Ras Al Khaimah Offshore Company, also known as Ras Al Khaimah International Corporate Centre (RAK ICC), was established by the Ras Al Khaimah Investment Authority (RAKIA) to cater to the growing demands for offshore markets. RAK ICC provides an exceptional environment to offshore companies through its infrastructure projects and corporate policies. Real estate and property investment projects are especially popular as being registered as RAK offshore companies. There are over 1900 RAK offshore International Business Companies (IBCs).
Why A Business Needs RAK Offshore Company Formation
Ras Al Khaimah is a highly lucrative offshore place in the UAE, the setup fee being considerably lower compared to Dubai or Fujairah.
Why Set Up an RAK Offshore Company
An RAK offshore company implies total confidentiality over financial matters and no limit on wealth creation. It is a cost-effective option granting a company several benefits like exemption from taxes and duties, freedom of operation, and simple regulations. In addition, an RAK offshore company requires just one shareholder to get instituted.
How to Register a Company in RAK ICC
To set up an offshore company in RAK, the applicant must get in touch with an officially registered agent of the RAK ICC registry in charge of collecting and submitting the required incorporation documents to the Companies Registrar.
The documents required to register an offshore company in RAK are:
- Passport copies of the directors and shareholders
- Address proofs of the directors and shareholders [in case utility bills are given for the same, they shouldn’t be over 3 months old]
- CV of the shareholder stating educational and professional background
- Bank reference letter
It should take about 2-3 days for an RAK offshore company to get registered.
Advantages of RAK Offshore Company Formation
An RAK offshore company is an easy way of setting up an offshore company, and carries with it the following benefits:
- Provision of 100% foreign ownership
- No restriction on the repatriation of capital or profits
- No corporate or personal tax
- No need of attestations on company documents for use in the UAE, Bahrain, Oman, Qatar or Saudi Arabia
- No prerequisite of a minimum share capital
- No need of a local office to be present
- Simplified regulations and full confidentiality
Business Setup Worldwide helps small, medium and large enterprises concretize their business. For an RAK ICC, we can support you in company incorporation from start to end. Out team of experts works to ensure that your assets are safe and your company reaps the full benefits of capital repatriation and tax exemption. We not only provide strategic business inputs on company formation but also handle legal and documentation formalities. For any help or advice on business setup for an RAK offshore company, do contact us; we’d be glad to help you out.