RAK ICC is a well-respected corporate registry in the UAE, and many foreign investors choose to register RAK offshore companies due to the innovative legislation and resources provided by the RAK ICC Authority. Additionally, the RAK offshore company formation process is quick and cost-effective, making it an appealing option for those looking to conduct business outside of the UAE.
Offshore companies are an attractive option for foreign investors who want to create legal entities to hold capital or assets both inside and outside the UAE, or conduct business outside the UAE.
Compared to other types of legal entities available in the UAE, offshore structures are relatively inexpensive. An offshore company is distinct from a free zone corporation in terms of its business operations. An offshore corporation is a legal entity created specifically to conduct business outside the country in which it is established and beyond the jurisdiction of its ultimate ownership.
It’s worth noting that offshore businesses in the UAE can offer many benefits, including tax exemption, increased business flexibility, and anonymity at a lower cost. One of the most significant offshore jurisdictions in the UAE is Ras Al Khaimah, which provides unique advantages for businesses looking to establish a presence in the region. Additionally, offshore businesses in the UAE can also enjoy asset protection for real estate purchased in the country.
RAK OFFSHORE COMPANY
RAK Offshore Company Formation is an affordable and easy-to-register offshore company in the UAE. It is the most cost-effective offshore jurisdiction in the region, with a quick and straightforward registration process. Although RAK offshore companies cannot have a physical office or do business in the UAE, they enjoy benefits such as total tax exemption, full access to firm profits, and complete privacy and asset protection. RAK offshore is the most prestigious offshore jurisdiction in the northern emirates, making it an excellent option for expat entrepreneurs and investors.
RAK offshore company formation is subject to strict regulations in the United Arab Emirates. The RAK ICC corporate register, which oversees the registration of companies in the Ras Al Khaimah emirate, was established by Decree No.12 of 2015 and later updated by Decree No.4 of 2016. The registry is the product of a merger between RAK International Companies and RAK Offshore, which were previously separate entities. The RAK ICC Business Companies Regulations 2018 govern the formation of offshore companies, ensuring that investors comply with legal requirements. Meanwhile, the RAK ICC Registered Agent Regulations 2018 regulate the activities of registered agents who assist investors in setting up offshore companies.
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