RAK free zone is an international business center for off shore setup. While, known as RAK offshore company or also a non resident company. Offshore company in RAK enable individual and as well as corporate to conduct substantial amount of business; and also outsource back office services. RAK off shore offers a self regulating Registrar of companies. Because, it helps to deal with the setup of all offshore company.
Advantages of RAK Offshore company formation
RAK Offshore company formation provides several key advantages. Some of them are:
- First of all in the first place, RAK off shore is 100% tax free. That is, there is no corporate tax, no income tax and no VAT.
- RAK off shore allow 100% owner ship. That is, expat are allows to get 100% ownership of the RAK off shore.
- No local sponsor requires to set up a RAK offshore company.
- To set up RAK off shore; we need at least one director, one share holder and as well as one secretary.
- Using RAK Offshore company you can own real free hold properties in UAE
- 100% capital and as well as profit repatriation. That is, RAK off shore can freely move its capital to any part of the world.
- No NOC is requires in case of employment in the UAE or other GCC states. To set up a RAK off shore.
- No Tax Information Exchange Agreement with any country.
- Discreet, that is, RAK Off shore authority does not share any information with any country.
- No physical presence required in UAE. There for, there is option to register remotely.
- Speedy registration. That is, in 2 working day once all documents are provided
- No annual audit is requiring to renew RAK offshore company formation.
- RAK off shore can hold IP like trade mark, patent, and as well as copy right.
- Finally, RAK offshore company allow to open a multi currency bank account.
Characteristic of RAK offshore company formation
RAK Offshore company formation has some unique characteristic; that is over other off shore jurisdiction, some of them are the following:
- A RAK offshore company; does not need to have an office in the UAE.
- It can not carry any activity in the UAE also can not get UAE Residency Visa.
- RAK Offshore company formation may have an expat as director as well as share holder.
- It may have local UAE resident as director as well as share holder.
- It allows corporate director also corporate share holder.
- RAK Offshore company incorporation doesn’t require the share holder; as well as a director to be present in the UAE.
- Offshore Company setup in RAK allow to keep up bank accounts; in the UAE as well as world wide.
- RAK Offshore Company does not allow do banking; as well as insurance business with out special license.
- Finally, Offshore company RAK allow to hold share in other UAE companies. That is, in a free trade zone and main land companies; and as well as in world wide companies.
RAK offshore company cost
|Offshore company package.||Fee in Dollar||Fee in AED|
|RAK Offshore company License fee.||1,090||4,000|
|RAK Register agent fee.||818||2,999|
|Bank account opening fee.||273||1,000|
|RAK offshore Renewal fee.||1,635||5,999|
RAK Offshore company registration
Only a well plan, well structure; and as well as transparent off shore jurisdiction can perform well. RAK off shore sets the graph very high in terms of local, federal and global compliance. That is, it keeping clients privacy at the supreme level.
RAK Offshore carry its valuable functions as well as services; and also offers a will manage administrations. People are wish to have a RAK Offshore company registration. Therefor, RAK Offshore authority try to adopt a stable but elastic legal approach.
All organizations must need to carry out suitable carefulness and “know your customer (KYC)” checks. That is, confirming that they validate their clients identity; and as well as the genuine source of their capitals. The RAK authority also guarantees total privacy of the investors. But RAK authorities will co-operate with law enforcement organizations and as well as regulators in the case of illegality.
Why RAK Offshore Company Formation?
The selection of a jurisdiction for an off shore is an important decision and needs cautious considerations. Global business community will not treat all tax havens jurisdiction in the same way. Therefore, RAK offshore company incorporation offer an exceptional choice for investors.
Ras Al Khaimah off shore (RAK off shore); has a well established specialized infrastructure; with financiers at the top decision making levels. The RAK off shore is one of the fast and quick off shore setup procedure; and controlling of ground breaking companies and projects. That is we can incorporate an offshore Company is 24 hours. Any non local person or corporate entity can incorporate an off shore.
Activities of RAK Offshore Company Setup
RAK Offshore company setup offers the choice to perform business in a distinctive way. RAK Offshore company setup is primarily for global business activities that consist of international business. So, RAK offshore company can perform his activity out side the country. Offshore company in RAK are allow to perform the following activity.
Activities allow for RAK off shore outside UAE
A RAKIC is allowing to perform the following activities outside UAE:
- General trading through RAK off shore is one of the key activity. Which i think is the top most reason to set up of RAK offshore.
- Hold share of the companies through RAK off shore.
- You can perform a professional business services through RAK off shore.
- International business services through RAK off shore.
- you can own property in free hold Area through RAK off shore.
- Business advisory and as well as business consulting services.
- Shipping and as well as ship management companies.
Activities allow for RAK off shore inside in UAE
A RAKIC is allowing to perform the following activities inside UAE:
- Hold assets through RAK off shore is one of the key activity. Which i think is the top most reason for set up of RAK offshore.
- RAK off shore can own property in free hold Area through RAK off shore.
- A RAK off shore offer to hold off shore bank account in UAE as well as globally.
- Also you can use RAK off shore to invoice to your global clients; but keep with this in mind that you can not invoice to your local clients; that is through your RAK off shore company.
Activities restricted for RAK Offshore Company setup
A RAK ICC is not allow to perform the following activities:
- RAK offshore company setup is not allow to do business with residents of UAE
- RAK Offshore company setup are also not allowing to do business relate to banking. That is, opening bank, insurance company etc.
- RAK offshore company setup are not allow to own an interest in a real property. Yet, it can own free hold properties.
NAME of a RAK offshore company formation
The name of the RAK offshore company registration may end with the word; that is, “Limited”. or with the word “Incorporated”.
Memorandum of RAK offshore company formation
The MOA of RAK offshore company formation will include the following things:-
- First off all in the first place; MOA consist the name of the RAK off shore.
- Keep this in mind; that MOA keep record of Office address of the RAK off shore. The name as well as the address of all members and the address of the agent of the RAK off shore.
- The currency which define the share of RAK offshore company.
- And also the total amount of share capital.
- At this point let me tell you one more thing; that is it also store the anture of the business for a RAK off shore.
Share holders for an offshore company in RAK
Till this time we explain a lot of thing about RAK off shore. Now it is time to say some thing about the share holder of the RAK off shore set up. A minimum of 1 share holder is require to setup RAK offshore company. A corporate entity is also, allow to act as a share holder in RAK off shore. Also share holder will decide the capital structure of the RAK off shore. And also note that RAK off shore shall keep the minutes of all proceedings at general meetings. The Register of Members shall be open for inspection by any member of the RAK offshore company. And keep this in mind that It is also an offence to refuse inspection.
Directors of an offshore company in RAK
A minimum of 1 director is requires; in order, to set up a RAK offshore company. A corporate entity is also allows to act as a director of offshore company in RAK. The details of directors are not available for public inspection. So, Board of directors will manage the business affairs of an offshore company in RAK. Another key point, a third party local director can also be use as a nominee director.
Register of directors for offshore company formation RAK
A register which keep the records of directors also know as register of directors. The register of director will keep the following records for directors.
- The names of the director as well as the addresses of the persons; who are directors of the RAK off shore company
- The date on which each person name is enter as a director.
- The appointment date of directors. That is, the date on which each director sign for the offshore company in RAK.
- The register of directors may be in such form as the directors approve; but if it is in magnetic, electronic or other data storage form; the company must be able to produce legible evidence of its contents.
- A list of appointed directors.
- A copy of the register of directors, will keep at the register office of the RAK off shore.