Set up a company in a Free Zone in Ras Al Khaimah
DOING BUSINESS IN RAS AL-KHAIMAH
Ras al-Khaimah (RAK) is northernmost emirate, and is less than an hour’s drive from Dubai. RAK is connected to Dubai by Sheikh Mohammed Bin Zayed Road and Emirates Road, two multi-lane highways, and by several smaller roads.
Its neighbours are the emirates of Fujairah and Umm Al Quwain, and it also shares a very short border with Sharjah in the desert interior, as well as the Sultanate of Oman’s Musandam peninsula.
Ras Al Khaimah is also the geographical area of the UAE that is closest to Iran. RAK’s Mina Saqr port is only 100 kilometres (60 miles) away from the Iranian port of Bandar Abbas.
The fourth-largest emirate, Ras Al Khaimah has always held a position of significance. From it’s early days as a centre of traditional shipbuilding and trade, Ras Al Khaimah has now become a centre of quarrying, manufacturing and tourism. Since 2003, the Government of Ras Al Khaimah has been investing heavily in education and public utilities, and has pursued an economic diversification policy, promoting industrialisation and tourism in the emirate.
Ras Al Khaimah was ranked sixth on the FDI magazine’s list of Top 20 Middle Eastern Cities, and first on the magazine’s list of Cities Most Attractive for Foreign Investment, followed by Abu Dhabi and then Dubai.
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Advantages of a Free Zone Company in Ras Al Khaimah
Growing Economy
Ras Al Khaimah has been the most prominent emirate, after Dubai and Abu Dhabi. It was the first emirate, after Dubai, to enact a freehold law enabling foreigners to purchase property. RAK also came up with innovative offshore and onshore free zone offerings, that made it economical to do business in the region.
Favourable Investment Climate
Ras Al Khaimah’s freehold laws have attracted investors from all over the GCC and worldwide to invest in tourism and living in the emirate. It offers an economical substitute to Dubai, and the lower costs of living have helped it gain prominence among investors looking at investing in the UAE.
Free Zone
RAKEZ, the free zone at Ras Al Khaimah, has over 14,500 companies, with hundreds of freelancers living and working from the free zone. It offers entrepreneurs and established companies a wide range of solutions, from desk space packages to large tracts of land for industry.
Tax friendly
There are no personal or corporate income taxes. This enables companies in Ras Al Khaimah to deploy their capital and earnings to expand their businesses, and attract good talent from all parts of the world.
Geographic Location
Ras Al Khaimah is located between Asia, Europe and Africa, a gateway to over 2 billion people.
Good Infrastructure
Ras Al Khaimah has a good network of roads and highways and good port facilities. It also has an international airport.
Tourism
The tourism sector is a major driver of business in Ras Al Khaimah, with the emirate offering a premium selection of properties (such as Al Marjan Island) for short-term staycations and long-term time-share investments.
Security
The UAE has had a politically stable climate since inception. Abu Dhabi is known as one of the most tolerant, prosperous, secure and safe societies in the world and is ranked as the top Middle Eastern city in Mercer’s Quality of Life Index.
RAKEZ FREE ZONE
RAKEZ is one of the largest free zones in the UAE, offering free-zone, non free-zone and offshore solutions.
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Fujairah
Fujairah free zones are cost-effective and offer licenses not available elsewhere in the UAE.
GUIDES
Forming a company in the UAE can be a daunting task, due to the multiple options available. Do you start a company in the Dubai mainland, or do you setup a free zone company? What are the laws and regulations governing your company? Answer these questions, and many more, through our Doing Business Guides that you can download for free!
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