Rak Investment Authority
Rak Investment Authority was constituted in the northern emirates of Ras Al Khaimah, in 2005 as per directives of His Highness Sheikh Saud bin Saqr Al Qasimi , the crown prince and deputy ruler of Ras Al Khaimah.
Ras Al Khaimah (RAK) is one of the seven emirates that comprise the United Arab Emirates (UAE).
Strategically it located on the tip of the Arabian Gulf, Ras Al Khaimah shares borders with Oman, Sharjah, Dubai and Fujairah.
The total land area of the RAK is 2478 sq.kms and has an overall population of 250,000. The past few years has seen RAK grow rapidly on the back of economic development and diversification of its industries.
The mandate for the authority is to work towards reinforcing the investment climate in the emirate and to promote its various economic sectors.
The establishment of RAK Investment Authority (RAKIA) has helped drive the enormous economic growth in the emirate, which has seen GDP increase by more than 50% during the past four years.
Within 3 years of its inception, Rakia has managed to attract more than 1600 companies to the emirate and amassed more than USD 2 bn in industrial investments.
Advantages of RAK Investment Authority
Any investor who wishes to grow with RAK Investment Authority, will enjoy the following facilities:
Fiscal Benefits
• 100% income and corporate tax exemptions
• No foreign exchange controls
• 100% capital and profit repatriation
• Strong appreciating and fully convertible currency
• Low inflation
• Easy funding from International Banks
Regulatory Benefits
• 100% ownership in free zones
• No trade barriers or quotas
• Easy licensing procedures
• Simple import, Export policies
• Liberal labour laws
• No restrictions on hiring expatriates
Rak Investment Authority has been able to attract close to US$ 1.2 billions of investment from all over the world.
RAK Investment Authority has formed RAK offshore, which is a true offshore facility and regularity body offering complete offshore non-resident business registration and financial services.
RAK offshore allows any non resident individual or moral entity to open a company registered within the RAK free zone.
These companies are extremely flexible international instruments that can serve many objectives: trading operations, asset protection, tax planning, real estate holding, trusts, funds etc.
They require a symbolic capital and only one director and shareholder. They can hold board meetings anywhere on the planet and the identity of their shareholders are kept confidential by law, unless there is suspicion of criminal activity by the RAK and regulatory bodies.
RAK Offshore, together with Ras al Khaimah is a new commercial and tourism hub through a number of road shows in Western and Eastern Europe, India and Korea among other.
RAK Investment Authority is at the forefront of the Ras al Khaimah Government’s initiatives to diversify the economy, and is responsible for promoting the development of the Industrial zone and the Free Zone in Al Hamra, and the Industrial Park in Al Ghayl.
Since its inception two years ago, the Investment Authority has successfully attracted almost USD 2.0 billion worth of investments from all over the world, across a broad range of industrial sectors.
During the first quarter of 2007, the Authority registered a 200 per cent growth in the number of companies registered, to take the total number of firms to more than 1,000, making RAK Investment Authority one of the fastest growing Free zone or Industrial zone organization in the MENA region.
To ensure maximum flexibility for investor while maintaining strict compliance with local as well as international rules and regulations, RAK offshore has a dedicated RAK Financial Services Authority(FSA) that is directly in charge of overseeing the regulated financial activity within RAK offshore as well as RAK Financial city.
We provide offshore services in Ras al Khaimah. We offer you low cost confidential offshore services and do offshore incorporating in the fastest and most efficient manner.
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