UAE free zones make this country incredibly attractive for foreign investors. Specialists consider Ras AL Khaimah free zone one of the most comfortable in the United Arab Emirates. The presence of an international airport, location at the crossroads of trade routes, developed infrastructure, all kinds of assistance from the government, and other factors contribute to the emirate’s development as an economic, financial, and tourist center of the Middle East.
You do not have to stay in the UAE permanently to join the business elite of the Emirates. Registration of a UAE offshore company will allow you to enjoy the tax, legislative, financial, and infrastructure benefits of this country while working where it is convenient for you. Next, we will talk about the advantages of registering a RAK offshore company.
Procedure for registering a UAE offshore company in RAK free zone
The first thing you need to take care of is an authorized capital of USD 5,000. It has to include 100 shares (one share equals USD 50). Both a legal entity and an individual can become a shareholder of a RAK offshore company, regardless of their residence. Payment of authorized capital is not required.
Registration of an offshore company in Ras Al Khaimah free zone with our expert assistance will cost from USD 3,600. The cost of the company’s annual renewal is from USD 2,625.
RAK offshore company costs
| Company registration (including the first year of maintenance): | From USD 3,600 |
| Company renewal | From USD 2,625 |
| Additional power of attorney with an apostille | USD 450 |
| Making amendments (including share transfer, change of director, etc.) | From USD 1,200 |
| Company closure | From USD 1,800 |
| Certification of company documents | From USD 200 |
After going through all the legal procedures, you will receive such a package of documents for your RAK offshore company:
- Certificate of Incorporation.
- Articles of Association.
- Minutes on the director’s appointment.
- Share Certificate.
- Register of directors and shareholders.
- Company’s stamp.
If you choose to use the services of a professional shareholder, you will also receive the following documents:
- Apostilled copies of Certificate of Incorporation, Articles of Association, Minutes on the director’s appointment, and Share Certificate.
- General power of attorney with an apostille.
- Professional services agreement.
- Deed of Trust.
The copies and the general power of attorney are certified by an apostille in Seychelles. The company’s stamp is issued only at the client’s request, so it is worth indicating this in the questionnaire. If you do not need the services of a professional director and shareholder, then you will receive only the originals of the first five documents and a stamp (if required).
The UAE offshore company’s legal address will be the registered agent’s address (in Dubai if you use the services of our agent). A RAK offshore company does not have the right to rent an office in the UAE.
When choosing a name for your company, keep a few things in mind:
- It should not repeat the name of a previously registered company.
- It must be in English.
- Your company name must end with the word Limited or LTD abbreviation.
Documents required to register an offshore company in Ras Al Khaimah free zone
To register a RAK offshore company, the directors and shareholders need to submit the following documents:
- Passport copy. It has to contain the page with the client’s signature. When signing all documents, ensure that the signature on the forms matches the signature on the passport.
- Utility bill with the actual address of a non-resident (preferably with an English translation).
- Letter of recommendation from a bank on official letterhead.
Both the director and the shareholder have to sign an application for company registration. In addition, the director signs the company’s shares, and the shareholder – the Articles of Association and resolution on company registration.
The beneficial owner provides the same documents as the director and the shareholders. Also, they need to certify with their signature the letters of commitment and the questionnaire.
The benefits of registering a UAE offshore company in RAK free zone are enormous. After a simple procedure, you will experience all the advantages of doing business in one of the best UAE free zones.
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on which jurisdiction is best for your business, preferred tax regime, company structure.
Is it profitable to register a RAK offshore company?
Tax optimization is one of the main tasks of company owners, especially in the context of the economic crisis. Establishing a company in the UAE is one of the ways to significantly increase your profit by reducing costs and, at the same time, become a client of a reliable bank with an impeccable reputation. Registering a RAK offshore company will make starting your business quick and easy.
Benefits of opening an offshore company in RAK free zone:
- No income tax.
- The most simplified procedure for registering a company.
- Stable national currency: the dirham has a strict peg to the dollar; therefore, it is protected from currency fluctuations.
- The highest level of confidentiality: information about the founders can be disclosed to third parties only by court decision.
- No requirements on submitting annual audit reports. However, you will have to keep accounting records.
- The founder and director can be both UAE residents and foreign citizens.
- There is no currency regulation and control over money flows.
- You can buy real estate for commercial purposes.
- Your company will have a good reputation, which not every global offshore zone can provide.
- The UAE government does not exchange information with the tax departments of other countries and is not afraid of their pressure.
- Availability of the highest-level international service.
- This zone is not on the FATF blacklist.
- There is an international airport in the capital of the emirate.
At the same time, the registration of a UAE offshore company has the following differences from the standard free zone company:
- You will not be able to register a company that works in insurance, aviation, banking, or media.
- Establishment of an offshore company in RAK free zone will not give you the right to cooperate with other companies registered in the UAE free zones or other economic divisions of the country.
- If you want to open an account in one of the UAE banks, you will have to fly to the Emirates in person.
- Registering an offshore company does not give you the right to obtain a UAE resident visa.
For all issues on offshore company registration in Ras Al Khaimah and other emirates, please contact us at info@offshore-pro.info.
