Business Setup

 

RAK Offshore Company Formation

 

RAK or Ras Al Khaimah Offshore was established by the Ras Al Khaimah Investment Authority (RAKIA) and is situated at the emirate of Ras Al Khaimah, which occupies the northern region of the country of United Arab Emirates. With its unique and extremely business-friendly rules and regulations, the RAK offshore has been luring foreign investors to the jurisdiction. Companies across the globe are setting their foot into the RAK offshore to obtain international company status. As offshore companies need not require a physical entity, it has gained more attention over the years.

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RAK Offshore Company Setup

RAK is a growing emirate, but with its business-friendly policies, RAK has managed to bring in investors from across the world. If you are planning to set up an offshore company in Ras Al Khaimah, it is important to know the features of an offshore company:

  • Ensures 100% confidentiality
  • Can own real estate assets in Dubai and UAE
  • Can maintain bank accounts in Dubai
  • Accounting and auditing not required
  • Complete foreign ownership
  • Fast incorporation
  • No restriction on Currency
  • Full repatriation of profits and capital

RAK offshore company setup only requires a minimum of one shareholder and they can be corporate shareholders as well. A single person can act as the director, secretary, and shareholder of the company. As your physical presence is not required for the registration of the company, with the help of a registered agent and with the necessary documents, you can get your company registration done.

 

Documents for RAK offshore company formation

 

For individuals:
  • CV of the applicant
  • Passport copies of shareholders with entry stamped page in UAE
  • Proof of residence of the shareholder (lease agreement or utility bills of any kind)
  • Power of Attorney- attested by a public notary if the POA holder represents the applicant.
For companies:

The applicants must submit the following documents;

  • Certificate of Incorporation of the parent company
  • Memorandum & Article of Association of the parent company
  • Board resolution to form a subsidiary/ branch in Dubai
  • Certificate of good standing of the company
  • Copies of passport, bank reference letter, proof of residence, CV of the shareholders or directors of the parent company.
  • Proof of residence of the Authorized representative of the parent company (lease agreement or utility bills of any kind)

With the necessary documents, the company registration will only be a matter of few weeks.

 

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