RAK Offshore

RAK Offshore Company Formation

Ras Al Khaimah ranks amongst a UAE’s most desired Offshore locations due to its significantly lower incorporation fees and sound incentives for business owners. At IBG Consulting, our team of experts will help your business get the best facilities and benefits in RAK Offshore through premier packages with minimal turn-around time. RAK Offshore is part of RAKICC (RAK International Corporate Centre) which is owned by the government of Ras Al Khaimah and aims to be a premium offshore destination with strict regulations and due diligence criteria in place.

Why Ras Al Khaimah (RAK) Offshore Fees & Packages

A few facts about RAK Offshore Company

1
RAK Allows 100% foreign ownership
2
Corporate and income tax exemption
3
No foreign currency restrictions
4
100% repatriation of capital and profits
5
No need for Physical office space, employees and maintenance costs

WHY CHOOSE RAS AL KHAIMAH OFFSHORE?

As the fourth largest emirate in the UAE, RAK ranks among the fastest growing emirates in the world’s most progressive economy. Strategically located in the heart of the Middle East, RAK benefits from stable governance that has a history of encouraging business setup industry in the region. With minimum oil dependence, high frequency of economic diversification schemes and world class infrastructure, Ras Al Khaimah remains one of Middle East’s most rapidly expanding areas. Aside from business set up industry, RAK also leads industrial sector as the world’s largest ceramics producer. Unlike other offshore jurisdictions where physical presence of multiple shareholders is mandatory in Dubai, RAK offshore is exempt from such requirements where only one stakeholder is required regardless of being present physically.
The Advantages

Complete Foreign Ownership (without any sponsor or partner)

Ownership of Real Estate in UAE

The RAK Offshore company can own interest in real estate in the UAE and intellectual property

The RAK Offshore company can act as a Holding and doesnt need to file accounts

Offshore Company Can be Registered Remotely (without visiting UAE)

No Obligation to Submit any kind of Financial Statement

No Requirement of Physical office for Ras Al Khaimah Offshore Company

Offshore Company is not a Partner or Member of EU or OECD, hence assurance of no exchange of any information

1What is an offshore company?
An offshore company is an independent legal entity with limited liability and must have atleast one shareholder. The liability of the partners or shareholders is limited to their capital contribution.
2Is there a requirement for physical offices for an offshore company?
The company does not need to maintain a physical presence in the freezone but is required to have a registered agent, whose address must be listed as the registered address for the offshore company in the place of its incorporation.
3What is the activities permitted for an offshore company?
Offshore companies are generally used as investment vehicles or holding companies. They are not permitted to conduct business operations onshore in UAE or within the relevant freezone. However, they can freely conduct business outside the UAE and can also enter into contracts with legal consultants, lawyers, accountants and auditors. It is also permitted to lease property and use it as a registered office or own real property in limited areas such as Palm Islands or Jumeirah Island, or any property approved by the relevant freezone authority.
4What are the management requirements for an offshore company?
All the power of management for an offshore company generally rests with the board of directors and a general manager is typically not appointed. The board may choose to delegate certain powers as they see appropriate, under a power of attorney.
5What are the minimum capital requirements for an offshore company?
The capital requirements for an offshore company vary according to the jurisdiction it is based in, with a minimum capital requirement of atleast AED 10,000.

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