RAK offshore.
RAK Offshore Corporate
RAK Offshore Company can be opened only through agents who have been registered with RAK authority. BRIS CORPORATE SERVICES GULF FZE is licensed agency and we can provide you with all services you need.
RAK OFFSHORE takes special care to give small and medium enterprises the option of off-shoring their business through the creation of dedicated instruments, and enjoying the resulting benefits, some of which are listed below:
- Asset protection and planning
- Confidentiality of execution
- Tax planning
- International visibility
- No exchange controls
- Access to a superb communication and banking infrastructure
- Outsourcing
- Creative and genuine portfolio of dedicated services
- Property ownership for non-residents in UAE free zones
- Compliant with best international standards for anti-money laundering
What you have to provide for the RAK International Company registration
- Passport Copy
- Bank Reference Letter
- Proof of Residence
Documents requirements for legal entities:
- Copy of license or incorporation certificate issued by the chamber of commerce or any other body
- Board of Resolution
- MOA of the parental company
- Passport Copy of the Director and the Shareholders
- Additional documents may be requested by the Registrar during the registration process
RAK International Compliance
RAK OFFSHORE sets the bar very high in terms of Internal, Local, Federal and International compliance, yet keeping customers´ confidentiality at the heart of the system.
Day-to-day operations are managed by the Registrar, under control of the RAK Investment Authority (RAKIA), and the independent and dedicated Financial Services Authority (RAKFSA), as well as the Central Bank of the United Arab Emirates.
In delivering its functions and in considering applications by organizations and individuals wishing to establish businesses within or through RAK OFFSHORE, the Registrar and the FSA aim to adopt a firm but flexible regulatory approach.
It is of paramount concern to the Government that Ras Al Khaimah´s reputation is not tainted by the use of the jurisdiction for money laundering or other illegal purposes. Therefore, all licensed institutions are expected, in accordance with a set of strict guidance, to carry out proper due diligence and “know your customer” checks so that they are satisfied as to the identity of their clients and the legitimate origin of their clients´ funds. Although total confidentiality is ensured by the legislation, the authorities will cooperate with law enforcement agencies and regulators in the case of illegality.
Ras Al Khaimah has a well established professional infrastructure, with entrepreneurs at the highest decision-making levels. The RAK Investment Authority has long experience in fast registration and management of innovative companies and ventures. Corporate Services Providers or Ancillary Services must obtain a license from the Registrar, and adhere to the rules and regulations of the legislation. In case of non-compliance or unlawful activities, a series of fines and closure of activity will be enforced.
RAK International Corporate Centre
RAK Al Khaimah International Corporate Centre under the Government of Ras Al Khaimah is established pursuant to Decree No.12 dated 11 May 2015 and Decree No.4 dated 20 January 2016;
RAK International Corporate Centre, the corporate registry has been formed by the consolidation of two International Business Company registries namely:
RAK International Companies under RAK Free Trade Zone Authority and
RAK Offshore under RAK Al Khaimah Investment Authority
Noe the IBC)S) incorporated with RAK International Companies & RAK Offshore will be re-registered to RAK International Corporate Centre.
RAK International Corporate Centre will be solely responsible for the registration of International Business companies.
RAK International Corporate Centre is governed by the Regulating mentioned below:
- RAK International Corporate Centre Business Companies Regulations 2016
- RAK International Corporate Centre Agent Regulations 2016
RAK offshore business centre. Creation of RAK International Company
These companies are extremely flexible international instruments that can serve many objectives: trading operations, asset protection, tax planning, real estate holding, trusts, funds etc.
They require a symbolic capital and only one director and shareholder. They can hold board meetings anywhere on the planet and the identity of their shareholders are kept confidential by law, unless there is suspicion of criminal activity by the RAK and UAE regulatory bodies.
The cost of creation of such IBCs and the yearly renewal fee are minimal find more information. International Business Companies registered in RAK OFFSHORE can bear the status of Ltd (Limited).
Non-resident businesses and Individuals
RAK OFFSHORE is an ideal location for international business operations and asset protection schemes. If you are looking for an offshore location in the Middle East where you can register your LTD without too much cost or hassle, RAK International Company is the answer.
RAK OFFSHORE is the perfect place for outsourcing business in accounting, audit and other back office operations.
- Maritimes activities. RAK OFFSHORE offers open registry of yachts and private boats. It will also offer open registry of commercial vessels in the near future.
- Offshore non-financial businesses. You can register international business company bearing the status of Ltd (Limited) at RAK OFFSHORE
- Offshore financial businesses. RAK OFFSHORE offers all the infrastructure and regulatory framework to conduct a comprehensive range of offshore financial activities
Charitable trust and Foundations:
- Corporate Special trust. As the owner of an operating business, you can continue to maintain control over your company by setting up a Corporate Special Trust.
