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THE MAIN CHARACTERISTICS OF RAK COMPANY

GENERAL
Type of entity
International Company Limited by Shares
Type of law
Federal/Sharia
Political Stability
Excellent
Disclosure of Beneficial Owner
Yes
Migration of Domicile Permitted
Yes
Corporate taxation
Nil
Language of Name
English or Arabic
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
One
Corporate Directors Permitted
Yes
Minimum Usual Authorised Capital
AED 1,000
Fully Paid
Yes
LOCAL
REQUIREMENTS
Local Partner (UAE National or
Company owned by UAE National)
No
Registered Office/Agent
Yes
Local Directors
No
Local Meeting
No
Government Register of Directors
Yes
Government Register of Shareholders
Yes
Local Auditor
No
ANNUAL REQUIREMENTS
Annual Return
No
Submit Accounts
Yes
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee
AED 2,000
Annual Return Filing Fee
AED 1,500

INTEREST OF THE JURISDICTION OF RAK

Advantages of a company in RAK

  • No corporate tax – 0%.
  • No corporate, personal, sales or withholding taxes applied in the UAE.
  • Absolute confidentiality.
  • 100% foreign ownership.
  • Double taxation treaty network.
  • No annual reporting requirements.
  • No Accounting.
  • No restrictions on repatriation of profits and capital.
  • Absence of Exchange controls.
  • Flexibility to act as the global holding company for all international activities.

Possible disadvantages of a company in RAK

  • Lack of public registers can hinder proving ownership.

PRESENTATION OF JURISDICTION

Ras Al-Khaimah (RAK), is one of the seven United Arab Emirates. And even though the most well-known Emirate is Dubai, 100 km from it, RAK stands out as the fastest growing free trade zone in the area.

A major interest has gone towards the financial and investment sector in Ras Al-Khaimah, and reasons lies in its financial structure and the features of RAX taxation:

  • No taxes for international, free zone or mainland companies, or individuals.
  • The Ras Al-Khaimah International Company (RAK-IC) was launched in 2006 and since that has helped many companies improve their financial structure, optimizing it, and providing tax effective and extensive corporate solutions.
  • It has a long and valuable experience helping companies that deal optimizing the financial structure of their services, i.e.
  • International trading.
  • Ownership of intellectual property or real estate.
  • Asset protection or if it is a global holding company.
  • The only prerequisite is to run all operations outside of the UAE.

Given that RAK International Company services are broader than those mentioned above…

HOW TO
PROCEED

To incorporate or purchase a company the following documentation should be provided:

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

Payment of our fees

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening