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Setup Your RAK Offshore Company Remotely

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1. Place your Order Online

Fill in our quick RAK Offshore Company formation form to place your order in 5 minutes.

2. We will Incorporate your Company

We will collect and complete your documents, file the application and establish your company.

3. Start Business

You will receive your RAK Offshore Company license and you can start your business instantly!

Our Most Competitive Packages for RAK Offshore Company Formation

  • Basic
  • AED5,499
  • Includes RAK offshore company formation
  • Covers professional fee
  • Covers government incorporation fee
  • Covers 1st year government fee
  • Covers up to 3 shareholders
  • Covers Dubai address for company
  • BUY NOW
  • Regular
  • AED8,999
  • Includes RAK offshore company formation
  • Covers professional fee
  • Covers government incorporation fee
  • Covers 1st year government fee
  • Covers up to 3 shareholders
  • Covers Dubai address for company
  • BUY NOW
  • All Inclusive Free For Life
  • AED10,999
  • Includes RAK offshore company formation
  • Covers professional fee
  • Covers government incorporation fee
  • Covers 1st year government fee
  • Covers up to 3 shareholders
  • Covers Dubai address for company
  • BUY NOW

Limited-Time Offer: Expires on November 30, 2023

  • This special offer is available until November 30, 2023.
  • A fee of AED 500 is charged for each corporate shareholder.
  • The packages outlined above include services for up to three (3) shareholders in a company. An additional fee of AED 500 is applicable for each extra shareholder beyond the initial three (3).
  • The initiation of a bank account is contingent on the client’s personal and company profile. The decision to open a bank account

Why Establish Your Company in the Mainland of RAK?

Where are RAK Offshore Companies Registered?

RAK Offshore companies undergo registration with RAKICC, a government-owned corporate registration facility located in the Emirate of Ras Al Khaimah within the United Arab Emirates. RAK ICC holds a prestigious position among offshore company registries, comparable to the BVI, Jersey, and Cayman Islands, making it one of the globally recognized and reputable jurisdictions. RAK ICC is known for providing robust laws that govern the establishment and maintenance of offshore and foreign corporate entities.

RAK Offshore companies are established for various purposes, including:

  1. Conducting international business beyond the borders of the United Arab Emirates.
  2. Serving as holding companies.
  3. Owning real estate in the Emirates of Ras Al Khaimah and Dubai.
  4. Providing asset protection.
  5. Implementing tax planning strategies.
  6. Facilitating estate planning.

Key Advantages of RAKICC

When it comes to establishing offshore and international business companies, RAKICC provides the following primary benefits:

  1. Tax Exemption: Enjoy the advantage of no taxes, applicable in the majority of jurisdictions.
  2. Contemporary Legislation: Benefit from modern and robust legal frameworks.
  3. Registered Address: Secure a registered address for your business operations.
  4. Directorial Flexibility: Choose between single or multiple directors for your company.
  5. Audit Exemption: In many jurisdictions, there are no requirements for auditing and accounting.
  6. Global Business Reach: Conduct business internationally with ease.
  7. Inclusive Nationality: No restrictions on the nationality of those involved.
  8. Unrestricted Capital Expatriation: Experience the freedom of capital expatriation without limitations.

Restricted Activities for Offshore Companies by RAKICC

RAKICC places limitations on offshore companies, prohibiting them from engaging in the following activities:

  1. Media Operations
  2. Establishing Branch Offices within the United Arab Emirates
  3. Financial Services
  4. Aviation
  5. Insurance and Re-insurance
  6. Conducting Business Activities with Onshore Companies in the UAE

Permissible Activities

Here are the activities that are allowed:

  1. Property Holding (within Ras Al Khaimah and Dubai)
  2. International Trade
  3. Consultancy Services
  4. Brokerage Activities
  5. Online Advertising Activities
  6. Registration of Ships
  7. Various Services
  8. Trading

What is RAKICC?

Ras Al Khaimah International Corporate Centre (RAKICC) stands as a Corporate Registry, established under Emiri Decree No.12 of 2015, operating in Ras Al Khaimah, United Arab Emirates. Born from the merger of two former corporate registries, RAK International Companies and RAK Offshore, RAKICC is a highly esteemed offshore jurisdiction providing various types of incorporations. With approximately four hundred (400) different business activities available, RAKICC facilitates the incorporation of offshore companies while adhering to the highest standards and international practices.

Why Choose RAKICC?

RAKICC emerges as one of the most reputable jurisdictions, offering shareholders the opportunity to establish their offshore companies. Here are the main advantages:

1. Control:

RAKICC entities allow one hundred percent (100%) foreign ownership, providing shareholders with complete control over the business and management without restrictions on nationality.

