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Companies we have worked with
What is RAK?
A RAK offshore company formation can engage in almost any form of international business. While it is prohibited from conducting business operations within the UAE, it can maintain a corporate account with a UAE bank.
This entity can also be utilized to own real estate property in Dubai, and currently, forming an RAK international company is the most cost-effective method.
Who Can Benefit from RAK ICC?
RAK ICC (RAK International Corporate Center) providing substantial benefits for
- Entrepreneurs aiming to expand their reach to a global audience
- Corporations are looking for favourable trade regulations
- Individuals seeking to diversify their assets
- Investors are searching for prime investment opportunities
- Companies wishing to incorporate their subsidiaries
- Families focused on estate planning and wealth management
RAK Offshore Company Formation Features
Shareholders
To register an international corporation with RAK ICC, at least one shareholder is required, which can be an individual or entity. Shareholders set the capital structure and can issue shares with or without par value. Registered and bearer shares are allowed.
Directors
To register an international company with RAK ICC, you need at least one director. While corporate directors are permitted, there must be at least one individual director. Directors can be of any nationality and do not need to reside in RAK.
Company Secretary
Although the laws in Ras Al Khaimah do not mandate a company secretary, appointing one can streamline the signing duties during the RAK Offshore incorporation procedure. All companies must employ a company secretary.
Beneficial Owners
Businesses registered with RAK ICC must keep an updated register of ultimate beneficial owners and submit it to the RAK ICC authority.
Registered Address
Maintaining a registered office address within the zone is essential. RAK ICC International Business Companies must also appoint an authorized registered agent.
Taxation
RAK ICC International Business Companies in the UAE enjoy tax exemptions but may be subject to VAT on taxable supplies. They are not considered UAE residents and are ineligible for tax residency certificates or double taxation benefits.
Company Names
RAK Offshore company names must end with "incorporated" or "limited" and can be in foreign languages. Prohibited terms include assurance, bank, insurance, mutual fund, and trust. Ensure your company name is unique and compliant.
Timeline
Registering an international business with RAK ICC typically takes 4-5 days from submission. This includes reviewing and approving documents. Once approved, you’ll receive an official registration certificate to operate under RAK ICC’s jurisdiction.
Documents Required to Incorporate an Offshore Company in Ras Al Khaimah
For Directors and Shareholders
- Passport Copies: Certified copies of passports
- Proof of Address: Utility bill or bank statement showing residential address
- Last six months' Bank statement
- CV/Resume: A brief curriculum vitae
For Corporate Shareholders
- Certificate of Incorporation: Certified copy
- Certified copy of Memorandum and Articles of Association
- Board Resolution: Authorizing the establishment of the RAK offshore company
Company Documents
- Constitution: Outlining the structure, rules, and regulations governing the company
- Director Non-Debarment Form: Ensuring directors are not barred from holding a director position
- Form 45: Director’s Permit
- Personal Data Protection Act (PDPA) Form: Consent to collect, use, and disclose personal data
- Tax Declaration and Consent Form: Compliance with tax regulations and consent to necessary tax declarations
- Notice of Controller: Information on individuals or entities that have significant control over the company
- ROC - Authorization to Lodge in ACRA: Authorizes the representative to lodge documents with ACRA
Want to learn more about RAK Offshore Company Formation?
Steps to Set Up RAK Offshore Company
Select and reserve a unique company name through the RAK ICC registry.
Governing Regulations for RAK Offshore Company Incorporation
Ultimate Beneficial Owner Declaration (UBO)
Economic Substance Regulation for RAK Offshore Companies
- Banking Business
- Insurance Business
- Investment Fund Management Business
- Lease – Finance Business
- Headquarters Business
- Shipping Business
- Holding Company Business
- Intellectual Property Business
- Distribution & Service Centre Business
Benefits of RAK Offshore Company Formation
Tax Exemptions
No corporate or income taxes
Full Foreign Ownership
100% foreign ownership allowed
Confidentiality
High level of privacy and confidentiality for company owners and shareholders
No Auditing Requirements
There is no requirement to submit annual audits or financial reports
Low Setup and Maintenance Costs
Cost-effective incorporation and maintenance fees
Ease of Setup
Quick and straightforward company formation process
Bank Account Flexibility
Ability to open bank accounts in the UAE or internationally
Asset Protection
Protection of assets through a structured legal framework.
Flexibility in Business Activities
Broad range of permissible business activities
Access to International Markets
Ability to conduct international business transactions
Stable Regulatory Environment
Governed by internationally recognized regulations and laws
Why Choose IMC Group for Your RAK Company Registration
Comprehensive Support
We handle the entire incorporation process, so you don't have to worry about the complexities of setting up a company overseas.
Stress-Free Experience
Once we have your information, we take over completely, relieving you of any pressure or administrative burden.
Expertise and Efficiency
Our experienced team ensures the process is efficient and compliant with all regulations, providing peace of mind.
Expert Guidance
Our team is highly knowledgeable about RAK regulations and will assist you in selecting the most suitable business structure.
Complete Documentation
We handle all paperwork for trade licensing, passports, and visas.
FAQs for Starting a RAK Offshore Company Formation
Ras Al Khaimah Free Zone (RAK FTZ) supports various business activities. Familiar eligible companies include:
- Trading companies: Importing, exporting, wholesale, and retail.
- Consulting and professional services: Legal, accounting, engineering, and IT.
- Industrial companies: Manufacturing and production, including food processing, machinery, and chemicals.
- E-commerce and online businesses: Conducting activities primarily through the internet.
- Service companies: Offering services like shipping, logistics, travel, tourism, and hospitality.
The company name must:
- Contain no more than one hundred permitted characters.
- End with “Limited”, “Incorporated”, or their abbreviations “Ltd” and “Inc” for limited companies.
- Be distinct from existing company names and not on the Registrar’s reserved name list.
- Avoid restricted words like bank, council, credit, fund, and forex.
- According to the Registrar, not be offensive or contrary to public policy or interest.
RAK ICC companies can be established as:
- Company limited by shares (the most common)
- Company limited by guarantee
- Unlimited Company
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