Offshore Company in Ras Al Khaimah
RAK Offshore Company Formation
Looking for a swift and efficient RAK Offshore Company Formation? Look no further than Supreme Services. We specialize in streamlining the process of setting up an offshore company in Ras Al Khaimah (RAK), ensuring a seamless path to success through our optimal structures and efficient procedures.
Offshore Company in Ras Al Khaimah
Supreme Services: Open a RAK Offshore Company
Why should you consider starting a RAK offshore company?
Tax Efficiency: RAK offshore company registration offers a zero-tax regime, providing a cost-effective solution for business setup in the UAE.
Audit Exemption: RAK offshore companies are not required to submit audit reports, reducing administrative burdens and costs for business owners.
Corporate Banking Security: RAK offshore companies offer complete corporate banking security and privacy for expat investors residing in the UAE.
Established Infrastructure: With the initiation of offshore company formation by RAK Investment Authority (RAKIA) in 2007, Ras Al Khaimah provides a well-established infrastructure for offshore business operations.
Flexibility: The RAK International Corporate Center (RAK ICC) serves as a Corporate Registry for International Business Company (IBC) incorporation, offering flexibility and convenience for global trade.
Cost-Effectiveness: RAK offshore company costs are significantly lower compared to other offshore jurisdictions in the UAE, making it an economical choice for business owners.
Global Trade Opportunities: RAK offshore companies enable businesses and individual entrepreneurs to engage in global trade, expanding their reach and opportunities internationally.
Double Taxation Avoidance: UAE's Double Taxation Avoidance Agreements with 142 countries make Ras Al Khaimah and Ajman ideal locations for offshore company incorporation, attracting investors from around the world.
With its favorable tax environment, regulatory framework, and strategic location, RAK offers a compelling proposition for offshore company formation, facilitating international business ventures and investments.
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Advantages of RAK Offshore Company
What are the benefits of registering an Offshore Company in RAK?
Operate Internationally: RAK offshore companies can conduct business as international entities, enabling them to engage in global trade and investment activities.
Complete Foreign Ownership: Investors enjoy complete foreign ownership of their RAK offshore companies, providing full control and autonomy over business operations.
Banking Flexibility: Offshore companies in RAK can open bank accounts both locally and internationally, facilitating seamless financial transactions and investments.
Privacy and Confidentiality: RAK offshore companies benefit from the highest level of privacy and confidentiality, ensuring the protection of sensitive business information and assets.
International Investment Protection: Offshore companies in RAK provide a platform to protect investments in foreign countries, offering legal and financial safeguards.
Asset Transfer: Offshore companies simplify the transfer of assets and properties held across multiple countries, streamlining asset management and diversification strategies.
Investment Opportunities: RAK offshore companies can invest in UAE free zone companies and Limited Liability Companies (LLCs), capitalizing on diverse investment opportunities.
Dispute Resolution: RAK offers robust dispute resolution mechanisms for the settlement of commercial disputes, ensuring legal recourse and protection of business interests.
Transfer of Domicile: Offshore companies in RAK have the option for transfer of domicile or continuation, providing flexibility in corporate restructuring and relocation.
International Standards: RAK offshore companies adhere to strict compliance with international standards of business practices, ensuring credibility and trustworthiness in global markets.
Simplified Setup: The registration process for RAK offshore companies requires just one shareholder, and the director and shareholder can be the same person, streamlining the incorporation process.
Language Flexibility: Submission of documents in Arabic is not compulsory during the registration process for RAK offshore companies, offering convenience to foreign investors.
Renewal Process: The renewal process for RAK ICC companies is straightforward, reducing administrative burdens and ensuring continuity of business operations.
Residency Flexibility: There are no limitations on shareholder and director residencies, providing flexibility in corporate governance and management structures.
Process of Offshore Company Formation in Ras Al Khaimah
Offshore Company in Ras Al Khaimah
RAK Offshore Company Registration Process
The process to form an Offshore Company in RAK ICC is straightforward and efficient, making it a preferred destination for foreign investors. Here's an overview of the registration process:
Company Name Approval: Obtain approval for the company name and specify the desired business activities for the offshore company.
Application Submission: File an application to the Registrar of RAK ICC. Ensure that the application includes all required documents as prescribed by the Registrar.
