Ras Al Khaimah Offshore Company Formation – Offshore Company Setup in the Emirate of Ras Al Khaimah

Ras Al Khaimah (RAK) is an emirate in the north of the UAE. The formation of offshore companies became possible in 2006 after Regulations on International Business Companies were adopted.

Offshore companies are completely exempted from taxes in the territory of the UAE, but they may not conduct business in the Emirates.

RAK offshore company is not obliged to file accounts with any state authorities in the UAE, however in accordance with part 7 of the Ras Al Khaimah Regulations on International Business Companies 2006 a company must keep documents on its economic activity to the extent that enables its directors to determine the financial position of the company.

Key Specifics

• offshore company is completely tax exempt;
• shareholders and directors of RAK company may be any individual(s) or legal entity(ies) (except for private funds and trusts);
• shares of such a company may either have or not have declared par value (in any currency);
• minimum share capital is AED 1.000 (approximately USD 275);
• offshore company must have a local registered agent whose registered office will be the registered office of the company;
• offshore company may have a nominee director, but no nominee shareholders.

Registration Procedure

1. Choose a company name to be checked for availability (at least 2 names)
2. Define a company structure (director, shareholders, and manager)
3. Define the company’s activities
4. Provide documents for directors / shareholders / attorneys (either originals or notarized copies)
5. Pay all the necessary fees
6.  Sign the corporate documents
7. Get the originals and the company seal

Registration Period

5 days