Aspiring as well as established entrepreneurs and businesses from all over the globe have made a bee-line for United Arab Emirates for several decades now. A highly advantageous region for setting up businesses, all the emirates offer an unmatched scope for diverse industries thanks to the excellent infrastructure and an investor friendly approach. One of the emirates – Ras Al Khaimah, is situated at the top northernmost part of the UAE. Its name literally means ‘Top of the Tent’. As far as the reputation of this emirate goes, it is suffice to say that several thousand businesses have been set up in Ras Al Khaimah over the last couple of decades.
The key factor that has played an important role in making Ras Al Khaimah a popular destination for business investors is the development of the RAK FTZ, namely, the Ras Al Khaimah Free Trade Zone. One of the aspects that sets this free trade zone apart from others, especially the Dubai based Jebel Ali Free Zone, is the fact that it offers numerous packages and associated advantages to small and medium size businesses. Moreover, for as low as US$ 5,000 a year, the operating cost of a business from the Emirate’s free zone can be covered.
Some of the Notable Advantages for SMEs in Ras Al Khaimah and in the RAK FTZ Include the Following:
- Very affordable starter packages that is as low as US$ 5,000 per annum. It includes the license required to operate in UAE, registration along with email address, telephone numbers, fax, and availability of facilities like computer, printers and associated infrastructure through shared business centres.
- A US$ 5,000 per annum package also includes a single visa, i.e., visa for one person which is a three year residency visa.
- Cost effective as compared to all other free zones thanks to the significantly lesser product costs, as well as lower costs of land, office space and warehouses; thus allowing businesses to maximize profits and minimize costs.
- State of the art infrastructure that includes no less than five ports shipping products worldwide to the tune of 50 million tonnes of throughput.
- Business in the RAK FTZ can be 100% owned by the foreign investors along with attractive tax exemptions. Additionally, they also have the freedom to hire personnel and employees from any country.
- Tremendous growth has taken place in RAK FTZ with nearly 8000 of the total 12000 companies operating in entire UAE free trade zones being located in RAK FTZ.
- Strategically located approximately 45 minutes from the Dubai International airport, with 125+ airlines spanning across six continents. Moreover, it is 90 minutes from the Jebel Ali that happens to be the biggest port in the Middle East.
- Ras Al Khaimah ranks in the top ten small and medium cities of the future and is one par with internationally acclaimed cities like Edinburgh, Zurich, Geneva, etc.
Therefore, it is the most viable option for small and medium size businesses to pursue a vocation in Ras Al Khaimah.