Ras Al Khaimah (RAK) Free Trade Zone is one of the emirates of the United Arab Emirates (UAE). The emirate is situated in the east of the Persian Gulf and is the northernmost emirate of the UAE.
In January 2007, the RAK Investment Authority (RAKIA) launched the international business company concept. There are no restrictions on the number of shareholders or directors of an international business company. Shareholders and directors are not obliged to hold an annual meeting or to file audited accounts. The International Business Companies (IBC) Registry displays only the name of the company and the date of incorporation.
International business companies are not authorised to conduct business activities in Ras al-Khaimah with the exception of accounting, audit, legal and banking activities. International business companies cannot employ staff locally.
Ras Al Khaimah has become a true trading and industrial hub with an economy that continues to expand and thrive.
To incorporate a RAK offshore company in this Emirate your personal presence is not required, which also adds to the efficiency to RAK ICC company registration.
Benefits of RAS AL KHAIMAH company set up:
– 100% foreign ownership;
– 100% repatriation of capital and profits;
– 0% corporate, personal tax; this means that there are no direct corporate income taxes, no sales taxes and no wealth taxes; the only exception to this zero tax policy is the treatment of oil and gas exploration companies and branches of foreign banks;
– No withholding tax;
– No requirements for the minimum share capital Absolute privacy, confidentiality and protection of assets and information;
– No restrictions on the directors’/shareholders’ residency or citizenship;
– Companies which are run within free zones are given certain tax exemptions;
– 0% export/import tax;
– The RAK ICC offshore company is registered without the requirement to have a physical office on the territory of the UAE and can only conduct business outside of the country. Whereby such a company can have the bank account in the Dubai bank or any other Emirate;
– No requirement to provide annual financial statements to the authorities on companies of this type;
Additionally to the RAK offshore company set up advantages, the UAE has double taxation treaties with more than 50 countries which are actually designed to make it an even more attractive destination and prospect for those individuals and companies who originate from countries with aggressive taxation policies. The treaties are in place to further reduce any potential taxation burdens being levied against foreign companies and citizens operating in the UAE and Dubai who remit their profits abroad.
Your Company in Ras Al Khaimah in 1-2 days.