RAK FTZA invites Indian Firms to invest
Ras Al Khaimah Free Trade Zone Authority (RAK FTZA) embarked on a promotion drive and presented its state-of-the-art products, services and a new “offshore” corporate investment regime, to a full auditorium of chartered accountants and firm representatives in Mumbai, India. The presentations were led by Johnson Modayil, RAK FTZ Legal Advisor and his team. The availability and use of “International Companies”, incorporated in the Ras Al Khaimah free trade zone, is a timely innovative, cost effective regime for international investors.
This new international company regime will provide further flexible and low cost structuring solution for offshore or global investment for Indian’s at a time when cost saving has become critical in light of the global financial crises.
A flexible international company regime is typically used for structuring investment opportunities globally or for property development, asset holding and estate planning purposes. Therefore, an international company incorporated by the RAK FTZA, is an alternative adjunct for those Indian investors who do not necessarily wish to undertake free zone activities in the United Arab Emirates, but prefer to utilize these companies as holding companies, or as part of a corporate structure for GCC and other global investments generally.
The talk, which was held at the Acres Club, Chembur, centered around a timely discussion on these low-cost solutions and flexible options for opening or extending business operations within the United Arab Emirates and using the country as an economical global hub for international investments and asset holding generally.
For those Investors wishing to undertake business activities within the United Arab Emirates as part of the free zone, Modayil also highlighted the free zone's “Flexi Facilities”, which are available in convenient and very business-centric formats: the “Flexi-Desk”, designed for individual users, and the “Flexi Office” for those in need of a networked and modern office.
The RAK FTZ team handled a large number of queries after the presentation. From the initial response, it was obvious that RAK FTZ's amenities, services, and new International Business Company regime generated tremendous interest with chartered accountants seeking structuring flexibility in addition to reductions in transaction and holding costs for the international and global activities of their clients.
Oussama El Omari, CEO and Director General of (RAK FTZA) was very pleased with the response. He said, “By reaching out to countries with business establishments and organisations always on the lookout for expansion opportunities, we are tapping into a market that will bring in more mutually beneficial trade not only to Ras Al Khaimah but to the whole UAE.”
This presentation was the first of a series of presentations and seminars that RAK FTZ will be holding in major commercial centres in India, including New Delhi, Gurgaon, Mumbai, Chandigarh and Jaipur.
