RAK Offshore Company Formation

Ras Al Khaimah (RAK) is situated at the northernmost part of the United Arab Emirates (UAE), one of the leading destinations for setting up a company in the country. RAK’s cost-effective and business-friendly environment has aided numerous investors to achieve a higher return on investment.

Founded in 2000, Ras Al Khaimah Free Trade Zone (RAK FTZ) is one among the three major offshore jurisdictions in the UAE.

Ras Al Khaimah Investment Authority (RAKIA) was established to strengthen the investment sector of RAK and to promote numerous financial industries.

As of 2017, RAK FTZ and RAKIA is now part of a larger group, RAK Economic Zone (RAKEZ). Ras Al Khaimah Economic Zone (RAKEZ) was founded to supervise and merge the specific clienteles of RAK FTZ and RAKIA.

RAK Offshore Company formation is primarily envisioned for investors who are in search of a safe place to process international businesses and transactions.

RAK Offshore provides an offshore site for international organisations and financial services. It offers a robust and flexible legal structure.

RAK offshore company registration offers several benefits including,

• Auditing not required
• Exemption from personal income or corporate taxes
• Fast and economical company set up
• Complete foreign ownership
• Double Taxation Avoidance Agreement with over 40 countries
• No restrictions in foreign currencies
• Not required to have physical offices
• High level of confidentiality
• Easy access to markets throughout the Middle East, North Africa, Europe and Asia
• Shareholder is allowed to operate the establishment

Each RAKEZ Offshore Company is mandatory to have a secretary, which is assigned by the shareholders for such period as determined by the investors. It is possible for a shareholder to be appointed as a director or a secretary. The company is required to have a minimum of one director. The Memorandum and Articles of Association (MOA and AOA) will have the fixed number of directors. Information on the directors and shareholder will not be available for public inspection. The incorporators will assign the first directors at the time of incorporation and will be subsequently elected by the shareholders.