RAK offshore corporations, UAE (RAK, Dubai) tax exempt companies
Ras al Khaimah (RAK) is an Emirate in the Persian Gulf. It forms part of the United Arab Emirates (UAE) â a federation of seven emirates. The other emirates are: Abu Dhabi, Ajman, Dubai, Fujairah, Sharjah, and Umm al-Quwain.
Ras al Khaimah allows foreign ownership of an offshore company. For this reason, no UAE national as shareholder or sponsor is necessary. Offshore companies in Ras al Khaimah are exempt from all corporate and income taxes.
RAK offshore companies in the United Arab Emirates are that the state is white-listed, sovereign and an international platform for trading, consulting and commerce.
Key features of RAK offshore companies:
- RAK Offshore IBC doesnât pay taxes on profit and capital gains, No value-added tax, No withholding tax.
- RAK Offshore IBC must maintain a local registered agent approved by the local authorities and a local registered office.
- RAK Offshore International Business Companies (IBC) must use the suffix Limited or Ltd. to denote limited liability.
- RAK Offshore IBC can have minimum one shareholder and a maximum limit of 15 sharehodelrs. 100% foreign ownership of the company is allowed. There is no public register of shareholders. Shareholders donât need to visit RAK to sign the incorporation documents.
- Minimum capital is not required for the incorporation of an offshore company. But it has to be mentioned on the MOA.
- Bearer shares are not allowed.
- AE Dirham and US Dollar can be used as the denomination for the capital.
- A minimum of one director and one secretary are required and they can be bodies corporate. The director can also be a secretary. A register of directors must be held at the registered office, but it is not a matter of public record.
- RAK offshore IBC must have a common seal.
If you have questions about offshore services and companies in RAK, do not hesitate to Contact us.