RAK Offshore

RAK Offshore | 23 Key Facts To Make Your Choice Easy

RAK offshore: 5 important RAK jurisdiction notable points, 11 attractive RAK offshore company features and 7 ways to use

RAK offshore companies are registered in the offshore jurisdiction of the Ras Al Khaimah Investment Authority (RAKIA), United Arab Emirates (UAE). RAK offshore incorporation is the most useful if you need the company for Middle East investments.

RAK offshore: 5 Key pieces of information

1. Company formation costs include Registration, Registered office, Memorandum and Articles of Association, Certificate of Incorporation, Share Certificates and Bank account in a Dubai branch.

2. Documents required for incorporation are authenticated passport copies of all directors and shareholders, an original bank statement or utility bills with the street address, and an original bank reference letter stating that your account is in ‘Good Standing’.

3. Company formation takes 2 working days once your Know Your Client (KYC) documents are complete. The company bank account opening takes 14 – 21 days after that.

4. Your presence will be required in Dubai for this process.

5. Ras Al Khaimah [RAK] and Jebel Ali Offshore are the only offshore jurisdictions in the Middle East.

RAK Offshore | 23 Key Facts To Make Your Choice Easy

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RAK offshore: 11 Company features

1. The minimum capital of the company can be as low as US$ 1

2. The minimum number of shareholders and directors is one

3. No bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in the bank

4. 100% foreign ownership permitted and 100% tax and duty exemption

5. Opening a corporate bank account in a bank at Dubai, United Arab Emirates is permitted

6. Company registration can be done only via a RAK offshore registered agent

7. The investors need not visit the authority to incorporate the company, however, the documents need to be signed in the RAK offshore registered agent’s office

8. Audited accounts will be requested only in the case of suspicious activities

9. No company document attestation required within the Gulf Cooperation Council Countries

10. RAK offshore is not a signatory to any information exchange as of December 2010

11. The important feature is that its company documents do not need any attestations for use in the UAE, Saudi Arabia, Qatar, Oman, and Bahrain!

RAK offshore: 7 Ways these companies have been used

1. Online Stock traders: The owner is the RAK offshore company, not the individual, so profits can be kept offshore

2. Importers & Exporters: Can use these companies for invoicing or purchasing

3. Consultants: Can sign contracts via the RAK offshore company and can become its employee

4. Expatriates: Can save their earnings via offshore, and build capital to invest in homes, businesses or the financial markets via the RAK offshore companies

5. Insurance beneficiaries: RAK offshore companies can be the beneficiaries of the policy. Individuals become company shareholders.

6. Internet marketers: Receive web payments into the offshore bank account of the RAK offshore company

7. Business owners: Own their businesses via RAK offshore companies to ensure succession and tax planning.

For an additional fee, your offshore company registration agent will help you to open a bank account for your company in Dubai. They may also be able to provide you with the nominee and other services.

RAK Offshore | 23 Key Facts To Make Your Choice Easy

Varal Tem Member

Get a free quote now by filling in the box on the right and discover the facts to make your choice easy

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RAK Offshore was last modified: June 8th, 2019 by Manu Raj

Manu Raj

Has a positive attitude towards the job, is friendly and a team player.

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