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Offshore Company In Ras Al Khaimah

A To Z Guide For Company Formation For RAK ICC Offshore Company In Ras Al Khaimah

About RAK ICC Offshore Company

  • The Ras Al Khaimah Government introduced the regulations in 2006 for RAK ICC offshore company formation

  • In 2017 RAK Free Trade Zone (RAK FTZ) and RAK ICC merged and now RAK ICC is the authority for all offshore formations.
  • German entrepreneurs can have 100% foreign ownership when setting up a company under RAK ICC.
  • Offshore companies can open multi-currency corporate bank accounts in top tier UAE banks for international transactions from Germany.
  • Only registered agents can set up an offshore company under RAK ICC to comply with UAE laws.
  • Annual account audits are not mandatory for RAK ICC offshore companies making it easier for German businesses to manage compliance.
  • RAK ICC offshore entities cannot lease office space in UAE, suitable for holding and asset management.
  • Banking and insurance activities are not permitted but German investors can legally hold real estate in approved UAE jurisdictions.
  • RAK ICC offshore companies can also own shares in UAE onshore LLCs including those in Dubai and Abu Dhabi.
  • Director and shareholder identities are confidential and not disclosed on public registers.
  • From 2019 all offshore entities must submit Economic Substance Regulation (ESR) notifications as per UAE Ministry of Economy.
  • RAK ICC offshore companies are VAT exempt providing a strategic tax advantage for German owned entities involved in global operations.
Overview about rakez offshore company

Key Benefits of Forming Offshore Company in RAK ICC in RAK

1

Asset protection

2

Succession planning

3

Privacy and Anonymity

4

Low operational cost

5

Operational bank account in multi currency

6

Invoicing internationally for trading and services businesses

7

Owning freehold real estate in RAK

8

Owning shares in mainland LLC

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 of the shareholder(s)
For identity verification for RAK ICC offshore company formation.

Utility bill (not more than 90 days old)
Showing the shareholder’s name and address to validate proof of residence for German applicants.

Bank reference letter or recent bank statement
Issued by a recognized bank to verify financial standing.

Updated CV (Curriculum Vitae) of the shareholder(s)
Showing professional experience and business expertise.

Business plan
A comprehensive outline of planned operations and financial goals of the RAK ICC offshore entity.

Completed and signed RAK ICC offshore company application form
Prepared by the applicant and reviewed by a registered agent.

Additional documents as required by RAK ICC or registered agent
To meet specific compliance or KYC/AML regulations.

Minimum Legal Requirements for RAK ICC Offshore Company Registration in RAK

 

German entrepreneurs can have 100% ownership and control.

 

Corporate entities can be shareholders
As long as all supporting documents are attested and legally verified.

 

One director must be appointed
Director names are not disclosed publicly so German investors remain private.

 

A company secretary is required
Mandatory to meet RAK ICC regulatory requirements.

 

Shareholder names are confidential
Public anonymity ensures more privacy and discretion.

We provide German entrepreneurs with expert consultation, full documentation support, bank account opening assistance and ensure complete compliance with UAE regulations. We have strong relationships with government departments and local banks to ensure fast processing and a smooth experience.