristic industries we support at Innovation City.

Question 14

Do you offer consultation services?

Accepted Answer

Yes, our team is available to discuss your business needs and guide you through the setup process. Please reach out to us to schedule a consultation.

Question 15

Can I become a referral partner?

Accepted Answer

Yes, we have a Referral Partner program where you can earn incentives for referring clients to Innovation City.

Question 16

Can I change my business activities after registration?

Accepted Answer

Yes, you can amend your business activities. Amendment fees may apply depending on the type of change.

Question 17

What is Innovation City?

Accepted Answer

Innovation City is Ras Al Khaimah’s premium innovation and technology-focused free zone, purpose-built for modern futuristic industries. As a strategic engine for the emirate, Innovation City combines startup agility with institutional rigor to help ambitious businesses establish, operate, and scale with confidence.

Question 18

Do I need to pay corporate tax when setting up a company in Innovation City?

Accepted Answer

Companies registered in Innovation City may be subject to UAE Corporate Tax depending on their business activities and whether they earn qualifying income. We recommend that all clients consult a qualified tax advisor to understand how the law applies to their specific case.
If you are comfortable managing this directly, you can register for Corporate Tax through the Federal Tax Authority (FTA) portal.

Question 19

Do I need special medical licenses?

Accepted Answer

Depending on your specific healthtech activity, you may need additional approvals from UAE health authorities. Our team will guide you through the requirements.

Question 20

Can I open a bank account before getting my license?

Accepted Answer

No, you need to have your business license first before opening a corporate bank account.

Question 21

Can I expedite the process?

Accepted Answer

We already offer the fastest path to licensing. However, the timeline depends on how quickly you can provide complete and accurate documentation.

Question 22

Do I need to visit the bank in person?

Accepted Answer

Requirements vary by bank. Some banks may require an in-person visit, while others offer remote onboarding. Our team will guide you through the process.

Question 23

Do you provide mail handling services?

Accepted Answer

Yes, we provide mail handling and forwarding services for your business correspondence.

Question 24

What is the renewal price?

Accepted Answer

The renewal price is the same as your original package price. Multi-year packages offer cost savings.

Question 25

Can I have full foreign ownership of my company at Innovation City?

Accepted Answer

Yes — companies at Innovation City can be fully foreign-owned (100% foreign ownership) without a local sponsor.

Question 26

Can I add or remove shareholders?

Accepted Answer

Yes, you can add or remove shareholders through an amendment process. Our team will guide you through the requirements and fees.

Question 27

Can I set up a robotics company?

Accepted Answer

Yes, we support robotics companies and provide access to industrial links, labs, and university pipelines for testing, iteration, and deployment.

Question 28

Does Innovation City handle corporate tax registration for companies?

Accepted Answer

While Innovation City does not process tax registration on behalf of clients, our team can guide you on the steps to register on the FTA website and connect you with tax consultants from our ecosystem if needed.

Question 29

What business support does Innovation City provide?

Accepted Answer

You’ll receive support in:

Business registration and licensing

Banking and immigration assistance

Marketing and networking events

Studio and event space access

Compliance and regulatory guidance

Question 30

Why should I choose Innovation City over other free zones?

Accepted Answer

Innovation City offers a unique combination of benefits for technology-focused businesses:

100% Foreign Ownership: You can have full ownership of your company without a local sponsor.

Fast & Simple Licensing: We offer the fastest path to licensing and company setup.

Simultaneous Banking Support: We help you open a corporate bank account as you set up your company.

Tech-Focused Ecosystem: You gain access to a curated ecosystem of partners, investors, universities, and tech-service providers.

World-Class Infrastructure: We provide premium infrastructure and real partnerships with zero bureaucracy.

Question 31

Do you support esports companies?

Accepted Answer

Yes, esports companies fall under our gaming category and can be licensed at Innovation City.

Question 32

Can I upgrade to a private office?

Accepted Answer

Yes, premium office space is available as an upgradeable extra. Please contact us for pricing and availability.

Question 33

Can I sponsor my family members?

Accepted Answer

Yes, once you have a valid residence visa through your Innovation City company, you can sponsor your family members according to UAE immigration regulations.

Question 34

How is personal data protected?

Accepted Answer

Innovation City follows UAE Data Protection Law No. 45 of 2021. Personal data is processed only within the UAE, securely stored, and not shared without authorization.

Question 35

What languages do you support?

Accepted Answer

We primarily operate in English and Arabic.

Question 36

What facilities are included at Innovation HQ?

Accepted Answer

All packages include:

Unlimited refreshments in Innovation HQ

Access to Innovation HQ event space

Access to content creator studio

High-speed internet connectivity

Meeting room access

Question 37

Where is Innovation City located?

Accepted Answer

Innovation City is located in Ras Al Khaimah, UAE. Our headquarters are at RAKBANK Building, Floor 8, Post Box #30099.

Question 38

How long does the visa process take?

Accepted Answer

The visa process typically takes a few days once all required documents are submitted and approved.

Question 39

What are the compliance requirements?

Accepted Answer

All partners and clients must comply with all UAE laws, including but not limited to:

Federal Decree-Law No. 20 of 2018 (AML/CFT)

Cabinet Decision No. 10 of 2019

Federal Law No. 45 of 2021 (Data Protection)

Federal Law No. 32 of 2021 (Commercial Companies)

More details can be found here

Question 40

Can I host events at Innovation HQ?

