Business Opportunities in the United Arab Emirates and RAK FTZ Presented by JOYCE CHOUKRI MARKETING OFFICER RAK FREE TRADE ZONE

UAE COUNTRY FACTS Population (in millions): 8,17 [2013], Only 16.5 % Nationals Area: km² Languages: Arabic (official language), English. Hindi and Urdu are spoken by a large portion of the emigrated population (Indian – about 1,3 millions in , Pakistani, Bengali). The United Arab Emirates consists of seven emirates: Abu Dhabi, Dubai, Sharjah, Umm al- Qaiwain,Fujairah, Ajman and Ra’s al-Khaimah. Abu DhabiDubaiSharjahFujairahRa’s al-Khaimah Export rank for Belgium: 17 [2011] Major economic cities: Abu-Dhabi, Dubai, Sharjah

U.A.E OPEN TO BUSINESS Advantages to doing business in the UAE include:  No restrictions on profit transfer or repatriation of capital.  No corporate or income taxes.  A currency, the Dirham, that is stable, secure and pegged to the US dollar.  Very low, or non-existent, import duties.  Competitive labor costs. Sectors with opportunities:  Construction services  Materials and supplies  Defense – Aerospace  Energy – Alternative Energy  Professional services  Select tourism products/services including high-end hotel brands  Healthcare and education services and products  Creative arts and media. The United Arab Emirates, with its rapidly developing infrastructure, investor-friendly policies and political stability, is undoubtedly one of the most attractive business destination in the region.

EXCHANGE WITH BELGIUM

ESTABLISHING A BUSINESS All businesses, whether industrial, professional, trading or services, must obtain a trade license from the emirate concerned before they can begin business in the emirate. Licensing procedures may vary from emirate to another and the necessary information is available from the Chamber of Commerce of the Emirate. Local Company: Under the law, all companies established in the UAE must have 51% ownership by UAE nationals or a company fully owned by UAE nationals. Free Zone Company: 100% foreign ownership permitted in Free Zones

UAE FREE TRADE ZONES What is a Free Trade Zone? A free trade zone (FTZ) is one or more purpose-built areas in a country where certain normal trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered to attract new business and foreign investment. Special Advantages of UAE Free Trade Zones 100% foreign ownership 100% income and corporate tax exemption 100% capital and profit repatriation No import and export duties

EMIRATE OF RAS AL KHAIMAH Ras Al Khaimah is one of the seven emirates that form the United Arab Emirates Ruler: HH Sheikh Saud Bin Saqr Al Qasimi Population: 300,000 Languages: Arabic and English Currency: Dirham (AED)

HISTORY AND TRADITIONS IN RAK Cultural dances Cultivating pearls Camels

LIFESTYLE IN RAK It is an ideal place to do business and leasure at the same time. Plenty of newly built beach resorts are in the Emirates in addition to golf courses. Waldorf Astoria and many 5 stars hotels are in the Emirate of RAK (Hilton, Cove Rotana).

RAK FREE TRADE ZONE RAK FTZ was founded in 2000 under the patronage of HH Sheikh Saoud Bin Saqr Al Qasimi and is now directed by Mr. Peter Fort who was assigned as CEO. Vision Achieve global brand recognition as a premium investment agency where customers find optimal business solutions. Mission Attract and maximise the growth of high value-added, knowledge based, technologically advanced and innovative businesses to benefit Ras Al Khaimah and help companies internationalise via a global office network.

GROWTH OF RAK FTZ

RAK FTZ SPECIALISED PARKS Warehouses Labour Accommodation Close to Emirates Road Executive Offices Flexi Facilities Business Centre Administration Land for Industrial Use Warehouses Close to Sea Port Labour Accommodation

RAK FTZ OFFICE NETWORK International Offices Extend business reach globally Support international marketing activities Provide certain customer services UAE Business and Promotion Centres Business and promotion centres in Dubai and Abu Dhabi Extend reach within the UAE Cater to the needs of existing and potential clients based in these cities Fairmont Dubai Dubai Festival City Abu Dhabi Mall

HOW TO SET UP A COMPANY ? Setting up a company in the UAE always involves a combination of the following: 1 2 3

FACILITIES

KEY ADVANTAGES OF RAK FTZ Wide range of facilities – from Flexi Facilities to large plots for industrial development 1 Variety of licences 2 Cost-effective alternative to Abu Dhabi and Dubai 3 Network of international offices –Istanbul, Cologne, Mumbai 4 Warehouses and land adjacent to port facility 5 State-of-the-art IP-based telecommunications technology 6 Quick and easy registration process ⁰ care approach – value-added services 8

MORE THAN 7000 SATISFIED CLIENTS FROM OVER 100 COUNTRIES

RAK FTZ See you soon in RAK Thank you for your attention. RAK Free Trade Zone- Government of Ras Al Khaimah Tél. : Site Web : Europe’s office: facebook.com/rakftz twitter.com/rakftz youtube.com/rakftz