Ras Al Khaimah (RAK) Summary
Ras Al Khaimah (RAK) is the fourth largest Emirate in the United Arab Emirates with 250,000 inhabitants. Located in the northeastern part of the Emirates Ras Al Khaimah is ideally located as it borders all of the other Emirates, except Abu Dhabi. Like Dubai, RAK hopes to diversify its economy with new industrial and service sector activities in order to prepare for the energy transition. Encouraged by the Government, this process of economic diversification provides the Emirate with strong, stable growth.
Growth stability makes it possible to attract more Foreign Direct Investment and to promote tourism by increasing the region’s reputation.
The RAK Free Trade Zone
With its ultra modern infrastructure this unique area is divided into three investment parks organised by activity. There are currently more than 5,000 companies registered here representing 106 different nationalities. This is one of the most dynamic free trade zones in the world and it allows 100% ownership of the company for the investor.
The Business Park offers modern offices within a developed business district. The Industrial park is located on the coast and was the birthplace of various major businesses. The Technology park covers an area of 250 acres in the southern part of the Emirate and services light industries. Administrative procedures are even more simplified within the FTZ than in the rest of the UAE.
Ras Al Khaimah (RAK) Tax System
As in the rest of the UAE, RAK tax rates are very low and enable significant tax savings. Companies are not subject to tax and employers are not required to pay any social security of tax contributions. Personal tax only applies to certain activities and remains very limited. There is no income tax, and RAK tax policy follows that of the UAE.