Ras Al Khaimah Offshore (RAK ICC) provides a streamlined and business-friendly setting, making it an excellent option for entrepreneurs and investors looking to set up or grow their offshore ventures. Businesses established in RAK Offshore benefit from tax optimization, secure banking, and full privacy.

Here are some of the benefits:

• Low Tax Liability
• Global Funding Potential
• Gateway to an International Market
• Multiple Bank Accounts
• Flexible Rules and Regulations
• Business Friendly Legal System
• Confidentiality and Privacy

YUGA Accounting & Tax Consultancy has 20 years of experience helping investors, large and small businesses to make their way in the UAE. We handle it all, from the licensing to staying on top of critical renewals, making your business setup experience easy and stress-free.

Activities Permitted in Ras Al Khaimah offshore

Businesses that operate in RAK Offshore generally include:

Inside UAE

As an offshore company in UAE, you may carry out the below-mentioned activities

• Bank account holding
• Owning properties
• Asset holding

Outside UAE

Certain main activities that an offshore company of RAK can hold are below

• General trading
• Owning properties
• Shipping related services
• Consulting or advisory services
• Internal corporate services
• Professional services
• Having a holding company

Required Documents and Steps to Obtain Your Business License in RAK Offshore

Getting your RAK Offshore business license is intended to be straightforward and hassle-free. Here are the steps you need to follow to obtain your license and the documents required to include with your application:

Requirements for Starting a Business in RAK ICC Offshore

Thinking of starting a business in RAK Offshore? Here are the requirements:

 1.Shareholders

• At least one shareholder is required.
• Bearer shares are not permitted.
• Corporate shareholders are allowed.

2. Annual Reports and Audit

• Submission of accounts to RAK ICC Authority on request.
• Accounting records must be kept for seven years.

3. Name and Activity Restrictions

• Avoid specific terms like Assurance, Bank, and Trust.
• Company name must end with ‘Limited’ or ‘Incorporated’.

4. Local Prerequisites

• The agent’s office can serve as the registered office.
• A registered office address and agent are mandatory.

5. Directors

• Corporate directors allowed.
• A minimum of one director is required.

6. Secretary

• A secretary is required for every offshore company.

7. Timescale

• Company registration takes three working days.