United Arab Emirates Ras Al Khaimah offshore company is registered with the Ras Al Khaimah (RAK) Authority. There are several reasons for business people from all around the globe to set up Ras Al Khaimah offshore companies and to invest in a business-friendly and politically stable country. More importantly, Ras Al Khaimah offshore company formation documents write up it as an International company and are not considered as an offshore company and you are still able to get benefits from a zero tax system.
Ras Al Khaimah (RAK) Company Setup is well-thought-out to be one of the best options available for investors to conduct business in all over the world while being set up in a financially safe and economically secure and stable environment of the United Arab Emirates. Ras Al Khaimah (RAK) offshore is the first of the entities in the whole of the Middle East region to provide the option of the registration of International Business Companies (IBC).
The authority offers investors and customers to complete confidentiality and safety and privacy. The United Arab Emirates is well-thought-out as being a politically stable place, where its economy is rapidly growing and progressing upwards. United Arab Emirates has Ras Al Khaimah (RAK) and it is one of the firmest rising and most stable and developed emirates of the country.
According to the law, the shareholder’s names and details of Ras Al Khaimah Offshore Companies are to be considered confidential and are never disclosed to the public or the authority. A minimum of one shareholder and one director are required to start up a RAK Offshore Company, which in case of an individual can be the same. Additionally, companies can be registered as RAK Offshore Company with the minimum capital.
To sum up, in the present United Arab Emirates have more than forty double Taxation Avoidance agreements (DTAAs) with countries from around the globe. Ras Al Khaimah (RAK) based offshore companies benefit impressively to investors as they are allowed to conduct business in diverse fields on an international level. RAK Offshore Companies may get involved in businesses like asset protection, trusts and/or funds, real estate holdings, inheritance planning, trading, and tax planning.
Why RAK Offshore Company?
Ras Al Khaimah is one of the seven emirates of the United Arab Emirates located along the southeastern strip of the Arabian Peninsula. Its infrastructure is state of the art with access to over 170 shipping lines and around 86 airlines which are connecting to over 100 cities from around the world. Ras Al Khaimah Investment Authority (RAKIA) launched the model of the International Business Company (IBC) in 2007 and it has since become one of the most popular offshore destinations in the business community around the world.
The vibrant benefit of the United Arab Emirates is the high standing of an OECD whitelisted country. It allows International investors and owners of the companies in offshore jurisdiction access to extremely capitalize international banks of Dubai, and other cities from around the globe, which are working in an economically stable atmosphere of UAE. More than 8000 IBC are registered with Ras al Khaimah, UAE as of today.
Ras Al Khaimah is a standout amongst the most attractive offshore places around the world, as the establishment fees are significantly lower than other emirates like Dubai or Fujairah, even though RAK is offering the same advantages and benefits of the United Arab Emirates to start up an offshore company, as a country where there are exemption options are available from corporate and income taxes. Some of the other offshore jurisdictions like Jebel Ali in Dubai require a minimum of two shareholders and also the presence of shareholders is required in Dubai to assemble the formation, a RAK offshore company requires only one shareholder and is also not required to be there in person in the company formation process.
Benefits of RAK Offshore Company
- RAK Offshore offers 100% foreign ownership
- It offers some exemption from corporate and income taxes
- RAK offshore has no foreign currency restrictions
- It allows full repatriation of profits and capital
- There are no requirements for having a local office
- There is a need to file accounts
- There is no employees and related costs
- RAK Offshore company can own interest in real estate in UAE
- RAK Offshore can have intellectual property
- RAK Offshore company can also act as a holding company
Following the documents may need by the authorities to register your offshore company in Ras Al Khaimah.
- Copy of the Passport
- Address of the residence of the owner
- United Arab Emirates Visa and stamp of Entry
- A Phone Number and Valid E-Mail address
- Personal Bank Reference that confirms you are the client of the bank.
- Utility bills like electricity, phone, etc.
- Short Curriculum Vitae (CV) which includes education, previous employment positions, and contact details
International Business Company (IBC)
IBC or International Business Company is a company which set up in the Free Economic Zone and conducts any kind of international business undertakings. RAK allows an IBC to open a UAE bank account. Therefore, investors who seek out to set up a company within a tax-free location as well as open a bank account should choose for an IBC. An IBC can be incorporated by individuals and sometimes by companies. The source of income of an IBC company must originate from another location other than the one it is registered to.
The following are business activities not allowed for an IBC in Ras Al Khaimah
- IBCs are not permitted to get visas
- IBCs are not permitted to conduct business in UAE
- IBCs cannot set up offices within the UAE
Why International Business Company (IBC)
Legal Protection: The United Arab Emirates is not thought of as a ‘tax haven’ and the Financial Action Force (FATF) has not blacklisted it therefore the people who are choosing to set up an IBC within the UAE are to be protected by the UAE legislation and can conduct business activity legally which will comply with international standards.
Confidentiality: Different offshore jurisdictions make contracts with tax authorities of different other countries, and the company’s owner name as well as the income are not confidential and must be disclosed upon request by authorities of that country. Indifference to that the directors and shareholders of IBCs are fully protected and are kept confidential and are not disclosed to the public or any other entity.
Multiple Activities: IBCs are allowed to engage in multiple business activities in UAE such as trading, professional services, shareholders, etc. However, the only two arenas IBCs are not allowed to involve in is the Insurance and Finance sector.
Dubai-Office Location: The International business company (IBC) may own a registered office with a location in the world’s famous business destination, Dubai.
Bank Account: IBCs are authorized to open bank accounts in UAE based banks. They can also open several bank accounts in different local banks of UAE. Finally, International Business Companies can also set up their bank accounts outside of the UAE.
Additional advantages of RAK offshore company
- UAE Bank Account
- Paid-Up Share Capital Not Required
- Rapid Incorporation
- No Restriction on Capital Expatriation
- No Restrictions & Additional Costs
- Bank Account in any country
- No Currency Control
- Full Confidentiality
- No Auditing
- No Citizenship Restrictions for Directors & Shareholders
We at MSZ corporate services provider will assist you in set up a Ras Al Khaimah offshore company. For inquiries in regards to the company set up in Ras Al Khaimah Offshore please contact: +971562181007 or drop us a mail at email@example.com