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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

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.
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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

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

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.

Frequently Asked Questions

An Ajman Offshore Company is a legal business entity registered in the Ajman Free Zone that allows foreign investors to conduct international business activities while benefiting from tax efficiency and asset protection.

Yes. Foreign investors can enjoy 100% ownership of an Ajman Offshore Company without requiring a UAE national sponsor or partner.

The required documents generally include passport copies of shareholders and directors, proof of address, bank reference letters, and company incorporation documents for corporate shareholders.

No. An Ajman Offshore Company is primarily intended for international business activities and cannot directly trade within the UAE mainland without the necessary approvals and arrangements.

The incorporation process usually takes a few business days, provided all required documentation is complete and submitted correctly.

Yes. An Ajman Offshore Company may open a corporate bank account in the UAE, subject to the bank's due diligence and compliance requirements.

Flying Colour provides end-to-end assistance with company incorporation, document preparation, bank account opening support, compliance advisory, and ongoing business support services for Ajman Offshore Companies.