Consulting0vSRTIPAED 5,500QUOTEInnovators package · licence-only14m ago
IT / SaaS2vIFZAAED 23,400LICENCELicence issued · day 447m ago
Trading1vRAKEZAED 10,500REROUTEDWio declined → Mashreq approved1h 12m ago
Consulting0vDIFCAED 5,500IBANCBI account live · day 92h agoE-commerce0vSHAMSAED 5,750LICENCEMedia package · 4h express2h 44m ago
General Trading3vRAKEZAED 18,500QUOTE3 visas bundled · Portal 3603h ago
Consulting1vIFZAAED 16,700REROUTEDRAKBANK declined → HSBC pending3h 18m agoFreelance1vAFZAED 10,800IBANADCB live · day 64h ago
Marketing0vSPCAED 5,750LICENCE24-hour express issue5h ago
Fintech0vADGMAED 44,000QUOTERegLab application opened6h agoConsulting0vSRTIPAED 5,500IBANWio live · 48h post-licence8h ago
Freelance1vUAQAED 11,000LICENCEUAQ START · day 29h ago
Trading2vANCFZAED 15,200QUOTEUpgraded from zero-visa package11h agoCrypto / Web30vDMCCAED 31,000LICENCEVARA sandbox licence · day 813h agoIT / SaaS2vIFZAAED 23,400EIDEID issued · founder + partner14h ago
Marketing0vSHAMSAED 5,750QUOTEInstallment · 12 × AED 57316h ago
Consulting1vSRTIPAED 9,690LICENCEInnovators · day 518h agoGeneral Trading4vDMCCAED 51,684REROUTEDWio declined → Mashreq approved20h ago
Consulting0vDIFCAED 5,500IBANEmirates NBD live · day 3yesterdayE-commerce1vANCFZAED 10,800LICENCE15-min registration · same-dayyesterdayLogistics3vJAFZAAED 25,000QUOTEFZE Type 1 + warehouse leaseyesterday
Consulting0vIFZAAED 12,200IBANMashreq live · day 62d agoIndustrial4vKIZADAED 145,000LICENCEIndustrial + 2,000 sqm plot2d agoInnovation0vInnovation CityAED 6,600LICENCEIdea package · on-chain issuejust nowConsulting0vSRTIPAED 5,500QUOTEInnovators package · licence-only14m agoIT / SaaS2vIFZAAED 23,400LICENCELicence issued · day 447m agoTrading1vRAKEZAED 10,500REROUTEDWio declined → Mashreq approved1h 12m agoConsulting0vDIFCAED 5,500IBANCBI account live · day 92h agoE-commerce0vSHAMSAED 5,750LICENCEMedia package · 4h express2h 44m agoGeneral Trading3vRAKEZAED 18,500QUOTE3 visas bundled · Portal 3603h agoConsulting1vIFZAAED 16,700REROUTEDRAKBANK declined → HSBC pending3h 18m agoFreelance1vAFZAED 10,800IBANADCB live · day 64h agoMarketing0vSPCAED 5,750LICENCE24-hour express issue5h agoFintech0vADGMAED 44,000QUOTERegLab application opened6h agoConsulting0vSRTIPAED 5,500IBANWio live · 48h post-licence8h agoFreelance1vUAQAED 11,000LICENCEUAQ START · day 29h agoTrading2vANCFZAED 15,200QUOTEUpgraded from zero-visa package11h agoCrypto / Web30vDMCCAED 31,000LICENCEVARA sandbox licence · day 813h agoIT / SaaS2vIFZAAED 23,400EIDEID issued · founder + partner14h agoMarketing0vSHAMSAED 5,750QUOTEInstallment · 12 × AED 57316h agoConsulting1vSRTIPAED 9,690LICENCEInnovators · day 518h agoGeneral Trading4vDMCCAED 51,684REROUTEDWio declined → Mashreq approved20h agoConsulting0vDIFCAED 5,500IBANEmirates NBD live · day 3yesterdayE-commerce1vANCFZAED 10,800LICENCE15-min registration · same-dayyesterdayLogistics3vJAFZAAED 25,000QUOTEFZE Type 1 + warehouse leaseyesterdayConsulting0vIFZAAED 12,200IBANMashreq live · day 62d agoIndustrial4vKIZADAED 145,000LICENCEIndustrial + 2,000 sqm plot2d agoInnovation0vInnovation CityAED 6,600LICENCEIdea package · on-chain issueBefore you read further
Innovation City may not fit 3 things you're probably after.
If any of these apply to you, the linked alternative will save you a week. Close this tab before you waste it.
Not for F&B
→ MainlandRestaurants, cafés, cloud kitchens need a mainland DED foodservice licence. Free zones don't issue these.
Not for clinics
→ DHCCDHA-regulated medical/clinical activity requires Dubai Healthcare City (DHCC).
Visa cap: 4
→ Browse higher-cap zonesPlanning a team of 5+? You'll hit this zone's visa cap. Consider SRTIP / IFZA / JAFZA (unlimited).
Ras Al Khaimah · Free Zone
First-party verifiedInnovation City
RAK's tech-first free zone — Web3, AI, gaming, robotics. Packages from AED 6,600.
