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Capital: Ras Al Khaimah City
Official languages: Arabic, English is widely spoken
Currency: UAE dirham (AED)
The Ras Al Khaimah is the northern part of the United Arab Emirates, also renowned for the RAK offshore company formation process which allows considerable advantages.
RAK offshore company formation: overview
The increasing interest shown towards RAK offshore companies is the result of the new regulation which favours international investments as well as the attractiveness of the security and confidentiality ensured to entrepreneurs by the business setup in Ras Al Khaimah.
Some benefits of a RAK offshore company:
In addition, the RAK offshore company setup allows companies to open local business accounts, make tax free investments and, when necessary, obtain mortgages that if approved, permit the ownership of properties in the Ras Al Khaimah freezone.
Ras al Khaimah Background
Not being a producer of oil, this country had to develop different economical sectors such as real estate, tourism, manufacturing, services, agriculture and high tech materials. It enjoys political and economic stability as well as secure baking infrastructure, telecommunication facilities not to mention that the UAE is a well-known financial and business centre.
Since a RAK offshore company is not permitted to trade within the UAE nor rent local premises, it can be particularly suitable for entities looking to carry on business accordingly or also to minimize their tax liability and interested in asset wealth preservation.
Our team at GR Morgan Formations can take care of your RAKIA offshore company setup and provide you with all the services you need, get in touch now.
| REQUIREMENTS FOR RAK OFFSHORE | Included Package | |
|---|---|---|
| Name Check and incorporation | We usually ask you to choose 3 names when ordering | * |
| Currency | Any permitted - usually USD | * |
| Minimum share capital | Minimum 1 shares . No paid up capital required | * |
| VAT/ Sales Tax | 0% | * |
| Directors | Minimum 1 director. Can be individual or Corporate entity | * |
| Company Secretary | Yes. Can be individual or Corporate entity | |
| Shareholder | Minimum 1 shareholder .Can be individual or Corporate entity | * |
| Registered address | Mandatory to have a local address | |
| Local Requirements | Mandatory to have local Agent | * |
| Yearly Government renewal /Annual Return | Yearly basis | * |
| Filing of accounts | Not required to file accounts | |
| Audit Requirement | Accounts must be audited but NOT filed with the authorities | |
| Taxation | 0% | |
| RAK Offshore INCORPORATION PROCEDURES | |
|---|---|
| Fill out Incorporation form | Apply online |
| Documents required | Upload a copy of requested documents |
| Payment | Pay online with our secure payment |
| During & After incorporation | We will follow up your companyto meet all requirements ensuring you focus on your business |
| Duration for Incorporation | 5-10 working days |
| First Year Fees | Renewal Fees | |
|---|---|---|
| Inclusive : | Order £ 1600.00 | £ 1100.00 |
| *Incorporation | * | * |
| *Registration with Ras Al Khaimah Investment Authority (RAKIA) | * | * |
| *Paying government fee | * | * |
| *Registered address and registered agent | * | * |
| *Certificate of Incorporation | * | * |
| *Standard Memorandum and Article of Association | * | * |
| *Ongoing Support | * | * |