Ras Al Khaimah – The ‘No Tax’ Emirate

The Gulf Cooperation Council (GCC) is incredibly driving global developments and attracting tourists and business men all over the world. The GCC region, especially the United Arab Emirates is a favorite spot for new developments. In this region is Ras Al Khaimah, which is found some minutes from Dubai and popularly known as the ‘No Tax’ Emirate.

Due to the openness of the Emirate to foreign investment and infrastructural development, the Ras Al Khaimah Investment Authority (RAKIA) continuously offers great partnerships and allows their investors to have access to a large network of businesses around the world. Also in Ras Al Khaimah (RAK), the emirate has been able to establish a free trade zone which allows traders (both local and foreign) to operate smoothly.

Although the Ras Al Khaimah Free Trade Zone (RAK FTZ) was established just about a decade ago, it is currently the investment destination of choice for more than 8,600 companies from over 100 countries, representing more than 50 industry sectors. To enhance sustainable economic development, the Government of Ras Al Khaimah operates under the concept of free enterprise to pave way for every level of business to survive.

The emirate is the fourth largest of the seven Emirates that form the United Arab Emirates and is ruled by His Highness Sheikh Saud Bin Saqr Al Qasimi. Later this year, the ruler of Ras Al Khaimah (RAK) will be opening the emirates finance and investment forum which will bring together diverse of people to witness the investment opportunities available in RAK.

The event is going to be a very great forum as the Emirate currently has an ‘A’ credit rating from both Fitch and Standard and Poors and prides itself on its transparency, governance and fiscal prudence.

Website: http://www.rakfif.com