INVESTMENT OPPORTUNITIES IN THE UNITED ARAB EMIRATES AND RAS AL KHAIMAH by Gulay Avci / Regional Manager of RAK Free Trade Zone 15 March 2018 1
WELCOME TO THE UNITED ARAB EMIRATES The stability, security and safety of the UAE, combined with its infrastructure, logistics services and strategic geographic location, make it a perfect launch pad to a wide variety of markets across the world. ▸ ▸ ▸ Europe Middle East Africa & South Asia 31% of World’s Population 76% of World’s Population Within Easy Flight 11% of World’s GDP 4 hours 53% of World’s GDP 8 hours 2
WORLD-CLASS INFRASTRUCTURE Proven infrastructure in the UAE eases supply chain barriers. UAE has extremely well developed transport, water, electricity, and telecommunications infrastructure. In addition, the UAE is investing USD $81 Billion in additional enhancements to its world class infrastructure. USD $11 Billion ▸ Etihad Rail USD $44 Billion ▸ DWC Al Maktoum ▸ DXB Expansion ▸ RAK Airport USD $36 Billion ▸ Abu Dhabi - Khalifa Port ▸ Dubai - Jebel Ali ▸ RAK - Saqr Port 3
TOP GLOBAL RANKING FOR LOGISTICS The UAE is currently ranked 17 th in the World Bank’s Logistics Performance Index (LPI), and ranked within the top 20 in all six LPI categories. Top 20 LPI Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 LPI Categories Country Region Singapore Hong Kong Finland Germany Netherlands Denmark Belgium Japan United States United Kingdom Austria France Sweden Canada Luxembourg Switzerland UAE Australia Taiwan China Spain SE Asia Europe Europe SE Asia N. America Europe N. America Europe Middle East SE Asia Europe On Time Delivery Customs and Border Efficiency Ease of Arranging Shipments Ranked 13 th Ranked 15 th Quality of Infrastructure Quality of Logistics Services Track & Trace Ranked 17 th Ranked 18 th The Logistics Performance Index (LPI) is a benchmarking tool based on a worldwide survey ranking the logistics “friendliness” of the countries heavily involved in trade. 4
RANKED NO. 1 AMONG EMERGING MARKETS LPI Rank Country Logistics efficiency makes the UAE the best positioned country to enable companies to enter emerging markets. Reducing supply chain barriers to trade could increase GDP up to six times more than removing tariffs. The effects of reducing barriers are not gradual; changes occur when tipping points are reached. Source: World Economic Forum 17 33 37 48 62 70 26 45 46 95 21 27 47 59 41 50 57 137 71 135 23 108 121 122 138 141 UAE Qatar Saudi Arabia Bahrain Oman Kuwait China Brazil India Russia S. Korea Turkey Mexico Indonesia Tunisia Morocco Egypt Libya Pakistan Afghanistan South Africa Ghana Nigeria Kenya Angola Ethiopia Economic Group GCC GCC GCC BRIC MIST North Africa South Asia Sub-Saharan Africa Sub-Saharan Africa 5
STABLE AND DIVERSIFIED BANKING SYSTEM ▸ Financial and monetary stability & sophisticated banking system ▸ Extensive credit facilities ▸ Various choices of financial service providers ▸ ▸ 23 local UAE banks ▸ ▸ 28 foreign international banks Sharia compliant Islamic Banking Multiple currency account options ▸ ▸ ▸ Non-resident accounts in domestic currency, freely convertible into foreign currency Offshore accounts Straightforward process for opening accounts with standard business documents ▸ Valid trade license or certificate of incorporation ▸ Power of attorney or Board resolution ▸ Passports, including resident permits, of key people 6
TAX-FREE CORPORATE PROFITS The UAE has a tax-free policy, meaning; No corporate tax No sales tax No personal tax No withholding tax Only oil, gas and petrochemical companies and branch offices of foreign banks are required to pay taxes All other corporate profits are tax-free 7
