About RAK ICC Offshore Company
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100% foreign ownership is allowed, giving French entrepreneurs full control of their offshore companies.
- Offshore companies can open multi-currency corporate bank accounts with top UAE banks.
- Only a registered agent can register an offshore company under RAK ICC, ensuring compliance with UAE regulations.
- Annual account audits are not required, reducing compliance costs compared to onshore companies.
- RAK ICC offshore companies cannot rent office space in the UAE.
- Banking and insurance activities are not permitted, but companies can own real estate properties within approved UAE jurisdictions.
- They can also own shares in UAE-based onshore LLCs, including in Dubai and Abu Dhabi.
- Shareholder and director details remain confidential and are not displayed on public records.
- From 2019, companies must submit Economic Substance Regulation (ESR) notifications as per UAE Ministry of Economy requirements.
- RAK ICC offshore companies are VAT exempt, providing a significant cost advantage for French investors.
Key Benefits of Forming Offshore Company in RAK ICC in RAK
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 RAK
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 registration.
Utility bill (not more than 90 days old) with shareholder’s name and address for proof of address.
Bank reference letter or recent bank statement from a recognized bank to verify financial standing for the offshore application.
Updated CV (Curriculum Vitae) of the shareholder(s) for background information and business experience.
Business plan, outlining the proposed operations and financial projections of the RAK ICC offshore company.
Completed and signed RAK ICC offshore company application form prepared by the applicant and verified by a registered agent.
Additional documents as required by RAK ICC or registered agent to meet the regulatory requirements.
Minimum Legal Requirements for RAK ICC Offshore Company Registration in RAK
One shareholder is required for RAK ICC offshore company formation, so French investors have full ownership.
Corporate entities can be shareholders, all documentation attested for foreign corporate ownership in RAK ICC offshore company.
One director must be appointed, names are confidential, so business owners have privacy.
Company secretary must be appointed, RAK ICC offshore compliance.
Shareholder names are confidential and not listed publicly, so RAK ICC owners have full privacy.
Flyingcolour Business Setup offers Mainland, Free Zone and Offshore company registration in all Emirates of the UAE including Dubai, Abu Dhabi, Sharjah, Ajman, Fujairah, Ras Al Khaimah (RAK) and Umm Al Quwain (UAQ). Our experts will provide end to end support for business setup and ensure compliance with local regulations and bank account opening with all major UAE banks. We have strong ties with government departments and banks, for faster approvals and a smooth setup process.