RAK Offshore Company

RAK Offshore Company formation is a secure and cost-efficient option for businesses. RAK Offshore Company, like every other offshore company in the UAE, gets benefits such as tax exemption and total foreign ownership. RAK Offshore Companies allow an entity to have a single shareholder whose physical presence in the country is not mandatory.
In 2006, the Ras Al Khaimah government launched the RAK Offshore Company. The Ras Al Khaimah Free Trade Zone Authority International Companies Regulations 2006 regulates the RAK Offshore Company.

Shareholding & Directorship

Shareholders

Minimum of one shareholder is required

Corporate shareholders are allowed

International corporate shareholders are required to have all company documents attested

Directors

Minimum of one director is required and corporate directors are permitted

Details of directors are not available on the public register

Secretary

Every company must have a secretary

A company director may also act as company secretary

Share Capital

No minimum share capital required

Every company must keep accounting records for 7 years from the date of preparation

Key Benefits

100% Foreign Ownership

Fast Incorporation

Gateway to the international market

Stable and business-friendly legal system

No restriction on citizenship and no residency limitation

Can hold shares in a free zone company as well as in an onshore (LLC) company

High level of privacy and confidentiality guaranteed

Businesses can have multiple bank accounts in different currencies to carry out their international business operations