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Company Formation in Ras Al Khaimah Offshore

In the UAE, an offshore company is a legal entity established outside the mainland or free zones, for international business. It is registered in jurisdictions such as Jebel Ali, Ras Al Khaimah, or Ajman. Offshore companies are used to manage assets and carry out business activities globally. Company formation in Ras Al Khaimah Offshore is a preferred choice for entrepreneurs seeking growth opportunities in a tax-efficient and investor-friendly environment.

RAK Offshore is a significant location in the UAE specifically planned for forming international businesses. Administered by RAK ICC, it provides a simple and effective method for establishing businesses.RAK Offshore supports different types of businesses, like limited liability and holding companies, making it flexible for entrepreneurs and investors. The setup process is straightforward, requiring minimal paperwork, and allowing complete foreign ownership. RAK Offshore is a favored option for companies seeking growth in the area due to its strategic location and up-to-date infrastructure.

Ras Al Khaimah International Corporate Centre (RAK ICC)

The Ras Al Khaimah International Corporate Centre (RAKICC) is a government body in the United Arab Emirates that assists individuals and businesses in establishing offshore firms. The aim is to offer a simple and effective way to form a company, enabling complete foreign ownership. RAKICC provides a range of company structures, including limited liability and holding firms, with minimal paperwork needed. RAKICC’s investor-friendly policies make it an attractive destination for entrepreneurs seeking company formation services in Ras Al Khaimah Offshore.

Benefits of Company Formation in Ras Al Khaimah Offshore

Quick Setup Process for Businesses
No Need for Local Office or Staff
Complete Foreign Ownership of Companies
No sVAT Obligations
No Import or Export Fees Required
Stable and Trusted Location for Investment
High Privacy and Confidentiality for Owners
Flexible Rules for Company Operations
Affordable Costs for Starting a Business
Fast and Simple Process for Registration

Basic Criteria for Forming a RAK Offshore Company

Local Registered Agent: A registered agent must be appointed to manage the incorporation and ensure compliance.
Minimum Shareholders Needed: At least one shareholder is required, either an individual or a corporate entity.
Eligibility of Shareholders and Directors: No nationality restrictions, allowing global individuals and entities to participate.
Company Name Requirements: The name must end with "Limited" or "Ltd" and be unique within the jurisdiction.
Director Requirements: One director is needed minimum, who can also be a shareholder for easier management.
Documentation Needed for Registration: Required documents include a shareholder's passport, proof of address, and relevant identification.

Types of RAK ICC Companies

Knowing the various kinds of businesses is crucial for individuals wanting to start their own company. Each category has unique characteristics and legal aspects, addressing different requirements and goals. Below are a few typical types of companies you might come across, along with short explanations of their main features.

Limited by Shares
A company where the Shareholders' liability is restricted at the remaining balance on their shares. This is the most common type of company used for businesses looking to trade internationally, hold assets, or engage in investment activities.
Limited by Guarantee
A company where members' liabilities are limited to a pre-agreed amount that they guarantee to contribute in case the company is wound up. Used for non-profit organizations or companies without share capital.
Unlimited Company
A type of company where the liability of members is unlimited, meaning that shareholders are personally responsible for the company’s debts. These are rare and usually used for specific purposes requiring high trust.
Segregated Portfolio Company (SPC)
A company that allows for the creation of separate portfolios, or “cells,” within the company, each with its assets and liabilities. This is ideal for businesses managing distinct lines of operations or assets, such as funds.

Documents Required for Company formation in RAK Offshore

Here is a list of the documents required for your offshore company registration in RAK:

Passport copy
Investor’s curriculum vitae
Copy of shareholder/investor’s passport
Utility bill as verification of address
UAE entry stamp (if available) or UAE visa
Trade name(s) (if preferred)

Allowed Activities in Ras Al Khaimah Offshore

RAK Offshore companies can engage in international business activities such as holding assets, investing, and trading internationally. Limited activities, like owning property in designated free zones, are allowed within the UAE.

RAK Offshore companies are restricted from the following activities within the UAE:

Direct business operations with UAE mainland companies or residents.
Trading or offering services in the UAE local market.
Real estate trading or property development (except in designated free zones).
Banking, insurance, or financial services without special UAE licenses.

Their focus is on international operations, with limited allowances for certain activities within the UAE.

Step-by-Step Process for Company formation in RAK Offshore

1. Choose a Company Name and Select Business Activities

Choose a unique company name that complies with RAK ICC's naming rules (e.g., avoiding restricted terms like "bank" or "insurance").
Select your business activities, such as holding investments, trading, or consulting, remember that offshore companies cannot do business within the UAE.

2. Reach Out to a Registered Agent

RAK Offshore companies must be set up through an approved Registered Agent, an agent licensed by RAK ICC
The agent will help guide you through the formation process, ensure compliance, and submit your documents.

3. Submit Required Documentation

Provide the necessary documents, which usually include:
- Passport copies of shareholders and directors.
- Proof of address (utility bills, etc.).
- Memorandum and Articles of Association(A business plan outlining company activities.)
- Any other documents requested by the agent or RAK ICC.

4. Fee Payment

Pay the registration fees and other setup costs. You can pay online, in cash, or through a bank transfer.

5. Bank Account Opening

Once your company is registered and approved, RAK ICC will issue the Certificate of Incorporation, officially establishing your company, and you can open a corporate bank account.
The Registered Agent usually helps by referring you to local or international banks that support offshore companies.
You may need to submit company documents, shareholders’ passports, and financial details to the bank.

Following these simple steps, you can establish your RAK Offshore company for international business purposes.