Unlocking Opportunities: Ras Al Khaimah Offshore Company Formation Explained

Ras Al Khaimah Offshore Company Formation Explained

Ras-Al-Khaimah also known as RAK is an emirate of UAE and a popular offshore jurisdiction among entrepreneurs. They are attracted towards this jurisdiction due to the simplified company formation process and business-friendly environment. Many industries such as manufacturing, trading, tourism, quarrying, etc. thrive within RAK. 

In this blog, we will understand everything about RAK offshore registration.

Benefits of RAK Offshore Company Formation

Company formation in RAK is regulated by the Ras Al Khaimah International Corporation Center.  The various benefits that entrepreneurs like you can gain include - 

  • 100% foreign ownership.
  • Complete banking security and privacy to businesspersons
  • Physical presence of the owner is not mandatory during offshore company formation in RAK.
  • RAK offers various tax incentives. To understand them better, contact our business consultants.
  • The cost of incorporation is lesser in RAK when compared to other similar jurisdictions such as Ajman and JAFZA.

What are the Documents required for Ras Al Khaimah offshore Company Formation?

During offshore company registration in RAK, the entrepreneur has the option to choose between a single-shareholder company and a multiple-shareholder company. 

For a single-shareholder company, the following documents must be submitted:

  • Proof of residence
  • Notarised copy of your passport
  • CV of the shareholder of your company
  • A Bank statement detailing the transactions of your company over the last 6 months
  • A reference letter from the bank addressed to RAKICC (RAK International Corporate Centre)

For a Multiple shareholder company, the following documents need to be submitted

  • An Incumbency certificate of the company mentioning the names of the shareholders and directors.
  • An attested copy of the business licence or incorporation certificate of your company.
  • Passport copies of all the directors and shareholders
  • The company’s Certificate of Existence
  • Memorandum of Association 
  • Shareholder’s resolution 

Keeping these documents drafted and ready before initiating the process of RAK company formation will help speed up the incorporation procedure. 

Procedure of Company Formation in RAK

If all the documents mentioned above are duly drafted, offshore company registration in RAK becomes a simple process. The step-by-step procedure is listed below -

The first step for Ras Al Khaimah offshore company formation is choosing the activity that your business will be conducting.

The right choice of name will ensure success for your business. This also is important to create an identity for your brand.

Sign and submit the documents mentioned above to the RAK offshore regulatory body.

After submitting the documents you will incur a fee that must be paid to the regulatory body.

In order to conduct financial transactions and for payment of taxes, you need to open a corporate bank account. 

For RAK offshore company formation to be completed, you must satisfy one important requirement set by RAKICC. 

Follow these simple steps for a successful company incorporation in Ras Al Khaimah, you are assured of uninterrupted growth.

Why Choose BSW?

At Business Setup Worldwide, a team of competent professionals will assist you in navigating through the process of company registration in RAK. Contact us today, in order to get a better understanding . You are assured an answer to all your queries.

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