From the time when the UAE got independence in 1971, this city has been driven single-mindedly on the way to fast-tracked growth and expansion. After its formation, economy has full-fledged more than 230 times. Though, where this city actually stands amongst its associates in GCC, is because of comprehensive diversification policies that is being shoot up into economy during these decades.
Offshore Company Establishment:
One more intermittent and noteworthy facility that Ras al-Khaimah offers to its investors, is the opportunity for offshore company incorporation (pros and cons of which explained here). Prudent investors can set up offshore companies in RAK to work as flexible financial instruments that can be employed for tax planning and handling trusts and global transactions.
Diversification: The Commencement
UAE was an economy entirely dependent on oil. However, it is now intensifying confidently to globalization and free enterprise. The UAE has unlocked its entries for trades throughout the world seeking to work inside out of country. RAK or Ras al-Khaimah, along with its trouble-free registration and certifying measures and services, has appeared as the ultimate location to form workplaces in the United Arab Emirates.
Ras Al Khaimah Free Trade Zone:
The most successful free trade zones in UAE, has been chosen as the Best Evolving Free Zone consecutively in last three years. RAK FTZ is only 45 minutes away from Dubai International Airport. RAK FTZ provides high-tech facilities like spacious warehouses, lodging facilities, office spaces, also flexi-desks at small start-up expenses. The company formation processes are professionally organized, cutting through needless red tape or governmental barriers. Nowadays, Ras Al Khaimah Free Trade Zone is home to just about 7,500 companies.
RAK – Strong point:
Ras Al Khaimah permits 100% overseas ownership of those companies, in an environment that is free from tax, with total return of investments and returns. The district has a deep-rooted communiqué and investment set-up and are able to contact with a massive amount of extremely trained and proficient professionals. A Ras Al Khaimah offshore company could be merged and kept with very low expenses. RAK offers complete confidentiality, privacy and safety of possessions and info. English is principal language in county and is the mode of communication as well as business transactions. Ras Al Khaimah keeps all-inclusive Double Taxation Agreement with approx. 40 countries all over the World.
With these amazing advantages, it is easy to witness why Ras Al Khaimah is the finest place to organize a business in United Arab Emirates. Formed on the basis of a rapidly rising and expanding economy, Ras Al Khaimah’s friendly policies to worldwide investors and emerging businesses will form the development of the United Arab Emirates in the new era.
Yuliia is a business consultant and writer at UAE Consultants who facilitates clients with RAK free zone business setup & consultancy services. With over 5 years of experience in consulting for different free zones of UAE Yuliia has a good grip on business setup procedures all over the UAE.