Ras Al Khaimah (RAK), historically known as Julfar, serves as the largest city and capital of the Emirate of Ras Al Khaimah in the United Arab Emirates. Positioned in the country’s northernmost region, it ranks as the sixth-largest city in the UAE. The city is geographically divided by a creek into two distinct areas: the old town to the west and Al Nakheel to the east, with a population of approximately 345,000 residents.
A Diversified Economy
In contrast to some of its Emirates counterparts, Ras Al Khaimah did not strike oil. However, this unique circumstance has led to the development of a highly diversified economy, with a focus on flourishing tourism, robust service industries, and a thriving real estate sector.
Ras Al Khaimah offers a diverse range of environments, including coasts, deserts, plains, mountains, and rural lands, providing abundant options for businesses and housing. The city is home to the Ras Al Khaimah Economic Zone (RAKEZ), facilitating connections between investors and international markets. RAKEZ serves a wide spectrum of businesses, ranging from freelancers to small and medium enterprises (SMEs) and startups across 50 industries.
Beyond its economic pursuits, Ras Al Khaimah boasts numerous heritage and tourism sites, and it is recognized for having the most fertile agricultural land among the emirates. This diversity contributes to an active tourism sector and a thriving industrial sector with extensive development plans in progress.
Ras Al Khaimah Economic Zone (RAKEZ)
Investors receive economical setup packages, contemporary amenities, and top-notch services aimed at maximizing their potential. With its strategically advantageous location, RAKEZ establishes connections for investors to burgeoning markets in the Middle East, North Africa, Europe, South, and Central Asia.
Over 15,000 companies from 100-plus countries operate across approximately 50 diverse industries within RAKEZ. It serves as a gateway to international trade, ensuring companies engage in activities responsibly and in compliance with all relevant laws and international best practices. RAKEZ has implemented an efficient compliance framework that proves beneficial for all investors.
Benefits of Investing in RAKEZ
Investing in RAKEZ offers a host of advantages. Whether choosing free zone or non-free zone entity formations, investors gain the edge of 100% foreign ownership, fostering a business-friendly atmosphere. The business setup processes are renowned for their speed and efficiency, ensuring a seamless experience.
RAKEZ offers a diverse array of business and industrial facilities, with the flexibility to construct on-site staff and labor accommodations. A one-stop shop for all government services, RAKEZ streamlines administrative procedures, enhanced by a self-service customer portal for investor convenience.
Strategically located, RAKEZ provides connectivity to major logistical hubs and multi-lane superhighways, optimizing transportation and distribution networks. Further enhancing accessibility, RAKEZ maintains an international presence through a network of regional offices.
Investors at RAKEZ also enjoy easy access to markets across the Middle East and North Africa (MENA), Europe, and Asia regions. This comprehensive suite of advantages solidifies RAKEZ as a premier destination for those seeking a supportive and conducive environment for their business ventures.
RAKEZ Zones
Ras Al Khaimah Economic Zone has six dedicated zones each suitable for different types of activities:
Al Ghail Industrial Zone: Optimal choice for the establishment of expansive industrial manufacturing ventures.
Al Hamra Industrial Zone: A modern hub for both light industries and heavy industrial projects.
Al Hulaila Industrial Zone: For enterprises focusing on heavier industrial manufacturing.
RAKEZ Academic Zone: Hub for accredited international educational institutions and service providers.
RAKEZ Media Zone: The realm for creative companies and professionals spanning diverse media sectors.
RAKEZ Business Zone: A modern area in the city center, featuring top-tier business centers.
Business Licenses for Every Venture
RAKEZ provides a diverse range of license types that encompass various activities:
Commercial: Appropriate for engaging in the trade of services and commodities.
Educational: Ideal for establishing an educational institution or consulting firm.
E-commerce: For engaging in the electronic commerce of goods and services.
General trading: Suitable for engaging in the trade of various goods.
Individual/professional: For a single owner with a specific specialty or expertise engaged in a singular activity.
Industrial: Ideal for the production, importation, packaging, and exportation of products.
Media: Ideal for conducting business activities related to the media sector.
Professional: Designed for individuals offering professional services.
Service: Providing services or consultations across various industries.
Freelancer permit: Designed for individuals in the media and education sectors.
Facilities
RAKEZ offers a wide variety of facilities to investors. These facilities include co-working spaces, serviced offices, standard offices, executive offices, shell and core offices, warehouses, land for development, and staff and labor accommodation.