Accepted Answer

Yes, all packages include access to our event space. The Startup and Growth packages offer unlimited access.

Question 41

Can I have accounts with multiple banks?

Accepted Answer

Yes, you can open accounts with multiple banks to suit your business needs.

Question 42

Who are the ecosystem partners?

Accepted Answer

Our partners span across:

Legal & Accounting firms

Banks & financial partners

Web3 and Blockchain Tools

Gaming Studios

AI and Data Partners

DAO & Web3 platforms

Question 43

Can I get a refund if I cancel?

Accepted Answer

Refund policies depend on the stage of your application. Please contact our team for specific details regarding cancellations and refunds.

Question 44

Does Innovation City fall under UAE jurisdiction?

Accepted Answer

Yes. All operations and contracts are governed by the laws of Ras Al Khaimah, UAE, and disputes are handled by RAK Courts.

Question 45

What documents will I need for registration?

Accepted Answer

The required documents depend on whether you are an individual or a corporate shareholder. Our team will guide you on the specific documents needed for your application. Generally, you will need to provide:

Valid Passport Copy

Proof of Address

Proof of Source of Wealth (for investments over USD 250,000)

Emirates ID and UAE Residence Visa Copy (if applicable)

For corporate shareholders, additional documents like a Board Resolution and Certificate of Incorporation will be required.

Disclaimer: Additional documents may be requested as required.

Question 46

Can I change my company name?

Accepted Answer

Yes, company name changes can be processed through an amendment. Please contact our team for details.

Question 47

Is there parking available?

Accepted Answer

Yes, parking facilities are available at our Innovation HQ location.

Question 48

Can I add more activities to my license later?

Accepted Answer

Yes, you can add additional activities to your license as your business grows. Additional fees may apply depending on the activity type. It is worth noting that certain activities are standalone and require separate licenses, while others may be combined based on UAE regulatory rules

Question 49

When can I begin operations?

Accepted Answer

Once your license is issued, documentation is complete and payment is settled, you can commence operations under the scope of your license.

Question 50

What ecosystem benefits do I get as a member of Innovation City?

Accepted Answer

You’ll gain access to a curated ecosystem of service-providers, investors, universities and tech-partners. These include legal, HR, accounting, tokenomics, audit, compliance partners — plus event-space, networking and founder-community support.

Question 51

Are there upgrade options if my business grows?

Accepted Answer

Yes — you can upgrade your package as you grow. Premium activities, additional visas, or premium office space can be added as needed. You can upgrade anytime by paying only the price difference between packages — no amendment fees apply.

Question 52

How many activities can I have on my license?

Accepted Answer

Most packages include up to 10 standard or custom activities. The Seed package includes 1 custom or premium activity.

Question 53

Do I need to submit audited financial statements?

Accepted Answer

Requirements vary based on your business type and activity. Our team will guide you on specific compliance requirements for your company.

Question 54

What happens if I want to close my company?

Accepted Answer

If you wish to close your company, you'll need to go through a liquidation process. Our team can guide you through the requirements and procedures.

Question 55

Do you provide content creation facilities?

Accepted Answer

Yes, all packages include access to our content creator studio, perfect for video production, podcasts, and other content creation needs.

Question 56

How long does it take to get a business license?

Accepted Answer

Typically, licenses can be issued within 5-10 working days once all documents are complete and compliance checks are cleared.

Question 57

Can I use Innovation City's address for my business cards?

Accepted Answer

Yes, you can use your Innovation City business address on your business cards and marketing materials.

Question 58

How does Innovation City handle KYC and AML?

Accepted Answer

Clients must provide identity verification, source of funds, and ownership documentation. We verify documents, witness signatures, and ensure all KYC data is authentic.

Question 59

What do “activities” mean in the license?

Accepted Answer

“Activities” refer to the permitted business operations you can carry out under your license (for example, AI development, blockchain consultancy, gaming studio). The packages include standard or custom activities tailored for tech-innovation.

Question 60

Do these partner benefits apply automatically?

Accepted Answer

Yes — once you receive your Innovation City license, your business is verified within our partner network for fast-track access.

Question 61

What workspace options are available?

Accepted Answer

We offer two main workspace options:

Shared Desk: Included in Idea, Seed, and Startup packages

Dedicated Desk: Included in Growth package

Question 62

How do I start my business at Innovation City?

Accepted Answer

To begin the process, please reach out to us directly via our website or contact center. We will guide you step-by-step, discuss which package fits you best, and request the documents we need from you. Once we receive your basic details, our team will prepare everything and support you through to license issuance.

Question 63

What license packages are available and what do they include?

Accepted Answer

We offer four main annual license packages:

Idea (from AED 6,600): 0 visas; multiple shareholders allowed; 10 standard or custom activities; shared desk workspace.

Seed (from AED 13,200): 1 visa (capped at 1); 1 shareholder; 1 custom/premium activity; shared desk workspace.

Startup (from AED 15,400): 1 visa (capped at 4); multiple shareholders allowed; 10 activities; shared desk workspace.

Growth (from AED 22,550): 1 visa (capped at 4); multiple shareholders allowed; 10 activities; dedicated desk workspace.

All plans include workspace in Innovation HQ, refreshments, and access to event & content-studio facilities.

Question 64

What are Standard Activities?

Accepted Answer

Standard Activities are professional and commercial activities that form the core business model, simplified for setup. These include activities like accounting, IT consultancy, software development, and more.

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