RAK OFFSHORE COMPANY SETUP 

The introduction of the RAK Offshore Company in the Ras Al Khaimah International Corporate Centre (RAK ICC) has opened new avenues for international businesses. This merger, formed in 2016, brings together the best of RAK Offshore and RAK IC companies, offering a robust platform for international business ventures.

Setting up a RAK Offshore Company involves minimal changes, retaining the key advantages of an offshore company in the UAE. Here are some notable points about RAK Offshore Company setup, with a focus on RAK offshore company setup cost and RAK offshore company formation:

• Double Tax Treaties: UAE has signed double tax treaties with over 47 countries, allowing RAK Offshore companies to maximize benefits from these agreements.

• Ownership and Investments: RAK Offshore companies can hold shares in onshore Dubai companies (such as Dubai LLC) and other legal entities globally. They can also own real estate properties, including freehold properties, in the UAE.

• Banking Facilities: RAK Offshore companies can maintain bank accounts in Dubai, UAE, facilitating day-to-day operational transactions and business-related activities.

With the merger of RAK ICC, international businesses can tap into these advantages while benefiting from the cost-effective and streamlined process of RAK offshore company setup.

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Advantages of RAK Offshore Company Formation

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Setting up a RAK Offshore Company comes with numerous advantages, making it an attractive choice for international businesses. Here are some key benefits of RAK Offshore Company Formation:

• RAK Offshore company setup will give full foreign ownership

• Corporate income taxation is at 0%

• In RAK Offshore there can be only one director – who can be non-resident

• No accounting necessities for offshore company in RAK

• RAK Offshore Company can be registered by one shareholder

• In RAK Offshore company shareholder and director can be the same person

• There are no limitations on shareholder and director residencies

• It is very easy to renew RAK ICC Company

• RAK offshore will issue all registration documents in English language

• In RAK offshore company setup you will not require to submit any audit report

• RAK offshore company formation is a white listed Offshore Jurisdiction that is fully compliant with international regulations

• RAK offshore company can hold intellectual property like trademarks, patents and copyright

 

Documents Required for Individual Shareholder (s)

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• Valid Passport Copy with UAE entry stamp page for each Shareholders / Director

• Three Proposed Company Names of the company

• Personal & Business Profile of each shareholder(s). (CV)

• Original – Proof of Physical address of the shareholders. (telephone /utility bill/ electricity  etc.)

• Original Bank Good standing Letter (Bank Reference Letter ) for the Shareholder(s) – the related account should have been sustained for more than two years

 

Documents Required for Corporate Shareholder

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For Corporate Shareholder, following are the required documents:

• Certificate of incorporation*

• Memorandum & Articles of Association*

• Board resolution and power of attorney*

• Certificate of good standing or incumbency Letter *

• CV/Profile of directors/secretary

• Utility bills of corporate shareholder & directors as proof of address

• Bank reference of the corporate shareholder

Documents marked * will need to be must be notarized from home country.

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Other requirements

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• A RAK offshore company is not allowed to carry out business with UAE residents, or conduct any trade in RAK Free Trade Zone and the UAE without obtaining suitable license from concern authorities

• All photocopies of documents must be attested

• RAK offshore license will be valid for limited time period (one year). After expiration of that time, renewal of license is required

• There are several other requirements also in various departments for approval of offshore company in RAK ICC