The UAE is one of the Middle East’s most peaceful countries- a wealthy and stable hub that’s developing at an astonishing pace. The country was founded in 1971 as a federation of seven emirates, of which superlative Dubai with the craving northernmost emirate Ras Al Khaimah usually captures all the headlines.
Since the discovery of oil in the 1960s, the UAE has used its oil wealth to fuel a construction boom previously unknown in the Middle East. Today, the UAE is a thriving business centre with the second largest economy in the Arab world and it has been successfully diversifying its economy.
The emirates being the member of WTO and OPEC is successively witnessing massive construction boom, an expanding manufacturing base, and a thriving services sector and is therefore, experiencing continued economic growth and is offering immense opportunities for foreign investment. If considering work culture; Emirati people prefer to do business in person and for those who are looking for a business in UAE, it’s important to have connections to someone in the UAE who can introduce you and nurture your relationships with them.
The northernmost emirate of UAE with only an hour’s drive from Dubai is the landscape more diverse than the beguiling blend of sandy beaches, sprawling lagoons, mangrove forests, desert, hot mineral springs, and date farms, all backed by the mighty massif of the Hajar Mountains. Renowned for its natural beauty and art de vivre, Ras Al Khaimah has also gained a reputation for being a transparent, tax-free, corruption-free and no-red tape to do business.
The Emirate has the highest standard infrastructure with access to more than 170 shipping lines and approximately 86 airlines connecting to over 100 cities worldwide. It covers an area of 1,700 square kilometers with a population of about 250,000 inhabitants. Ras Al Khaimah has become a true trading and industrial hub to capitalize on its marvelous assets.
The RAK Investment Authority (RAKIA) launched the concept of the International Business Company in January 2007 and it has since become one of the most popular offshore destinations. It is one of the most beguiling offshore jurisdiction in the UAE allowing 100% foreign ownership, exempt from all corporate and income taxes, full repatriation of profits and capital, with no foreign currency restrictions and comes-up with many more profits.
RAK Investment Authority (RAKIA) is a preeminent business destination committed to providing a pro-business environment, regulatory stability and robust infrastructure in the emirate of RAK in UAE. Comprised of two dedicated industrial parks, a combined area of 30-million square meters, RAKIA provides hassle-free business set-up, state-of-the-art facilities and economical solutions to help clients compete regionally and globally.
Getting the right permit, finding the best physical area and managing the corporate foundation essentials can be overpowering, particularly in case you're an fresh business person. Let the right specialists help you with those endeavors. The GBS group will manage the greater part of the strategies that will prompt the issuing of an professional license Dubai.