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:

  • 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:

Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector

Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector

One of the most important regulatory banking documents on information security is the Regulation on bank secrecy and confidential information, which exists in every bank. This document entered into legal force by the banking sector’s order.

Troika Lenders Visit Cyprus Following Withdrawal From Bailout Programme

Troika Lenders Visit Cyprus Following Withdrawal From Bailout Programme

Representatives from the troika of Cyprus’ international lenders, the International Monetary Fund, European Commission and the European Central Bank, recently visited Cyprus for conducting their 4th post-scheme investigation following the islands recent withdrawal from the economic adjustment programme as agreed with the terms of the bailout.

The EC's Plans to Reduce NPLs in Europe May be Beneficial for Cyprus

The EC's Plans to Reduce NPLs in Europe May be Beneficial for Cyprus

Last month, the European Commission proposed an ambitious and comprehensive package of measures to tackle non-performing loans (NPLs) in Europe, making the most out of the promising progress already made in reducing risks in the banking sector.

Anti-Money Laundering measures: The Policy of Combating the Legalisation for Laundering Illicit Income

Anti-Money Laundering measures: The Policy of Combating the Legalisation for Laundering Illicit Income

Money laundering is the act of transforming money or other money obtained as a result of any illegal activity, in money or investments that appear legal, so that their illegal source cannot be traced.

Yellowslip Conversion from MEU1 to MEU3 for UK Nationals Living in Cyprus

Yellowslip Conversion from MEU1 to MEU3 for UK Nationals Living in Cyprus

Following the result of the referendum of 23rd June, Britain will in due course be leaving the European Union. The British High Commissioner outlined the processes currently being followed within government to prepare for the Brexit negotiations in order to find an outcome for the UK nationals living abroad in Cyprus.

ICOs: Can Accountants & Companies Benefit from Their Distribution?

ICOs: Can Accountants & Companies Benefit from Their Distribution?

Initial Coin Offerings (ICOs) are proving to be a common and trendy new way for businesses to raise capital, however what role are Accountants playing in this dynamic market?

The Cyprus Passport Scheme Under Scrutiny Again, However Should it be?

The Cyprus Passport Scheme Under Scrutiny Again, However Should it be?

A number of recently released documents show that the Cyprus passport by investment or naturalisation scheme remains a profitable source of revenue for the island, making almost €5 billion since it started in 2008 and granting EU citizenship to 1,654 foreign investors and their families.

Cyprus vs Malta: Tax & Investment Considerations

Cyprus vs Malta: Tax & Investment Considerations

Malta and Cyprus undeniably have the most favourable citizenship by investment programmes in Europe. Many individuals are using such schemes as a means of significant wealth protection and gaining dual nationality; while smaller economies within the EU receive financial compensation for the privilege.