Ras Al Khaimah International Company (RAK FTZ IC)
START YOUR NEW RAK FTZ INTERNATIONAL COMPANY
Oxford Consultants JLT is a registered agent of RAK IC and provides incorporation, management and administration services for RAK IC entities.
Register your company
- Deliver your RAK Free Trade Zone International Company (RAK FTZ IC) in 1-2 Days
- Open a bank account with e-banking and credit card
- Secure your tax optimisation
- Value for money services, no hidden costs
- Full confidentiality
- Prompt, professional and personal service at all times
RAK FTZ IC
Businesses that want to be registered in the United Arab Emirates, but do not intend to conduct any substantial business within the country, can opt for the international registry service. This service is particularly suitable for companies looking to minimize their overall tax liability, creating a company with a purely nominal equity investment, seeking asset protection or in need of establishing an exchange-control trading vehicle.
RAK International Company Formation and Its Advantages
- Absolute privacy, confidentiality and protection of assets and information;
- 100% foreign ownership;
- Zero income/personal tax;
- Zero corporate tax and VAT;
- Ability to maintain bank accounts in the UAE;
- Choice of law (common law, civil law or any jurisdiction of your choice);
- Ability to issue multiple classes of shares, including custodian shares and restricted bearer shares;
- Own real properties in the UAE;
- No AGM or local director/shareholder requirements;
- Own intellectual property such as patents, trademarks and copyright;
- 100% confidentiality as there is no public record.
RAK INTERNATIONAL COMPANY TAXES
The UAE is tax free country and therefore any companies incorporated in the UAE, especially offshore companies, are not liable to any kind of taxation.
RAK FTZ COMPANY FORMATION
Once all documents are received at our office Incorporation can be completed within three working days.
DOCUMENTS REQUIRED FOR INCORPORATING A RAK FTZ IC
- KYC documents on the director and shareholder (individual – physical person) include passport copy with UAE residency visa (if applicable) or entry stamp page, two utility bills not older than 3 months (copies), one bank reference letter not older than 3 months (copy) and resume/cv;
- KYC documents for a corporate director including copies of all corporate documents (even if the company is incorporated outside the UAE). If the company is older than 12 months a copy of a recent certificate of good standing and recent certificate of incumbency must be provided;
- KYC documents for a corporate shareholder include copies of all corporate documents (even if the company is incorporated outside the UAE). If the company is older than 12 months a copy of a recent certificate of good standing and recent certificate of incumbency must be provided. The corporate shareholder must also present a board resolution signed by the shareholders of the company, confirming that they are giving authority for the ABC company to act as a shareholder in the relevant RAK IC company. The board resolution will need to be notarized in the country of jurisdiction.
RAK OFFSHORE COMPANY CORPORATE AND LEGAL FEATURES
Minimum of 1 director required. Corporate director is allowed.
Minimum of 1 shareholder required. Corporate shareholder is allowed. 1005 foreign ownership id permitted.
Yes, it must be within Ras Al Khaimah.
The minimum authorised capital required is DHs 1,000 which must be fully paid up.
The RAK IC must be renewed once a year, taking into account 12 months from the incorporation date. A renewal fee must be paid within the deadline (maximum 30 days after the 12 months since the incorporation date). Any companies renewed after the deadline will be imposed with late penalty fees. If the company is not renewed by the 18th month of the incorporation date the company will automatically be struck off by the registry.
A list of company names (preferable 3) is initially sent to the registry for approval. The registry will aim to approve the name that is shown first on the list. The ending can be either INC., LTD., Limited or Incorporated.
It is mandatory to prepare audited accounts even though up to now it has not been a requirement of filing them. This however may change.
There is no public record. The only people/companies who can contact the registry and receive information on the relevant International Company are the people who work for the relevant company that acts as the registered agent.
OTHER IMPORTANT INFORMATION
- No UAE residency visas are issued through an International company;
- No physical office is allowed or required through an International company;
- No business transactions or activities are allowed within the UAE, through an International company;
- No trade license is provided through an International company as no activities are allowed within the UAE;
- A registered agent is a must. An international company cannot be incorporated without the assistance of a registered agent. Oxford Consultants JLT is a registered agent of RAK IC;
- No business activities are allowed within the UAE but you can easily open a bank account in the UAE.