Ras Al Khaimah Investment
The Authority is an investment arm of the government of Ras al khaimah
, UAE with a mandate to promote and oversee the economic development of the emirate. In the process, it transformed the place into an investment destination with over a thousand foreign investors setting up operations within the emirate in just a short period of time.The Semi governmental agency whose mandate is to work towards reinforcing the investment climate in the emirate and promotes its various economic sectors proposes investment policies and supervises implementation. It has literally transformed the emirate into an investment magnet with over a thousand foreign investors setting up operations within the emirate in just a short period of time.
Main advantages are the following:
* 100% income and corporate tax exemptions
* No import or export taxes
* No income, sales or wealth tax
* 100% repatriation of capital & profits
* No restrictions on hiring expatriates
* Land at very concessional rates
* 25 years renewable lease agreements
* Proximity to entire gulf and global markets
Ras al khaimah investment authority acts as one stop shop for all investor needs. Its services include offering business licenses (Free and Non free zones), visas, industrial plots, warehouses, labour accommodation, commercial space and building permits. It provides all necessary infrastructure and approvals under one umbrella for all investors including partnering them for their projects in UAE.
It has formed RAK Offshore which is a true offshore facility and regularity body that allows complete offshore non resident business and financial services. The international offshore centre is a free zone regulated by the RAK Investment Authority.
IBC incorporation in Rak can be done much speedier than in the other UAE free zones and lacks the requirements that are typical in these free zones.
It is the cheapest offshore in the Middle East. If properly structured, offshore company formation is an excellent, tax efficient strategy for entrepreneurs to conduct their international business. It also allows any non resident individual or moral entity to open a company registered within the free zone.
They require a symbolic capital and only one director and shareholder. They can hold board meetings anywhere in the planet and identity of their shareholders are kept confidential by law unless there is any suspicion of any criminal activity by Rak and UAE regulatory bodies.
RAK Investment Authority allows business investments services in manufacturing, education, health, information technology, media, real estate, tourism, and financial services sectors. The company also involves in developing projects, such as hotel complexes, multiple residential dwelling and touristic attractions, and a residential complex.
It also engages in ceramic tile manufacturing. The company serves the Middle East, Africa, the Indian Subcontinent, and the CIS countries.
Rakia is successful in establishing reforms, instituting new laws and regulations and enforcing policies that are hospitable to local, regional or international investors. Ultimately, the government proactive support and involvement in the ongoing economic revolution is aimed at raising standard of living of both citizens and residents of the emirates, while ensuring long term socio economic sustainability.
The government vision is that Ras al khaimah investment authority becomes leading authority in making sound investments and partner with others who share their vision, enabling them to achieve their objectives, at the same time creating a sustainable and growing economy.
by: Ramapati Singhania