Ras Al Khaimah (RAK) is a key emirate within the UAE and a popular jurisdiction for offshore company formation. The RAK Offshore framework, governed by the Ras Al Khaimah Investment Authority (RAKIA), offers a secure and tax-efficient environment for international business and asset protection.
An RAK offshore company allows for 100% foreign ownership, meaning no local investor or sponsor is required. This provides complete control and flexibility for international entrepreneurs. The setup process is known for being one of the fastest and most straightforward in the region, making it an excellent choice for those looking for a rapid and reliable solution.
Key Advantages of RAK Offshore
- Full Foreign Ownership: Enjoy complete ownership of your company and its assets.
- Tax-Free Environment: RAK offshore companies are exempt from all corporate and personal taxes.
- Full Repatriation: Freely repatriate all capital and profits without any restrictions.
- Confidentiality: RAK provides a high level of privacy and asset protection for shareholders.
- Global Recognition: The UAE is a “white-listed” jurisdiction, providing a credible and respected platform for international trade and business.
- Cost-Effective: The annual fee for an RAK offshore company is highly competitive.
- No Audits Required: There is no mandatory requirement for a physical office or to submit an annual audit report.
Required Documents for Company Formation
To open a company in RAK offshore, you will need to provide the following documents:
- Passport copy of the investor(s)
- A bank reference letter addressed to the RAK authority
- A bank statement covering the last six months
- Proof of residence (e.g., a utility bill)
- Curriculum Vitae (CV) of the investor(s)