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The RAKIA Road Show is a great success


The RAKIA Road Show is a great success

At the beginning of February the Hungarian Bulgarian Chamber of Commerce organised a very successful RAKIA Road Show, introducing the Ras Al Khaimah Investment Authority (RAKIA), one of the free trade zones of the United Arab Emirates. 

The Road Show was organised in three capital cities, Budapest, Bucharest and Sofia, and was followed with great interest in each of the three cities. Local businessmen and chamber members alike were curious about the programme.

Within the framework of the Road Show participants received detailed information on the conditions, requirements and benefits of company registration in Ras Al Khaimah, together with an insight into the positive aspects of operating a company in the free trade zone.

This was followed by a presentation by Valartis Bank from Liechtenstien, in which the representative of the bank explained who should be interested in the opening of accounts and why, and introduced the products and services available to the bank’s customers.

László Váradi, managing director of the company LAVECO Ltd., provided participants with an informative look at strategies for the successful management of businesses  and bank accounts, and also summarised the latest developments in the enforcement of agreements for the automatic exchange of information. His presentation included information on where it is worth opening bank accounts, both in Europe and further afield, outlining the advantages, disadvantages and difficulties of each jurisdiction. He concluded with some concrete practical tips for successful offshore account management.

After the presentations there was the possibility for personal consultation and exchange of experiences, while tasting fine Bulgarian wines.

Feedback from participants confirmed that the RAKIA Road Show was a great success, with opinions unanimously agreeing that the useful advice and information received was indispensible in the current economic climate. The audience received an insight into possible future solutions, which may prove both useful and interesting for their companies in the long run. The majority of participants expressed their intention to attend similar events in the future, with economic topics, and in particular finance and banking, being of interest primarily.