Economy of RAK (Ras al Khaimah)

About Ras al Khaimah

Ras al Khaimah is one of the seven emirates; those constitute the United Arab Emirates or the UAE. This emirate is situated in the northern part of United Arab Emirates and is on the border of Oman’s exclave.

Economy of Ras al Khaimah

This particular emirate of Ras al Khaimah has registered an amazing growth in its economy, during the recent past years. This emirate is a free trade zone.

The ceramic industry in Ras al Khaimah has experienced a steady growth and has largely contributed to the economic development of the emirate. The manufacturing sector has also recorded a sizable growth in the emirate and has done its part in the economy of Ras al Khaimah. The pharmaceutical industry has played a major role in the manufacturing sector in the emirate.

The current government of Ras al Khaimah is focussing in boosting the tourism industry in the emirate. This effort is showing a very positive result. The emirate has a range of natural tourist attractions. These include hot springs, the mountains and the ancient sites, uncovered by modern archaeology. Tourism industry has witnessed an increase of 12.4% than the previous year, bringing in capital and foreign exchange.

The emirate of Ras al Khaimah was the emirate to open the first cement producer company in the entire UAE, way back in the year 1970. This Union Cement Company is presently the second largest cement plant in the United Arab Emirates. It produces 4.8 million tonnes of cement every year and has boosted the overall GDP of Ras al Khaimah.

The present government of Ras al Khaimah plans and projects a rapidly expanding economy, which is diversified in nature. This government also provides full autonomy over its fiscal policies, its internal affairs and its economic development.

The GDP of the emirate is varied not with a single element that exceeds more than 20% of the total GDP of the emirate.

Why form an offshore company in Ras al Khaimah?

Ras al-Khaimah (RAK) is one of the seven emirates of UAE and along with Ajman is the most popular offshore jurisdictions in the region. RAKEZ is strategically located such that investors have the option to look after the markets in Europe, North Africa, South and Central Asia. Other added advantages are zero personal income tax, capital gains tax, inheritance tax or sales tax. This region also provides the foreign investors with much needed amenities like infrastructure, visas and availability of cheap labour.

Form an Offshore Company in Ras al Khaimah

Benefits of Forming an Offshore Company in RAK

  1. 0% income tax
  2. 0% tax on capital gains, inheritance tax
  3. 3 days to incorporate a company
  4. Excellent economical and geo political status
  5. Full ownership for foreign investors
  6. Fast and efficient incorporation process
  7. Easy access to prominent markets in Europe, Middle East, Central and South Asia.