Fortunum Investments Ltd.

Introduction

Ras Al Khaimah is the northernmost Emirate of the United Arab Emirates.  Ras Al Khaimah belongs to the the federation of seven Emirates that make up the United Arab Emirates.  The emirate of Ras Al Khaimah shares a border with Oman to the north and the east.  It faces the Arabian Gulf to the west and borders the emirate of Umm Al Quwain to the south.  Until a few years ago Ras Al Khaimah was a virtual unknown in the international business community.  Some of its more promient companies which had gained international recognition were companies such as RAK Ceramics and RAK Cement.  Besides these companies, Ras Al Khaimah had a steady regional reputation as an emirate heavily involved in the mining industry.

Business Climate in Ras Al Khaimah

Ras Al Khaimah has made several positive moves to attract businesses to its shores. The Ras Al Khaimah government has aggressively upgraded its infrasctructure to world class standards.  It has built modern sea ports, air ports, road networks, industrial parks, free trade zones, hospitals, schools, colleges etc., aimed at attracting the international investor.  It is significantly cheaper to incorporate a business in Ras Al Khaimah than anywhere else in the United Arab Emirates.  Though Ras Al Khaimah does not have the glitz or the flash of Dubai or the quiet sophistication of Abu Dhabi, the emirate is well on its way to catching up with its neighbours as a serious place to live and work.

Politics

Ras Al Khaimah is ruled by an Emir (more commonly called a Sheikh which is also his official title) Sheikh Saqr bin Muhammad Al-Qasimi.  As is customary in the United Arab Emirates, the crown prince appointed by the Sheikh is Sheikh Saud bin Saqr Al-Qasimi.  Ras Al Khaimah is an absolute monarchy ruled by Sheikh Saqr bin Muhammad Al-Qasimi.  Sheikh Saqr rules the emirate by issuing Royal Decrees which is the legislative process of publishing laws in the Emirate.  The Shiekh is usually advised by a council of ministers and advisors in various advisory and administrative roles that oversee the governing of the emirate.

History

Sometime around the early 18th Century, the Qawasim clan established itself in Ras Al Khaimah.  For many years Ras Al Khaimah made its living as a seafaring society.  Some of the more notorious elements in Ras Al Khaimah were involved in piracy which prompted British action against Ras Al Khaimah.  In the early 19th century the British attacked and occupied Ras Al Khaimah.  In 1822 Sheikh Sultan bin Saqr Al-Qasimi signed the General Maritime Treaty with Britain thereby accepting the protection of the British.  On 11th February 1972 Ras Al Khaimah became the seventh and last emirate to join the United Arab Emirates.