Offshore relates to managing, registering, conducting, or operating in a foreign country, often with financial, legal and tax benefits. Offshore Company is then a company incorporated for the purpose of operating outside the country of its registration and/or the place of residence of its directors, shareholders and beneficial owners. Again, this is typically pursued to realize various financial, legal or tax benefits.
RAKIA Offshore was set up by the Ras Al Khaimah Investment Authority (RAKIA), to address the worldwide interest for a sheltered, secure and discrete jurisdiction for the consolidation of International Business Companies (IBCs), while raising the profile of the Emirate of Ras Al Khaimah as a head destination for venture.
RAK Offshore offers firms and individuals a wide variety of services and structures that are committed to non-residents. Some of the main businesses of many international firms that are registered with RAK Offshore are related to real estate and property investments. RAK has been able to create effective infrastructure projects and polices that are able to provide international firms the best environment for their offshore companies. Another important feature of RAKIA Offshore is that it offers complete security and privacy through a closed book register; proprietors of IBCs are kept secret, guaranteeing a profoundly beneficial business environment for both individual and corporate investors.
Leading Business Setup Consultants such as Peninsula Business Solutions (PBS) can assist you with getting a RAK offshore company in UAE and also help you open a company bank account in the UAE with your RAK offshore company.
Major benefits of RAK Offshore:
- 100% tax free in UAE
- 100% expat ownership
- No UAE national sponsor required
- No NOC (no objection certificate) is required in case of employment in the UAE or other GCC states
- Minimum capital of the company is 10,000 AED with 10,000 shares of each 1 AED value
- An individual can set up a RAKIA Offshore Company as a sole shareholder, director and secretary of the company
- Proximity to entire Gulf and global market
Other added benefits:
- Can be registered remotely (JAFZA Offshore requires presence of minimum. 2 directors).
- No physical presence is required in UAE
- Quick company registration, usually within two working days once all documents are provided
- Open a corporate bank account in the UAE in a variety of major foreign currencies.
- No annual audit is required
- Simple and efficient recruitment procedures.
- A high level of administrative support.
- The easiest way to make an international trade business