RAK Offshore

Ras Al Khaimah (RAK) Offshore

Ras Al Khaimah is one of the most attractive offshore places in the UAE, as the establishment fees are significantly lower than other offshore locations, despite offering the same advantages and benefits of the United Arab Emirates, as a country with full exemption from all corporate and income taxes.


Why Ras Al Khaimah (RAK) Offshore Fees & Packages

A few facts about Ras Al Khaimah Offshore

1
100% foreign ownership is allowed
2
Exempt from all corporate and income taxes, and no foreign currency restrictions
3
Full repatriation of profits and capital allowed
4
There is no local office required, no employees and related costs
5
Extremely Favorable Business Regulations.
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WHY CHOOSE RAS AL KHAIMAH OFFSHORE?

The Ras Al Khaimah is lauded as a leading industrial region, mainly due to being world’s largest ceramics producer.


There is not just one but many reasons that impel clients to consider Ras Al Khaimah for their offshore company. The emirate is one of the few places in the UAE that are best preferred for setting up an offshore entity. While other offshore areas may require shareholders and physical presence in Dubai to arrange the formation, a RAK offshore company requires only one shareholder, who is not required to be there in person.


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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