Offshore company formation in Ras Al Khaimah provides a businessperson with total banking security and privacy. Its business-friendly policies have ensured a brisk increase in the country’s foreign direct investment. The Ras Al Khaimah Investment Authority (RAKIA) is the governing body, and the RAK Offshore Companies are regulated under RAK Offshore Regulations 2006. The businesses in RAK enjoy the following benefits –
- Business setup in Ras Al Khaimah is a gateway to international markets
- Companies are free to have multiple bank accounts in different currencies to carry out their global business operations
- RAK offshore formation guarantees the highest level of confidentiality and privacy
- No restrictions on residency limitation or citizenship
- The companies in the RAK offshore enjoy total tax exemption
- It allows repatriation of capital, profits, and international earnings
- Availability of global funding
Offshore Company RAK is Ideal for
Consultants
Traders
Custody of Real Estate
E-Commerce
Inheritance Purposes
Holding IP Rights
Characteristics of the Offshore Company in RAK
|
Company Type |
International Business Company (IBC) |
|---|---|
|
Confidentiality |
There are no company officers for registry hence no name is disclosed upon company formation |
|
Accounting requirements |
Not mandatory |
|
Corporate Taxation |
The companies in RAK is exempt from any form of taxation or withholding taxes in the UAE |
|
Ownership |
100% foreign ownership is allowed |
|
Minimum Directors and Shareholders |
Minimum one director/shareholder |
|
The requirement to appoint an auditor |
No |
|
The requirement to file accounts |
No |
Offshore Company Formation in RAK
Fill an Application Form
An application form must be filled with company information and personal details for RAK offshore company
Upload your Documents
Once the form is filled, submit the company documents according to the chosen business entity
Register the Company
For Ras Al Khaimah offshore company formation, pay the fees, get the documents approved and if everything is authentic, you will get the Certificate of Registration
Additional Services
Under this step additional services like nominee director, the corporate bank account is taken care of
Company Kit Dispatch
The final step is to receive the company kit which will include all the company documents
Documents Required for Ras Al Khaimah Offshore Company Setup
Certified copy of passport
Certified copy of utility bill or tenancy contract showing the address of current residence or bank statement dated within last three months
The CV of the shareholders
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.