Ras al Khaimah is joining Dubai as one of the UAEβs prime destinations for foreign investment. The emirate is home to the second-biggest free trade zone in the United Arab Emirates, which is already the preferred destination for over 8,000 companies representing some 50 business sectors and which come from more than 100 countries. Businesses ranging from SMEs to subsidiaries of some of the worldβs leading corporations are flocking to RAS, attracted by its many advantages. These include:
Setting up business in the RAS free trade zone costs substantially less than in Dubai or other emirates in the UAE while still offering the same range of benefits, including 100% foreign ownership. And procedures for starting a business in the RAS have been simplified, with fast-track processes for registration and licensing, visa issuance for investors and workers as well as no restrictions on where the investor can source labor and materials.
The RAS FTZ offers world-class support facilities with four specialized industry parks featuring offices, warehouses and land for lease, as well as providing business solutions tailored for the specific requirements of individual companies.
The RAS provides a strategic location for investors that offer them easy access to the Straits of Hormuz through which they can reach more than 1.2 billion consumers in the markets of Africa and the Middle East. RAS is also less than an hour away from the Dubai city center.
The RAS is holding discussions with major markets such as the US and Japan for free trade agreements. If these talks are fruitful, businesses operating in the emirate will have free access to the markets of these countries, offering them great potential to grow their businesses and earn greater profits.
Businesses can have a business address in the RAS without actually having to set up a physical office by setting up an offshore company. This offers investors a way to enjoy some of the benefits of the RAS without the expense of relocation or having to maintain a physical presence or staff.
Competitively-priced energy is readily available in the RAS, allowing investors to reduce their manufacturing and other operating costs.