RAK Offshore

“Offshore Company Formation in RAK”

Type of License: IBC or Limited Liability

+Clarification

  • Free Zone Offshore Companies Regulations 2003, allows the formation of an offshore Company by individuals or corporate bodies, as a non-resident company, having a corporate legal entity. A Client can set up an offshore company through one of the approved Registered Agent.
  • 100% foreign ownership, 0% personal and corporate taxation, no filing requirements, full repatriation of profits and capital. RAK Offshore can maintain bank accounts in Dubai and own real estate assets and intellectual property in UAE.
  • RAK Offshore Company is an International Business Company just like British Virgin Islands IBC, Caymen Island etc. No trade can be done within UAE. No Visa. No Office. Bank account can be opened.

+Permitted Activities

  • Professional Contact with legal consultants, lawyers, accountants and auditors
  • To hold shareholders and Directors meetings in the UAE
  • International Business and trade of shares, stocks, Options, etc…
  • To hold lease of property for use as registered office or own real property in any real property approved by authority.
  • To hold an account in a Bank in the UAE for the purpose of conducting its routine operational transactions.
  • To become shareholders of Free zone & Limited Liability Companies.

+RAK Offshore Information

  • Name of the company: RAK offshore companies must use the suffix Limited or Ltd. to denote limited liability. The following words and their associated activities are prohibited: Banking, Insurance and Re-insurance.
  • Shareholders: RAK offshore company can have minimum one and a maximum of 50 persons whose liability is limited to their shares in the company’s capital. 100% foreign ownership of the company is allowed. There is no public register of shareholders and directors. Shareholders need to visit JRAK and sign the incorporation documents in the presence of the authorized official of RAK. Alternatively a power of attorney notarized and legalized by UAE Embassy, can be issued to a nominated person who can then sign before RAK authorized official.
  • The minimum share capital: RAK offshore company can select its own minimum capital. Usually we recommend share capital to be US Dollars 1,000. All shares must be fully paid when allotted. A company may not create different classes of shares. Bearer shares cannot be issued. Presently, joint shareholding is not allowed.
  • Directors of the company and secretary: A minimum of two directors and one secretary are required and they cannot be bodies corporate. One of the directors can also be a secretary. A register of directors must be held at the Registered Office, but it is not a matter of public record.
  • Registered office and local agent: RAK offshore company must maintain a local Registered Agent approved by the local authorities and a local Registered Office, which is usually provided by the Registered Agent.
  • Taxation: RAK offshore companies pay no taxes on profit, capital gains or anything else in RAK.
  • Audit and financial returns: No annual reports or accounts need to be filed. Accounts must be audited and accounts must be distributed to shareholders (but NOT filed with the authorities). RAK offshore company may retain their accounting records wherever in the world the directors deem appropriate.
  • Meetings: RAK offshore company meetings need not be held in RAK.

PACKAGE FOR RAK OFFSHORE 14,500 AED

+INCLUDED IN THIS PACKAGE

Incorporation in 7 Days
Registered Agent
Registered Office Address
Share Certificates
Mem& Articles of Association
Company Seal
Multi-currency account
International delivery FedEx or DHL
Hard Copy Documents

+Documents

  1. Passport copy – valid for at least 6 months
  2. Colored photograph
  3. 3 Names of your choice.
  4. Applicants Personal Profile (CV)
  5. Bank Reference from anywhere in world ( Template can be provided)
  6. Proof of residence (recent Utility Bill like Electricity Bill or Telephone Bill in the name of applicant)

+Licensing Services

  • Submit application to the Registrar
  • Company Formation
  • Attestation of Memorandum & Articles of Association prepared as per the regulation.
  • Offshore Bank Account
  • License renewal
  • License cancellation
  • Transfer of ownership / relinquishment
  • Add partner
  • Remove partner
  • Change of company name
  • Change of company activity
  • Change license information
  • Change partner
  • Change manager
  • Change signature
  • Letters to banks
  • Letters to embassies / consulates
  • Share certificate
  • Share certificate

  • For all Registration, investors need to provide 3 names