Ras Al Khaimah Investment Authority – International Business Company

Ras Al Khaimah is a fast developing city and emirate, situated against the backdrop of the Al Hajar Mountain Range, in the north of the UAE.

In 2006, Ras Al Khaimah Investment Authority launched an offshore facility, by passing of Ras Al Khaimah Investment Authority’s International Business Companies

Regulations 2006 – also called RAK Offshore. and Universal Consultants JLT is a authorized registered agent for RAK Offshore.

Characteristics of an offshore company registered in the RAKIA are as follows:

  • Taxes:
    RAKIA Offshore pays no taxes in UAE.
  • Shareholders:
    Minimum of one shareholder is required. Corporate shareholders are
    permitted.
    Shareholders will decide capital structure of the company, can also
    have different classes of shares. Bearer shares are not permitted.
  • Directors:
    A minimum of one director is required and corporate directors are
    permitted.
  • Secretary:
    Every company must have a secretary. Director can be a secretary as
    well.
  • Annual Reporting:
    Every company must keep accounting records. Accounts must be approved
    by the directors and signed by one of them. The accounts do not need
    to be filed with RAKIA Offshore Authority.
  • Timescale:
    Registration of the RAKIA Offshore will take 2-3 days.
  • Restrictions on Name & Activity:
    Names must end with Limited or Incorporated. The following words, and
    their associated activities, cannot be used: Assurance, Bank, Building
    Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial,
    Insurance, Municipal, Mutual Fund, Royal and Trust.
  • Local Requirements:
    Company must appoint an approved registered agent. A registered
    agent’s office in the UAE or in the RAKIA Free Zone can also be used
    as the registered office.

REQUIRED DOCUMENTS

The following documents are required for formation of the offshore company:

For individuals:

  • C.V. (personal profile) of shareholders and directors
  • Passport copy of shareholders and directors
  • Bank Reference (format enclosed) statement of the shareholder
  • NOC from the employers if the shareholder is employed in the UAE.

For Companies:

If the shareholder is a non-individual, following documents of that company are required which are to be notarised and attested as below.

  • Certificate of incorporation
  • Memorandum & Articles of Association
  • Board Resolution for investment in the offshore co. and appointing a legal representative to act and sign on behalf of the company.
how can we help you?

Contact us at the Universal Consultants office nearest to you or submit a business inquiry online now.

Free Zone Company in The UAE For Only AED 11,900

  • Trading License
  • Bank Account
  • 2 Visas
  • P.O. Box
  • 100% Ownership
  • 0% Taxes

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