RAK offshore company registration.
Ras al Khaimah (RAK) is one of the seven emirates in the United Arab Emirates situated in the North in the Persian Gulf. It is the forth largest emirate with a population of 250 000 people. RAK is one of the fastest growing emirates in one of the fastest growing economies in the world. Half of the population are UAE citizens and Arabic and English as two main languages. The other emirates are: Abu Dhabi, Ajman, Dubai, Fujairah, Sharjah and Umm al-Quwain.
RAK offshore is one of only two offshore jurisdictions in the whole of the United Arab Emirates. Ras Al Khaimah Investment Authority (RAKIA) became the second Emirate to take on the role of Offshore IBC Formations in February 2007 after Dubai and the Jebel Ali Free Zone Authority (JAFZA) became the first offshore tax haven in 2003. These IBC’s are regulated by the International Business Company Regulation 2006 – RAK investment Authority.
Ras Al Khaimah is not as well-known emirate like Dubai or Abu Dhabi, but that does not make it less attractive for those who want to start an international business. Especially in the light of the active policy of the emirate to attract the maximum number of foreign investors by offering them a condition of “tax havens”.
Apart from a full tax exemption and annual accounts, RAK offshore provides vast advantages and new opportunities for non-resident entrepreneurs and corporations. UAE is a large country with a developed infrastructure perfect for international business and a variety of international service ranging from banking services to large commercial and logistics companies.
UAE is not a member of the Organisation for Economic Cooperation and Development (OECD) thus there is no external communication i.e. information about the directors and founders are not shared with third parties. Other benefits include: exemption from all corporate and income taxes, no foreign currency restrictions, low business setting-up costs, no minimum capital requirements etc.