2. Security:

RAKICC permits access to common law jurisdiction courts such as Dubai International Financial Centre (DIFC) Courts and Abu Dhabi Global Markets (ADGM) Courts. Proceedings in these courts are conducted in English, offering a distinct advantage over local courts.

3. Flexibility:

RAKICC provides ultimate flexibility to shareholders, including no minimum capital requirement, no mandatory audited accounts filing, and access to both local and international banks for corporate account opening. This flexibility extends to the option of incorporating a subsidiary in RAKEZ, enabling onshore activities in the UAE.

4. Cost-Effectiveness:

Contrary to heavy costs in some jurisdictions, RAK offshore company formation is cost-efficient with competitive incorporation and renewal fees. Additionally, there’s no need for a separate office, as the registered agent’s address serves as the company’s registered office.

5. Taxation:

RAKICC leverages its Double Tax Treaty (DTT) Network, ensuring shareholders avoid double taxation. With a zero (0) tax policy for entities, RAKICC provides a unique advantage for tax arbitrage.

6. Fast and Efficient Process:

RAKICC’s rules facilitate a swift and efficient incorporation process. Shareholders of any nationality or entities can be shareholders and/or directors, and the entire process can be completed within two (2) working days.

7. Privacy:

RAKICC offers financial privacy, minimizing corporate regulatory interference. Shareholders enjoy the benefit of not being obligated to maintain and submit balance sheets, audited reports, and other financial records, ensuring complete privacy.

8. Global Network with Growing Economy:

Being part of the UAE, RAKICC aligns its shareholders with a rapidly growing economy and a stable currency.

9. Strategic Location:

The UAE’s geo-political advantage makes RAKICC an ideal choice for businessmen, being the only jurisdiction in the Middle East allowing offshore company incorporation.

Who Can Benefit from RAKICC?

RAKICC extends its services to a broad audience, particularly advantageous for:

  • Entrepreneurs targeting a global audience.
  • Corporations seeking trade regulation advantages.
  • Individuals aiming for asset diversification.
  • Investors in search of prime investment opportunities.
  • Companies looking to incorporate subsidiaries.
  • Families planning for inheritance, estate planning, and wealth management.

Types of Companies Under RAKICC

Ras Al Khaimah International Corporate Centre (RAKICC) provides various types of companies tailored for different purposes, catering to the diverse needs of businesses venturing into international waters. Here are the three fundamental categories of companies one can incorporate under RAKICC:

Company Limited by Shares (CLS)

A sought-after choice, the CLS is a company where shareholders’ liability is limited to their initial investment in shares. This shields personal assets during financial difficulties, ensuring that the risk does not exceed the paid-up capital. Key uses of CLS companies include:

  • Holding Company: Holding shares in subsidiaries worldwide and real estate in Dubai.
  • Special Purpose Vehicle (SPV): Used for specific business or project-related endeavors.
  • Joint Venture (JV): Formed when entities collaborate under a single business name.
  • International Business Company: Conducting business globally for a widespread presence.
  • Project Company: Created for specific project execution, reducing exposure to risk.
  • Family Office: Manages family affairs, including wealth and asset management.

Segregated Portfolio Company (SPC)

A sub-category of the company limited by shares, SPC allows the incorporation of a company with multiple portfolios, each acting as an independent entity. Key features include:

  • Multiple portfolios (up to ten) for diversified business activities.
  • Ring-fencing each portfolio from general liabilities and other portfolios.
  • Flexibility in issuing different classes of shares for each portfolio.

Company Limited by Guarantee (CLG)

In a CLG, liability is limited to a predetermined guarantee amount paid in case of liquidation. This type of company is commonly used for:

  • Incorporating clubs or membership organizations.
  • Granting rights to apartment owners during real estate project development.

Unlimited Company (UC)

An unlimited company has investors with unrestricted liability, extending to personal assets. It operates akin to a partnership but with the ability to hold assets as a separate legal entity.

These diverse company types offered by RAKICC cater to various business structures, providing flexibility and options tailored to specific needs.

Setting Up Your RAK Offshore Company: A Seamless Guide

Thinking of venturing into international business? Look no further than RAK Offshore, a standout gem in the United Arab Emirates’ business landscape, also known as RAKICC Offshore Company, registered with the esteemed RAK International Corporate Centre.

Why Choose RAKICC for Your Offshore Endeavors?

RAKICC stands out for its top-notch legislation, aligning with global jurisdictions. As an International Business Company, it follows the Ras Al Khaimah Corporate Centre Business Companies Regulations 2016. Let’s dive into the perks:

  • Taxation Nirvana: Enjoy the sweet sound of zero taxes, a boon for your offshore venture.
  • Secrecy and Security: Your shareholders and directors revel in a cocoon of confidentiality, privacy, and security.
  • Audit Exemption: Bid farewell to the hassle of filing audit reports, saving you time and resources.
  • Capital Flexibility: No burdensome paid-up capital requirements, giving you the freedom to navigate your financial waters.
  • Directorial Freedom: Opt for single or multiple directors, with the option for nominee directors if needed.
  • Capital Expatriation Bliss: No limitations on capital expatriation, ensuring your financial operations flow seamlessly.
  • UAE Presence, No Strings Attached: Benefit from a registered address in the UAE without the need for rented office space.