Other types of Trust: General Trusts:
- Vesting Trusts
- Employee Trusts
- Grantor Trusts
- Discretionary Trusts
- Educational Trusts
- Spendthrift Trusts
- Asset Protection Trusts
Collective investment schemes/ Investment funds:
- Mutual Funds (Unit Trusts)
- Hedge Funds
- Islamic Funds
Offshore banking:
- Offshore retail banking
- Offshore investment banking
Ras Al Khaimah offers a wide range of comprehensive services
Its booming economy and proximity to other major international centres like Dubai has attracted hundreds of large, medium and small businesses from every part of the world.
Now, RAK Offshore is making it possible for non-residents corporations, entrepreneurs and individuals worldwide to enjoy all the advantages which were available only to resident entities.
At RAK OFFSHORE, the “raison d’être” is to help your business succeed. From the very outset, it was conceived to allow you to unleash your entrepreneurial spirit by making it easier and more cost-effective to start and operate on offshore business.
RAK OFFSHORE offers businesses and individuals a wide range of comprehensive services and structures that are dedicated to non-residents. RAK OFFSHORE also benefits from one of the most comprehensive lists of non-double taxation treaties in the world, (including) with China, India, Italy, France and Germany.
Physically located in the superb infrastructure of the upcoming RAK Financial City, RAK OFFSHORE will allow a wide variety of international business and financial activities.
RAK OFFSHORE is the result of the extraordinary vision of H.H. Sheikh Saud Bin Saqr Al Qasimi, Council Member and Ruler of Ras Al Khaimah. And that vision has been turned into reality by the CEO of RAK Investment Authority (RAKIA). As successful entrepreneurs themselves, they have an intimate understanding of the needs and requirements of the business world. RAK OFFSHORE offers everything business enterprises need to excel in today’s highly competitive environment.
Responsibilities of RAK financial service authority
To ensure maximum flexibility for investors while maintaining strict compliance with local as well as international rules and regulations, RAK OFFSHORE has a dedicated RAK Financial Services Authority (FSA) that is directly in charge of overseeing the regulated financial activity within RAK OFFSHORE as well as the RAK FINANCIAL CITY.
RAKFSA will be fully authorized to carry out off and on-site inspections. On request, it will allow a Ras Al Khaimah federal or foreign regulatory authority to participate in its inspections:
- Screen applications received from RAK OFFSHORE or RAK FINANCIAL CITY and deliver licenses.
- Grant or revoke licenses and certificates submitted to the FSA by RAK OFFSHORE or RAK FINANCIAL CITY for financial services.
- Monitor Registered Agents by requesting regular reporting and performing periodical audits at their offices.
- Keep Registered Agents informed of the appropriate procedures by issuing guidelines.
- Supervise and regulate regulated persons, RAK FINANCIAL CITY staff and RAK OFFSHORE
- Screen applications received from RAK OFFSHOREfor Registered Agents and deliver licenses.
- Monitor and regulate RAK OFFSHOREand RAK FINANCIAL CITY financial services, in coordination with the Central Bank of the United Arab Emirates.
- Ensure that the supervised financial institutions provide the FSA with all information and documents that are relevant to carry out its supervisory functions.
- Develop the financial services industry in RAKIA administrated zones, including the conduct of surveys relating to the industry.
- Monitor the effectiveness of the RAKIA financial services legislation in providing for the supervision and regulation of the financial services industry as per internationally accepted standards.
- Provide the Government of RAK with periodic reports, advice, assistance and information in relation to any matters relating to the financial services industry as may be necessary.
- Make recommendations to the Government of RAK on needed amendments or revisions to the financial services legislation.
- Develop appropriate legal, regulatory and supervisory mechanisms for the efficient administration of the financial services industry.
- Encourage the development of high professional standards within the RAK financial services industry, in coordination with the Central Bank of the United Arab Emirates.
- Initiate and promote codes of conduct for regulated persons.
- Develop a system of continuing education for practitioners in financial services.
- Inform the general public on its functions and on matters relating toor affecting the financial services industry.
- Promote and maintain safe and sound financial services legislation in RAK, under the guidance of the Central Bank of the United Arab Emirates.
- Develop appropriate mechanisms to enhance the protection of the public, including investors, whether within or outside the RAKIA administered zones, against financial loss arising out of the dishonesty, incompetence, malpractice or insolvency of persons engaged in the financial services business in the RAKAI administered jurisdictions.
- Protect and enhance the reputation of Ras Al Khaimah and the United Arab Emirates as a financial services centre; and participate in the fight against financial crime and other unlawful activities relating to the financial services industry.
The Registrar of Companies is the production unit of RAK OFFSHORE and is responsible for establishing business relationships, incorporating offshore companies through licensed registered agents, and ensuring all rules and regulations are strictly adhered to:
- Process applications for incorporation of new companies and deliver certificate of incorporation with registration number.
- Perform due diligence on the individuals (directors, members etc.) who are a part of the incorporated company.
- Verify the names of companies at incorporation.
- Collect various fees and fines.
- Deliver certificates, duplicates or other documents as per the law.
- Maintain the physical registry.
- Update the Register of Companies as needed.
