Error-free offshore company setup in RAK ICC with the help of expert business consultants
The United Arab Emirates is one of the most popular business destinations in the world. Entrepreneurs set their sights on the country’s Mainland, Free Zone, and Offshore locations to setup their companies. Offshore businesses have become a prime location for company setup due to the privacy and complete confidentiality that comes with forming a company here.
Ras Al Khaimah International Corporate Center (RAK ICC) is one of the most popular offshore areas. It’s known for being one of the most luxurious locations for businesses. There are several benefits to business here, like full foreign ownership, tax benefits, and easy renewals. And if that wasn’t enough, a RAK Offshore company can be formed quickly, and the process is hassle-free with the help of MSZ Consultants.
Documents Required and RAK Offshore Company Formation Process
It only takes about a day or two to get your RAK Offshore Company registered if you have all the proper documents. Here are the standard steps you’ll have to take to get your company registered:
Get Approval
Get approval for the company name and the business activities.
Submit Documents
Sign and submit the required documents to the Registrar in RAKIA.
Pay Fees
Pay the required registration and incorporation fees.
Open Bank Account
After all the documents are submitted, and the fees are paid, then you will be ready for business. You will want to create a corporate bank account in the UAE before you start operating.
Documents Required
- Copies of the shareholder and directors’ passport
- Recent utility bill to show proof of residence
- Copy of latest entry stamp to UAE
- Three company name options
- Bank reference letter
- Business activity
Entities for Business Setup in RAK ICC
Another important step to company setup in RAK Offshore is choosing the right corporate structure. You should choose your business entity based on your business goals.
Here are the five different entity types to choose from for your RAK ICC Offshore Company:
Company Limited by Shares
With this business type, the shareholders’ liability is limited to the amount of capital that they put into the company.
Company Limited by Guarantee
This company type can be setup to issue shares or to not authorize shares. A guarantee member can also be a shareholder. The guarantors contribute if the company liquidates in place of share capital.
Restricted Purposes Company
This company aims to serve a special purpose.
Segregated Portfolio Company
This is also known as a protected cell company. This entity allows different liabilities and assets to be separated from one another.
Unlimited Company
This company exposes its shareholders or members based on their obligations to the entity.
Corporate Structures for Company Setup in RAK Offshore
RAK Offshore is unique. With this corporation, there are two other business options you can choose to pursue:
The RAK ICC Premium Product
If you are a registered RAK ICC company, then that will be your parent company. You can then establish a Mainland subsidiary. This means you’ll be able to carry out your activities on the Mainland while enjoying the benefits of an offshore company.
Intellectual Property Holding Company (IPHC)
This type of company is a subsidiary, or sister company, of global corporations that are set up to hold the companies’ intellectual property like copyrights, trademarks, etc. This type of company provides protection to your assets and keeps them in one place. This structure allows you to optimize your taxation benefits.
The Advantages of Offshore Company Setup in RAK ICC
- An RAK Offshore company can be 100% foreign-owned
- Shareholder and director can be the same person
- The incorporation process is quick
- Simple renewal process
- An office isn’t required
- No audit requirements
- No taxes
- Easy international operations
- Complete confidentiality
- Asset protection
- Multi-currency bank accounts in UAE
Company Setup in RAK ICC Offshore Made Easy with MSZ Consultancy
Are you ready to start setting up your company in RAK ICC? Well, we are ready to help you with your business journey. Offshore company setup in RAK is known for being a fairly easy process, but a simple mistake with paperwork could put a major problem in your plans. Don’t try to do it on your own, let us help! We have the resources and experience to guide you through the entire business setup procedures to quickly form your RAK Offshore Company.
Don’t wait, call us today at +971 52 544 1248 for a FREE consultation!
WHAT WE DO?
We easily help setup your business in the UAE. We specialize in all forms of company formation in the UAE and provide the financial and legal suggestions that you need.
HOW DO WE HELP?
We have a team of business setup consultants, lawyers, and PRO executives that help with your company setup. We also have a strong relationship with government officials to help connect you with the right people for an easy setup.
WHY CHOOSE US?
We care about our clients. We provide valuable insights to our customers to help them embark on a successful business journey. We don’t just help you setup your company, but also offer you support during the life of your business.
Corporate Services from MSZ Consultancy
At MSZ Consultancy, we offer help with business setup in RAK ICC, but we will also help with other services you need along the way. We consider ourselves a business life-cycle specialist firm. So, we aren’t just here for the startup, we also help with the legal advice, paperwork, and other procedures that may pop while you are running your business.
Here’s what we can do for you at MSZ Consultancy:
Trademark Registration
Let us help you protect your intellectual property. We specialize in trademark registration and can easily help you protect your company that you’ve worked hard to build.
Local Sponsorship
The UAE government has made it mandatory for foreign entrepreneurs to have a local sponsor if they setup a Mainland business. This can be a challenge if you don’t know anyone. But we can help! We have access to trustworthy local sponsors.
PRO Services
MSZ Consultancy’s corporate PRO services can help with the legal procedures, government documents, and other paperwork that is involved in running a business in the UAE.
Bank Account Assistance
It’s important to have a bank account in the UAE for your business. While it’s easy to open an account, each bank has different requirements. Let us help you get your account setup without any issues.
Product Registration
All products manufactured and distributed in the UAE will have to be registered. This includes cosmetics, food, health products, and more. We can quickly help you get everything registered.
Business Centers
If you need an office or building for your business, we can help with that too! We have Business Centers located in strategic locations throughout the UAE to fit your business need
Company Liquidation
Deciding to liquidate your company is a tough decision, but we are here to help you through it. We have a team of legal experts that will guide you through the entire process. We can help you through the name cancellation process, employee payments, and any other related legal requirements. With MSZ Consultancy, you will have an easy exit strategy for your company liquidation.
For furthermore information contact us at +971 52 544 1248 today!
Frequently Asked Questions
1. I live outside the UAE. Can I still set up a RAK ICC company?
Yes, and you’d be in good company! Most of our clients set up remotely. We’ll guide you through every step online and can even send your entire company kit to your home address abroad.
2. Is it really 100% tax-free?
Your RAK ICC company pays zero tax in the UAE. We always recommend a quick chat with a local accountant in your country to ensure you’re meeting any reporting rules back home.
3. Can I open a bank account for my RAK company?
Absolutely. While banks have a detailed process, this is our specialty. We know what they’re looking for and will work alongside you to get your account opened smoothly.
4. What's the real timeline from start to finish?
The official registration is quick, but to get everything- including your bank account- fully ready, plan for a few weeks. We find this is the sweet spot for a seamless, error-free setup.
5. Am I allowed to trade within the UAE with this license?
Not directly with the standard license, but we have a perfect solution. We can easily establish a mainland UAE subsidiary for you, letting you operate both internationally and locally.
6. What ongoing responsibilities will I have?
It’s very straightforward. Your main task is the annual license renewal. While you don’t need to submit audited reports, keeping your own simple records is a good practice. Ready to get started or have another question? We’re here to talk. Call us directly at +971 52 544 1248 for a friendly, no-obligation conversation.
Zubair Sultan Mohammed
CEO - MSZ Corporate Services
Zubair Sultan Mohammed is a seasoned business consultant specializing in company formation and regulatory compliance in the UAE and Saudi Arabia. With over 15 years of experience, he has guided entrepreneurs, SMEs, and multinational firms through the complexities of regional business laws and market entry strategies. His deep understanding of local licensing, taxation, and free zone structures ensures clients make informed, strategic decisions. Zubair Sultan Mohammed regularly contributes insights on corporate setup, investment trends, and regional economic developments.