Now, let’s demystify the process of setting up your RAK Offshore Company:

RAK Offshore Company Formation Made Simple

Embarking on this journey is a breeze, thanks to RAKICC’s streamlined process:

Step 1 – Order Placement: Visit our website and place an order for your RAK Offshore Company. The clock starts ticking from here.

Step 2 – Documentation Dance: We reserve your company name and craft the memorandum and articles of association within a brisk one working day.

Step 3 – Your John Hancock: Sign the documents at our offices or, if miles away, follow our guidance to sign in your homeland. Courier the originals to us.

Step 4 – Let the Registration Games Begin: We submit your documents to RAKICC, and within 2-3 working days, you receive your certificate of incorporation and other vital documents.

Activities Unleashed with RAK Offshore

Your RAK Offshore venture isn’t limited – explore international trade, consultancy services, brokerage, real estate holding, ship registration, stock market trading, and playing the holding company game. Just remember, these activities thrive internationally, not within the UAE.

Documents: What We Need

Before your company takes flight, we need a few essentials:

  • Passport copies of shareholders, directors, and secretary.
  • Proof of residence (in English).
  • Three proposed company names.
  • A peek into your company’s planned activities.

Ready, Set, Launch – and Open a Bank Account

Once your RAK Offshore Company is a reality, dive into business activities immediately. Need a bank account? We’re here to assist, whether it’s within the UAE or beyond.

A quick heads up – UAE residence visas aren’t on the menu here. For that, consider a free zone or mainland company setup.

In conclusion, RAK Offshore paves the way for a seamless international business journey. Dive in, and let the offshore adventure begin!

Offshore Company

Offshore Company

An offshore company, also known as an offshore corporation, encompasses two primary definitions:

  1. A company, group, or division engaged in offshoring business processes.
  2. International business companies (IBC) or legal entities incorporated under the laws of a jurisdiction prohibiting local economic activities.

The more common usage refers to companies formed in offshore jurisdictions, often considered tax havens. Examples include the British Virgin Islands, Bermuda, and the Cayman Islands. There are also mid-shore jurisdictions like Singapore and Hong Kong, and industrialized economies like the Netherlands and the United Kingdom, used for tax mitigation.

Classification of Offshore Companies

In the past, offshore companies fell into two categories. First, International Business Companies (IBC) enjoyed tax exemptions in their registered jurisdiction as long as they avoided financial activities with the local population. The second category includes companies in jurisdictions offering tax regimes for companies conducting all activities overseas and not repatriating profits. Examples include Panama and Anguilla.

While some jurisdictions, like Gibraltar and the British Virgin Islands, repealed their IBC legislation due to global tax initiatives, others, like Bermuda and the Cayman Islands, remain de facto tax-exempt.

Basic Characteristics of Offshore Companies

While variations exist depending on jurisdictional corporate laws, offshore companies share core characteristics:

  1. Lighter regulation of corporate activities compared to developed countries.
  2. Tax exemptions in their home jurisdiction.
  3. Promotion of business flexibility through corporate regime design.

Why Offshore Companies Are Formed

Offshore companies serve various commercial and private purposes, with some being economically beneficial and legitimate, while others raise concerns of criminal activities. Media often alleges offshore companies for white-collar crimes, fraud, tax evasion, and money laundering. However, these formations are commonly used in commercial transactions, joint ventures, holding companies, and private wealth management for tax mitigation and privacy purposes.

Own Real Estate Property in Dubai with an RAK Offshore Company

In a significant development in July 2019, RAK ICC and the Dubai Land Department inked a memorandum of understanding (MOU), granting RAK ICC offshore companies (also referred to as RAK IBC companies) the right to own real estate properties in freehold areas in Dubai.

This breakthrough eliminates the need to establish a Dubai-based company for property ownership in the city. RAK ICC companies now have the opportunity to directly invest in Dubai’s thriving real estate market, encompassing approximately 23 freehold areas, including Dubai Marina, Downtown Dubai, Palm Jumeirah, Jumeirah Lake Towers, Emirates Hills, Meadows, Arabian Ranches, Dubai Sports City, and Jumeirah Village Circle.

Before the MOU signing, companies incorporated outside Dubai couldn’t own real estate in the city. Traditionally, overseas investors opted for offshore companies with Jebel Ali Free Zone to own Dubai properties. Now, investors can choose RAK offshore companies, offering lower incorporation and maintenance costs compared to Jebel Ali offshore companies.

