An offshore company is also known as International Business Company (IBC) or a Non-Resident Company. Offshore company may be referred to as a company that is setup in a territory that is outside its own jurisdiction. The process to have an offshore company in UAE is simple. You need to approach an agent who will take care of the company formation stages. UAE has four offshore (IBC) jurisdictions, they are Ajman Offshore, JAFZA (Jabel Ali Free Zone Offshore), RAK FTZ (Ras al Kahimah Free Trade Zone Offshore) & RAKIA (Ras al Khaimah Investment Authority).
RAK Offshore Company Formation
RAK business setup authorities offer business owners complete confidentiality and safety. UAE is considered as being a politically stable jurisdiction, where its economy is rapidly developing and progressing. It is also home to RAK, one of the fastest growing, most stable and developed emirates.
RAK based offshore companies benefit greatly as they are allowed to carry out international business for diverse fields. RAK offshore companies may get involved is asset protection, real estate holding, trusts, funds, inheritance planning, trading and tax planning. As per the emirate’s law, shareholders’ names and details of their RAK offshore companies are confidential and are never disclosed. One shareholder and one director are required to set up a RAK offshore company, which can also be the same individual.
Furthermore, companies need minimum capital to register as RAK offshore company.
RAK Offshore companies offer 100% foreign ownership, 0% personal and corporate taxation, no filing requirements and also full consumption of profits and capital. RAK Offshore companies can maintain bank accounts in Dubai and own real estate assets and intellectual property in UAE.
RAK Offshore companies are used for a variety of business purposes like operating a bank account in Dubai for international business, owning overseas financial and real estate assets, and tax optimization. However RAK offshore companies are not allowed to carry out activities in the UAE.
Corporate Bank Account
Business owners can enjoy international standard services, like online banking facilities, via the UAE banks.
There are no capital requirements for RAK offshore companies. However our experts will assist you in choosing the best options suitable for your business.
Your consultant will be able to guide you regarding the timeline and all the required documents. It is highly recommended that you contact an approved and registered Agent by the RAK FTZ Authorities for the incorporation of Offshore RAK international company.
Overview of RAK
Ras Al Khaimah (RAK) is one of the seven emirates of the United Arab Emirates and can be found about 100 km north-east from Dubai in the southern part of the Persian Gulf. It was earlier known for ship-building and commercial activities in the maritime sector. Now it is more known for its industrial sector. Therefore many business owners prefer having industrial activities in this emirate due to its available infrastructure.
RAK is the largest producer of cement in the UAE and the world’s largest producer in ceramics. A lot of interest has gone towards the financial and investment sector in RAK due to new legislation and regulations adopted by the authorities; this in turn has led to interesting business and investment opportunities for individuals and companies worldwide.
An International Business Company in RAK can conduct business internationally, own real estate in the UAE, be used as a trading vehicle, maintain bank accounts and much more. Company registration in RAK takes about 48 hours to be completed.