RAK Offshore

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RAK International Corporate Centre (RAKICC)

is a Corporate Registry operating in Ras Al Khaimah. The Emirate of Ras Al Khaimah is one of the greatly developed Emirates of the United Arab Emirates and an ideal location for international business.

Ras Al Khaimah is a fast developing city and emirate, situated against the backdrop of the Al Hajar Mountain Range, in the north of the UAE.

In 2006, Ras Al Khaimah Investment Authority launched an offshore facility, by passing of Ras Al Khaimah Investment Authority’s International Business Companies

Regulations 2006 – also called RAK Offshore and Universal Consultants DMCC is a authorized registered agent for RAK Offshore.

Offshore License
Offshore centers are often used for a variety of business purpose ranging from setting up business entities to owning overseas financial and real estate assets, inheritance planning, setting up holding companies and special purpose vehicles, ship registration and tax optimization.

RAKICC Offshore
RAK Offshore offers businesses and individuals a wide range of comprehensive services and structures that are dedicated to non-residents. Physically located in the superb infrastructure of the upcoming RAK Financial City, RAK OFFSHORE will allow a wide variety of international business and financial activities. From the very outset, it was conceived to allow you to unleash your entrepreneurial spirit by making it easier and more cost-effective to start and operate on offshore business.
Besides this, RAK Offshore wants to offer their clients to register their private yacht and pleasure boats in Ras Al Khaimah. By registering yachts and boats with RAK Offshore, there will be lots of financial advantages, low initial registration & annual maintenance fees and easy registration process.

Characteristics of an offshore company registered in the RAKIA are as follows:

Taxes:
RAKIA Offshore pays no taxes in UAE.
Shareholders:
Minimum of one shareholder is required. Corporate shareholders are permitted.
Shareholders will decide capital structure of the company, can also have different classes of shares. Bearer shares are not permitted.
Directors:
A minimum of one director is required and corporate directors are permitted.
Secretary:
Every company must have a secretary. Director can be a secretary as well.
Annual Reporting:
Every company must keep accounting records. Accounts must be approved by the directors and signed by one of them. The accounts do not need to be filed with RAKIA Offshore Authority.
Timescale:
Registration of the RAKIA Offshore will take 2-3 days.
Restrictions on Name & Activity:
Names must end with Limited or Incorporated. The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal and Trust.
Local Requirements:
Company must appoint an approved registered agent. A registered agent’s office in the UAE or in the RAKIA Free Zone can also be used as the registered office.

DOCUMENTS REQUIRED TO OPEN RAKICC OFFSHORE COMPANY
The following documents are required for formation of the offshore company:
For individuals:

C.V. (personal profile) of shareholders and directors
Passport copy of shareholders and directors
Bank Reference (format enclosed) statement of the shareholder
NOC from the employers if the shareholder is employed in the UAE.
Proof of Residence

For Companies: If the shareholder is a non-individual, following documents of that company are required which are to be notarised and attested as below.

Copy of License or CERTIFICATE OF INCORPORATION
Memorandum & Articles of Association
Board Resolution for investment in the offshore co. and appointing a legal representative to act and sign on behalf of the company.
MEMORANDUM OF ASSOCIATION of the parent company
Passport Copy of the Director and the Shareholders of Parent Company
Additional documents may be requested by the Registrar during the registration process

Note: All the above documents shall be Legalised & Attested from UAE Embassy of Country where Parent Company is located (if UAE Embassy is not there, attestation from UAE Embassy in nearby country). It has to be counter attested from Ministry of Foreign Affairs, UAE.

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RAKICC Offshore Company Registration Cost & Features
Document Required Passport Copy, Address Proof, Bank Reference Letter
Deliverables Incorporation Certificate, MOA, Share Certificate

RAK ICC Premium Product
RAK ICC offers a unique ‘Premium Product’ by which investors can incorporate Offshore IBC and this Offshore IBC can own 100% shares in the Freezone Company at RAKEZ. This premium product enables the investors to structure their company and open bank account easily. They are eligible to get Investor Visa under this company.

RAK ICC & DIFC Wills & Probate Registry
By registering Will in the UAE, a non-muslim can make sure that his assets are not subject to Shariah Law. RAK ICC company assets can be distributed by way of Wills registered under “Wills and Probate Registry, DIFC’.

DIFC Will registered through RAK ICC Offers:-

Certainty of Wealth distribution and Guardianship appointments
Transparent Probate distribution

Registered Agent of RAKICC / RAK Offshore
UC DMCC is a reputed registered agent of RAK ICC. RAK Offshore Company can be opened only through agents who have been registered with RAKICC.

WE are the one of the largest incorporators of Offshore companies in UAE. We invite prospective clients to consult with us for making your business bright and successful. For more information, click this link

Related Information
UAE Offshore	Offshore Incorporation Services
Offshore Company	UAE Offshore Laws
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RAK International Corporate Centre (RAKICC)

RAK Offshore

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