There are currently 7,500 companies from over 100 countries in Ras Al-Khaimah, where the main industries are tourism, oil, real estate, manufacturing, and high tech, as well as agriculture and fisheries, which is significant in providing foodstuffs to the rest of the UAE. The services and building materials industries are also on the rise.
The GDP of the emirate was 30.9 billion AED in 2013, and there is an average year-on-year GDP growth of 8%, while debt is much lower than that of Dubai.
There are a lot of jobs available in Ras Al-Khaimah in a wide variety of industries. Some of the most popular jobs include real estate consultants, office jobs like receptionists, secretaries, human resources, accountancy and administration, but there is also a big demand for engineers, hospitality staff, au pairs, university lecturers, as well as marketing, technology, and tourism experts.
The great thing about Ras Al-Khaimah is that it is a “no tax” emirate, meaning that there is zero corporate income tax, but also zero personal income tax for those working in Ras Al-Khaimah. Additionally, 100% foreign ownership is allowed, which means that it’s a good place to both do business and accumulate assets.
You don’t have to pay inheritance tax and offshore companies do not have to pay tax on profits. The government has also made it extremely attractive for people who seek to start new companies, and there is no restriction on the maximum number of shareholders you can have.