The GCC region is a promising region for developmental projects and also record breaking projects. The region has attracted new and fresh projects in diverse sectors of infrastructure. As much as outsiders might want to see the entire emirates to be developing at the same rate, it is important to note the business environment for the various emirates, especially for foreign investors. The Ras Al Khaimah (RAK) is one of the emirates which currently represents marvelous investment opportunities to investors all around the world. Having received an award from the Financial Times as the “Most Attractive Place in the Middle East for FDI,” the emirate keeps spurring systems that enables and promotes investments.
The political atmosphere in Ras Al Khaimah depicts the emirates interest in embracing local and foreign investors. With its natural beauty and unique location, the emirate keeps hold of traditional Arabic traditions and heritage that attracts lots of visitors. Located so close to Dubai, the government of the emirate has opened its arms to receive investors by offering a unique business environment through the Ras Al Khaimah Investment and Development Office (RAKIDO). The RAKIDO works to provide unique benefits and partnership opportunities to foreign investors, who enjoy a 100 per cent income and corporate tax exemption â€“ yes, 100 per cent tax exemption; something you will find nowhere. Usually, governments will like to make the best out of businesses and will set a specific tax exemption years (usually 3-5 years). Having benefit the tax exemption, the RAKIDO also ensures that businesses do not have a sophisticated business registration procedures as this mostly make investorâ€™s loose interest in a pre-identified attractive market. Additionally, the government of RAK has put in place measures to make investments in the emirate more and more beneficial. Investors in any sector of RAK can boast of a 100% capital and profit repatriation accompanied with a transparent legal framework throughout doing business in the emirate.
With all these systems in place, it is no surprise that the emirates annual investment forum termed as the Ras Al Khaimah Finance & Investment Forum attracts investors and entrepreneurs from all sectors of businesses from the United Arab Emirates, the MENA region, different parts of Europe, Asia, USA, Canada, and South America.