The Ras Al Khaimah Investment Authority (RAKIA) handles the investment affairs of RAK. With this, they established the RAK Offshore for the purpose of catering to the high demand of offshore markets. This also helps them in expanding their sources of revenue for the continuous growth of their economy.
Over 1,900 International Business Companies (IBCs) are recorded in RAK offshore’s client portfolio. The primary businesses that are registered with RAK offshore are real estate and property investments. New policies are established by RAK offshore ensuring that a welcoming environment is provided for the people who would want to begin an offshore business.
Ras Al Khaimah Investment Authority (RAKIA) ensures that RAK offshore company regulations and jurisdictions are accommodating to different kinds of businesses. It can serve incorporations with the following: asset protection, trading operations, real estate holding, tax planning, and you can even set up your own RAK offshore bank account, etc.
One of the many advantages of registering is that the person does not need to be in the country for the registration. In registering for a RAK offshore company setup, a business owner needs to be in contact with one of the RAK offshore registered agents. This agent will be the one to handle the processing and go through all the procedures. These agents are also available to provide you with any details about Ras Al Khaimah business opportunities. Before you decide to go forward with your plan of going through RAK offshore company registration, this agent can advise you further if needed, like letting you know about RAK offshore regulations so you will be guided more.
Since RAK offshore is a cost-effective place to setup an offshore business, RAK offshore company formation fees are affordable compared to other offshores. Therefore, it is advisable to choose this place if you intend to establish an offshore company that has hassle-free registration.
There are a number of benefits that come with deciding to carry out a RAK offshore company registration. Some of the main advantages are as follows: RAK offers privacy and confidentiality for all of your information, RAK offshore company cost is reasonably priced and if you are looking forward to setting up your offshore company in an ideal location for business operations without too much cost and hassle, RAK ICC offshore is the answer to such prerequisite.
Benefits / Advantages
- 100% foreign ownership.
- Exemption from all import duties.
- 100% repatriation of capital and profits.
- Freedom from corporate taxation.
- Abundant inexpensive energy.
- Simple and efficient recruitment procedures.
- A high level of administrative support.
- The company can hold a bank account in the UAE.
- To legally protect assets from possible claims by others.
- To simplify the transfer of ownership and save stamp duty which otherwise becomes payable when the property is sold.
- You can have your own license from the government and make business anywhere in the world.
- No office required.
- No paid-up capital.
- The easiest way to make your international trade business
Before you decide to advance with your plan on carrying out a RAK offshore company setup, you must know which activities are allowed and not. There is a long list of business activities that are permitted to be conducted in RAK offshore, but there is also a list of activities that are prohibited there such as the following:
- Intellectual Property
- Movie Production
- Game and Win
As a consultancy in Ras Al Khaimah, FAR Consulting Middle East is one of the RAK offshore registered agents. With 30 years of experience in our sleeves, we continually handle RAK offshore company setup with quality that makes us stand out from the reset. We assist business owners who are looking to establish a RAK offshore company and even give them the information that they need with regard to RAK offshore company cost as well as other Ras Al Khaimah business opportunities.
We provide the following services once you let us handle your business set up in Ras Al Khaimah:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
The procedure of processing your RAK offshore company formation would range from 2 to 4 weeks.
Requirements for RAK Offshore Company Registration:
- Proof of tradename reservation (our firm’s task)
- Proof of initial approval for the activities (our firm’s task)
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
- Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).
- There are some activities which might require third party/authority’s pre-approval—accordingly, additional cost and professional fees might be applicable.
- Also, during the process, the authorities might require a few other documents.
Additional Documents Required for a Corporate Shareholder:
- Attested and notarized Memorandum of Association/Article of Association—must be attested by the UAE Embassy at the place of origin
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin expressing intent of establishing a new setup abroad; it must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation of your existing company/entity attested and notarized by the UAE Embassy
RAK Offshore Company Setup Cost
The below table shows the estimated RAK offshore company formation fees. If needed, you can contact us for further information and clarification with regard to our RAK offshore company setup cost.
|Cost of RAK Offshore Company Setup|
Table of Estimated Government Costs and Professional Fees
|Trade License Option/Activity||Cost in USD||Cost in AED|
|Lump sum amount (covers registrations fees and our professional fees)||4,000||14,680|
|Assistance in Opening Bank Account (Optional)||1,000||3,680|
|Our Firm’s Professional Fees||5,000||18,365|
ATTENTION – NOTE