Ras Al Khaimah Offshore
Company Formation
Establish your global presence with a RAK offshore. Benefit from
100% tax exemptions, complete privacy, and a fast, remote
registration process. No UAE visit is required.
Offshore Company Formation in Ras Al Khaimah
Offshore companies offer a cost-effective structure for foreign investors seeking to hold capital or assets, or conduct business outside the UAE, compared to other legal entities available in the country.
An offshore company operates differently from a free zone corporation. It is established to conduct business outside the country of incorporation or the location of its ultimate ownership.
The main advantages of establishing an offshore company in the UAE are outlined below, though specific benefits may vary depending on the relevant corporate legislation.
Offshore businesses in the UAE are generally exempt from corporate income tax. They offer business flexibility, anonymity, lower operating costs, and asset protection for real estate purchased in the UAE. For example, offshore companies are not required to maintain office space.
Ras Al Khaimah is one of the most important offshore jurisdictions in the United Arab Emirates.
Both are tax-free jurisdictions, meaning businesses operating there are not subject to UAE corporate or income tax. They also permit 100% foreign ownership, allow registered enterprises to open multi-currency accounts, and conduct business within the UAE.
Aspects of the RAK Offshore Company Formation
- The process of incorporation is completed quickly.
- There is no need for a local office or workers.
- The company is entirely owned by foreigners.
- There is no tax and no VAT.
- There are no import or export duties.
- There is no requirement to file accounts.
- Excellent reputation for stable jurisdiction.
- Maximum privacy and secrecy, as well as asset and information protection.
- There are no currency limits.
- Possess real estate in the UAE.
- Non-residents can own property in UAE free zones.
- Open a bank account in the UAE.
Documents Required for RAK Offshore Company Formation
- Copy of shareholder/investor’s passport.
- Curriculum vitae of the investor.
- Utility bill for address verification.
- Preferred trade names, if applicable.
Governing Legislation for RAK Offshore Company Formation :
The RAK ICC corporate register was established in accordance with Decree No.12 of 2015, which was later updated by Decree No.4 of 2016. The RAK International Companies (previously a component of RAK Free Trade Zone) and RAK Offshore (formerly a part of RAK Investment Authority) merged to form the new registry. RAK offshore company establishment is governed by the RAK ICC Business Companies Regulations 2018 for investors and the RAK ICC Registered Agent Regulations 2018 for registered agents in the UAE.
For inquiries about our services, kindly contact
us at your convenience.
RAK Offshore Companies' Key Features
- Shareholders: An RAK offshore company must have at least one shareholder to receive a certificate of establishment. Corporate shareholders are allowed. Shareholders determine the company’s capital structure. Bearer shares are not permitted by the RAK ICC Authority.
- Directors: At least one director is required to incorporate with RAK ICC. Corporate directors are permitted. Director identities are not disclosed to the public.
- Secretary: Every RAK ICC offshore company must appoint a secretary.
- Annual Reports and Audit: Companies must retain accounting records for 7 years from the date of preparation. The board of directors must approve and have at least one member sign these records. Submitting accounts to the RAK ICC Authority is optional.
- Timescale: Registration in the Free Zone takes three working days.
- Name and Activity Restrictions: A RAK offshore company’s name must end with ‘Limited’ or ‘Incorporated’. The following words are prohibited: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal, and Trust.
- Local Prerequisites: RAK offshore companies must have a registered office address and a registered agent. The agent’s office in the UAE or the free zone may serve as the registered office.
Declaration of the Ultimate Beneficial Owner (UBO)
Companies incorporated under RAK ICC must comply with Cabinet Decision No. (58) of 2020 regarding beneficial ownership. RAK offshore businesses are legally required to report Ultimate Beneficial Owner (UBO) information to the RAK ICC Authority. A UBO is any individual who benefits from and has ultimate authority over a business.
Under Cabinet Decision No. (58) of 2020, a UBO is defined as an individual who owns or controls at least 25% of the capital, holds voting rights for at least 25% of the shares, or otherwise exercises ultimate control over the legal entity. To comply, RAK offshore entities must maintain and disclose the Real Beneficiary Register (RBR) and Partners or Shareholders Register (PSR). All companies, including those in liquidation, must submit these registers and disclose UBO information to the RAK ICC Authority.
Economic Substance Regulation for RAK Offshore Companies
Companies registered with the RAK ICC Authority must determine if they are subject to the Economic Substance Regulation (ESR). UAE companies engaged in any of the nine Relevant Activities—Banking, Insurance, Investment Fund Management, Lease-Finance, Headquarters, Shipping, Holding Company, Intellectual Property, and Distribution & Service Centre—must comply with ESR. This includes filing notifications, submitting reports, and completing assessments. Companies in liquidation are also required to complete an ESR self-assessment.
RAK offshore company formation cost
RAK ICC offers competitive pricing for offshore company formation, with establishment costs starting at AED 12,000*.
Explore Offshore Company Formation in Ras Al Khaimah Now!
Are you considering establishing a business in RAK Offshore?
RAK ICC is a leading corporate registry in the UAE, known for its strong demand in offshore company formation. The RAK ICC Authority offers innovative legislation and resources to help foreign investors meet ESR requirements. To establish an offshore company, foreign investors must appoint a registered agent in the UAE, such as Shuraa.
Hundreds of businesses have benefited from Shuraa’s registered agent services in the UAE for many years. We have successfully established offshore corporations in RAK ICC, Ajman Offshore, and JAFZA. As premium registered agents, we offer seamless, reliable, and cost-effective services to all investors.
Frequently Asked Questions (FAQs)
Only registered agents are authorised to incorporate RAKICC offshore companies. Shuraa, as a registered agent with RAKICC, offers clients cost-effective and efficient UAE offshore company registration services. We typically complete incorporation within 3 to 4 working days after receiving client instructions.
RAKICC can register the following types of offshore companies:
- The most common type is a company limited by shares.
- Limited liability company
A company with restricted purposes - A company with a separate portfolio
- Unlimited business
No minimum capital is required to incorporate an offshore business in RAK.
Yes. One company secretary is required, who may also serve as a director.
A RAK Offshore Company must have a local registered representative authorised by local authorities and a local registered office, which is typically provided by the registered agent.
With Shuraa’s assistance, incorporation typically takes 1 to 2 working days.
The RAK Offshore Regulations 2006 govern the companies.
No.
Yes. Corporate entities may also own shares in RAK Offshore firms.
The director may be a foreign citizen, but must provide proof of residency and other required documentation.
