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Ras-Al-Khaimah (RAK) Offshore Company

 

Ras-Al-Khaimah (RAS) Offshore Company

 Ras-Al-Khaimah (RAS) Offshore Company 

Ras-Al-Khaimah (RAS) Offshore Company

  • Ras-Al-Khaimah (RAS) Offshore Company Ras al-Khaimah (Arabic: رأس الخيمة‎ Rā’s al-Ḫaymah) is one of the Persian Gulf Arab sheikhdoms forming the United Arab Emirates (UAE). Its name means “Top of the Tent”. The emirate is in the northern part of the UAE, bordering Oman’s exclave of Musandam. It covers an area of 1,684 square km. The capital city and home of most residents is also called Ras Al Khaimah. The emirate had a population of 210,063 at the 2005 Census, of which 41.82 percent or 87,848 were Emirati citizens. Latest estimates put the total population at between 250,000 and 300,000. Locals accounted for 97,529 in the population estimate for 2010.[1] The city has two main sections, Old Ras Al Khaimah and Nakheel, on either side of a creek. It is served by the Ras Al Khaimah International Airport. It consists of a northern part (where the city of Ras al-Khaimah is situated), and a large exclave in the south (near Hatta), and a few small islands in the Persian Gulf.

    – Source Wikipedia -.

  • Ras-Al-Khaimah (RAS) Offshore Company Not being a producer of oil, Ras al-Khaimah has focused on developing its industrial sector. As of 1920, Ras al-Khaimah was mining iron ore. Since then, the Emirate has focused on the Service sector with its prominent RAK Bank and RAK Insurance companies. New legislation and regulations favour international investments. The combination of security and confidentiality is ensured to entrepreneurs. An international company may only have foreign customers and is not liable for paying local taxes. It can open a local bank account, make investments tax-free, and obtain mortgages for investing in UAE assets. Employment visas are available. When approved, this type of company can own property in UAE free-trade zones. No income, sales, or wealth taxes are payable by individuals. No corporate taxes are charged. In addition, there are no exchange controls, no withholding nor import or export taxes.
    .-Source Wikipedia-

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Ras-Al-Khaimah (RAS) Offshore Company

 

 

Ras-Al-Khaimah (RAS) Offshore Company

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Ras-Al-Khaimah Key Company Features
General
Company type International Business Company (IBC)
Type of Law Civil Law with limited influence from Sharia Law.
Requirement for registered office and address Yes, must be maintained in RAK at registered agent
at least.
Name restrictions Names of existing firms,or names similar enought to
cause confusion.Also names of existing multinational
companies where incorporation permissions have not
been granted.Any name that contains reference to
registered trademarks not owned by the company.
Any name the Registrar may find undesirable,offensive
and or misleading.
Language of name English or Arabic.
Allowable suffixes LTD or Limited to illustrate limited liability.
Corporate Taxation Zero on non-Emirate derived income.
Corporate legislation environment The RAK investment authority is the govorning authority.
Registered companies are regulated by the International
Companies Regulation act of 2006 and the registered agents
regulations act of 2006.
Language of legislation and official documentation English
Restrictions on Trading Generally, may not trade within other RAK companies and
generally have to comply with the activities clause detailed in
the establishmene memorandum filed upon incorporation.
Names requiring authorisation. Depending on the case, permission has to be applied for when
company activities and name include and relate to ”Oil & Gas”,
”Banking & Investment,”Financial Services””Insurance,”Media”
,”Transport,”Construction,”,”Telecommunications,”Real Estate
management”,”Architectural and Engineering Consulting”,
”Tourism,”Shipping,”Civil Aviation,”Legal Services,”Medical
Services,”Education. Also names that contain,”State”,
”Govornment”, ”Royal”etc.
Confidentiality RAK offers a high degree of anonymity and privacy as well as
protection of other assets and information.
Stability Stable juristiction with solid reputation
Formation Time 3-4 days
Bearer Shares Bearer shares are not permitted
Timezone GMT +4
Share capital requirements
Official currency AED
Permitted currencies Any
Share capital requirement 1.000 AED is the usual minimum authorised.
Directors
Minimum Directors 1
Requirement for local administrator or Director Optional
Location of meetings and General Assembly Anywhere
Shareholders
Minimum number of shareholder/s 1
Public records access requirements There si no public registry of shareholders.
Company Secretary
Requirement Yes
Local or licensed requirement Yes
Statutory Accounts Requirements
Accounting/Reporting requirements No
Annual Tax returns No
Requirements for Audit No
Public Accesability of Accounts No
Incorporation Procedure and Documentation
A certified passport copy (or identity card), as well as proof of domicile (ie utility bill) dated less than three months.Note: It is possible to represent you with a confidential mandate.Click on the below link to be redirected.