Set up an Offshore Company in RAK
Set up an Offshore Company in RAKUpdated on Monday 31st October 2016
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Ras Al Khaimah (RAK), a region of the United Arab Emirates (UAE), has recently become one of the most attractive offshore destinations for investors around the world. Business environment in RAK is regulated by RAK Investment Authority; if you are interested in opening an offshore company, our lawyers in Dubai can offer you a detailed presentation of the RAK business market and legislation.
Advantages of an offshore company in RAK
Setting up an offshore company may represent, in terms of taxation, the most advantageous type of company. If you want to register an offshore company in RAK, you can ask for legal representation from our law firm in Dubai, where you can receive an in-depth presentation on the UAE legislation available for foreign investors.
Opening an offshore company in RAK will offer you the following benefits:
• it is not imposed a minimum capital for the company;
• tax exemptions from capital gains, profits on business earnings, property sales or value added tax;
• RAK legislation allows offshore companies to have 100% foreign ownership;
• an offshore bank account;
• the company does not have to report any documents;
• offshore companies do not have to perform audit procedures;
• the capital of the bank does not have to be deposited in a bank in RAK;
• the offshore owners can own properties in RAK;
Nominee services can be provided by lawyers in Dubai. You can find out more about how to set up a company in RAK from this video:
Documents for an offshore company in RAK
Opening an offshore in RAK may have lower costs for the investors, compared to other emirates in UAE. Incorporating a company in RAK includes the following services:
• formation of the company and registering the company’s name;
• registered office,
• secretarial services;
• government fees for company registration.
RAK authorities will issue the following documents:
• Certificate of incorporation;
• Memorandum and Articles of Association;
• company stamp;
• registering the directors/shareholders.
You may contact our Dubai law firm for more information about the incorporation of an offshore company and the advantages it may bring to your business.