About RAK
Ras Al Khaimah has earned its reputation as a pre-eminent commercial centre with an innovative, dynamic and entrepreneurial business culture. Strategically located at the crossroads of trade and commerce between East and West, it is ideally positioned to service and access markets that span the Middle East, Africa, the Indian Subcontinent and the CIS countries. Moreover, it occupies a time zone that allows it to connect markets like the Far East and the US. To leverage this advantage, it is developing a world-class infrastructure, air and port facilities, making it the most well-connected hub in the region.
RAK Government’s proactive approach in creating the right infrastructure and logistics support for industries along with its investor friendly business environment has attracted many global industrial majors to set up base in the emirate.
The emirate is noted for the range and scope of its industries, covering an entire spectrum from building materials, steel, glass and pharmaceuticals to high- end optical data storage disc manufacturing and composites.
Politically stable, Ras Al Khaimah has a forward-looking, responsive government with a progressive, pro-business attitude and a strong commitment to the private sector. Business-friendly regulations and a favourable tax and customs framework have played a key role in attracting business investment from all over the world in almost every sphere of economic activity. Strong economic indicators and a relatively low cost work environment have contributed to its rapid development and prosperity. A modern, safe, multi-cultural place with state-of-the-art medical, education, entertainment, shopping and sports facilities that ensure a high quality of life, Ras Al Khaimah is the location of choice for the modern professional and an ideal location for multinationals to establish a regional presence.
RAK economy is based on leveraging on natural topography, consisting of 65 km of coastal silver sandy beaches, Majestic mountains on the eastern side for hill resorts, Un-spoilt desert plain in the central region for commercial & industrial projects and green belt in the southern side for agriculture developments. RAK is indeed blessed with abundance of natural beauty on one hand and unique location on the other which has allowed us to strategize our economic development on two pillars, namely, Tourism & Industry.
- No Corporate Tax
- No Income Tax
- 100% ownership in Free Zones
- No foreign exchange controls, trade barriers or quotas
- No restrictions on capital repatriation
- Easy access to key decision makers
- Liberal labour laws
Relatively Low Cost Work Environment
- Access to low cost regional talents
- Competitive energy costs
- Low land and real estate costs
- Competitive import duties (4% with many exemptions)
- 30-35% advantage to investor’s bottom line
The Best Connected Location in the Region
- Proximity to Dubai (80 km) and Sharjah (55 km).
- Modern International airport connecting important destinations
- Sea ports capable of handling bulk and container cargo. Availability of land, sea, air cargo infrastructure
- State of the art telecommunications
Easy Access to Regional Markets
- Total region population of 1.8 billion
- Close and easy access regional markets like Oman, Iran, Saudi Arabia , Qatar and other GCC countries
Thriving Tourist Destination
- Development of tourism projects and resorts, theme parks, desert and hill station resorts with total Investments US $ 10 billion in next 5 years
- Development of five star and seven star hotels with total Investments US $ 10 billion in next 5 years
- Development of hospital, health clinics, schools, colleges and universities with total Investments US $ 2 billion in the next 5 years
- Development of real estate, apartments, commercial complexes, marinas and golf course World class restaurants, beaches and tourist attractions
- Sports facilities including golf, dune driving and sand skiing
- World class shopping malls
Cosmopolitan Work Environment
- Strong work ethics
- World-class international schools and colleges
- Excellent facilities for leisure, sports, shopping and healthcare
- Progressive, tolerant and multicultural society
An Island of Calm & Safety
- Stable economy with relatively low volatility
- Continuous political stability since its inception
- Zero crime rate
Other advantages of RAK
- A strategic location at the crossroads of East and West with access to a market of over 2 billion people, from Morocco to China, and from Russia to Africa.
- A modern telecommunication and transportation infrastructure with well-developed road, air and sea transport facilities.
- No restrictions on hiring manpower and easy access to a large pool of well-qualified and trained professionals.
- Part of the United Arab Emirates, one of the most financially and politically stable countries in the region and worldwide.
- A local government that is fast and efficient with minimum regulation and red tape, and a strong commitment to encouraging business and investment.
- A tax-free environment, with numerous bilateral non-double taxation treaties with many countries ( more than fifty ) including India and European countries.
- A well-developed financial regulatory framework that includes strict compliance for international anti-money laundering regulations.
- A local currency linked to the US Dollar to ensure a stable exchange rate with no currency fluctuation.
- The experience and expertise of the RAK Investment Authority which has already registered more than 9,000 free zone industrial and trade companies in a very short time.
General Information
Languages:
- Arabic, English, Hindi, Urdu, Farsi
Currency:
- AE Dirham pegged to the US Dollar
Time Zone:
- GMT +4
Airports:
- Ras Al Khaimah Airport » 15 minutes drive
- Sharjah Airport » 30 minutes drive
- Dubai Airport » 45 minutes drive
Ports:
- Saqr Port » With Eight 200-meter long deep water berths, dredged to 12.2 meters, serves over 1,400 vessels annually
- Al Jazeera Port » New multipurpose
- RAK Port » Historical trading port
