Set Up Your Offshore Company in
Ras Al Khaimah International Corporate Centre (RAK ICC)
Elevate your global reach and establish your offshore business with ease
Advantages of Setting Up Your RAK ICC Offshore Company
Setting up an offshore company in Ras Al Khaimah International Corporate Centre (RAK ICC) offers several significant advantages:
Confidentiality
Setting up an RAK ICC offshore company guarantees confidentiality. Offshore companies in the RAK ICC aren’t required to publish any financial information or share their directors’ & shareholders’ personal details on public records. Additionally, there is no requirement for these offshore businesses to be audited, further enhancing privacy.
Fewer Liabilities
Opting for RAK ICC company formation ensures that the company’s possessions and assets are well-protected in case of legal pursuits. This structure also enables asset protection for investors, creating a legal barrier between the company’s resources and any third parties.
Avenue to International Expansion
Forming a RAK ICC offshore company provides a UAE-based address, immediately boosting credibility for the business. This opens new opportunities for international partnerships and activities. Additionally, it allows for the opening of a UAE bank account, which is pivotal for a RAK ICC offshore company looking to engage in multiple currencies and global transactions.
Tax Incentives
In 2023, the UAE implemented a corporate tax rate of 9%. However, offshore companies, particularly those formed through RAK ICC company formation, are exempt from this tax as they are not eligible to operate their businesses within the country. This exemption is a significant financial advantage for a RAK ICC offshore company.
Set Up Your Offshore Company
Depending on your business needs, you may choose to set up an offshore
company from one of these three options:
Ras Al-Khaimah International Corporate Centre (RAK ICC)
RAK ICC is one of the fastest-growing jurisdictions across the MENA Region. Renowned for facilitating the incorporation of RAK ICC offshore companies, it has a strong reputation for compliance and upholding international standards.
Benefits
- Single-day incorporation process for RAK ICC offshore companies, available through the RAK ICC portal.
- No restrictions on the number of shareholders in a RAK ICC offshore company.
- No requirement for a physical office for RAK ICC company formation.
- Access to common law courts such as ADGM and DIFC for RAK ICC offshore companies.
- Offers a variety of legal structures tailored for different business purposes, perfect for RAK ICC company formation.
Requirements for Setting Up an Offshore Company in RAK ICC
The requirements to set up a RAK ICC offshore business depend on the specific structure and format of the company.
As a RAK ICC Offshore Company
with a Single Shareholder:
- Notarized Passport Copies
- Bank Reference Letter addressed to the RAK Offshore Authority
- Proof of Residency
- Curriculum Vitae
- Bank Statement for the last six months of the Company
As a RAK ICC Offshore Company
with Multiple Shareholders:
- Applicant Company’s Attested Photocopy of Business License or Incorporation Certificate
- Attested Memorandum of Association for RAK ICC company formation
- Attested Shareholder’s Resolution
- Passport Copies of all Directors and Shareholders
- Certificate of Good Standing
- Incumbency Certificate of the Company
- Note: Authorities may request additional documents for RAK ICC company formation.