Obviously, most people around the world wants to have one or two vacation in one of the emirates in the UAE. Dubai receives numerous visitors in a year and currently, the GDP of the emirate is substantially dependent on tourism now. As most visitors will fly into Dubai, the fun and stay of vacations do not stay in Dubai. One hour away from Dubai is one of the emirates hosting some favorite developments in the United Arab Emirates – the Ras Al Khaimah (RAK).
RAK is a must visit location for anyone seeking to learn more about traditional Arabian culture coupled with ultra-modern cosmopolitan life. It is currently developing some of the super fine properties projects including the beautiful waterside Bermuda Villas, Mina Al Arab, Julphar Towers, and the Julphar Residence which is expected to open in the fourth quarter of 2018. With all the projects in the pipeline, it is clear that so much investments is happening in the emirate and Ras Al Khaimah is really on the move in terms of development.
Most interestingly, the emirate has been ranked as one of the places to enjoy modern architecture and infrastructure while spending less. The costs of living and doing business in RAK are markedly lower than in other Emirates, and far below those of traditional financial centers such as London, New York, or Mumbai. This is possible because the government sees a wider and better emirate if it welcomes people from different part of the world an opportunity to invest into the emirate.
The firm economy of RAK paired with a stable political environment makes it a dynamic and exciting place to invest. Not only does RAK welcome the big investors who would love to do the super mega projects in the emirates but they openly receive and provide an enabling environment for array of opportunities for developing enterprises of all sizes – including assistance in acquiring all registration documents, and tax free operations. The emirate has its own investment authority; the Ras Al Khaimah Investment Authority (RAKIA) which is currently growing very rapidly with over 3,500 companies within its network. From the 13th to 14th December, this year, at the Rixos Bab Al Bahr in RAK, the emirate will hold its finance and investment forum termed as the Ras Al Khaimah Finance & Investment Forum (RAKFIF)- which is an investment opportunity forum for investors all around the world looking to invest in RAK.