RAK Offshore
Company Formation
Ras Al Khaimah (RAK) is an ideal location for an off-shore company setup. Ras Al Khaimah is an authentic Arabian destination having luxurious accommodations and a comfortable place for business setup. RAK is a safer and cost-effective option for forming an offshore business when compared to Dubai and Fujairah. With a RAK offshore company formation, just one shareholder has to be present in person. The establishment of a RAK offshore company assures a business owner’s financial secrecy and protection. For UAE investors, RAK offshore offers the quickest route to making offshore investments.
One of the regulatory bodies is the Ras Al Khaimah Investment Authority (RAKIA), which oversees and regulates RAK-based offshore firms. Setting up an Offshore Company in RAK is very easy. Most Global investors and entrepreneurs prefer to set up an offshore company to avail a great list of benefits.
Benefits of RAK Offshore Company Formation
An Offshore Company is not a free zone company but a legal corporate set up in Dubai. Some of the benefits of RAK offshore company formation are as follows:
- 100% Foreign Ownership
- Stable and business-friendly legal system
- Global funding availability
- There are protection mechanisms for assets
- RAK allows retention of capital, profits, and international earnings
- Flexible rules and regulations
- Multiple bank account facility
- Requires only one director, shareholder, and secretary (they can be the same person)
- No restriction on citizenship and no residency limitation
- Physical office is not required
- No foreign currency restrictions
- High-level security and confidentiality
Business Activities Allowed in RAK Offshore
- General Trading
- Holding Company
- Investment and joint Investment
- Commission agent companies
- Consulting and advisory company
- Professional Services
To register an offshore company in RAK, the following paperwork and applications are required:
- A copy of your passport
- Reference letter from bank to Offshore Authority RAK
- Evidence of residencies, such as a utility bill or certificate from the township
- The primary stockholder’s CV, or curriculum vitae, may be found here:
- The company’s most recent six-month bank statement
- Attested business license or incorporation certificate with the application
- Attested MOAA
- Power of Attorney and Board of Resolution
- Passport copies of each director’s and shareholder’s
- In addition to a Certificate of Incorporation, the firm must also have a Certificate of Good Standing.
- Certificate of Existence
- Certificate of incumbency
- Business license copy
- It should have a minimum of one shareholder
- At least one director of the company
- A minimum capital of AED 1000
- Confidentiality maintenance
- It should have a company name approved by RAK Freezone Authority
- Bank certificate confirming the deposit amount of share capital
Contact with us for
Any Advice
Call Anytime
+971 56 437 8853
Email Us
info@boomingbytes.com
Why Booming Bytes?
Booming Bytes Business consultancy is a team of professional business setup consultants who can help you with all the business setup services for your dream business in UAE. We provide high-quality services like product registration, trademark registration, pro services, local sponsors, company liquidation, etc., together with company formation in UAE. If you are planning for RAK Offshore company formation, we can help you with all the legal procedures to start your company. Contact us for more information.