RAK Offshore Company Formation FAQs

1. What is the minimum capital requirement for a RAK offshore company?

Minimum capital is not required for incorporating an offshore company in RAK

2. Does the RAK offshore company need a corporate secretary?

Yes. One corporate secretary is mandatory. The director of the company can also be the secretary

3. What should be the registered address of the RAK Offshore Business?

RAK Offshore Company must maintain a local registered representative approved by the local authorities and a local registered office, which is usually given by the registered agent

4. How long it takes to start a RAK Offshore company?

With the help of BSW, it usually takes 1-2 working days

5. What is Governing corporate legislation?

The companies are regulated under RAK Offshore Regulations 2006.

6. Is there any residency requirement on shareholders or shareholders' meetings?

No.

7. Are corporate directors or corporate shareholders permitted?

Yes. Corporate entities are even permitted to hold shares in RAK Offshore companies.

8. Are there any residency requirements of directors?

The director can be a resident of any foreign citizen but is required to submit the proof of residence and other relevant documents.

9. What about confidentiality?

All information, documents are strictly kept confidential.

10. Is there any requirement/regulations governing the availability of names for the RAK Offshore companies?

RAK Offshore International Business Companies (IBC) must use the suffix Limited or Ltd. to denote Limited Liability.