All About Ras al Khaimah Offshore Company Formation Dubai
Ras Al Khaimah is a part of the United Arab Emirates, a constitutional federation of seven emirates located along the southeast end of the Arabian Peninsula. Its infrastructure is of the largest level, with access to more than 170 shipping lines and approximately 86 airlines which connect to more than 100 cities worldwide. The RAK Investment Authority (RAKIA) launched the concept of the International Business Company in January 2007 and has since become one of the most popular offshore destinations.
Ras al Khaimah allows foreign ownership of an offshore company. For this reason, a UAE citizen is not required as a shareholder or sponsor. Offshore companies in Ras al Khaimah are exempt from all corporate and income taxes. The total repatriation of the profits and the capital of the offshore company is allowed.
The RAK Offshore commercial configuration is based on UAE law and is perfect for:
- Intellectual Property Management
- The custody of movable and immovable property.
- Inheritance Provisions
- International Trade
- Global source
The crucial advantage of the United Arab Emirates is the high reputation of an OECD country that is listed on the white list and the center of international investors, allowing the business owner easy access to highly capitalized international banks in Dubai, Hong Kong, Switzerland, Liechtenstein, Luxembourg, United States, United Kingdom or Andorra, operating in an economically and politically stable environment. To date, more than 12,000 International Business Companies (IBC) are registered in Ras al Khaimah.
Highlights of the configuration of the offshore company RAS AL KHAIMA:
- 100% foreign ownership is allowed
- Exempt from all corporate and income taxes
- No foreign currency restrictions.
- Total repatriation of earnings and allowable capital
- A local office is not required, there are no employees and related costs
- The RAK Offshore company can own real estate in the UAE and intellectual property.
- The RAK Offshore company can act as Holding
Why is an RAS AL KHAIMA offshore company formed?
Ras Al Khaimah is one of the most attractive offshore locations in the United Arab Emirates, since the establishment fees are significantly lower than Dubai or Fujairah, despite offering the same advantages and benefits of the United Arab Emirates, as a country with total exemption of all companies and income taxes. While Jebel Ali (Dubai) requires a minimum of two shareholders and its physical presence in Dubai is required to organize the formation, an RAK offshore company requires only one shareholder, who is not required to be there in person.
Advantages of the formation of the offshore company RAK
An offshore company in the UAE should not be confused with a free zone company in the UAE. An offshore company is a legal corporate body that is created and operates outside its registered authority. The main reasons why entrepreneurs are committed to the formation of offshore companies in RAK are:
- RAK is a gateway to the global market
- It has a stable and business-friendly legal system
- There is the availability of global financing.
- There is a provision of protection tools for assets like intellectual property
- RAK allows the retention of capital, profits, and international gains
- Offshore companies in RAK enjoy a total tax exemption
- The rules and regulations for an offshore RAK company are flexible
- Companies are free to hold shares in a free zone company, as well as an onshore company (LLC)
- Companies can have multiple bank accounts in different currencies to carry out their international business operations.
- The incorporation of an offshore RAK company requires only 1 director, shareholder and secretary (they can be the same person)
- There is no citizenship restriction or residence limitation.
- The highest level of privacy and confidentiality is guaranteed for an offshore RAK company
Business Link UAE is here to help you with the configuration, marketing and business administration in the UAE. Our qualified team can do business in the emirate, the free zone or offshore. We will provide professional consultations and perform all procedures so you can concentrate on your projects instead of running.
Our experienced and dedicated team guides you professionally to find your ideal offshore structures and benefit from the economic and fiscal advantages offered by the United Arab Emirates.
Business Link UAE is licensed by the RAK Investment Authority (RAKIA) to provide international corporate services. Therefore, it is regulated by the Government of Ras Al Khaimah. Our professional customer relationship managers take pride in providing a premium service and incorporating your business as quickly as possible.