Do You Want To Start A RAK Offshore Company?
The RAK Offshore company is by far the most popular set-up for international entrepreneurs in the UAE.
It is the easiest, fastest and cheapest way to start your business in Dubai, or the rest of the UAE for that matter. In addition, there are no annual audits or extensive reporting requirements and low maintenance costs.
RAK Offshore companies have a lot of very interesting features from which you can highly benefit. And a number of benefits you don't find in other offshore jurisdictions in the world.
The RAK Offshore company is ideal for any type of business that does not require a local office, including passive investment activities. Examples of activities our clients use a RAK Offshore for:
Holding shares in international, local or free zone companies
Trading activities outside the UAE
Holding intellectual property
RAK Offshore companies have the following benefits:
0% Corporation tax, 0% VAT and no income tax
No requirement for the owner or director to visit the UAE in person
100% full foreign ownership
Confidentiality is preserved; there is no public record of shareholders or directors
No audit requirement or requirement to submit financial statements
Possibility to open a solid bank account in Dubai
A registered office in Dubai (through Freemont Group)
Just like local and free zone companies, these offshore companies can benefit from some of the tax treaties concluded by the UAE. Using a RAK Offshore Company as a shareholder of a free zone company can prevent otherwise significant legalization charges.
Unlike some other jurisdiction, the UAE has no public registry of directors and members and strong client confidentiality rules.
RAK IC’s cannot rent office space. Nor can they apply for staff visas. They are also not allowed to import goods into the UAE. RAK Offshore companies can only be incorporated through a licensed registered agent such as Freemont.
However, when you set up your RAKIC/ RAK offshore company with Freemont you will have your registered office in the heart of Dubai. This means that on your invoices you'll use a registered office address in Dubai. For the outside world, you have a business located in Dubai
Using a RAK Offshore Company gives your business a much better image than a far away exotic island. And it is not just appearances. For example, there are more countries where you can open your bank account.
The Company Registry that offers RAK Offshore company registrations is the RAK ICC. This stands for Ras Al Khaimah International Corporate Centre. RAK ICC is a merger of the registries of RAK Free Trade Zone and Ras Al Khaimah Investment Authority.
RAK ICC aims to be the most modern registry in the world. It has fully updated its regulations in 2016 and is on level with global regulatory standards.
Why use Freemont Group?
Let us explain how Freemont group can help you set up your RAK offshore company in the UAE. We are a European managed company that has been setting up UAE companies since 2006.
We know the right persons in the authorities and we have set up hundreds of companies in the UAE. So you will experience setting up your business the most cost effective and time efficient manner. That makes us unique in the UAE
In case you need a bank account we have a number of good relationships with the UAE banks and can provide bank introductions.
So you have an idea what the best solution for you is when you want to set up your business in the UAE. In any case, it is best to talk to one of our experts who can instantly tell you the best solution for your business.
for a Free Consultation on your personal situation.