RAK ICC Offshore

RAK International Corporate Centre is responsible for the registration and incorporation of International Business Companies or offshore companies as well as providing a full suite of Registry services related to International Business Company activity. RAK International Corporate Centre or Ras Al Khaimah Offshore company jurisdiction is a modern, world class Company Registry operating in full compliance with international standards and best practices in the International Business Company formation industry.

Benefits of Setting up of Offshore Company in RAKICC – RAK Offshore Company

• RAK offshore company allows 100% ownership and zero taxes
• RAK offshore company can own shares in local company , free zones company and abroad companies
• RAK offshore company are eligible to own real estate properties in UAE and other countries (subject to the approval authority)
• RAK offshore company is eligible to open multicurrency bank account in Dubai and internationally.
• RAK offshore company is permitted to conduct registered business anywhere outside UAE
• RAK offshore Company can conduct business without having a physical office.
• In RAK offshore company all activities are allowed except financial activities like banking and insurance.
• RAK offshore Company does not have any restrictions on remittance of profits and capital
• In RAK offshore Company there is no requirement to deposit the capital amount in the bank
• In RAK offshore single shareholding structure can be possible
• In RAKICC offshore company requirement of submission of yearly audit financials are not mandatory
• Yatch ,ship and aircraft ownership are permitted in RAK offshore company (Subject to the approval of authority)
• Asset protection and copy right and trademark ownership is permitted under RAK offshore Company
• RAK offshore company can be fully , partially owned by individual and corporates

Restrictions of RAKICC Offshore Company

• RAK offshore Company are not allowed to rent physical office space in UAE
• RAK offshore companies are not eligible to issue UAE residence visa
• RAK offshore have restrictions to do Business with UAE
• RAK offshore company is not eligible to attain Tax Residence Certificate (TRC) in UAE

Documents required for setting up of RAKICC offshore company by Individual Shareholder

• • Passport copies of shareholders/directors & Secretary (Please confirm whether the passport has 3 months validity. If the shareholder/director & manager are not resident in Dubai copy of the visa entry stamp on the passport and the visit visa are needed OR notarized passport copy from country of origin required)
  • Original latest Utility Bill of Shareholder/Director/Secretary
  • Original bank reference Letter of Shareholder/Director/Secretary
  • CV of Shareholder/Director/Secretary
  • Few names for the proposed Offshore company

Note: Shareholders, director and secretary can be same person

Documents required for setting up of RAKICC offshore company by Corporate Shareholder

• • Passport copies of representative/ directors /Secretary (Please confirm whether the passport has 3-month validity. If the shareholders/directors /Secretary are not resident in Dubai, copy of the visa entry stamp on the passport / they are needed e visit visa OR notarized passport from public notary from country of origin.
  • Notarized and attested board resolution from the shareholding company
  • Notarized and attested power of attorney from the shareholding company
  • Notarized and attested Certificate of Incorporation of shareholding company
  • Notarized and attested Certificate of good standing of shareholding company
  • Notarized and attested MOA & AOA of shareholding company
  • CV of legal representative/ directors /Secretary
  • Bank reference letter from shareholding company’s banker
  • Bank reference letter of legal representatives /directors/secretary of prop

osed RAKICC company

• Proof of address of shareholding company
• Proof of address of representative/ directors /Secretary