This article contains information and facts about the Emirates, offering a unique opportunity for investors to receive the benefits and advantages of doing business by registering a company in Ras Al Khaimah.
With full support from the government, the private sector plays a leading role in the local economy and is characterized by its specialization and success in specific business activities, particularly the industrial field. Major exports include ceramic tiles (RAK Ceramics is the world's largest ceramics producer), medicines, cement, crushed rocks, and fish.
GDP (gross domestic product) figures have been characterized by strong growth in recent years, especially in manufacturing, services, and tourism sectors. This has been accompanied by an increase in foreign trade and per capita income, as well as a rise in the standard of living, growth in education and development of world-class housing and health-care facilities. Ras Al Khaimah is a frontrunner and pacesetter in the Middle East investment race.
Let’s consider the business climate of Ras Al Khaimah:
- Over 10,000 foreign registered companies;
- Over 10 billion AED of foreign investment since 2000;
- Around 150 industrial firms with 5 billion AED of industrial investment.
Additionally, RAK business climate is the tax-free heaven for investors. The absence of taxes on profits of companies and individuals, import / export of goods in the territory of a free economic zone and on real estate, make Ras Al Khaimah very attractive for business.
Today, the Emirate is home to the Masafi, one of the country's largest water companies, and counts more than 300,000 residents. RAK concentrates on developing its industrial sector. The first cement company in the Emirate was opened in the early 1970s and is now the UAE's largest producer of cement. In the 1980s, the Emirate formed RAK Ceramics, which has become the world's largest ceramics producer, and Julphar, the Gulf region's first pharmaceuticals company.
RAK companies incorporation is absolutely a stable sector. Businesses are continuously attracted to this free trade zone: new factories have been opened over the past few years, each with a capital of some $200 million. In addition, the Authority has a spike in issuing licenses for new companies, you can describe this Trade Zone as one experiencing clear growth, with a lot of companies registered and many more to come.
