Single or multiple directors – physical or corporate
One or many directors – physical or corporate
No paid-up share capital
No requirement for accounting and audit
No citizenship and residency limitations
No currency control
Companies can do business outside of the UAE
Bank accounts in Dubai, UAE and abroad
No time zone restrictions
No limitations on the capital expatriation
Registered address in the UAE – Agent’s address
RAK offshore is the first center in the Middle East that offers International Business Companies (IBC) registration. RAK offshore keeps customers’ safety and confidentiality as the top priority.
UAE in general and RAK in particular is a politically stable place with rapidly-developing economy.
Offshore companies incorporated in RAK are very flexible global instruments that can serve different objectives: trading, asset protection, tax planning, real estate holding, inheritance planning, trusts or funds.
Identity of RAK offshore companies’ shareholders is kept confidential by law.
Companies require minimum capital and just one director and shareholder, who can be the same person.
UAE has Double Taxation Avoidance Agreements (DTAA’s) with several countries, nowadays more than 40.
It’s a jurisdiction where taxes are levied at a low rate or do not apply at all. Different jurisdictions can be havens for varioust types of taxes. Sovereign countries have all the powers to enact any tax rules affecting their territories. International businesses or offshore companies can be incorporated in tax-free jurisdictions to ease the management and to reduce taxes.
Assets can be owned by offshore company instead of an individual. The company can be placed in trust or foundation, for instance.
Offshore companies can have nominee directors. Besides, tax-free jurisdictions such as RAK keep the names of directors and shareholders off public record.
No. RAK offshore companies don’t pay taxes on profit and capital gains. They don’t pay value-added tax or withholding tax.
IBC refers to International Business company, IC – international company. These types of companies can conduct business anywhere apart from the country of incorporation. They are usually formed in tax-free jurisdictions and enjoy all the benefits of these territories.
RAK offshore can have from 1 to 15 shareholders. The liability of each shareholder is limited to his/her share of the company capital. There is no public record of shareholders.
No. It only has to be mentioned in the Memorandum of Association. Bearer Shares are not allowed. Denomination of the capital can be in UAE Dirhams of US Dollars.
RAK offshores are particularly suitable for companies looking for minimizing their overall tax liability, seeking asset protection or in need of establishing an exchange control trading vehicle.