A to Z Guide for Company Formation for RAKEZ Offshore Company in Ras Al Khaimah

Overview About RAKEZ Offshore Company

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

Key Benefits of Registering Offshore Company with RAKEZ in Ras Al Khaimah

  • Asset protection
  • Succession planning
  • Privacy and Anonymity
  • Low operational cost
  • Operational bank account in multi currency
  • Invoicing internationally for trading and services businesses
  • Owning freehold real estate in Dubai
  • Owning shares in mainland LLC

Popular Business Activities in an Offshore Company Registered with RAKEZ Ras Al Khaimah

  • Property holding
  • Asset or share holding
  • Investment holding in form of stocks, precious metals and funds
  • International trading
  • International consultancy services
  • Holding IP rights

Minimum Legal Requirements for RAKEZ Offshore Company Registration in RAK

  • Minimum one share holder is required.
  • Corporate company can also be a share holder 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 public domain.
  • Appointment of secretary is must in JAFZA offshore.
  • Share holders names are not available on public domain.

Documents Required to Register an Offshore Company in RAKEZ Dubai

  • 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

Special Note

  • An offshore company registered in RAKEZ RAK is not allowed to conduct any business inside UAE.
  • An offshore company registered in RAKEZ RAK is allowed to own asset inside United Arab Emirates.

Flyingcolour® assists in all types of offshore company registrations with RAKEZ RAK. We assist in offshore company registrations for all allowed types of activities. We also assist in opening bank account with all local leading banks. We closely work with all free zone authorities and banks in United Arab Emirates.

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