The Ras Al Khaimah Free Trade Zone (RAK FTZ) of UAE is expecting a 15 per cent growth in the number of Indian investors and companies.
So far, around 2,000 Indian companies have set up base in the zone including Murugappa, Kotak Mahindra Bank and Zoom Developers, said Bisson Surnam, head (Indian operations), RAK FTZ.
The zone, which started with 15 companies back in 2000, now hosts more than 10,000 companies from 106 countries. It offers on-demand and custom-built support services to investors. It also offers a range of services, including legal, human resources and marketing assistance.
It is backed by legislation allowing 100 per cent foreign ownership, offers a tax-free environment, transparent laws and 100 per cent capital and profit repatriation. “We target to get 2,000 new clients every year from this year onwards,” he said. RAK is located strategically between Far East and Europe. “Many investors are coming just for trial to study the market. We are also allowing commercial trading license for the trial investors,” he said.