In today’s dynamic global landscape, UK businesses have carved a reputation for innovation, quality, and unwavering ambition. Talented and creative British business owners, investors and entrepreneurs are some of the key drivers behind this. To bolster their success, UK businesses are increasingly looking to ‘go global’, by tapping into new markets, sectors, and talent.

Navigating market challenges
Nevertheless, recent years have been marked by economic turbulence in the UK, characterised by the aftermath of Brexit and unprecedented disruptions caused by the pandemic and inflation. Rising operational costs and tax burdens have compounded these challenges, creating a pressing need for better business-friendly environments conducive to growth and expansion.

As British businesses seek new avenues for growth in an uncertain economic climate, there is one part of the world emerging as a beacon of opportunity, offering a strategic gateway to tap into the MENA and Asia markets, and beyond. That place is Ras Al Khaimah, the Emirate in the United Arab Emirates undergoing a significant transformation, where I have the privilege to live and work as the Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), one of the largest Economic Zones in the region.

A one-stop solution for all your business needs
Just a 45-minute drive from Dubai, Ras Al Khaimah is the northernmost Emirate of the UAE, boasting a robust infrastructure and supportive ecosystem that positions it as an attractive destination for global businesses. At the heart of this economic landscape lies RAKEZ, our award winning Economic Zone that serves as a testament to the Ruler of Ras Al Khaimah and UAE Supreme Council Member His Highness Sheikh Saud bin Saqr Al Qasimi’s commitment to fostering business growth. With over 23,000 businesses₁ – including a significant number of UK companies (roughly 1,700) – RAKEZ is a powerhouse that offers a comprehensive suite of services tailored to meet the diverse needs of investors and entrepreneurs interested in setting up shop here. Our Economic Zone not only provides clients with cost-effective set-up packages, modern facilities, and first-class services to help them reach their full potential, but also supports individuals in finding a place to live from the range of high-quality housing options; settling their families into high-achieving international schools; and integrating into our welcoming communities.

A business-friendly zone at its core – with a bespoke and supportive offering for any size or sector
RAKEZ stands as a leading example of a business-friendly ecosystem by nurturing and supporting foreign investors, entrepreneurs, start-ups, and SMEs, while providing easy access to global markets. Our attractive offering includes 100% foreign ownership of companies, 0% personal tax, 0% withholding tax, only 9% tax on corporate income (one of the world’s lowest rates), 5% VAT, and 100% repatriation of capital and profits. Moreover, RAKEZ offers 10% lower development costs than the regional average.

For example, prominent British companies like Ahmad Tea, a renowned global tea manufacturer; A2C, a leading laptop remanufacturer worldwide; as well as Spatial Composite, a top-tier aircraft cabin simulator producer, manufacturers such as Manchester Paper bags and JRL Fabrications, which all operate successfully under our RAKEZ umbrella have flourished in the region with our support.

At the centre of a strong, resilient, and diversified economy
RAKEZ sits within the growing Emirate of Ras Al Khaimah, which in itself offers a wide array of investment opportunities across various sectors. The economy is characterised by its resilience and diversification, where no single sector contributes more than 1/3 to GDP. Having been consistently rated in the ‘A range’ by international ratings agencies for over fifteen years, and forecast to enjoy continued growth, Ras Al Khaimah is an attractive destination for investors seeking stability and prosperity. The Emirate benefits from its position within the wider UAE ecosystem, which last year was listed among the top ten most competitive countries in the world.₂

Now, with free trade negotiations under way between the GCC and the UK, opportunities for Britishbusinesses are only set to grow.

A prosperous future
As we progress towards a future of prosperity and opportunity, Ras Al Khaimah emerges as a strategic destination set for growth and success. Simultaneously, RAKEZ’s commitment to customer satisfaction and its dedication to fostering a business-friendly environment makes it an ideal partner for UK investors seeking to expand internationally. 2024 heralds a new era of economic potential, and RAKEZ is extending an invitation to UK investors to join us, expand their businesses internationally, and be part of Ras Al Khaimah’s rise to eminence.

1 RAKEZ

2 World Competitiveness Ranking, 2023