Rak Offshore Company Formation

Rak Offshore Company Setup

In order to provide the best environment for the offshore incorporation of companies, RAK has a mix of infrastructure projects and new policies in place. Its Registered Agents provide an exclusive service as they offer complete privacy and confidentiality to the owners of their IBC’s under law. This provides them with a highly conducive business environment for all of its investors (individual and corporate). A regulatory framework to establish a diverse range of funds, including Sharia-compliant investment products will also be provided by the registered agents in the future. Offshore trusts will also be facilitated by RAK Offshore; these will be used to hold offshore companies or other assets under the RAK Offshore Special Corporate Trust Regulations.

RAK Offshores portfolio of services includes a wide range of financial and non-financial services

Some of their non-financial services are facilitating the establishment of IBCs whose activities include:

  • International trading
  • Asset protection
  • Tax planning
  • Real estate holding

rak business setup
Some of the features & regulations to form a RAK Offshore Company are:
  • The capital of the company can be any amount divided into any denomination.
  • The minimum amount of shareholders and directors an Offshore Company can have is one
  • All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in bank.
  • 100% foreign ownership permitted and 100% tax and duty exemption exists on RAK off shore incorporation companies.
  • Offshore companies have the ability to open a corporate bank account in a bank at Dubai.
  • A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by RAK Free Zone.
  • Investors are not obligated to visit the authority to incorporate the company. They are however expected to sign the necessary documents in the registered agent’s office.
  • Audited financials will be requested only in case of suspicion.