Ras Al Khaimah (RAK)
Register your company in RAK, United Arab Emirates
Its booming economy and proximity to other major international centres like Dubai has attracted hundreds of large, medium and small businesses from every part of the world; now, RAK Offshore is making it possible for non-resident corporations, entrepreneurs and individuals worldwide to enjoy all the advantages which were available only to resident entities.
RAK investment authority
RAK Investment Authority is a fully fledged business and industrial arena offering competitive Free Zone and Non Free Zone facilities. RAK Investment Authority offers industrial and business investors the benefit of smooth set up of their operations in a dynamic and synergistic environment.
Why choosing to incorporate a RAK Offshore company?
The IBC portrays a good image to your clients and suppliers;
- The RAK Offshore IBC is not permitted to trade in the United Arab Emirates (UAE);
- The RAK Offshore IBC cannot rent local premises in the UAE.
UAE looks set to reap the rewards of the EU ruling under which banks are now forced to reveal information to tax authorities; the EU Savings Directive obliges financial institutions in all EU member states to either disclose tax and bank information to the relevant tax authority, or charge clients a hefty withholding tax.
Though the new directives will specifically affect EU residents, a number of banks in ‘tax havens’ have also agreed to exchange customer information, including Jersey, Guernsey, the Isle of Man, the British Virgin Islands, the Cayman Islands, Switzerland, Liechtenstein, Monaco and San Marino. The reputation of discretion for some of these countries is being eroded. In order to keep details of their wealth private, bank customers now have the option of paying a withholding tax which will be levied directly in the country in which their savings are held.
UAE has long enjoyed a reputation as a secure, tax-free jurisdiction for international banking and company incorporation. With this latest development from Europe, RAK company registration and corporate and personal banking options are becoming more popular with international businesses and high net worth individuals.
Main advantages of RAK Offshore company
No value-added tax.
What a RAK Offshore IBC may and may not do
It may have non UAE resident as director or shareholder.
Main activities hold outside UAE
- General Trading
- Consulting and Advisory Services
- Holding Company
- Property Owning
- International services
- Professional Services
- Shipping and ship management companies
Main activities held inside UAE
- Holding Assets
- Holding Bank Account
- Property Owning (Freehold Areas)
Key corporate features
- Type of Company – Limited by shares
- Political Stability – Excellent
- Common or Civil Law – Any
- Disclosure of Beneficial Owner – Yes
- Migration of Domicile permitted – Yes
- Corporate Taxation – Nil
- Language of Name – English or Arabic
- Minimum number of Shareholders / Members – One
- Minimum number of Directors / Managers – One
- Corporate Directors / Managers permitted – Yes
- Usual Authorised Capital – Dhs 1,000 (minimum)
- Minimum paid up – Fully paid
- Registered Office / Agent – Yes
- Local Partner – (UAE National or Company owned by UAE National) – No
- Local Directors – No
- Local Meetings – No
- Government Register of Directors / Managers – Yes
- Government Register of Shareholders / Members – Yes
- Annual Return – No
- Submit Accounts – Yes
Recurring government costs
- Minimum Annual Tax / License Fee – AED 2,000
- Annual Return Filing Fee – N/A
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.