Company Administration Guidelines

Share Capital:

  • There is no minimum share capital requirement.
  • Bearer shares are permitted. Par value of each share must be AED 1,000. Different classes of shares are permitted and shares have to be fully paid when allotted.
  • A minimum of one shareholder is required and Corporate Shareholders are permitted. Shareholders decide the capital structure of the company.

Directors:

  • 100% foreign ownership is permitted
  • A minimum of one director is required and corporate directors are permitted.
  • Details of directors are not available for public inspection.

Restrictions on Name & Activity:

  • RAK Offshore Company names must end with Limited or Incorporated
  • The following names and their associations cannot be used; Assurance, Bank, Building Society, Chartered, Imperial, Insurance, Trust

Local Requirements:

Till 2016 there have been 2 types of companies in RAK, i.e.:

  • Ras Al Khaima IBC - Internaional Business Companies, registered in RAK FTZ Free Trade Zone Authority;
  • RAK Offshore, registered in RAKIA Free Trade Zone.

There are following requirements for the companies in RAK:

  • Every Offshore Company in RAK has to have a registered office in RAK which is used as the business address of the company
  • It is obligatory to have a secretary for a RAK Offshore Company.

Confidentiality:

  • RAK Offshore Companies offer complete privacy and confidentiality, owners of IBC’s are kept confidential under law

Take the next step, we are here to help.

Register a RAK company.
Open a RAK bank account.

  Resources:

Cyprus Regulatory Update: Shell Company Definition & Exceptions

Cyprus Regulatory Update: Shell Company Definition & Exceptions

The Central Bank of Cyprus has released new guidance for all credit institutions on the island, refining the definition for shell companies and subsidiary entities; coming into effect from November 2018, which are detailed as follows:

Singapore Variable Capital Company VCC: New Features & Benefits

Singapore Variable Capital Company VCC: New Features & Benefits

The introduction of the VCC is a significant positive for the Singapore funds industry. Its aim is to retain Singapore as an attractive business destination and to keep investors wishing to domicile locally.

Consolidated Accounts for Hong Kong Companies: Subsidiary Requirements

Consolidated Accounts for Hong Kong Companies: Subsidiary Requirements

As per Hong Kong company’s ordinance subdivision 3 section 379 subsection 1, a Company Director will have to prepare year-end financial accounts that comply with sections 380 and 383.

Challenges of Our Time: Cryptocurrencies & Their Regulation

Challenges of Our Time: Cryptocurrencies & Their Regulation

The very concept of cryptocurrencies derives from technologies and the creation of alternatives to existing payment systems, which for the most part is caused by the negative consequences of financial crises and the injustice within the sphere of financial and legal regulation. Many people are convinced that the cryptocurrency is likely to become an alternative to the established global financial system and open new opportunities to those segments of the population and citizens of those countries that are deprived of the opportunity to work with the banking financial system.

The Tax System in Poland: Benefits & Overview

The Tax System in Poland: Benefits & Overview

The tax system in Poland is one of the most loyal for both large and small businesses in the country. There are two levels in the system that relate not only to residents of Poland, but also to foreigners. The Polish tax system consists of administrative taxes (duties are paid directly to state bodies) and local taxes (the process is similar to the previous type). Therefore, Poland is one of the European countries with a stable economic position, whose attractive system attracts citizens from neighbouring countries to conduct business within the country. It is the Polish taxation system that is advantageous for businessmen willing to enter the international market.

The reasons of abolition of the Company Secretary in UK Private Companies

The reasons of abolition of the Company Secretary in UK Private Companies

The role of Corporate Secretary can be a position in a private sector company or within the public sector organisation. In large, publicly-listed corporations, a Company Secretary is typically named a Corporate Secretary or just a Secretary. The Company Secretary is responsible for the efficient administration of a company, particularly with regards to ensuring compliance with statutory and regulatory requirements and also for ensuring that decisions of the board of directors are implemented.

The Dematerialisation of Shares in the UK: Current Update & Assessment

The Dematerialisation of Shares in the UK: Current Update & Assessment

Business is an area that is continuously developing. An integral part of both business and economics are companies. It is possible to say that companies dictate the conditions of the market to a certain extent. Any public or private company has its own shares; a share is a security that provides a portion of ownership of the company and gives the holder the right to a part of the profits.

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.