RAK Offshore Company

UAE offshore Jurisdiction

We provide offshore services in Ras Al Khaimah, UAE because it is by far the most confidential and secure offshore location today. Ras Al Khaimah represents a unique opportunity in the offshore world today. It has a number of key advantages over other locations which, when combined, provide clients with the most confidential and secure offshore solution available anywhere.It has a state of the art banking sector to service its wealthy indigenous, expatriate and offshore clientele.

 

OFFSHORE COMPANY FORMATION IN RAK

 

  • Ras Al Khaimah (RAK) is one of the fastest growing emirates in one of the fastest growing economies in the world, the UAE.

  • The International Offshore Centre (known as "RAK Offshore") is a freezone regulated by the the RAK Investment Authority (RAKIA).

  • The freezone was established in 2006 offering the establishment of International Business Companies along the lines of the traditional offshore jurisdictions.

  • Incorporating as an IBC in RAK can be done much speedier than in the other UAE freezones and lacks the requirements that are typical in these freezones.

  • The freezone will be located physically in RAK Financial City which is currently under construction. A 40 minute drive north from Dubai international airport.

 

Registered Agent in Ras Al Khaimah:

 

  • Licensed by the Ras Al Khaimah Offshore Centre of the Ras al-Khaimah Investment Authority as a Registered Agent (Corporate Service Provider) to incorporate Ras Al Khaimah international business companies (IBC's).

  • Provision of directors, management, administration, bank signatories and accounting for RAK IBC's

  • Provides Dubai registered office address and Dubai postal address for RAK IBC's:

  • Dubai appeal, RAK flexibility

  • Provides telephone number answered in name of the company.

 

MAIN FEATURES OF RAS AL KHAIMAH IBC's

 

  • No local taxes

  • International business company: may only have customers outside the outside UAE

  • Business: all types except insurance, banking, financial institution, registered agent (unless licensed)

  • Quick incorporation (1-2 days)

  • Can benefit from tax treaty benefits under some of the 24 tax treaties it has concluded

  • Can open local bank account, invest in securities or funds tax free, obtain mortgage for investment in UAE property

  • Can own property in UAE freezones (after approval)

  • The RAK IBC may own property in Dubai and other emirates, regardless who its shareholder is.

  • Might be able to rent office space in RAK Financial City when available; and employment visas might be available

 

RAK IBC features

 

  • Corporate directors possible: yes

  • Minimum number of directors: 1

  • Secretary: optional

  • Common seal: required

  • Directors & Secretary: filed with Registrar of Companies

  • Redomiciliation: possible in and out

  • The registers kept by the Registrar of Companies are not available for public inspection

  • Name of company must end with "Ltd", "Corp", "Inc", "GmbH", "AG", "SPA", "SA", "OOO", or "OAO".

  • These words shall not be included in the name: "Bank", "Trust Company”" or "Trustee Company", "Assurance" or "Insurance", "Chamber of Commerce", "Municipal" or "Municipality", "Emirate" or "Emirates"

 

RAK IBC shares

 

  • Shares without par value: possible

  • Minimum authorised share capital: none

  • Minimum issued number of shares: 1

  • Share capital: any currency

  • Instruments of transfer to be filed with Registrar of Companies

  • Beneficial owners: RAK Offshore files passport copies

  • AGM required: no; shareholders representing more than 33% may call a general meeting

 

RAK IBC - accounts

 

  • Requirement to keep accounting records: yes

  • Annual accounts: P&L & B/S should be prepared (but do not have to be filed with the Registrar of Companies)

  • Audit required: no

 

UAE bank accounts

 

  • Efficient banking system: internet banking, credit cards etc

  • Security of a safe haven where banking can be conducted with privacy

  • No exchange controls

  • No withholding taxes

  • A broad range of investment & wealth management solutions: asset management, credit products, mutual funds

 

Time scale

Incorporation can be achieved in 3 to 4 days from receipt of funds.