The Ras Al Khaimah Investment Authority (RAKIA) established the RAK Offshore to cater to the demand of offshore markets. This will help in increasing the sources of income and growth of the economy.
More than 1900 offshore companies are registered in RAK offshore records. Property investments and real estate are the primary business of offshore companies based in RAK Offshore. The RAKIA has introduced some new policies to ensure a better business environment for the new and traditional investors who are interested in RAK offshore company formation.
Ras Al Khaimah Investment Authority issues registration certificate to the RAK offshore company according to the regulations of the jurisdictions to accommodate diverse businesses.
Why set up a RAK offshore company?
Ras Al Khaimah offers many benefits to business entrepreneurs from around the world. These benefits are very lucrative and every investor likes to cash these business bonuses. Here are some of them in the list below:
- Zero taxation.
- Confidentiality and privacy of the owners are the key responsibility of the authority.
- No audit reports required.
- Minimum share capital not needed
- No restrictions on capital expatriation.
- The registered address of the company and registered agent can be common.
- Modern legislation
- No regional or international barriers to operating the business
- The company does not have to rent an office space.
There are many advantages in registering as an offshore company in RAK. The physical presence of the owner is not needed for company registration. A registered agent should be appointed for RAK offshore company setup, who acts on behalf of the company owner at a certain time. The agent handles the registration process and gives details about the benefits and advantages of the Free Zone.
Activities offered in RAK Offshore
Following are the activities that can be carried out by RAK Offshore Company
- Consultancy services
- International trade
- Stock trading
- Ship registration
- Buying, selling and holding shares of UAE based companies
- Holding real estate properties in the areas specified as per the laws of the jurisdiction
RAK is a cost-effective destination to set up an offshore company. The company formation fee is reasonable as compared to other places.
RAK Offshore Company Registration Process
Here is a step-by-step instruction to complete the registration process:
Step 1 – Submit an application for RAK Offshore Company
Firstly, the investor needs to submit an online application form available at the website choosing RAK Offshore Company.
Step 2 – Company name and MOA
Reserving the company name and Preparing Memorandum and Articles of Association for new company formation
Step 3 – Signing Memorandum and Articles of Association
The Authorities will then call the shareholders/owner to sign the MOA when the authority feels satisfied. The registered agent can also sign the MOA on behalf of the Client after receiving the Power of Attorney.
Step 4 – RAK Offshore Company registration
After the above steps are completed and the documentation is over, the Authorities will then Issue a registration certificate to the offshore company owner or the registered agent.
RAKIA Authorities issue the following documents on completion of the process:
- Certificate of incorporation
- Memorandum of Association and Articles of Association
- Register of shareholders/directors and secretary
Start Activities and Open a Bank Account
The company can start its operations straight away after the registration of the company.
The facility to open RAK offshore company bank account is provided after the company gets registered. The registered agent helps you in opening the bank account.
The RAK offshore company formation does not make you eligible for any residential visas in UAE.
We are there to help our Clients
Every investor willing to start a RAK offshore company should appoint a registered agent that is approved by the concerned authority. PMC Solutions DMCC is one of the approved registered agents who work on behalf of the Client.
PMC Solutions DMCC is well acquainted with the regional knowledge and possesses all the required expertise to guide the client in RAK offshore company registration process. Our team of professionals provides the best feasible course of action to ensure a cost-efficient and hassle-free business set up.
Feel free to contact us, and we surely will take care of the rest of the things regarding Ras Al Khaimah offshore company formation.