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RAK Offshore
More or less a new offshore jurisdiction but RAK Offshore companies are flexible IBCs that can serve many objectives; trading operations, asset protection, tax planning, real estate holding, trusts, funds etc…
RAK Offshore - Features and regulations
- The capital of the company can be any amount divided into any denomination
- The minimum number of shareholder and director is one
- All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. There is no requirement to deposit the capital in bank
- 100% foreign ownership permitted and 100% tax and duty exemption
- Opening corporate bank account in a bank at Dubai, UAE
- A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by RAK freezone. We are an approved registered agent with RAKIA
- The Offshore domicile is located in the RAK freezone
- The investors need not visit the authority to incorporate the company
- Audited financials will be requested only in case of suspicion
RAK Offshore Limitations
- Company cannot 'rent' local premises
- Company cannot carry on the activities like banking, insurance etc.
| Time required | 1-2 working days (approx.) on completion of documentation |
| Shareholders' visit to the Authority | Not Required |
| Minimum no. of shareholders | 1 |
| Minimum no. of directors | 1 |
| UAE resident secretary* | Required |
| Minimum capital requirements | The capital of the Company can be any amount and in any denomination |
| Deposit capital in the Bank | Not required |
| Name suffix | Ltd. (eg: Abc Holding Ltd.) |
| Repatriation of profit | Possible |
| Documents required (Individual shareholding) |
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Please contact a Commit executive for more details
