Offshore Company Formation in Ras Al Khaimah
Offshore Company Setup in RAK
Ras Al Khaimah (RAK) is one of the seven emirates in the United Arab Emirates. And a popular destination for offshore company formation due to its favorable business environment and low tax rates.
The RAK offshore is governed and regulated by the Ras Al Khaimah Investment Authority, RAKIA, and all applications and licenses are approved.
However, it is important to note that offshore companies in Ras Al Khaimah are not allowed to conduct business within the UAE (in other emirates). The company can only conduct business outside of the UAE (international).
Benefits of Setting Up in RAK Offshore:
RAK is a favorable business setup destination, chiefly due to its low-cost setup options and ease of doing business.
Here are some benefits:
- RAK has a credible and well-developed financial regulatory framework that includes strict compliance with International Standards.
- Well-established communication network and solid banking infrastructure.
- No restrictions on hiring labor, with easy access to highly qualified and trained professionals.
- A high degree of confidentiality.
- Tax-free environment without exchange controls.
- Low cost of incorporation and maintenance of an offshore RAK company.
Documentation:
- Completed business application form
- Passport copies of the shareholders and directors
- Passport-size pictures of the shareholders and directors
- Memorandum of Association
- Articles of Association
- Business plan
- Attested passport copy of the investor (in case they are absent). The copy must be certified by a lawyer
- Lawyer's certificate
Please note: The registrar can request additional documents during the registration process, not mentioned in this list.
Setup Process:
With Business Link, the company formation process is simple and easy to comprehend. Our expert assistance will ensure you have a smooth business setup in RAK.
Here is an overview of the steps to establish a company:
- First, finalize a company/trade name.
- Decide on the business activity you want to be involved in. This step is crucial as it keeps you informed on what other approvals you might need prior to setting up your company.
- Next, fill and submit your application form to the authorities to obtain an initial approval.
- Then, submit the drafted MoA and AoA.
- Upon the successful issuance of your offshore license, you can start with your business operations in RAK.
- Once the license is issued, you can open a bank account to manage your offshore company operations.
We provide various services for individuals and companies looking to set up an offshore company in RAK. These services include company registration, business licenses and visas, and assistance in opening a bank account.
Contact us to get started on your entrepreneurial journey in RAK!
