RAS AL KHAIMAH (RAK OFFSHORE)
RAK is strategically located at the northern end of the Arabian Gulf coastline. It is part of the UAE which is amongst the most financial and politically stable countries in the world. It is 45 minutes drive from Dubai and shares mountain border with the Sultanate of Oman.
The RAK Investments Authority (RAKIA) was founded following the Emiri Decree No. 2/ 2005 issued by H.H Sheikh Saqr Bin Mohammed Al Qasimi, the Crown Prince and deputy ruler of Ras Al Khaimah. RAKIA was developed in order to enhance the industrial and business opportunities and comprehend a long-term strategy for the socioeconomic development of the emirates. Since its establishment more than 2000 offshore companies have been formed.
- 100% foreign ownership
- 100% of capital and profit repatriation
- Zero percent income, personal and corporate tax
- No financial reporting and audit
- No need for client’s presence.
- No requirement for local director and officers
- Νο disclosure of beneficial owner to Authorities. Only to registered agent.
RAK OFFSHORE COMPANY FORMATION
Once all documents are received at our office Incorporation can be completed within three working days.
Passport copy of beneficial owner
Bank reference letter
Proof of residence (utility bill)
Full set of company documents apostiled
Passport copy, bank reference, utility bill of director(s), shareholder(s), secretary (ies).
If any of the director(s), secretary (ies) or shareholder(s) is a corporate entity we need full set of documents of that entity and the same documents for the officers and shareholders.
RAK companies are exempt from all taxes on income and wealth.
The International Company must have at least one director. We provide nominee services.
There must be a secretary. The company director can serve as the secretary. We provide the secretary.
The company must have at least one shareholder. They may be individuals or corporate entities. No restriction on residence and nationality. We provide nominee services.
REGISTERED OFFICE AND REGISTERED AGENT
As registered agent shall provide a registered office address for the company which shall be the company’s address of record with the authorities and for correspondence.
Share capital may be in USD. No minimum capital requirement for International company. e.g. 1000 USD. Share capital must be paid up but there is no requirement to submit documentary proof of payment to the registrar.
An international company is required to pay the license fee before the relevant day of its incorporation to remain in good standing.