Ras Al Khaimah is one of the seven emirates in the United Arab Emirates (UAE) and is well known for its offshore companies. An offshore company is a legal business entity that intends to operate outside its registered jurisdiction. There are numerous benefits of offshore company formation in RAK.
Benefits of RAK Offshore Company Setup
When you choose RAK offshore company setup, your business can take advantage of the following benefits.
- Access to the international market
- 100% foreign ownership
- Stable and business-friendly legal system
- Protection of Assets (intellectual property)
- Complete tax exemption
- Flexible offshore company setup rules and regulations
- Requirement of only one director and shareholder
- Can act as a holding company
- Extreme privacy and confidentiality are available for RAK companies
- Easy renewal of RAK ICC company
- No accounting necessities
Steps to Start RAK Offshore Company Setup
The following are the basic procedures for RAK offshore company registration.
Seek Assistance from an Offshore Business Consultant
Forming an offshore company can be quite burdensome and complicated if not done with proper guidance. Moreover, during consultation, you can also ask about the right type of RAK ICC company suitable for your business venture.
Approval of the Proposed Business Activity
After seeking assistance, you should decide on the business activity you want to carry out.
Select the Business Name
Once you have chosen the business activity, select a business name and get approval. Also, you must ensure that the proposed name is not already in use.
Submit the Respective Documents
After that, submit the following documents to proceed with the RAK offshore company formation.
- Three proposed names for the company
- Valid passport with UAE entry stamp for each shareholder/director
- A valid personal and business profile of the shareholders
- Memorandum of Association (attested)
- Shareholder's resolution (attested)
- Bank Good standing letter (Reference letter from bank) for the shareholders
- Proof of physical address of all the directors and shareholders
- Certificate of Good Standing, also known as Certificate of Existence of the company
- Incumbency certificate of the company (mentioning the names of the shareholders and directors)
- Board resolution and power of attorney
Wait for the Business Approval
After submitting the above-mentioned documents, wait for approval from the concerned authority.
Open a Bank Account
After incorporating your company, opening an offshore bank account is essential. This allows you to easily carry out your business transactions.
You also have the option to start an online business in RAK. Read: RAK Offshore Company for Online Business
RAK Offshore Company Setup Cost
When deciding to form an RAK offshore company, pricing seems equally important. The RAK offshore company setup cost varies depending on your business requirements. If you wish to proceed with the offshore company formation in RAK, seek the assistance of offshore business setup consultants such as Business Setup Worldwide.
Business Setup Worldwide provides the best-customised business solutions for your RAK offshore company registration. If you decide to proceed with the same, contact us, and we will guide you through the entire process.
