RAK Offshore company was established by the Ras Al Khaimah Free Trade Zone Authority (RAK FTZ), to address the global demand for a safe, secure and discrete jurisdiction for the incorporation of International Business Companies (IBCs), while raising the profile of the Emirate of Ras Al Khaimah as a premier destination for investment.
A crucial feature of RAK Offshore is that it offers complete privacy and confidentiality through a closed book register; owners of IBCs are kept confidential, ensuring a highly advantageous business environment for both individual and corporate investors. RAK FTZ is not a dependent or 'overseas' territory of another country and as such it is not sharing or reporting information to any overseas ‘principal’ or organization. Ras Al Khaimah is not subject to the EU Savings Tax Directive, unlike some other offshore tax havens related to the EU member states. Law Trust can assist you with getting a RAK offshore company in UAE. With RAK offshore company, you can open a company bank account in the UAE.
RAK Offshore (RAK FTZ)
RAK FTZ Offshore’s portfolio of services includes a wide range of services. RAK FTZ Offshore facilitates the establishment of IBCs whose activities include international trading, asset protection, and tax planning.
Under the continued guidance of H.H. Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK FTZ continues to pursue the goal of transforming Ras Al Khaimah into an offshore haven for business.
ADVANTAGES OF RAK OFFSHORE COMPANY
- 100% tax free in UAE (no corporate tax, no income tax, no VAT)
- 100% expat ownership
- No local sponsor required
- Discreet (RAK FTZ has a closed register and is not a signatory to any information exchange with national tax authorities unlike European or UK overseas territories)
- Minimum capital is not required for the incorporation of an offshore company – the paid up capital doesn't have to be shown to the authorities
- One person can set up a RAK Offshore Company as a sole shareholder, director and secretary of the company
- Can be registered remotely (JAFZA Offshore requires presence of min. 2 directors).
- No physical presence required in UAE
- Speedy company registration in 2 working days once all documents are provided
- You may open a corporate bank account in the UAE in a variety of major foreign currencies. Please note that for bank account opening, you are required to come to the UAE as deemed necessary by the Central Bank Regulation on corporate account procedures
- No annual audit is required
- UAE is not on the OECD 'blacklist' of tax havens nor the FATF blacklist
Residence visas cannot be obtained under the company and you may not conduct business within the United Arab Emirates.