Ever since the UAE embarked on a path of diversification a few decades ago, the country has endeavoured to offer new businesses the most fertile ground to set up a presence in the region and strive for growth. This has led to an almost explosive increase in the number of new businesses being established in the country every year.
This is the result of business-friendly laws and policies of the government and the multiple free-zones around the nation that together provide enterprises easy means and provisions to set up any form of business and get it operational without hassle.
Ras Al Khaimah Free Trade Zone or RAK FTZ
The Ras Al Khaimah Free Trade Zone (RAK FTZ) is one such entity. Started in 2000 and just about an hour away from Dubai International Airport, it is one of the most successful free zones in the nation. RAK FTZ offers businesses state of the art facilities round-the-clock and easy licensing for many forms of commercial, industrial and service activities.
RAK FTZ is an equally welcoming ecosystem for both large conglomerates that have huge financial backing and small enterprises with limited investment capacity. The remarkable benefits like 100% ownership, efficient licensing and full repatriation of profits also prove helpful for small businesses to lower their overhead costs and ease their initial operational processes.
Below we explore a few low cost business ideasfor which Ras Al Khaimah Free Trade Zone could offer a highly fertile, profitable and supportive space.
As businesses continue to grow in the UAE, so do concerns about the safety of assets and infrastructure. This has opened up remarkable opportunities for businesses who specialize in providing private security services or alarms and surveillance systems. A security services agency with little investment and only a few employees can find great success in RAK FTZ.
2. Digital Marketing
As the internet becomes the most powerful advertising space on the planet, the need for businesses to dedicate a chunk of their marketing resources towards online outreach becomes imperative. A digital marketing agency can be easily set up with little asset requirements and with the support of a few talented individuals.
3. Arts and Crafts
The UAE’s location as the cultural and geographical point of contact between the East and the West makes it the perfect location to trade in artefacts and artworks from Europe, Asia and the Middle East. Small-scale craftsmen, artists and gallery owners can find remarkable success in a free zone like the RAK FTZ, drawing great engagement and interest from customers.
4. Recruitment Agency
The extraordinary employment opportunities in the UAE attract job seekers from all across the world. In such an environment, a licensed recruitment agency can prove to be a highly profitable venture, while offering remarkable return on investment.
5. Consulting Services
A consulting agency can prove to be one of the most profitable business forms to set up in the UAE. Growing businesses are always on the lookout for intellectual support and guidance. A small team of subject matter experts can provide consulting services out of an office with very little infrastructural requirements.
If you are a potential entrepreneur thinking about setting up a new business in the UAE and would like support through the legal and administrative processes and guidance on how to go about it without hassle, it would be wise to seek the help of a company formation agency.