Authorized Filing: The application for incorporation must be filed by the proposed registered agent appointed for the company. No other person is permitted to submit the application.
Payment of Fees: Pay the registration fees and any other incorporation expenses associated with the process. Payment can be made online, via cash, or through money transfer, as per the Registrar's guidelines.
Registrar Approval: If the Registrar is satisfied that all requirements for incorporation have been met as per the regulations, the application will be approved.
Document Registration: The Registrar will register the necessary documents and allocate a unique number to the company.
Certificate Issuance: Upon successful registration, the Registrar will issue a certificate of incorporation to the company in the approved format.
Bank Account Setup: With the certificate of incorporation obtained, you can proceed to create a corporate bank account for the offshore company.
Commencement of Operations: Once the corporate bank account is set up, your offshore company is ready to commence its operations.
Corporate TAX Registration: RAK offshore companies need to register for corporate tax.
Following these steps ensures a smooth and efficient process for registering an offshore company in RAK ICC, allowing investors to establish their business presence quickly and easily.
Documents for Individual Shareholder(s) in RAK ICC
To incorporate an offshore company in Ras Al Khaimah, individual shareholder(s) are required to provide the following documents:
Valid Passport Copy: Copies of valid passports for each shareholder/director, along with the UAE entry visa stamp page if applicable.
Proposed Company Names: Provide three proposed names for the company, as per the guidelines of RAK ICC.
Personal & Business Profile: Detailed personal and business profiles of each shareholder, including a curriculum vitae (CV) outlining their background and experience.
Residency Proof: Proof of residency for the shareholders, such as a utility bill (electricity or telephone) confirming their residential address.
Original Bank Good Standing Letter: A letter from the shareholder's bank confirming their good standing and reliability. The bank account referenced in the letter must have been operational for at least two years or more.
Ensuring the timely submission of these documents will facilitate the smooth incorporation process for the offshore company in Ras Al Khaimah.
Documents necessary for Corporate Shareholders in RAK ICC
For setting up an offshore company in Ras Al Khaimah with corporate shareholders, the following documents are required:
Applicant Company's Documents:
Photocopy of the business license or incorporation certificate of the applicant company (attested).
Notarized Memorandum of Association (MOA) or Articles of Association (AOA) of the applicant company.
Incumbency certificate of the applicant company, indicating the names of shareholders and directors.
Notarized Certificate of Incorporation and good standing of the applicant company.
Passport Copies: Passport copies of all directors and shareholders of the applicant company.
Legal Resolutions and Powers of Attorney:
Notarized Board resolution authorizing the company's participation in the offshore company setup.
Notarized Power of Attorney empowering individuals to act on behalf of the corporate shareholder.
Director and Shareholder Profiles:
CVs or profiles of directors, shareholders, and secretary associated with the corporate shareholder.
Proof of Address:
Utility bills of corporate shareholders and directors serving as proof of address.
Bank References:
Bank references of the corporate shareholders, confirming their financial standing and reliability.
*Note: If the corporate shareholder is owned by another company, additional documents may be required to determine the primary beneficiary owner.
RAK Offshore Company Setup with Professional Business Consultants
Why should you consider seeking assistance from business consultants for RAK Offshore Company Setup?
Expert Knowledge: Professional business advisors possess comprehensive knowledge of offshore company incorporation laws across the United Arab Emirates, including Ras Al Khaimah. Their expertise ensures that your offshore company setup complies with all legal requirements and regulations.
Document Preparation and Submission: Business consultants handle the preparation of necessary documents and submit them on your behalf to the relevant government agencies. This saves you time and effort while ensuring that all documentation is accurate and complete.
Government Liaison: Consultants facilitate communication and follow-ups with the RAK authority and other government departments throughout the offshore company registration process. They act as intermediaries to address any queries or concerns promptly, streamlining the entire setup process.
Hassle-Free Setup: Partnering with professional consultants like KWS Middle East ensures a hassle-free, reliable, and cost-efficient offshore company formation experience in RAK. Consultants guide you through every step of the setup process, providing support and guidance at every stage.
By leveraging the expertise of business consultants, you can navigate the complexities of offshore company setup in Ras Al Khaimah with confidence, knowing that your business interests are in capable hands.
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