Ras Al Khaimah Offshore company formation
Ras Al Khaimah is one of the fastest-growing, developed, and stable emirates in the UAE. Notably, RAK was the first entity to pave way for the registration of International Business Companies abbreviated IBC in the entire Middle East region.
This means that investors are guarantee absolute safety and confidentiality. Additionally, investors are allowed to conduct diverse business activities within the international space.
A Ras Al Khaimah offshore company formation can venture in; inheritance planning, asset protection, and management, tax planning, real estate holding, trusts, and funds.
Ras Al Khaimah offshore company formation
RAK offshore company formation is established under the watch of the Ras Al Khaimah Investment Authority (RAKIA). RAKIA is a government body mandated to oversee the socioeconomic growth of RAK emirate by addressing the region’s rising demand for offshore business markets.
RAK is home to over 2000 IBCs that provide different services as aforementioned. According to the governing law, the Rak Al Khaimah offshore company formation authorities are required to retain utmost confidentiality with the names and personal details belonging to company shareholders.
RAK offshore requires one director and one shareholder for registration and licensure. Note that, one person can act as the company director and only shareholder. Despite the lenient RAK offshore company formation requirements, the caveat is the required minimum capital prior to company registration.
Nonetheless, most investors are willing to overlook the initial capital requirements with the aim of enjoying the RAK offshore company benefits as explained below.
RAK offshore company formation benefits
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- Confidentiality and privacy: RAK IBC owners’ and shareholders’ details are kept confidential as per the law. This rule offers a conducive business environment, especially among foreign investors interested in financial planning and asset protection service provision.
- Multiple business activities: RAK offshore company owners are permitted to engage in multiple business activities like; the provision of professional services, trading, and property holdings among others. There are only two sectors that RAK IBCs should not venture into; finance and insurance.
- Owning bank accounts: Due to the nature of the business conducted by Ras Al Khaimah offshore company formations, investors are allowed to open several bank accounts with Dubai-based banks and international banks located outside the UAE as well.
- Taxation: The RAs Al Khaimah emirate adheres to the double taxation treaties. DTT is an agreement that protects business corporations and individual investors from paying double taxes during one trade period. It determines the states to impose taxes on businesses at a particular trade period. This ensures that investors retain maximum profit margins.
Ras Al Khaimah offshore is an independent trade territory that strives to attract as many foreign-based investors as possible. However, RAK offshore company formations are ideal for Indian investors who seek to protect their hard-earned assets, minimize tax burdens, or set up an exchange control trading platform.
Visit our Shuraa India office for more insight on RAK offshore company formations.