RAKIA
Rak Investment Authority (RAKIA) 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.
In the process, it transformed Ras Al Khaimah into an investment destination with over a thousand foreign investors setting up operations within the emirate in just a short period of time.
Within 3 years of its inception RAKIA has more than 1600 companies under its portfolio. Dr. Khater Massad-personal advisor of H.H Sheikh Saud bin Saqr Al Qasimi was appointed as the chief executive officer of RAKIA.
This Semi-governmental agency whose mandate is to work towards reinforcing the investment climate in the emirate of Ras Al Khaimah and promote its various economic sectors; proposes investment policies and supervises their implementation.
RAKIA has literally transformed Ras Al Khaimah into an investment magnet with over a thousand foreign investors setting up operations within the emirate in just a short period of time.
Main advantages of RAKIA are the following:
- 100% income and corporate tax exemptions
- No Import or Export Taxes
- No Income, Sales or Wealth Tax
- 100% Repatriation of Capital & Profits
- No restrictions on hiring expatriates
- Land at very Concessional Rates
- 25 Years Renewable Lease Agreements
- Proximity to Entire Gulf and Global Markets
Rak investment authority acts as one stop shop for all investor needs. Its services include offering business licenses (Free Zone and Non Free Zones), visas, industrial plots, warehouses, labour accommodation, commercial space, building permits etc.
Rak investment authority provides all necessary infrastructure and approvals under one umbrella for all investors including partnering them for their projects in UAE.
Rak government’s vision is that Ras al khaimah investment authority becomes leading authority in making sound investments in Rak and partner with others who share their vision, enabling them to achieve their objectives, at the same time creating a sustainable and growing economy.
With RAKIA’s success in attracting companies and inward investment to the emirate, plenty of opportunities for corporate services are on the horizon.
RAKIA has formed RAKOFFSHORE which is a true offshore facility and regularity body offering complete offshore non-resident business registration and financial services.
The International Offshore Centre (known as “RAK Offshore“) is a free zone regulated by the RAK Investment Authority (RAKIA).
Incorporating as an IBC in RAK can be done much speedier than in the other UAE free zones and lacks the requirements that are typical in these free zones.
Rak offshore is the cheapest offshore in the Middle East. If properly structured, offshore company formation is an excellent, tax-efficient strategy for entrepreneurs to conduct their international business.
Rak offshore allows any non-resident individual or moral entity to open a company registered within RAK free zone. They require a symbolic capital and only one director and shareholder.
They can hold board meetings anywhere in the planet and identity of their shareholders are kept confidential by law unless there is any suspicion of any criminal activity by Rak and UAE 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.
Rakia’s ongoing success in establishing reforms, instituting new laws and regulations and enforcing policies that are hospitable to local, regional or international investors.
Ultimately, the government proactive support and involvement in the ongoing economic revolution is aimed at raising standard of living of both citizens and residents of the emirates, while ensuring long-term socio economic sustainability.
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Tags: rak company, rak free zone, rak investment authority, rak offshore, rakia, ras al khaimah
Print This Page
Posted in
