Ras Al Khaimah has now become one of the preferred locations for setting up a business in the United Arab Emirates (UAE). But this was not an overnight change. Serious and consistent efforts clubbed with strategic advantages have made Ras Al Khaimah popular among entrepreneurs. In this article, we will inspect some of those factors and understand how Ras Al Khaimah is becoming the new business hub in the UAE.
1. Strategic location Located at the northern end of the UAE and on the coast of Arabian Gulf, Ras Al Khaimah is strategically located at the intersection of Europe, Asia and Africa. This prime geographical position makes Ras Al Khaimah a huge logistical advantage for businesses in the region. It is not just the location, Ras Al Khaimah strengthens this geographical advantage with five ports located in the emirate. This also includes Saqr Port which is the largest bulk-handling port in the Middle East. Other transportation facilities include an excellent road infrastructure that seamlessly connects Ras Al Khaimah with the rest of the UAE. The Ras Al Khaimah International Airport also plays a key role in helping business with transit of both passengers and cargo. 2. Abundant opportunities Ras Al Khaimah has one of the most diverse economies in the Middle East. The leadership of Ras Al Khaimah have made significant efforts in growing a diverse GDP composition in the region. The fact that no single sector makes up for more than 26% of the GDP shows how the diversification efforts have brought about great results. One of the positive side-effects of such diversity is abundance of opportunities in all sectors and at all levels. Be it manufacturing, tourism or anything in between, Ras Al Khaimah has plenty to offer for most business sectors. The region is home to around 38,000 companies from over 100 countries, which represent more than 50 industry sectors. 3. Sector-specific free zones One of the biggest reasons why Ras Al Khaimah is quickly becoming a business hub is the availability of sector specific free zones in the region. Ras Al Khaimah Economic Zone (RAKEZ) has set up various specialised zones across the region to cater to specific needs of businesses. Each sector-specific free zone offers various advantages such as simple business set-up, business-specific infrastructural facilities, straightforward procurement of business licences and more. The RAKEZ zones include - Al Ghail Industrial Zone - Al Hamra Industrial Zone - RAKEZ Academic Zone - Al Hulaila Industrial Zone - Al Nakheel Business Zone - Al Hamra Business Zone The state-of-the-art business parks and industrial areas offer customisable business solutions that allow entrepreneurs to set up quickly and start business operations. 4. Ease of doing business It is not just the sector-specific free zones that attract so many business owners to Ras Al Khaimah. The general ease of business set-up and operations are playing a huge role in making the region a new business hub in the UAE. Ras Al Khaimah has multiple entities that ensure transparency, ease and swiftness in the business set-up process. There are clear guidelines that one can follow and robust systems that minimise any hiccups during business set up. In Ras Al Khaimah, you can easily get the necessary manpower to support your business as well. The dedicated industrial zones generally provide accommodation facilities which helps with streamlined operations. 5. Commitment to digitisation The push to digitisation has also played a part in attracting many businesses to Ras Al Khaimah. With more and more government services now available through online portals, most procedures have become extremely simple to follow. Additionally, Ras Al Khaimah also provides single window solutions for many businesses, which saves a lot of legwork for any business. The continuous modernisation of the infrastructure in the region is only going to attract more modern businesses. 6. Stable and secure region Off all the things needed to build a successful business, stability and security ought to be among the most important ones. The residents and businesses in Ras Al Khaimah enjoy a great sense of security with extremely low crime rates in the region. Ras Al Khaimah has been rated AA+* in the Sovereign Ratings List by a reputed agency like S&P. This speaks volume when it comes to the discussion of stability in the region. 7. Great accommodation and leisure facilities Finally, Ras Al Khaimah is a great place to move to. Home to Jebel Jais, the UAE’s highest mountain, 64 km of white beach coastline and terracotta deserts, Ras Al Khaimah has plenty to offer for any outdoor lover. You will also find many wonderful residential communities, global educational facilities, advanced and accessible medical services and most importantly a thriving diverse community.
If you are also considering starting a business in Ras Al Khaimah, then you might want to check out RAKEZ. Our business experts will help you every step of the way. They will help you determine the specific services, licences and approvals necessary for the business set-up. It helps you focus on the business operations while everything else can be managed seamlessly. Interested? Contact us to know more.
1. What makes Ras Al Khaimah a strategic location for businesses? A. Ras Al Khaimah is located at the northern end of the UAE, on the coast of the Arabian Gulf. This prime position at the intersection of Europe, Asia and Africa offers a huge logistical advantage. The emirate has five ports, including the Middle East's largest bulk-handling port, Saqr Port. Excellent road infrastructure and the Ras Al Khaimah International Airport further enhance its strategic appeal. 2. What are sector-specific free zones in Ras Al Khaimah? A. Ras Al Khaimah Economic Zone (RAKEZ) has established several sector-specific free zones tailored to different business needs. These include Al Ghail Industrial Zone, Al Hamra Industrial Zone, RAKEZ Academic Zone, Al Hulaila Industrial Zone, Al Nakheel Business Zone and Al Hamra Business Zone. These zones offer benefits like easy business set-up, specialised infrastructure and straightforward licensing. 3. How is Ras Al Khaimah embracing digitisation? A. Ras Al Khaimah's commitment to digitisation includes offering many government services online, making procedures simpler and more efficient. Single-window solutions for various businesses reduce the administrative burden, and continuous infrastructure modernisation attracts modern enterprises. 4. Is Ras Al Khaimah a stable and secure place for businesses? A. Yes, Ras Al Khaimah is known for its stability and security with very low crime rates. The region has been rated AA+ in the Sovereign Ratings List by S&P, indicating a high level of stability.
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