RAK

There are numerous benefits to incorporating a company in RAK.

Any non-residential individual or corporate entity can register an offshore company in RAK. These companies are very flexible financial instruments and can be used to serve many objectives such as tax planning, trusts, funds, real estate holdings etc. RAK offers businesses and individual a wide range of services and structures dedicated ton on-residents.

Below is a summary of benefits to utilizing a RAK Offshore Company:

• English is widely spoken and all business documents can be produced in English if required
  
• 100% foreign ownership is permitted
  
• Only one director and one shareholder is required
  
• RAK boasts a well developed, credible financial regulatory framework which includes strict adherence to International Standards such as international anti money laundering regulations
  
• The cost to create and maintain an RAK Offshore Company is relatively low
• RAK has a well established communication network and solid banking infrastructure
  
• No restrictions on hiring manpower if required with easy access to a large pool of well-qualified, highly training professionals
  
• A high degree of confidentiality is guaranteed
  
• A tax free environment with no exchange controls
  
• Low cost of incorporation and maintenance of a RAK Offshore Company
  
• RAK has a comprehensive Double Taxation Treaty, countries feature include: New Zealand, China, Malaysia, Malta, France, Italy, India, Singapore, India, Germany and Finland amongst others professionals
  
• A high degree of confidentiality is guaranteed
  
• A tax free environment with no exchange controls
  
• Low cost of incorporation and maintenance of a RAK Offshore Company
  
• RAK has a comprehensive Double Taxation Treaty, countries feature include: New Zealand, China, Malaysia, Malta, France, Italy, India, Singapore, India, Germany and Finland amongst others
  

The registration of an offshore company in RAK is relatively straight-forward with comparatively minimal compliance procedures and only one director and shareholder required (which may be the same person).The director and shareholder may be individuals or corporate entities and maybe a non-resident in the UAE.

Outlined below are the requirements for registering a Offshore Company in Ras-Al-Khaimah and the processes and procedures, administration issues and reporting requirements.

Procedure for RAK offshore company formation:

• An application form is completed with details regarding the preferred name and details of directors and shareholders.
  
• For Individual Applicants the following documents are required: A completed application form, passport copy, original bank reference letter, and proof of residence in the form of a utility bill / phone bill etc.
  
• For Non-Individual Applicants the following documents are required: Copy of Incorporation Certificate, Board of Meeting of Directors or Resolution, MOA of the parent company, Passport copy of the directors and shareholders, Good Standing Certificate and any other documents requested by the Registrar during the process
  
• Prior to offshore company registration the objectives and activities of the proposed company after incorporation must be disclosed to the Registrar
  
• The completed application form, personal documents and Articles of Incorporation are sent to the authorities.
  
• Once accepted and approved a Certificate of Existence is issued. This Certificate of Existence is proof of an Offshore Company’s formation, registration and existence. The Certificate of Existence is sometimes referred to as the Certificate of Incorporation.
  

 Detailed Service Price List-RAK Company Incorporation

If you have any questions regarding incorporation in Panama, please contact our specialists: info@eltoma-global.com