INTRODUCTION TO RAK INVESTMENT AUTHORITY
RAS AL KHAIMAH AT A GLANCE Ras Al Khaimah (RAK), one of the seven emirates of the United Arab Emirates, is located approximately 100 km northeast of Dubai and is the northernmost emirate in the UAE. § Extremely safe, secure and stable emirate; with Fitch rating of A and S&P rating of A/A-1 § Political and economic stability § Average GDP growth of 8% annually since 2011
Saqr Port Ras Al Khaimah Hamriya Port SUBSTANTIAL LOGISTICAL ADVANTAGES Dubai Fujairah Port Jebel Ali Port Abu Dhabi A strategic gateway to the Middle East, Africa and Asia, Ras Al Khaimah’s geostrategic location in the Arabian Gulf provides investors with easy access to growing markets . UAE’s first point of entry in the Arabian Gulf § Easy access to strategic markets in the MENA Region § Proximity to express highways, seaports & airports § Planned railway network by 2018 § 4-hour flight time to 31% of the world’s population § 3
A DIVERSE ECONOMY FOR INVESTORS TOURISM SERVICES SECTOR EDUCATION TRADING & LOGISTICS INDUSTRIAL SECTOR REAL ESTATE & DEVELOPMENT 4
UAE GLOBAL TREATIES AVOID DOUBLE TAXATION Africa Asia Europe § Morocco § Armenia § Austria § Mozambique § Azerbaijan § Belarus The UAE has signed numerous bilateral treaties around § Sudan § China § Belgium the globe to avoid double taxation on earned income § Tunisia § India § Bosnia for individuals and companies doing business abroad. § Indonesia § Bulgaria § Japan § Czech § Malaysia § Finland § Mongolia § France Middle East BENEFITS § Pakistan § Germany § Jordan § Philippines § Greece § Reduction of double taxation § Kuwait § Singapore § Italy § Lebanon § South Korea § Luxembourg § Eliminating tax evasion § Syria § Sri Lanka § Malta § Yemen § Encouraging cross-border trade efficiency § Thailand § Netherlands § Turkmenistan § Poland § Improving certainty for tax payers and tax § Uzbekistan § Romania § Spain authorities in their international dealings North America Australia § Switzerland § Turkey § Canada § New Zealand § Ukraine 5
LOWER COSTS & HIGHER RETURN ON INVESTMENT COST OF SETTING COST UP A BUSINESS OF LIVING 25-30% LOWER THAN SUBSTANTIALLY LESS ALTERNATIVE FREE ZONES THAN THE UAE AVERAGE The UAE’s currency, the United Arab Emirate Dirham (AED), is pegged against the US dollar at a fixed rate of AED 3.673 = USD 1 6
HIGH QUALITY OF LIFE IN RAS AL KHAIMAH EDUCATION HEALTH CARE RECREATION CULTURE RESIDENTIAL DEVELOPMENT TOURISM 7
FREE ZONE VS NON-FREE ZONE There are two main opportunities for starting a business in Ras Al Khaimah: FREE ZONE COMPANIES NON-FREE ZONE COMPANIES No customs duty No customs duty Indirect sales in Direct sales in for sales in local on re-exported local market local market or GCC markets goods 100% foreign Up to 49% ownership ownership and and 0% tax 0% tax Profit 100% profit Freedom to repatriation as UAE labour repatriation source labour per partner laws contract 8
A COST-EFFECTIVE GATEWAY TO GLOBAL MARKETS RAK INVESTMENT AUTHORITY § Established in 2005 § One of the fastest-growing free zones in the UAE that provides custom-made business solutions at lower cost § Offers a completely tax-free environment, visa sponsorships and freedom to source labour and materials globally § Provides award-winning business support services § The investment destination of choice for more than 500 manufacturers and thousands of SMEs from over 100 countries. His Highness Sheikh Ahmed bin Saqr Al Qasimi Chairman, RAK Investment Authority Member of Ruling Family of the Emirate of Ras Al Khaimah 9
NUMEROUS SERVICES & BENEFITS § 0% customs duty on re-exported goods § 0% taxation and 100% ownership § Residence visas § Range of facilities § Value- added services § Quick and easy company registration § Flexible recruitment 10
QUICK & EASY COMPANY SET-UP RAK Investment Authority provides all you need to set up your company in the UAE in just three easy steps. Our one- stop-shop approach makes it easier and faster to get your licence, set up a legal entity, and begin profitable operations. 1 CUSTOMISE YOUR PACKAGE 2 SUBMIT APPLICATION, DOCUMENTS & PAYMENT 3 ISSUANCE OF BUSINESS LICENCE 11
