offshore company formation in Ras Al Khaimah

RAK Offshore Company Formation

Ras Al Khaimah (RAK) offers a unique gateway for international businesses seeking to establish an offshore presence in the UAE. Known for its investor-friendly policies, RAK provides opportunities for entrepreneurs to enjoy tax exemptions, robust privacy, and easy company registration. Offshore companies in RAK are distinct from Free Trade Zone (FTZ) companies, focusing on international trade or asset holding without operational obligations within the UAE.

In 2024, RAK remains a preferred choice for offshore company formation due to advancements in infrastructure, seamless digital processes, and the supportive legal framework offered by the RAK International Corporate Centre (RAK ICC). TFZ.ae, with more than seven years of experience, has empowered businesses through personalized company setup services, helping clients navigate RAK’s ecosystem efficiently. Their expertise extends beyond company registration, supporting businesses with exhibitions and legal compliance.

 

Read RAK’s Government business policies. 

Benefits of Offshore Company Formation with TFZ.ae

  1. 100% Foreign Ownership
    RAK offshore companies allow complete ownership without requiring a local partner, granting global investors full control. This makes it easier for business owners to implement their strategies without external interference.
  2. Attractive Tax Benefits
  • Zero Corporate Income Tax: Offshore companies are exempt from UAE income tax.
  • Double Taxation Treaties: Access to agreements with over 130 countries.
  • VAT-Free Operations: Offshore companies avoid VAT registration, minimizing operating costs.
  1. Privacy and Confidentiality
    RAK offshore laws prioritize protecting the identities of shareholders and directors, offering unmatched privacy compared to many other jurisdictions.
  2. Cost-Effective Business Structure
  • No paid-up capital requirements.
  • No need for annual audits or financial statements.
  • Low annual maintenance costs and administrative fees.
  1. Profit Repatriation & Multi-Currency Accounts
    RAK companies have the freedom to repatriate profits fully, and TFZ.ae provides support in setting up multi-currency bank accounts.
  2. Asset Protection Opportunities
    An offshore company in RAK can hold real estate, intellectual property, or other investments while enjoying asset protection laws.
  3. Minimal Administrative Burden
    No need for physical office space or local employees, reducing operational complexity.

 

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Key Features of RAK Offshore Companies in 2024

  • Fast Registration: Companies can be registered within 2-5 working days.
  • Customizable Service Packages: TFZ.ae offers three tiers (Basic, Standard, and Premium) tailored to specific business needs.
  • No Local Employees Required: Offshore companies can operate remotely, minimizing operational costs.
  • Digital KYC Process: TFZ.ae offers digitized compliance solutions, including e-signature services.
  • Corporate Governance Requirements: Transparent governance structures with shareholder and director appointments.
  • Compliance with ESR and UBO: Offshore companies must declare Ultimate Beneficial Owners and adhere to UAE’s Economic Substance Regulation (ESR).

Detailed Company Formation Process with TFZ.ae

  1. Package Selection: Choose between the Basic, Standard, or Premium package according to your needs.
  2. Order Placement & Payment: TFZ.ae offers multiple payment gateways for secure transactions.
  3. KYC Document Submission: Upload passports, proof of address, and other required documents digitally.
  4. Company Registration Completion: TFZ.ae facilitates the issuance of certificates and legal documents.
  5. Post-Incorporation Support: Assistance with opening multi-currency bank accounts and further services.

Required Documents for RAK Offshore Company Registration

  • Passport Copy of the shareholder(s).
  • Proof of Address (such as a recent utility bill).
  • Investor’s CV for background verification.
  • Trade Name List for approval.
  • Bank Reference Letter (if required).

TFZ.ae offers complete guidance to ensure smooth documentation submission.

 

TFZ.ae Offshore Company Packages (2024)

  1. Basic Package:
    • Standard company setup.
    • Includes registration and certificate issuance.
    • Ideal for those seeking a straightforward process.
  2. Standard Package:
    • Includes bank account setup support.
    • Covers all regulatory compliance needs.
  3. Premium Package:
    • Full-service setup with consulting.
    • Refund guarantee for eligible cases.
    • Tailored services for complex business requirements.

Source

 

TFZ.ae’s Streamlined Company Formation Services

  • Centralized Management Portal: Monitor company formation progress in real-time.
  • 24/7 Customer Support: Dedicated support agents assist you at every step.
  • Digital Setup Process: Minimize paperwork by leveraging TFZ.ae’s online tools.

Comparison: RAK Offshore vs. Free Trade Zone Companies

  • Ownership Flexibility: Offshore companies offer full foreign ownership, while FTZ companies may require local partnerships.
  • Tax Obligations: Offshore companies are exempt from VAT, whereas FTZ entities must comply with VAT regulations.
  • Operational Requirements: Offshore companies do not need physical offices, making them ideal for international operations.

TFZ.ae provides expert advice on choosing the right structure based on your business needs.

Compare UAE business structures.

 

Costs of Offshore Company Formation in RAK

  • Basic Package: AED 12,000.
  • Standard Package: Includes compliance support.
  • Premium Package: Offers consulting services with refund guarantees.

TFZ.ae provides transparent pricing, ensuring no hidden fees.

 

Frequently Asked Questions (FAQs)

  1. What is the timeline for registration?
    Most offshore companies are set up within 2-5 working days.
  2. Are there restrictions on activities?
    Yes, companies in banking or insurance require special licenses.
  3. Can corporate entities be shareholders?
    Yes, offshore companies allow corporate shareholders and directors.
  4. Is residency required for shareholders?
    No, offshore companies do not require shareholders to reside in the UAE.

Governing Laws and Compliance Regulations

  • RAK ICC Regulations: Ensure adherence to business laws in Ras Al Khaimah.
  • Economic Substance Regulation (ESR): Offshore companies must maintain a UBO declaration.
  • Corporate Governance Requirements: Adhere to transparent governance practices.

Source

 

Support Services Provided by TFZ.ae

  • Bank Account Setup Assistance: Comprehensive guidance on documentation.
  • Registered Agent Services: TFZ.ae serves as a liaison with regulatory bodies.
  • Customized Consulting Services: Tailored solutions to fit business goals.

TFZ.ae has built a reputation for delivering seamless company formation services, backed by over seven years of industry experience. Their hassle-free online processes, expert team, and customized packages make them the top choice for offshore business setups. Whether you’re a new entrepreneur or an established investor, TFZ.ae offers transparent, efficient, and customer-focused solutions to help you thrive.

Contact TFZ.ae today for a free consultation on RAK offshore company formation and secure your business’s future!

 

Frequently Asked Questions

The different types of business entities that can form their company in RAK are as follows.

 

  • Limited Liability Company.
  • Joint Venture Company.
  • Public/Private Shareholding Company.
  • International Business Company.
  • Freezone Establishment.
  • General Trading Company.

The steps and procedures required for company formation in Ras Al Khaimah are as follows.

 

  • Choosing Business Activity.
  • Selecting a legal form of business.
  • Jurisdiction finalization.
  • Initial Approval.
  • Trade Name registration.
  • Application Submission.
  • License 
  • Office Renting.

The major industries are tourism, retail, technology and real estate. These industries can get the best conditions to grow in Ras Al Khaimah.

There are several advantages to setting up a company in Ras Al Khaimah.

 

  • Ample Storage Facilities.
  • Access to docks and modern ports.
  • Development Prospects.
  • Access to international markets.
  • Low Rentals.
  • Easy Labour Availability.
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