Whether you choose to set up your company as a free zone entity or a non-free zone entity, you’ll experience a business-friendly environment with numerous advantages. Enjoy zero income and corporate taxation, ensuring untaxed earnings, and the flexibility of 100% ownership with the freedom to repatriate profits. Seamlessly access the local market through a local agent, streamline operations, and take advantage of no customs duty on re-exported goods for international trade.
Enjoy the freedom to source labor as needed. If you opt for a non-free zone entity and establish it in association with a UAE partner, you can benefit from direct sales in the local market, exempt from customs duty in both local and GCC markets, while adhering to the UAE Labor Law.
This comprehensive set of features creates an optimal environment for your business endeavors, whether in a free zone or non-free zone entity.
Tourism Paradise
Ras Al Khaimah stands out for its remarkable natural beauty, recreational opportunities, adventurous pursuits, and authentic experiences. Boasting an extraordinary history spanning over seven millennia, this northernmost Emirate in the UAE has evolved into one of the most desirable destinations in the Middle East.
Ras Al Khaimah extends a warm welcome, combining world-class hospitality with genuine Emirati history. While the emirate embraces a liberal atmosphere, it is advisable to be culturally sensitive, especially when exploring the enchanting historical sites and mosques. Conveniently accessible through excellent bus and taxi services, Ras Al Khaimah allows tourists to easily explore diverse areas encompassing natural wonders, historical gems and modern resorts.
Must-See Attractions
Tourists can explore the dynamic array of events and attractions that unfold year-round in this pet-friendly emirate. They can delve into the excitement of the world’s fastest half-marathon, be captivated by the spectacle of super and classic car rallies, immerse themselves in festivals alive with art and music, witness the breathtaking Guinness Record-breaking fireworks, or set out on a quest to discover hidden gems in a deserted fishing village. The most famous tourist attractions of RAK include Dhayah Fort, Al Jazeera Al Hamra historical pearling village, Mohammed Bin Salem Mosque, National Museum of Ras Al Khaimah, Flamingo Beach, Sheikh Zayed Mosque, RAK Natures Treasures, Queen of Sheeba’s Palace, Al Marjan Island, Mina Al Arab, and Khatt Village.
Activities for Every Taste
Ras Al Khaimah is renowned globally for its extensive array of activities. Whether it’s the serene white sandy beaches, the mangroves teeming with flamingos, or the majestic Jebel Jais Mountains offering eternal natural beauty and exhilarating adventures, the northernmost emirate caters to diverse interests. Here is a list of activities you can embark on:
Jais Flight: You can experience the world’s longest zip line with an almost 3-kilometer length.
Suwaidi Pearls: You can see the pearl farms and see the process of pearl extraction.
Equestrian Centre: It’s a place where you can ride Arabian horses and see the national animal of UAE, Arabian Oryx.
The Bear Grylls Explorers Camp: There is a variety of activities that tourists can enjoy including the Jais Ropes Course.
Action Flight Balloon Experience: Tourists can enjoy unique experiences like hot air balloon flight adventures, aerobatic flight experiences, scenic flights, and tandem skydiving.
Al Jazirah Aviation Club: Here you can experience flying using various means of aviation.
Al Sawan Camel Race Track: You can enjoy early morning camel races.
Music Zone: The first and most extensive music school and recording studio in the UAE.
Shopping Delights
There are four malls in RAK each with their unique set of features.
RAK Mall: The mall, spanning three floors, features more than 30 shops that host a superb selection of both local and international fashion brands. It also includes banks, telecommunications outlets, homeware stores, fine dining options, entertainment facilities, and car valet services.
Al Hamra Mall: Situated in the acclaimed residential community of Al Hamra Village, Al Hamra Mall stands as one of the well-received malls in the Emirate. With two stories, it boasts an extensive array of over 130 shops.
Manar Mall: Positioned along a striking waterfront promenade in the heart of the city, Manar Mall is host to more than 120 retail stores.
Al Naeem Mall: Situated at the heart of Ras Al Khaimah city, Al Naeem Mall rests along the harbor’s banks. This shopping destination caters to all ages, featuring a diverse range of offerings such as high-end branded stores, boutique shops, technology and telecommunications outlets, supermarkets, home stores, and an array of international dining facilities.
Conclusion
The fact that oil has not been found here has worked well for the emirate. Ras Al Khaimah has focused on industrial and tourist activities equally. No matter what your main intention is, you can always have an eye for the other. RAK has gathered business and pleasure in one place.