Business
Consultants in Dubai

RAK Offshore

Ras al-Khaimah (RAK), is one of the most popular investment destinations in the United Arab Emirates for businesses and individuals worldwide due to its excellent connectivity, ease of doing business, hassle-free business setup, and tax benefits. RAK International Corporate Centre (RAK ICC), also known as RAK Offshore is the new offshore jurisdiction formed as per the Decree No.12 of 2015 and amended by Decree No.4 of 2016.

Ras al-Khaimah International Corporate Centre has been formed by consolidating two companies, RAK IC and RAK Offshore. RAK International Companies (RAK IC) was a part of RAK Free Trade Zone earlier and was registered by the RAK Free Trade Zone Authority. Whereas, RAK Offshore was a part of the RAK Investment Authority and was registered by RAKIA.

RAK ICC Offshore Company Setup – Key Characteristics

RAK ICC is responsible for the registration and incorporation of companies in RAK Offshore. It’s mandatory for each RAK ICC Offshore Company to have a licensed registered agent in RAK Offshore, and the team at Maven Business Consultancy can act as your registered agent in the RAK Offshore. Our team understands what it takes to setup a RAK ICC company and helps global investors with streamlined and hassle-free RAK offshore company formation. Here are few key things to know before you opt for Ras al-Khaimah company formation:

Shareholders

At least one shareholder is required for RAK offshore company formation.

Directors

At least one director is mandatory for RAK offshore company setup, who may or may not be the resident or national of UAE. Corporate directors are acceptable.

Business Activities

Investors can engage in any of the following business activities in RAK Offshore except Banking, Finance, Fund Management, Insurance, Investment Schemes, Trust Management, etc. Permissible activities include - Art Trading, Consulting, Holding Different Assets, Logistics, IT, Media, Contracting, Design, Engineering, Healthcare, Manufacturing, Production, Project Support, Research, Trading, etc.

Share Capital

Investors need to deposit a fully paid up share capital of AED1,000 (minimum requirement).

Time Required for Company Formation

Company incorporation in RAK takes approximately 2 to 3 working days, subject to the name approval.

Local Office Requirements

Each company must have a registered office in the RAK ICC Offshore, provided by a licensed service provider.

Documents Required

Following documents are required from shareholders, directors, & Secretary, for Ras al-Khaimah company formation (Shareholders, director, and the secretary can be the same person):

  • Desired offshore company name (3 options)
  • Information about the number of shares each shareholder holds
  • Notarized and attested board resolution, Power of attorney, MOA & AOA, and Certificate of Incorporation from the shareholding company
  • Original bank reference letter
  • Original latest Utility Bill
  • Original residence proof
  • Passport copies (should have a minimum of 3 month’s validity)
  • Resume or profile
  • The address, name, residency status, nationality, and occupation of each member
  • Valid UAE Visa or Entry Stamp page copy

Limitations

An RAK ICC offshore company cannot:

  • Attain Tax Residence Certificate (TRC) in the UAE
  • Conduct Business within UAE
  • Issue UAE residence visa
  • Rent physical office space in the UAE

Confidentiality

The details of shareholders, directors, assets, etc. remain confidential and is not disclosed to the public.

Advantages of RAK ICC Offshore Company Formation

Here are some reasons why global investors opt to setup business in RAK Offshore:

  • 0% corporate and personal tax
  • 100% foreign ownership is allowed without any requirement to have a local partner
  • Asset protection, copyright and trademark ownership
  • Business-friendly regulations
  • Can be registered by one Shareholder and Director
  • Conduct business anywhere outside UAE
  • Flexibility to open multicurrency bank account in the UAE
  • Full foreign ownership is permitted
  • Low-cost setup
  • No import/export duties
  • No restrictions on remittance of profits and capital
  • Own real estate properties in UAE and other countries (subject to the approval)
  • Own shares in local company, free zones company, and companies abroad
  • Re-domiciliation possibility

Contact Maven for RAK Offshore Company Setup, Registration, & Incorporation

Ras al-Khaimah company formation is very easy and cost-effective, if you contact an officially registered RAK ICC agent like Maven Business Consultancy. We take entire responsibility of handling legal and document formalities and timely submit all the incorporation documents to the Companies Registrar. We being the registered agent take care of all the incorporation formalities and Offshore Company Registration in RAK ICC without mandating the physical presence of the applicant.

Our reliable RAK ICC authorized agents perform the following activities:

  • Get an official quote for the scope of work - attestation requirement, nominee services, registration, opening bank accounts
  • Submit three names for company formation to the authorities
  • Decide upon your business activities – acting as a holding company, consultancy, property investment, or trade
  • Determining the share capital
  • Finalizing the list of shareholders
  • Submitting mandatory documents

For more information about company formation, registration, and incorporation in RAK Offshore or any other UAE Offshore contact us at 00971 55 679 1998 or email us at info@mavenconsults.com

Get a Free Quote

*All Fields are Mandatory

Customer Speak

"At the outset, Maven BC presented us with a fully detailed costs and logistics plan. It was all in place, and we were able to prioritize things and decide the path to take based on their plan. That very first step impressed us a lot. Keep it up, Maven Business Consultancy ."
- Beanch

At Maven business consultancy, we are readily available 24/7 to answer all your queries regarding the establishment of a new business in UAE. Our experienced and knowledgeable staff would be happy to help with all your business requirements, while ensuring your correspondence remains totally confidential.

Contact Us

or Call +971 55 679 1998

Call Now request Now