Be it an SME planning for global expansion or an entrepreneur keen on setting shop abroad, none can ignore the lucrative business opportunities in the UAE. Moreover, the country is working towards easing the business process in order to get more investments. Ras Al Khaimah (RAK) Investment Authority has been entrusted with the duty of helping businesses set up shop without any hassles.
RAK Investment Authority is a full-fledged business and industrial arena offering competitive Free Zone and Non Free Zone facilities . It also provides industrial and business investors the benefit of smooth set up of their operations in a dynamic and synergistic environment.
In a conversation with Supportbiz, Ashok Sridharan, Management Accountant of RAK Investment Authority, said, “the benefit of starting a business in UAE is that it gives access to the Middle East market which is a big market. Hence it will open up new avenues of business in the Gulf Region”. RAK Investment Authority has revolutionized the way of business is done in the region. He also added, “about 30% of investors are coming from India“ which also accelerate the manufacturing sectors of the country."
SB: What are the major features offered by RAK Investment Authority for starting a business in Dubai?
Ashok: The main features offered by RAK Investment Authority are as follows:
- RAK Investment Authority offers both Free Zone and Non-Free Zone facilities for its clients. This enables clients to choose the solutions that best fit their strategic business objectives.
- Ras Al Khaimah has a forward-looking, responsive government with a progressive, pro-business attitude and a strong commitment to the private sector
- Offers a wide array of business licences, properties, permits, visas and amenities – all under one roof.
- Offers quick and efficient services for business formation and follows-up services.
- Offers customised business formation solutions for its clients. Potential investors can choose from different categories of licences, business activities, legal structures, facilities etc. that are suitable for their business requirements.
- Provides better communication and transparency of legalities and administration
- Investors can enjoy the benefit of sourcing staff and hiring labour both internationally and locally, with no restrictions, to suit the needs and requirements.
- The UAE currency observes a steady rate against the US Dollar. This is of great advantage and ease to all business transactions at any time.
SB: What are the packages RAK Investment Authority Provide for starting a business?
Ashok: RAK Invest Authority has designed three packages thinking of the business environment because it understands that different businesses require different needs.There are plans for the Small business, micro enterprises and also for StartUps with the range from 15,000AED/year to 20,000AED/ year as per the business perspective.
SB: What is the first step an Indian SME should take to expand business in UAE?
Ashok: First they have to be well versed about their business plan and their objective of expanding. At the initial stage, my opinion would be to start an office in UAE slowly once their business is accepted in the UAE business environment then they should start to expand their network.