Ras Al Khaimah Offshore Company Formation
Situated adjacent with the south eastern tip of the Arabian Peninsula the Ras Al Khaimah (RAK)is a constitutional federation of seven emirates and is a perfect location for an offshore company formation. Ras Al Khaimah is an authentic Arabian destination having one among the foremost luxurious accommodations and cozy spots for starting a business. RAK offshore company formation may be a secure and cost-efficient proposition; the establishment cost here is significantly lower compared to Dubai or Fujairah. Every offshore company within the UAE gets benefits like tax exemption, total foreign ownership, etc. RAK offshore companies allow a corporation to possess one shareholder whose physical presence isn’t mandatory
Investors get full banking security and privacy in the RAK offshore company formation. RAK offshore is that the fastest thanks to investing in offshore companies within the UAE. Ras Al Khaimah Investment Authority (RAKIA) is that the administration and RAK offshore companies are regulated under the RAK Offshore Regulations 2006.
Advantages of RAK Offshore Company Formation
An offshore company within the UAE shouldn’t be mistaken with a UAE free port company. An offshore company may be a legal corporate body that’s found out and operated outside of its registered authority. the most reasons why entrepreneurs choose RAK offshore company formation are:
- RAK may be a gateway to the international market
- RAK features a stable and business-friendly system
- There is the supply of worldwide funding
- There is a provision of protection tools for assets like property
- Profits and international earnings RAK allow retention of capital
- Offshore companies in RAK enjoy total tax exemption
- The rules and regulations for a RAK offshore company are flexible companies have the liberty to carry shares during a free port company also as in an onshore (LLC) company
- Companies can have multiple bank accounts in several currencies to hold out their international business operations
- Incorporation of a RAK offshore company requires just 1 director, shareholder, and secretary (they are often an equivalent person)
- There is no restriction on citizenship and no residency limitation
- RAK offshore company guaranteed the highest level of privacy and confidentiality for businessmen.
Documents Required for RAK Offshore Company Formation
- Your passport copies (notarized)
- To address the RAK Offshore Authority you need a bank reference letter
- Residency proof, sort of a utility bill or municipality certificate
- You need to provide a CV of all the shareholder in the offshore company
- Bank statement of last 6 months of the corporate
- Applicant company’s photocopy of business license or incorporation certificate (attested)
- Memorandum of Association (attested)
- Shareholder’s resolution (attested)
- Passport copies of all the administrators and therefore the shareholders
- Certificate of excellent Standing also referred to as Certificate of Existence of the corporate
- Incumbency certificate of the corporate (mentioning the names of the shareholders and directors)
- Additional documents could also be requested by the authorities during the registration process
*Note: If the corporate is owned by another company, the documents mentioned above are required up to the last stage to urge to understand the initial beneficiary owner.
Steps Involved in RAK Company Formation
If all the documental requirements are met, then it always takes 1 day to register your RAK offshore company. Here may be a step by step procedure for registration:
- To start with, you ought to get approval for the corporate name and business activities.
- Sign all the incorporation documents and submit an equivalent to the Registrar in RAKIA, the regulatory body of RAK offshore.
- Pay the registration fees and other incorporation expenses. The payment is often made online, via cash or through money transfer.
- Your business is prepared now. You’d got to create your corporate checking account, then you’ll start with the operations.
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