The number of foreign companies registered with Ras Al Khaimah Offshore will more than double over the course of 2009, the organisation's general manager has claimed.
Speaking to Emirates Business, Peter-Michael Schuster announced that the group, which is a subsidiary of RAK Investment Authority, witnessed a six-fold jump in registrations between 2007 and 2008, with membership growing from 300 to 1,750 companies over the period.
And in the coming year, he expects that this figure will grow even further, with the total number of registrants forecast to hit 4,000 by the year-end.
Mr Schuster explained that the group is seeing a lot of interest from European companies.
"A lot of our clients are looking for alternatives - places which are not linked to Europe. And Ras Al Khaimah, like Europe, is a stable place, so people want to go here," he said.
Those who are planning on establishing a presence in the emirate may well also be interested in buying up property in Ras Al Khaimah.
RAK Offshore aims to provide an "unfair advantage" to entrepreneurial companies by providing access to a regional market of more than two billion people.