RAK ICC Offshore

RAK ICC Offshore

RAK International Corporate Centre (RAKICC) is a corporate registry operating in Ras Al Khaimah, United Arab Emirates. After the consolidation of two company registries in Ras Al Khaimah namely RAK International Companies (formerly a part of RAK Free Trade Zone) and RAK Offshore (formerly a part of RAK Investment Authority) now named as RAK International Corporate Centre.  RAK International Corporate Centre (RAKICC) is an offshore jurisdiction formed as per the Decree No.12 of 2015 and as amended by Decree No.4 of 2016.

RAK International Corporate Centre is responsible for the registration and incorporation of International Business Companies or offshore companies as well as providing a full suite of Registry services related to International Business Company activity. RAK International Corporate Centre or Ras Al Khaimah Offshore company jurisdiction is a modern, world class Company Registry operating in full compliance with international standards and best practices in the International Business Company formation industry.

Benefits of Setting up of Offshore Company in RAKICC – RAK Offshore Company

  • RAK offshore company allows 100% ownership and zero taxes
  • RAK offshore company can own shares in local company , free zones company and abroad companies
  • RAK offshore company are eligible to own real estate properties in UAE and other countries (subject to the approval authority)
  • RAK offshore company is eligible to open multicurrency bank account in Dubai and internationally.
  • RAK offshore company is permitted to conduct registered business anywhere outside UAE
  • RAK offshore Company can conduct business without having a physical office.
  • In RAK offshore company all activities are allowed except financial activities like banking and insurance.
  • RAK offshore Company does not have any  restrictions on  remittance of profits and capital
  • In RAK offshore Company there is no requirement to deposit the capital amount in the bank
  • In RAK offshore single shareholding structure can be possible
  • In RAKICC offshore company requirement of submission of yearly audit financials are not mandatory
  • Yatch ,ship and aircraft ownership are permitted in RAK offshore company (Subject to the approval of authority)
  • Asset protection and copy right and trademark ownership is permitted under RAK offshore Company
  • RAK offshore company can be fully , partially owned by individual and corporates

Limitations of RAKICC Offshore Company

  • RAK offshore Company are not allowed to rent physical office space in UAE
  • RAK offshore companies are not eligible to issue UAE residence visa
  • RAK offshore have restrictions to do Business with UAE
  • RAK offshore company is not eligible to attain Tax Residence Certificate (TRC) in UAE

 

Documents required for setting up of RAKICC offshore company by Individual Shareholder

  • Passport copies of shareholders/directors & Secretary (Please confirm whether the passport has 3 months validity. If the shareholder/director & manager are not resident in Dubai copy of the visa entry stamp on the passport and the visit visa are needed OR notarized passport copy from country of origin required)
  • Original latest Utility Bill of Shareholder/Director/Secretary
  • Original bank reference Letter of Shareholder/Director/Secretary
  • CV of Shareholder/Director/Secretary
  • Few names for the proposed Offshore company

Note: Shareholders, director and secretary can be same person

 

Documents required for setting up of RAKICC offshore company by Individual Shareholder

  • Passport copies of representative/ directors /Secretary (Please confirm whether the passport has 3 month validity. If the shareholders/directors /Secretary are not resident in Dubai, copy of the visa entry stamp on the passport / they are needed e visit visa OR notarized passport from public notary from country of origin.
  • Notarized and attested board resolution from the shareholding company
  • Notarized and attested power of attorney from the shareholding company
  • Notarized and attested Certificate of Incorporation of shareholding company
  • Notarized and attested Certificate of good standing  of shareholding company
  • Notarized and attested MOA & AOA of shareholding company
  • CV of legal representative/ directors /Secretary
  • Bank reference letter from shareholding company’s banker
  • Bank reference letter of legal representatives /directors/secretary of proposed RAKICC company
  • Proof of address of shareholding company
  • Proof of address of representative/ directors /Secretary

Note: All the legal documents from Shareholding Company must be notarized and legalized from UAE embassy from the country of origin.

NEX scope of work and offers for offshore company in RAK – UAE

NEX Consultants will work with you to handle your offshore company formation from start to finish. We give strategic inputs, help you evaluate and select the offshore jurisdiction work with you on your business plan, handle paperwork and   documentation formalities. Our scope of works and offers involves;

  • Taking the activity and trade name approval from the RAKICC offshore company authority
  • Drafting and vetting of offshore company legal documents
  • Handling and execution of documents in RAKICC
  • Liaison with  the RAKICC offshore company authority
  • Making payment and obtaining the legal documents
  • Preparation of share certificate and share register
  • Providing Dubai P.O Box and Dubai registered office address
  • Introduction of bankers for opening multicurrency bank account in Dubai for offshore company

In short, we Nex Consultants handle everything you need. We handle the entire process for you, so you’re free to concentrate on the bigger picture – your business.

For More Details and/or a FREE Phone Consultation with a company Incorporation consultant please fill out the Contact us form, Email or  Call us TODAY!

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