TAX-FREE CORPORATE PROFITS ▸ Ras Al Khaimah is governed by His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah ▸ Extremely safe, secure and stable emirate; with Fitch rating of A ▸ Very diversified, dynamic economy with free zone opportunities foreign investment, as well as freeholds and joint ventures ▸ Average GDP growth of 8% annually since 2011 ▸ Home to 12, 000 international businesses across nine free zone parks ▸ Headquarters to industry leaders such as RAK Ceramics, Julphar Pharmaceuticals and RAK Bank Emirate Size (km 2) Dubai 3, 885 Sharjah Ras Al Khaimah 2, 590 1, 684 Fujairah 1, 165 Umm Al Quwain 777 Ajman 259 8
RAK FREE TRADE ZONE AUTHORITY ▸ ▸ H. H. Sheikh Ahmad Saqer Mohamed Al Qasemi ▸ Chairman, RAK Free Trade Zone Member of Ruling Family of the Emirate of Ras Al Khaimah ▸ ▸ The Ras Al Khaimah Free Trade Zone (RAK FTZ) is a costeffective gateway for Europe, North Africa, the Middle East and South Asia. RAK FTZ is one of the fastest-growing free zones in the UAE, with more than 7, 500 companies from over 100 countries, representing more than 50 industry sectors. Established in 2000 RAK FTZ provides its clients with a tax-free environment, fast-track visas, freedom to source labour and materials globally, and ongoing business support services such as advertising, procurement, event management, recruitment and training assistance RAK FTZ provides the same free zone benefits and top-notch facilities that are available elsewhere in the UAE, but for substantially lower costs, allowing clients to maximise their return on investment. Ras Al Khaimah offers strategic access to the UAE’s major logistical centers and emerging world markets. 9
RAK FTZ OFFERS NUMEROUS BENEFITS TO ITS CLIENTS 100% Ownership Value-Added Services Range of Facilities to Suit Business Need No Taxation Benefits No Customs Duty on Re-Exported Goods Ease & Speed in Registering Company Flexible Labour (no quotas) Visas 10
COMPLETE SOLUTIONS & FACILITIES Business Licence ▸ ▸ Commercial General Trading Consultancy/Service Industrial Legal Entities ▸ ▸ Free Zone (FZC/FZE) Foreign Branch Local Branch Foreign Subsidiary Facilities ▸ ▸ ▸ Flexi-Desk/Office Standard & Executive Offices Shell & Core Office Warehouse Land ready for development 11
EASE AND SPEED IN REGISTERING A COMPANY Setting up a business in Ras Al Khaimah is quick and easy. RAK FTZ provides comprehensive packages to get your business up an running in the UAE. Everything you need to start operations within two weeks. Pre-Approval ▸ ▸ Convenient on-line application form Affordable packages starting from US$4000 Open for Business ▸ ▸ Assistance with visa process Access to RAK FTZ’s value added services Submit Documentation ▸ ▸ Application form List of trade names Project description Other relevant legal documents Receive Business License and Lease Deed ▸ Fast track service Process Payments ▸ ▸ ▸ Cash, 2 -3 days Cheque, 4 -6 days International transfer, 69 days FZC and FZE Requirements ▸ ▸ ▸ Certificate of Formation Bank letter Associated legal documents 12
SUCCESS STORY FROM FRANCE & BELGIUM PGS Group is a French and Belgian-based, global manufacturer of wooden pallets with a Middle East subsidiary in Ras Al Khaimah Free Trade Zone. ‣ Founded in France in March 1993 with a small workshop of 478 square yards. Now has six factories, 13 manufacturing sites and 28 pallet reconditioning sites, with an annual production of more than 25 million new and reconditioned pallets. ‣ In 2013, achieved a consolidated turnover of € 170 million. Now has nearly 1, 000 employees and more than 5, 500 customers. ‣ Announced that it was expanding to RAK Free Trade Zone in May 2014 after reviewing the free zone’s strategic geographical location, top-notch facilities, award-winning business set-up services and substantially lower set-up costs, allowing for maximum return on investment. ‣ Looking forward to reaching € 500 million in the next five years and further expanding its facilities in RAK FTZ. 13
THANK YOU FOR YOUR ATTENTION 14
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