Advantages of a RAK Offshore company:
• 100% income tax exemption
• 100% corporate tax exemption
• 100% capital and profit repatriation
• 100% ownership in Free Zones
• No capital gains tax
• No Value-added tax
• No Withholding tax
• Proximity to entire Gulf and global markets
• Low start-up costs
• Absolute privacy, confidentiality and protection of assets and information
• 100% foreign ownership
• Ability to maintain bank accounts (Current Account) in the UAE
• Limited liability company
• Minimum one director required, one shareholder and one secretary (it can be the same person)
• Own real properties in the UAE
• Annual Audit Report not required to be submitted to the Authority
• Time frame of 24 hour
• It does not require the shareholder/director to be physically present in the UAE for incorporation
• No restriction on nationalities Statutory
Requirements: Share capital? AE Dirham and US Dollar can be used as the denomination for the capital. Is there any residency requirement on shareholders or shareholders’ meeting? No Are corporate directors or corporate shareholders permitted? Yes. Corporate entities are even permitted to hold shares in a RAK Offshore companies. Is there any restriction on nationalities for shareholders/directors? No Are there any residency requirements of directors? The director can be a resident or any foreign citizen but is required to submit the proof of residence and other relevant documents. What about the information published relating to directors? There is no public register of directors, although the company may voluntary file its register of directors with the Registrar. Is a company seal required? Yes, a company must have a common seal.
