Ras Al Khaimah Investment Authority (RAKIA) has been established in 2005 to strengthen the investment environment in the emirate and promote various economic sectors leading to a comprehensive development of the region. RAKIA has the vision to build a diverse economy through a strong and sustainable development, by attracting both domestic and international investments, leading to wealth creation and improved standard of living. To achieve this RAKIA strives to make the investment experience simple, easy and a pleasant experience.
RAKIA is focusing on developing and managing the industrial parks in Al Hamra and Al Ghail areas. Beyond just developing the real estate RAKIA goes an extra mile by providing investment advisory services as well as equity participation in selected projects, resulting in trusted environment and network of opportunities. RAKIA is also setting up a free industrial zone in Georgia.
RAKIA has focus on eight strategic business units. They are Industrial parks, Education & Technology, Real Estate, Transportation, Investments, Manufacturing & Energy, RAK Offshore and RERA.
RAKIA Industrial Parks have been established in 2005 with both fee and non free zones and presently house more than 2400 businesses from 96 countries. 24% are consulting firms, 25% are commercial, 23% are industrial, 18% are trading and 10% are media companies. These are the five types of license issues by RAKIA. The investors can form two types of companies; establishment and Limited Liability Company.
RAKIA offers both free zone and non free zone operations. The difference is that for non free zone companies 51% local partner is required and they can do business within UAE. The local labor laws will be applicable.
RAKIA offers personal attention and has a simple and easy single window processing for licensing as well as visa formalities. RAKIA offers land for industrial activities, Warehouses and light Industrial units, Business towers / office space, commercial centre, workers accommodation and executive residences.
RAKIA offers many financial incentives to the investors which include 100% corporate and income tax exemption, 100% capital and profit repatriation, 100% foreign ownership, currency flexibility, no foreign exchange control, avoidance of double taxation with many countries and no labor restrictions.
RAKIA has signed a memorandum of cooperation with banks in the emirate which will ensure that the investors are provided with easy financing.
RAKIA offers good infrastructure ad logistical support, easy access to huge market, excellent port facilities, minimum bureaucracy and a very investor friendly environment.
RAKIA ha forged strategic partnerships with many international companies which has resulted in a diverse product portfolio including DVD manufacturing, cement, automotives assembly, rubber, building materials, table ware, float glass, steel, electrical equipment, plastics and food materials.
RAKIA has recently commissioned two power plants of 65MW and 45 MW capacities, ensuring easy and abundant availability of power.
RAKIA also offers a wide range of corporate and business advisory services, which ensure that the businesses thrive and grow profitably.
The infrastructure is of excellent quality and very cost effective, leading to improved business viability for the investors.
After technical and commercial approval of the clients’ projects, the license and the infrastructure lease agreement are issues to the clients. The infrastructure includes industrial land, office space, warehouses, executive residence, studio flats and labor accommodation.
With an innovative and comprehensive approach RAKIA is leading a comprehensive development and growth strategy in the emirate.