RAK Offshore:
Secure & Tax-Free
Business Setup.
RAK Offshore
Company Formation refers to establishing a business in Ras Al Khaimah International
Corporate Centre (RAK ICC), one of the UAE's leading offshore jurisdictions. It allows
foreign investors to set up companies with full ownership and benefits like tax
exemptions, confidentiality, and asset protection. RAK Offshore is ideal for businesses
seeking a cost-effective and secure platform for international operations. These
companies can hold assets, conduct international trade, and benefit from a flexible
regulatory environment. However, they are not permitted to operate directly within the
UAE market.
Steps to RAK Offshore
Company Formation
- Choose a Business Activity:
Select a business activity that complies with RAK ICC
regulations (e.g., holding companies, trading, consultancy).
- Appoint a Registered Agent:
Engage an approved registered agent who will guide you
through the formation process and handle legal requirements.
- Select a Company Name:
Choose a unique name that meets RAK ICC naming
guidelines and get it approved.
- Prepare Required Documents:
• Passport copies of shareholders and directors.
•Proof of address (utility bills, etc.)
• Business profile or CV of directors.
• Memorandum and Articles of Association.
• Application form provided by the registered agent.
- Submit Application and Documents:
Submit all required documents to the registered agent
for processing and submission to RAK ICC.
- Pay Fees:
Pay the necessary registration, license, and agent fees
for the company formation.
- Receive Incorporation Certificate:
Get the official registration and company documents.
- Open a Bank Account:
Set up a corporate bank account to facilitate business
operations.
- Renew Annually:
Ensure compliance and renew the offshore company each
year.
Advantages of
RAK
Offshore Company Formation
- Tax Exemptions:
No corporate, income, or capital gains taxes
on
offshore companies.
- Full Ownership:
100% foreign ownership without the need for a
local sponsor.
- Confidentiality:
Shareholder and director details are not
publicly
disclosed.
- Asset Protection:
Safeguard assets from political and economic
risks.
- Global Market Access:
Facilitates international trade and business
expansion.
- Cost-Effective:
Lower setup and operational costs compared to
onshore entities.
- Flexible Structure:
Can be used for holding assets, intellectual
property, or international trading.
- No Currency
Restrictions:
Freedom to operate in multiple currencies.
- Easy Setup:
Quick and straightforward registration process
Are you ready to grow your business?
