Business Setup in Ras Al Khaimah Offshore

Have your company up and running in just days with the help of MSZ Consultancy

Ras Al Khaimah offshore is one of the most popular locations for entrepreneurs who want to do business in the UAE. RAK has luxurious accommodations for business owners, and it is an ideal spot for companies. The Emirate is located just 45 minutes away from Dubai, putting it at a prime location for international business. The RAK offshore business setup is also cost-efficient. It is cheaper to set up a company here compared to Dubai or Ajman. Companies that form on RAK Offshore get to enjoy total tax exemptions, have complete banking security, and absolute privacy.

Form Your Company in RAK Offshore

In order to get your company up and running, you will have to follow all the rules and regulations. If everything runs smoothly, your RAK Offshore Business Setup will be completed in 3 to 4 business days, and can sometimes be as quick as just one day. Registration is quick and simple. Make sure you don’t experience any delays or problems, and hire a consulting firm to help you through the process.

01

Get the approval for the company name and business activities

The first step to RAK Offshore business setup is to decide what type of business activity you will have. Once you figure that out, you will have to get it approved by the proper officials. Each business activity has its own set of rules and regulations to follow.

02

Sign and submit documents

Next, you will have to sign all the required documents and submit them to the Ras Al Khaimah Investment Authority (RAKIA).

03

Pay the necessary fees

Now, you will have to pay the registration fees and other incorporation fees that are due.

04

Your business is ready to start

After you have submitted all the proper paperwork and paid the necessary fees, then it will be time to start your business. You will need to open a bank account in the UAE before getting started.

Documents Required

Bank reference letter
Proof of residence
Passport copies
Bank statement for the last 6 months

Understanding Business in Ras Al Khaimah Offshore

Often times, an Offshore company in UAE is mistaken for a UAE Free Zone company. But, the two are completely different business structures. An Offshore company is a legal corporate body which is set up and operated outside of the area it is registered in. Here are some other things to know about RAK Offshore Business Setup.

  • Legal System – In the UAE, the legal system is based on Civil Law. Ras Al Khaimah follows the same type of overall legal system.
  • Governing Legislation – A Business Setup for RAK Offshore is governed by the International Business Companies Regulations.
  • Company Activities – There is no trading allowed within the UAE for a RAK Offshore company. Other than that, there are no restrictions on the scope of activities that can be carried out.
  • RAK Offshore Business Setup Timeframe – A RAK Offshore Business Setup is usually completed in about 3 to 4 business days.
  • Redomiciliation – A RAK Offshore company cannot operate in another jurisdiction. The same goes for a foreign company. It cannot become registered and continue in RAK.
  • Information held on public record – There is absolute privacy with RAK Offshore Business Setup. No information about the Offshore company will ever be made public.
  • Company Name – There are some requirements about a company name for a RAK Offshore business. First, the name must be something in the English language. Also, the name must have “LLC” after it.
  • Share Capital – The share capital can only be in Dirhams (AED). A minimum share for RAK Offshore Business Setup is AED 10,000.
  • Shareholders – For a Ras Al Khaimah Offshore company, the minimum number of shareholders is one. The shareholder can be a person or a company.
  • Directors – There has to be at least one director appointed to the RAK Offshore company at the time of formation. The same person can be both a sole director and a shareholder.
  • Shareholder and director meetings – There’s no requirement for where meetings for shareholders and directors need to be held. These meetings can take place anywhere in the world or by a conference over the phone. Shareholders aren’t obligated to hold an annual meeting either.
  • Registered Office – RAK Offshore companies are required to keep an office within Ras Al Khaimah. This is where the company’s records are kept.
  • Company Secretary – RAK Offshore companies are required to have a company secretary. This can be a person or a company from anywhere in the world. In some cases, that person can be the company’s sole shareholder, director, and secretary and have all three roles.
  • Financial Statements – A RAK Offshore company isn’t required to be audited; however, the companies are required to prepare annual financial statements.
  • Annual Filing Requirements – RAK Offshore companies don’t have any statutory filing obligations. But the companies are required to pay an annual fee to the Registrar of companies.
  • Taxation – One of the biggest perks to RAK Offshore businesses is that there are no taxes.
  • Double Tax Treaties – RAK Offshore companies do not qualify for any benefits under the double tax treaties.
  • Other Considerations – RAK Offshore companies are completely confidential. All details about the company and its shareholders and directors will not be released. In some cases, an Offshore company is used as a way to hold a bank account in the UAE.
Understanding Business in Ras Al Khaimah Offshore

Why a RAK Offshore Business Setup is Right for You?

  • It is a gateway to the international market
  • RAK offshore has a business-friendly legal system that aims to keep businesses in the UAE
  • Availability of global funding
  • RAK Offshore companies have a complete exemption from taxes
  • The rules and regulations for RAK offshore Business Setup are flexible
  • Companies can have multiple bank accounts in different currencies
  • Confidentiality and complete privacy is guaranteed in RAK Offshore
Get In Touch

Hassle-Free Business Setup in RAK Offshore with MSZ Consultancy

We are experienced consultants with a specialty in setting up businesses in the United Arab Emirates. If you have a dream of doing business in the UAE, we can help that dream become a reality. Let us help you form your company in RAK Offshore. With MSZ Consultancy on your side, we will guide you through all the paperwork, help you understand the laws in UAE, and make sure you get everything turned in on time. Don’t take the chance of letting any roadblocks stand in your way! Let MSZ Consultancy help make your RAK Offshore business setup a smooth and quick process. Start forming your business today with a FREE consultation! Contact us at +971 52 544 1248.

Trademark Registration

Let us help protect your work. We offer trademark registration, renewal, amendments, and protection. We will also work with you on web domain name purchase, renewal, and making sure that your web domain is also trademarked. You worked hard to build your brand, let us work hard to protect it.

Local Sponsorship

If you need help finding a local sponsor, we can do that too! Let us help you find a feasible and reliable sponsor to help you with the UAE laws.

PRO Services

MSZ Consultancy offers Public Relations Officer services that can help guide you through the rules and policies of the UAE. Our PRO services include passport clearance, family visas, annual license renewals, and more

Bank Account Assistance

If you are going to have a RAK Offshore business, then having a bank account is a plus. Each bank will have its own requirements. Let us help get an account quickly set up for you.

Product Registration

Help protect your brand by having your products registered. There are a number of steps required to get your company’s products registered. We can walk you through the process to help protect your label and your brand.

Business Centers

If you are having a hard time coming to the UAE to look for an office for your business, then let us do the work. We offer cost-effective solutions for your company with our Business Center.

Company Liquidation

Let’s face it, no one wants their company to face liquidation. But, if it happens, then we will be here to help you get through it. We provide services for a hassle-free liquidation completion.

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