If you’re considering property acquisition in Dubai through an RAK offshore entity, RAK ICC will provide a no objection certificate. This certificate is presented to the Dubai Land Department for registering the property under your company’s name.

RAK ICC is committed to addressing client and business partner needs, regularly introducing new services, products, and collaborations with authorities and firms. We believe our clients can leverage this excellent opportunity with seamless professional assistance from our dedicated team at InZone.

Documents Required for RAK Offshore Company Formation

To kickstart the RAK offshore company formation process, copies of the following documents from all shareholders and directors are necessary:

Documents Required:

  1. Passport copy
  2. UAE visa or entry stamp to the UAE (if available)
  3. Proof of residential address – latest utility bill

Documents You Will Receive:

Upon the successful incorporation of your company, you will receive the following documents:

  • Certificate of Incorporation
  • Memorandum and Articles of Association
  • Share certificate(s)
  • Register of Directors

Bank Accounts

We work closely with the following banks for opening bank accounts for our clients.

Comparison between Offshore Companies in UAE

Here is an easy comparison of the key features available in each of the three (3) types of offshore companies set-up in the UAE.

  • Hold real estate
  • Hold other assets
  • Act as parent company
  • Confidentiality
  • Tax free
  • Annual audit requirements
  • International business activity
  • UAE residence visa
  • RAK Offshore
  • AED5,499
  • in Dubai and RAK only
  • Not applicable
  • Not possible
  • BUY NOW
  • Jebel Ali Offshore
  • AED20,499
  • in Dubai only
  • Not applicable
  • Not possible
  • BUY NOW
  • Ajman Offshore
  • AED8,999
  • in Ajman only
  • Not applicable
  • Not possible
  • BUY NOW

Ras Al-Khaimah International Corporate Centre (RAK ICC)

One of the jurisdictions that allows offshore firms to be incorporated and grows the fastest is RAK ICC. They provide the following advantages and have a solid reputation for adhering to and respecting international standards:

Ras Al-Khaimah International Corporate Centre (RAK ICC)

Benefits

  • Single-day incorporation process, available through the RAK ICC portal.
  • No restrictions on the number of shareholders.
  • No requirement for a physical office.
  • Access to common law courts such as ADGM and DIFC.
  • Offers a variety of legal structures tailored for different business purposes.
Frequently Asked Questions
  1. Who should ideally incorporate/set up an offshore company?

    1. Any person/investor who is interested in starting a business internationally.
    2. Any person/investor who intends to minimize his/her tax liabilities or otherwise protect assets.
    3. Any person/investor interested in carrying out general trading and professional services.

  2. What are the key benefits of an offshore company?

    The following are the typical key benefits of an offshore company:

    • Offshore companies can be owned by anyone 100%.
    • Most of the offshore jurisdictions assure confidentiality of shareholders.
    • Most of the offshore business setups enjoy zero corporate taxes.
    • Offshore companies can be registered from anywhere in the world. There is no need for the owners to visit the relevant jurisdiction.
    • There is no requirement of physical office.
    • Offshore entities can open bank accounts inside and outside the UAE, provided the shareholders meet the requirements of the relevant bank.
    • Offshore companies can own shares in any other legal entities inside and outside UAE.

  3. How is the name of an offshore company approved?

    Offshore companies are typically required to use ‘Limited’, ‘Ltd’ or similar other words as suffix to indicate their legal status.

    As a general rule, offshore companies are not permitted to use words such as Dubai, RAK, Ajman, Emirates, Financial, Bank, Gulf, School, University or Re-insurance.

  4. Are there any specific accounting or audit requirements for offshore companies?

    Most of the offshore companies around the world are required to maintain books of accounts which should be audited annually. However, in most such cases, there is no requirement to submit any audited financial statements.

  5. What is the time-frame for setting-up an offshore company?

    Assuming all the required documents are already provided to us, depending upon the jurisdiction, most of the offshore companies can be incorporated between 1-5 working days.

  6. What is an offshore company not permitted to do?

    1. An offshore entity is not permitted to undertake any business activity inside the country of its incorporation.
    2. An offshore entity is not eligible for any UAE visas.
    3. An offshore entity cannot lease an office space.
    4. An offshore entity is not permitted to hire employees in.

GET IN TOUCH

Have questions?

Having trouble? Find the answer to your query here. Don’t hasitate to contact us!

Julphar, Al Mataf Road, Ras Al Khaimah, UAE

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    Rotana Business Center

    ADDRESS

    Julphar, Al Mataf Road, Ras Al Khaimah, UAE

    PHONE

    +971 58 8181824

    +971 7 2430438

    EMAIL

    info@rotanabiz.com

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