Ras Al Khaimah is a leading international company formation and corporate service provider in the United Arab Emirates, UAE. Established in 2001 RAK specialises in providing corporate services including offshore company formation and administration services.
To date, there are 12.000 International Business Companies registered in RAK. Several factors help businesses to like a supportive political system, robust infrastructure, and business-friendly environment, accompanying efficient offshore business activities. RAK offshore operates under Ras Al Khaimah International Corporate Centre – the body responsible for overseeing and regulating the offshore areas in the Emirate. This foundation provides businesses with flexibility, confidentiality, and asset protection, while also facilitating business operations around the globe.
Ras Al Khaimah has several free trade zones, including the Ras Al Khaimah Economic Zone (RAKEZ) and the Ras Al Khaimah Free Trade Zone (RAKFTZ). These zones offer businesses attractive benefits such as 100% foreign ownership, tax exemptions, and streamlined procedures for company setup. These benefits have attracted numerous companies across industries, including manufacturing, logistics, and services.
The strategic location of Ras Al Khaimah is like a gateway to the northern emirates of the UAE, including Sharjah, Ajman, Umm Al Quwain, and Fujairah. This strategic location allows businesses to access a larger consumer base and benefit from the economic activities in the region.
Benefits of An Offshore Business setup in RAK
- 0% corporate and personal income taxes
- Less paperwork as compared to other Emirates.
- No Currency Restrictions
- Access to global markets
- No Audit Requirement
- No Foreign Exchange Controls
How To Setup An Offshore Company in Ras Al Khaimah?
While the process of establishing an offshore company in Ras Al Khaimah (RAK) might seem intricate, with proper guidance and support it can be efficiently navigated to ensure a smooth setup.
- Choose a Registered Agent who is licensed to provide offshore company set-up services in Ras Al Khaimah
- Decide what type of business structure can suit your work well. RAK typically involves establishments like:
- International Business Company (IBC)
- Limited Liability Company (LLC) Trusts
- Special Purpose Vehicle (SPV)
- Branch Office
- Make sure to have all the required documents for the registration of your company.
- Work with your registered agent to prepare and submit the application for company registration to the RAK ICC. Pay the applicable registration and licence fees as required.
- Once the application is submitted, the RAK ICC will review the documents and information provided. If everything is in order, they will issue the Certificate of Incorporation and other relevant documents.
Note – It’s important to note that offshore company set-up regulations may change, so it’s imperative to seek professional advice from legal and financial experts familiar with the process in Ras Al Khaimah.
Required Documents For Company Setup in RAK Offshore
Document requirements in Ras Al Khaimah differ based on the number of shareholders of the company.
Documents Required for Single Shareholders
- Copies of your passport
- Residency Proof
- Curriculum Vitae of the Shareholder
- Bank Reference Letter
- Bank Statement for the Last 6 months
Documents required for Multiple Shareholders
- Photocopy of Business License
- Memorandum of Association
- Shareholders resolution
- Passport copies of shareholders
- Certificate of good standing
- Incumbency certificate of the company
- Other relevant Documents
Start Your RAK Offshore Company Set Up With AIMS UAE
AIMS UAE offers a comprehensive suite of services tailored to facilitate the setup of an offshore company in Ras Al Khaimah. With a focus on efficiency and precision, AIMS adeptly manages all paperwork and documentation required for company formation. This eliminates the burden on entrepreneurs and investors while ensuring compliance with regulatory systems. Moreover, the consultancy services provided by AIMS extend beyond mere paperwork, offering strategic guidance for sustainable growth and expansion. Whether it’s navigating the intricacies of licensing requirements or understanding the nuances of local regulations, AIMS equips businesses with the knowledge and resources necessary to thrive in the competitive landscape of Ras Al Khaimah. Having AIMS UAE as your partner in offshore company formation can make your business idea thrive in the dynamic market of Ras Al Khaimah.
Frequently Asked Question
Offshore companies in RAK are generally not allowed to conduct business within the UAE. They cannot engage in activities requiring local licensing. However, they can engage in international trade or consulting services.
AIMS UAE is the right choice for consulting on setting up an offshore company in Ras Al Khaimah. They provide comprehensive services and expertise in navigating the setup process of an offshore company formation in the UAE.
Offshore companies in RAK are typically exempt from corporate and income taxes within the UAE. However, the tax regulation of the country where the shareholders of the company live may apply.
Contact Us Now For A Smooth Business Set-Up Procedure.
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