|KEY CORPORATE FEATURES|
|Approximate time to incorporate||1 day|
|Minimum number of Directors||1|
|Local Director required||No|
|Local Secretary required||No|
|Disclosure of Beneficial Owner requirement||No|
|Accounts Filing Requirement||No|
Ras Al Khaimah
Ras Al Khaimah is becoming one of the most popular offshore company jurisdictions.
It has one of the fastest growing economies in the emirates and is located only 45 minutes from business hub Dubai. Its strategic location gives it access to over 1.5 billion consumers in the Middle East and Africa. It provides an ideal location for international business operations and asset protection schemes.
For a quotation to incorporate in Ras Al Khaimah or for more information about Ras Al Khaimah offshore company formation please click here
Ras al Khaimah is considered by non resident owners to be the most popular of the so called Free Trade Zones in the United Arab Emirates.
There is 100% tax exemption on Income, Corporate tax and capital and profit repatriation.
There is no Capital Gains tax, no Value Added tax and no Withholding tax.
Arabic, Persian, Hindi, and Urdu. English is widely spoken.
Despite the United Arab Emirates’ huge oil reserves, the RAK economy has been growing in other sectors. The reason is that RAK has very little deposits of hydrocarbons compared to some of the other emirates.
Services, tourism, real estate, trade and manufacturing, have all seen growth during the last few years.
Furthermore, RAK has managed to create an ideal business environment with good economic incentives attracting major corporations from around the globe. Its strategic location and upgraded infrastructure have also helped in achieving this objective.
RULES AND REGULATIONS
- Your company must have an office registered in RAK and an RAK agent registered in RAK.
- The minimum number of directors is one. The Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
- 100% foreign ownership
- The minimum number of shareholders is one.
- A secretary is optional, but it is common practice for an officer of the registered agent to be appointed as company secretary.
- Disclosure of beneficial ownership has to be made to the trust company and the bank, but not to the Registrar.
- The minimum requirement for share capital is AED1,000, and must be fully paid up.
- Opening a corporate bank account in a bank at Dubai, UAE is permitted
- The name of the company may end with the word "Limited" or "Ltd"
- There is no obligation to file Accounts or Annual Returns, or Audit requirements
- It takes only one day to incorporate an offshore company (subject to name approval)