Company Formation Ras Al Khaimah offshore
GBS offers consultancy on various business practices and provides custom-made guidance on company formation in RAK offshore. We have a team of qualified and experienced professionals to cater to your administrative and legal requirements.
In 2006, Ras Al Khaimah Investment Authority launched an offshore facility, by passing of Ras Al Khaimah Investment Authority’s International Business Companies Regulations 2006 – also called RAK Offshore.
RAK Offshore allows any non-resident individual to open a company in RAK as an offshore entity.
- 100% foreign ownership
- 100% tax exemption
- The investor need not be physically present to form the company
- Transparent laws and regulations
- Simple and fast application procedures
- May own shares in other companies in UAE or elsewhere
- Can maintain bank accounts in UAE
- No requirement to hold regular meetings of directors and shareholders
- Does not need to get accounts audited
- No public disclosure of information
- Able to conduct business in the UAE through subsidiaries
- The minimum number of share holder and director is one
- A registered agent approved by the authority must be appointed by the registered company in the RAK offshore
- The company must have a secretary
- Company cannot rent local premises
- Company cannot engage in the business of banking ,Insurance, reinsurance and fund management
- Company cannot engage in business with UAE based entities / companies except it is permitted to invest in UAE properties & other assets
- Any other activities, which may by regulations made by the Authority is prohibited
Cost of company incorporation in a RAK offshore company is comparatively lower than that in Dubai.
To form an IBC we need the following information:
- Name of the company
- Name of the director
- Name of the share holder
- Preparation of all the documents
- Procuring RAK Offshore registration
- Provision of registered office
- Provision of local agent
Generally permitted in AED