OffShore Company Formation in Ras Al Khaimah | Flyingcolour

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Offshore Company In Ras Al Khaimah

Overview About RAK ICC Offshore Company

Ras Al Khaimah Government introduced regulations in 2006 for offshore company formation inside RAK ICC.
In 2017, RAK FTZ and RAK ICC merged to form a new entity RAK ICC.
Currently it is known as RAK ICC authority.
RAK ICC offshore maintains high reputation with international financial authorities.
100% foreign ownership is allowed.
Bank account of an offshore company registered with RAK ICC can be opened in multi currencies.
RAK ICC offshore company can only be registered through a registered agent.
Annual audit of an account is not mandatory.
RAK ICC offshore company is not allowed to rent an office location in UAE.
RAK ICC offshore company cannot conduct banking and insurance business.
RAK ICC offshore company is allowed to own real estate.
RAK ICC offshore companies are allowed to own shares in onshore LLC.
Names of shareholders and directors are not displayed on the public register.
Since 2019, it is mandatory to submit ESR notification for all offshore companies as per Ministry of economy.
Offshore company formation does not fall under VAT levied by the Government.

Overview about rakez offshore company

Popular Business Activities in an Offshore Company Registered with RAK ICC RAK

Property holding

Asset or share holding

Investment holding in form of stocks, precious metals and funds

International trading

International consultancy services

Holding IP rights

Documents Required to Register RAK Offshore Company

Passport copy

Utility bill clearly showing name and address not older than 90 days

Bank reference letter from any recognised bank or bank statement

CV for the share holder

Business plan

Duly filled in application form

Any other compliance process adopted by an authority or registered agent

Minimum Legal Requirements for RAK ICC Offshore Company Registration in RAK

Minimum one shareholder is required.

Corporate company can also be a shareholder in an offshore company. However, all attested documents are required for a foreign corporate company.

Having director is must in an offshore company. Director names are not available in the public domain.

Appointment of secretary is must in RAK ICC offshore.

Share holders names are not available on public domain.

Special Note

Passport copy
Utility bill clearly showing name and address not older than 90 days
Bank reference letter from any recognised bank or bank statement
CV for the shareholder
Business plan
Duly filled in the application form
Any other compliance process adopted by an authority or registered agent

Flyingcolour® assists in all types of company registrations in the United Arab Emirates. We assist in Mainland, Free Zone, or Offshore company registrations in all Emirates of the UAE and also assist in opening bank accounts with all local leading banks. We closely work with all Government Departments and banks.