CUSTOMISED SOLUTIONS TO FIT YOUR BUSINESS NEEDS TYPES OF COMPANIES BUSINESS LICENCES NON FREE ZONE FREE ZONE Industrial Trading/General Commercial Trading Limited Liability Establishment Local or Foreign Consulting/ Media Company Branch Services (2 or more partners) 12
FACILITIES RAKIA offers suitable business facilities to ease clients’ business operations: INDUSTRIAL LAND WAREHOUSES OFFICES FLEXI FACILITIES 13
A WIDE RANGE OF VALUE-ADDED SERVICES RAK Investment Authority provides you with all the necessary requirements to set up your company in the UAE. § Conference room facility § Business lounge for networking and executive meetings § High speed internet access § Administrative assistance 14
VISA SERVICES RAK Investment Authority provides visa sponsorship services to registered clients. The eligibility of visas for a licenced company is determined by its facilities and scale of operations. § Investor Visa § Partner Visa § Employment Visa § Family Visa 15
RAKIA’S CLIENTS COME FROM ALL OVER THE WORLD 16
STRATEGIC BANKING PARTNERSHIP SERVICES PROVIDED: § Trade Finance (Working Capital Finance) § Project Finance (Term Loans / Syndicated Term Loans) § NON Funded Products - Bank Guarantee, Letter of Credit § Finance against Credit Insurance (Working Capital Finance) § Cost of Finance ranges from 6% to 10% 17
INDUSTRIAL SECTORS WITH OPPORTUNITIES The Middle East region presents investors with significant growth opportunities across sectors: AUTOMOTIVES BUILDING MATERIALS FOOD PROCESSING CHEMICALS METALS ELECTRICALS PLASTICS 18
GCC SECTORS - OPPORTUNITIES SECTORS PROJECTIONS § Total projected vehicle registration in GCC to reach 16.36 bn units by 2017 AUTOMOTIVES § Auto spare parts market to hit $16.85 bn (AED61.9 bn) by 2020 § $4.3 tr to be spent on construction in the MENA region by 2020 BUILDING MATERIALS § Interior & fit-outs segment to reach $15 bn by 2017 § Food consumption in GCC by 2017: 49.1 MMT § 70% of the food requirements is met through import FOOD PROCESSING § Consumer spending on food expected to reach $106 bn by 2017 § Import of Halal food into GCC to rise to $53.1 bn by 2020 § Middle East & Africa lubricant market $17.9 bn, approximately 4.8 MTP by 2019 CHEMICALS § Projects planned & underway across the MENA region, estimated at $2.5 tr § Paint and coating market is estimated to reach $3 bn by 2017 § Gulf polymer industry to produce over 33.8 mn tons by 2019 PLASTICS § GCC packaging sector, a $52 bn industry 19
A SELECTION OF OUR PARTNERS 20
WHAT CLIENTS SAY ABOUT RAKIA “Needless to say, with such “Ashok Leyland began its “We appreciate the support “The visa department has outstanding facilities and assembly operations with received from RAKIA’s been highly efficient in co-operation, local company RAKIA in UAE in 2006 and management in helping us approving applications and creation to the production has been increasing its set up a fully functional obtaining visas on time for of first bottles was all activities from year to year.” facility in Ras Al Khaimah.” our workers and staff.” achieved in 15 months.” Head of International Plant Manager, GCC Country Manager Plant Manager, Assembly Operations, GUARDIAN RAK & MD, SAVERGLASS LLC. ASHOK LEYLAND RAK VESUVIUS RAK FZ-LLC 21
WHAT CLIENTS SAY ABOUT RAKIA “We have been able to build “We found RAKIA to be a “RAKIA is the perfect base “In RAKIA we fulfilled our accommodation with all very helpful business for us to grow in our home needs and have found basic amenities for our partner with a progressive market and also globally.” RAKIA to be a supportive manpower right within the ‘can do’ attitude, which fits landlord with effective visa plant premises. This is both very well with Spatial’s own systems, prompt approvals CEO, cost-efficient and ethos.” and an understanding ETERNITY TECHNOLOGIES convenient.” management.” RAK CEO, Managing Director, President, SPATIAL COMPOSITE YOUNG HWA STEEL FZ-LLC SOLUTIONS FZE MABANI STEEL LLC 22
THANK YOU www.rakia.ae
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