Benefits of company formation in RAK

Since its independence in 1971, the United Arab Emirates has been propelled almost resolutely onto a path of accelerated growth and development. Since its inception, the economy has grown more than 230 times. But where the UAE really stands out among its GCC partners is through the far-reaching diversification policies that have been injected into the economy over these decades.

Diversification: the beginning

What was once an economy totally dependent on oil; now it is standing up boldly to wholeheartedly embrace globalization and entrepreneurship. The UAE has opened its doors to companies from all over the world looking to operate inside and outside the country. RAK or Ras al-Khaimah, with its easy registration and licensing procedures and facilities, has become one of the best places to establish offices in the UAE.

Ras Al Khaimah Free Trade Zone

The Ras Al Khaimah Free Trade Zone, one of the most prosperous free trade zones in the United Arab Emirates, has been voted Best Emerging Free Trade Zone three years in a row. Just 45 minutes from Dubai International Airport, RAK FTZ offers state-of-the-art facilities such as spacious warehouses, office spaces, accommodation facilities and flexible desking at low upfront costs. Onboarding procedures are streamlined efficiently, eliminating unnecessary red tape and red tape. Today RAK FTZ is home to more than 7,500 companies.

Training in offshore companies

Another rare and notable facility that Ras al-Khaimah offers to investors is the opportunity to incorporate an offshore company. Prudent investors may establish offshore companies in RAK to function as flexible financial instruments that can be used for tax planning and handling of trusts and global transactions.

RAK – Fortresses

RAK allows 100% foreign ownership of such companies, in a tax-free environment, with full repatriation of capital and profits. The region has a well-established banking and communications infrastructure and access to a large pool of highly qualified and trained professionals. A RAK offshore company can be incorporated and maintained with very little expense. RAK offers absolute privacy, confidentiality and protection of assets and information. English is the main language in the region and is the means of communication and business transactions. RAK also maintains a comprehensive double tax treaty with more than 40 countries around the world.

With this remarkable number of benefits, it’s not hard to see why RAK is one of the best places to set up a business in the UAE. Building on a rapidly growing and diversifying economy, RAK’s welcoming policies towards global investors and start-ups will shape the growth of the UAE in the new millennium.