5d
License in
4
Visa quota
1450+
Activities
7/10
Bank score
Innovation City (formerly RAK DAO, rebranded 2025) is Ras Al Khaimah's premium innovation and technology-focused free zone. 4 all-inclusive packages — Idea (AED 6,600, 0 visa), Seed (AED 13,200, 1 visa), Startup (AED 15,400, up to 4 visas), Growth (AED 22,550, dedicated desk). DAO-friendly legal framework, on-chain licensing, Tabby 4x installments, simultaneous bank-account opening with CBI / Amina Bank. 45 minutes from Dubai.
Starting from
VerifiedAED 6,600
Innovation City Idea Package · 0 visas · 1 year
Includes: Trade licence, 10 activities, shared desk at Innovation HQ, event access
RAK's tech-first free zone — built for Web3, AI, gaming, robotics
4 all-inclusive packages from AED 6,600. DAO-friendly on-chain licensing, Tabby 4x installments, simultaneous bank-account opening with CBI + Amina Bank. Operates outside VARA — no NOC required.
What does Innovation City cost in 2026?
Innovation City publishes 4 all-inclusive packages starting from AED 6,600 — every package covers licence + desk + activities + Innovation HQ amenities. Tabby 4x means you can split any price into 4 interest-free payments.
Idea
AED 6,600
or AED 1,650 × 4 with Tabby (0% interest)
0 visas included · up to 0 max
- ✓Multiple shareholders
- ✓10 std/custom
- ✓Shared desk at Innovation HQ
- ✓Unlimited refreshments
- ✓Event space · Access
- ✓Content creator studio · Access
Seed
AED 13,200
or AED 3,300 × 4 with Tabby (0% interest)
1 visa included · up to 1 max
- ✓1 shareholder
- ✓1 custom/premium
- ✓Shared desk at Innovation HQ
- ✓Unlimited refreshments
- ✓Event space · Access
- ✓Content creator studio · Access
Most popular
Startup
AED 15,400
or AED 3,850 × 4 with Tabby (0% interest)
1 visa included · up to 4 max
- ✓Multiple shareholders
- ✓10 std/custom
- ✓Shared desk at Innovation HQ
- ✓Unlimited refreshments
- ✓Event space · Unlimited
- ✓Content creator studio · Unlimited
Growth
AED 22,550
or AED 5,638 × 4 with Tabby (0% interest)
1 visa included · up to 4 max
- ✓Multiple shareholders
- ✓10 std/custom
- ✓Dedicated desk at Innovation HQ
- ✓Unlimited refreshments
- ✓Event space · Unlimited
- ✓Content creator studio · Unlimited
What's included in the Innovation City package?
Every package already bundles licence, activities, Innovation HQ desk, and ecosystem access — and Innovation City adds a multi-year discount on top. Pay upfront for 2, 3, 5, or 10 years and unlock discounts. 10-year Growth saves AED 56,375 vs annual renewal.
| Package | 1 year | 2 years | 3 years | 5 years | 10 years |
|---|---|---|---|---|---|
| Idea | AED 6,600 | AED 11,880 | AED 16,830 | AED 28,050 | AED 56,100 |
| Seed | AED 13,200 | AED 25,080 | AED 35,640 | AED 56,100 | AED 99,000 |
| Startup | AED 15,400 | AED 29,260 | AED 41,580 | AED 65,450 | AED 115,500 |
| Growth | AED 22,550 | AED 42,845 | AED 60,885 | AED 95,838 | AED 169,125 |
Does Innovation City charge Formenzo a service fee?
No — Formenzo is an Innovation City channel-partner, so Innovation City pays Formenzo (not you) and the Innovation HQ amenities below are already bundled in every package. Every package includes access to Innovation HQ at Ras Al Khaimah — 45 minutes from Dubai.
Shared Desk
Included in Idea, Seed, and Startup packages
Dedicated Desk
Included in Growth package
Unlimited Refreshments
Available to all package holders at Innovation HQ
Event Space
Access (Idea/Seed) or Unlimited (Startup/Growth)
Content Creator Studio
Access (Idea/Seed) or Unlimited (Startup/Growth)
Premium Office Space
Upgradeable extra – contact Innovation City
Invoice transparency · Innovation City
What lands on your invoice. Line by line.
Every fee, in the order it hits. No “admin” tax, no hidden markup — Formenzo's margin is the zone's channel-partner commission, not a line on your invoice.
0 visas · licence only
- Innovation City licenceAED 6,600
- Gov + authority adminBundled
- Formenzo service feeAED 0
1 visa · founder
- Innovation City licenceAED 6,600
- Entry permit × 1AED 6,600
- Medical + EID × 1AED 0
- Gov + authority adminBundled
- Formenzo service feeAED 0
2 visas · partners
- Innovation City licenceAED 6,600
- Entry permit × 2AED 13,200
- Medical + EID × 2AED 0
- Gov + authority adminBundled
- Formenzo service feeAED 0
Visa bundle uses Innovation City-standard rates. Final visas stamped per applicant; typing-centre and translation fees are only added when they actually occur and billed at cost (usually AED 0 for English-passport applicants, AED 100–200 otherwise).
