The Emirate of Ras Al Khaimah (RAK) is no longer just a desirable haven for tourists and expats. Its growing reputation as a thriving and respected business hub, along with its dynamic environment and wealth of opportunities, means RAK is attracting investment and entrepreneurs from around the world.
The Future is Bright: RAK’s Mega Developments:
The announcement of RAK Central, a brand new high-rise business district scheduled to launch in 2026, signifies the Emirate’s unwavering dedication to becoming a premier business destination. This state-of-the-art Marjan development will boast 3 million square feet of rentable office space, 4000 apartments and 3 hotels, promising world-class infrastructure, top tier amenities and a vibrant community.
Adding to the excitement is the hotly anticipated 2027 launch of the $2 billion Wynn Integrated Resort on Al Marjan Island. This unique mega-development will create thousands of jobs, attract luxury tourism and further boost RAK’s economic prospects.
Cost-Effective Advantages:
RAK government is responsive to the unique challenges faced by businesses, especially those in the startup stages. Setting up shop in RAK is remarkably cost-effective and low corporate taxes equate to more profit and greater competitiveness. RAKEZ, the Emirate’s main freezone authority, provides hundreds of competitively priced business licenses that cater to a wide range of industries. You can even obtain a dual license, enabling trade within the freezone and on the mainland which is pertinent to some companies requiring this flexibility. For creative freelancers and digital and virtual asset based businesses, RAK Digital Assets Oasis (RAKDAO) is a specialist freezone authority in this area, offering an array of tailored licenses and packages for digital service providers and virtual asset entrepreneurs. Once you are set up with your license, RAK’s leading bank, RAK Bank offers low-cost banking and lending options, simplifying financial operations and allowing you to manage cash flow with ease.
Effortless Business Setup:
Setting up a business in RAK is refreshingly straightforward. The Emirate prides itself on its streamlined, often digitized processes with minimal bureaucracy, allowing you to focus all your energy on building an empire. RAK government is extremely supportive towards startups, welcoming 100% foreign ownership and foreign direct investment across sectors. This translates to greater control and flexibility for your company, ensuring you operate efficiently and with complete autonomy. When you decide to take the leap and set up your business in Ras Al Khaimah, RAKEZ provide a range of helpful services, making the process faster, smoother and stress free.
Strategic Location, Global Reach:
RAK’s geographical positioning places it conveniently at the crossroads of Asia, Europe and Africa, making it a global gateway with exceptional connectivity to major markets. This translates to a significant advantage – your business gains immediate access to an expansive consumer base, world-class infrastructure and cost effective transport options, ensuring a seamless movement of cargo, and in turn, allowing you to operate competitively on a global scale.
Grow Within a Thriving Ecosystem:
Beyond the ease of setup, RAK offers a supportive ecosystem that fosters business growth. Co-working spaces, business centers and networking groups exist to provide entrepreneurs with the resources and connections they need to excel. Additionally, a skilled and multilingual workforce is readily available, ensuring you can build a strong and diverse team to support your operations.
Ready to Take Flight?
If you’re looking for a dynamic business environment with a supportive government, strategic location, cost-effective advantages, and a thriving business community, RAK is the ideal base for established businesses and entrepreneurs alike. Committed to fostering innovation and growth, RAK provides the perfect launchpad to help your business soar to new heights.
Got any feedback or suggestions? We’d love to hear from you! Feel free to reach out at hello@heartofrak.com