How To Register A Company

How To Register A Company | Why A Good Agent Will Help You Gain

How to register a company: RAKFTZ, RAKIA and JAFZA offshore, Seychelles, Mauritius, BVI, about registration agents

How to register a company: An offshore company is a legal entity created according to the Company Laws prevailing in the jurisdiction in which the entity is being incorporated.

How to register a company: United Arab Emirates (UAE) offshore

In the offshore jurisdictions of many countries individual states or provinces or Emirates [as in the case of United Arab Emirates], have the power to promulgate laws governing the formation of offshore companies.

Ras Al Khaimah (RAK), United Arab Emirates has 2 jurisdictions. Ras Al Khaimah Free Trade Zone (RAKFTZ) and Ras Al Khaimah Investment Authority (RAKIA). Each jurisdiction has slightly differing laws for offshore incorporation.

Dubai, United Arab Emirates has the Jebel Ali Free Zone Authority (JAFZA) as the offshore domicile. JAFZA offshore companies are more tedious and expensive to incorporate. However, they are the only offshore companies via which you can own properties in Dubai.

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How to register a company: Other offshore jurisdictions

Seychelles, Mauritius, British Virgin Islands (BVI) and the Cayman Islands remain popular countries for offshore company incorporation from this region.

They offer a wider variety of options but the attestation of company documents makes them expensive and time-consuming.

How to register a company: Memorandum and Articles of Association

1. Articles of Incorporation are not standard across jurisdictions. For example, RAKIA offshore provides a template which allows no deviation. Whereas in RAKFTZ offshore companies you can decide which country’s courts will deal with disputes.

Seychelles, Mauritius, BVI and the Cayman Islands all offer greater flexibility in the Articles of Incorporation.

These Articles of Incorporation or Memorandum of Association (MOA) are filed with the jurisdiction authorities by a registered agent.

2. The Memorandum of Association (Articles of Incorporation) is a legal document that establishes the structure and purpose of a corporation and is the basic document for incorporating your offshore company.

They also set the scope of the business and the activities the business will undertake. These documents spell out details of how the business will conduct its internal affairs.

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How to register a company: Offshore registration agent

1. Once your registration agent submits your incorporation application and the company is formed you will receive a Certificate of Incorporation.

The offshore incorporation of your company is a legal process involving various stages, legal requirements are to be complied with and documents are needed to be filed.

2. Each offshore domicile has a set of registered agents who have been approved by that jurisdiction. In most cases, they have undergone intensive scrutiny and are the first point of contact for the jurisdiction authorities.

These registered agents are expected to know the offshore domicile’s rules and regulations so that they can steer you accordingly. They are also liable for fines if they violate these rules.

3. Registration agents are professionally trained and authorized to provide offshore incorporation information, advice, and services. They can guide you as to which type of company suits your needs and in many cases, he or she can help you with the best offshore jurisdiction to fulfill your objectives.

They can help you complete all relevant documentation. And are required to file it with the appropriate regulatory agency on your behalf for a fee.

4. Offshore jurisdictions oblige you to incorporate your offshore business only through one of their registered agents.

You cannot incorporate directly.

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How to register a company: How to find a registration agent

1. The Internet is the quickest way to find an agent. Alternatively, you could also ask a friend for a recommendation.

2. However, you may want to correspond with 4 or 5 before you choose one. It is important to go with someone who you resonate with as you may need the agent even after the incorporation. Test and see who’s responses are more open and who is willing to answer your questions.

3. Agents will differ in fees by a few hundred dollars. However, if you don’t receive the proper advice you may end up having to incorporate more than once to meet your objective.

Sometimes it may be more convenient for you to choose an agent in the city you are in. Especially if you would like to have a face to face meeting.

4. Make sure you know the agent’s total fees before you start the process.

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How To Register A Company was last modified: July 7th, 2022 by Manu Raj

Manu Raj

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