Banking reality · Innovation City
The real bank-approval picture for a Innovation City licence.
Channel-partner outcomes by passport bucket, over the last 90 days. “Limited” means the bank rarely approves this combo — we'll re-route you rather than waste your time.
| Bank | IN / UK / PH Low friction | PK / BD / NG Enhanced DD | RU / IR / SY Sanctions screen | US FATCA disclosure | Days |
|---|---|---|---|---|---|
| Wio | Strong | Limited | Limited | Standard | 5–7 |
| Mashreq NeoBiz | Strong | Enhanced DD | Enhanced DD | Standard | 10–14 |
| Emirates NBD | Standard | Enhanced DD | Limited | Enhanced DD | 14–21 |
| RAKBANK | Strong | Enhanced DD | Limited | Standard | 12–18 |
| CBI | Standard | Enhanced DD | Enhanced DD | Enhanced DD | 14–25 |
| ADCB | Standard | Enhanced DD | Limited | Standard | 18–21 |
Outcomes are directional channel-partner patterns, not a guarantee for any specific applicant. “Days” = typical time from licence issuance to funded IBAN.
Banking partners
Banks that open accounts for Innovation City companies with 90%+ approval.
Average time to IBAN
10 days
from license issuance
Formenzo setup timeline
Day-by-day what we deliver end-to-end, from signed engagement to funded IBAN.
Initial approval
We file your application with the Free Zone authority.
~2 days
License issued
Trade license + Establishment Card in hand. You can sign contracts.
~3 days
Investor visa
Entry permit → medical → Emirates ID → stamping.
~10 days
Bank account opened
Funded UAE IBAN ready to receive payments.
~-5 days
Innovation City — frequently asked questions
Quotable, answer-first, optimized for AI search (Perplexity, ChatGPT, Google AI Mode).
How much does a Innovation City license cost in 2026?
+
A Innovation City (Innovation City) license costs AED 6,600 all-in for the zero-visa package in 2026 — that includes government license fee, Establishment Card, and Formenzo's all-inclusive service fee. Add one investor visa (entry permit, medical, Emirates ID, stamping) and the total becomes AED 13,200.
How long does Innovation City company setup take?
+
Innovation City issues the trade license in 5 business days after initial approval (2 days). A residency visa adds approximately 10 more days. Opening a UAE corporate bank account adds -5 days on top. Total from signup to funded UAE IBAN: about 10 days.
How many visas can I get with Innovation City?
+
Innovation City default package includes 0 visas, and the maximum allowed per license is 4. Each additional investor or employment visa costs approximately AED 6,600 including entry permit, medical, Emirates ID, and stamping.
Which UAE banks open accounts for Innovation City companies?
+
Innovation City companies primarily bank with CBI, Amina Bank, WIO, and Mashreq NeoBiz. Formenzo coordinates the KYC process and typical time from license issuance to funded account is 5 days. Bank approval rates vary by nationality; we pre-match you to the right bank before filing.
What business activities does Innovation City allow?
+
Innovation City permits approximately 1,450 business activities. It is best suited for crypto, fintech, it services, saas. Activities not allowed include restaurant, retail physical, construction — these require a UAE Mainland license.
Can I form a Innovation City company without visiting the UAE?
+
Yes — Innovation City formation is fully remote through Formenzo. We handle document collection, trade name reservation, MOA drafting, and submission without a UAE visit. You only come to the UAE for one day to complete the medical fitness test and Emirates ID biometrics — and only if you want a residency visa. The trade license itself can be issued with zero travel.
Is Innovation City eligible for 0% UAE Corporate Tax?
+
Yes. Innovation City is a recognized UAE Free Zone, so companies qualifying as a Qualifying Free Zone Person (QFZP) can maintain a 0% Corporate Tax rate on qualifying income. Non-qualifying income is taxed at the standard 9% above AED 375,000. Innovation City companies must register with the Federal Tax Authority within 3 months of incorporation — Formenzo handles this filing.
Why choose Innovation City over other UAE Free Zones?
+
RAK's tech-first free zone — Web3, AI, gaming, robotics. Packages from AED 6,600.. 4 all-inclusive packages from AED 6,600. 1,450 standard activities + 105 premium (AED 2,399 each). Banking score: 7/10. Setup speed: 5 days. Starting cost: AED 6,600. Take Formenzo's 60-second assessment to compare Innovation City against 47 other UAE Free Zones based on your nationality, budget, and business activity.
Other Ras Al Khaimah Free Zones
Compare Innovation City with other options in the same emirate.
RAKEZ
Instant licence in 5 minutes. 24-hour full setup. Saqr Port industrial hub.
RAK Media City
Budget media and advertising license — RAK alternative to DMC
RAK Maritime
Shipbuilding, ship repair, and maritime services in RAK
IFZA
Best balance of price, speed, and Dubai address
Ready to form your Innovation City company?
Take our 60-second assessment. We'll prepare your docs, file with Innovation City, and have your license in 5 days.