How do I set up an offshore company in UAE?
Documents Required to Start an Offshore Company in the UAE
- Attested passport copy of the owner/shareholder.
- Residential proof.
- Original bank reference document.
- Details of the owner/shareholder.
- Preferred name of the company to be formed.
- Activities of the newly formed offshore company.
- The hierarchy of beneficiaries.
How can I start my own business in RAK?
In order to start a business in the Emirate of Ras Al Khaimah, you need to follow these five key steps:
- Determine the type of business activity.
- Determine the Legal Category of the Establishment.
- Registering the Trade Name.
- Obtaining Approvals of Concerned Authorities.
- Issuance of the Business License.
What is a RAK company?
RAK International Corporate Centre (RAK ICC) is one of the fastest-growing international corporate registries with an excellent reputation for compliance and professional services. RAK ICC is responsible for the registration and incorporation of International Business Companies.
How much does it cost to open a company in Ras Al Khaimah?
Fees
| RAK free zones | Year 1 Cost | Year 2 Cost |
|---|---|---|
| Legally tax exempt LLC | US$11,870 | US$4,470 |
| Rakia Free zone company | US$21,950 | US$8,200 |
| Media City free zone company | US$23,600 | US$16,850 |
| Tax resident LLC | US$23,400 | US$10,400 |
What is the difference between offshore and onshore companies?
Onshore outsourcing refers to service providers located in the same country as your office headquarters. In contrast, offshore outsourcing is contracting a company located outside your country with considerable time zone differences.
How can I get Rak trade license?
How can we apply for the virtual trader license?
- The license owner should register in the digital ID (UAE PASS).
- Access Ras Al Khaimah Government website , and login by the digital ID (UAE PASS) of the license owner, then select the services of the Department of Economic Development.
How can I start a business in RAK Free Zone?
Here are the key steps to set up a business in a free zone.
- Determine the type of legal entity.
- Choose a trade name.
- Apply for a business licence.
- Choose an office space.
- Get pre-approvals, register your business and get your licence.
What is RAK offshore company?
Ras Al Khaimah offshore company formation RAK offshore company formation is established under the watch of the Ras Al Khaimah Investment Authority (RAKIA). RAKIA is a government body mandated to oversee the socioeconomic growth of RAK emirate by addressing the region’s rising demand for offshore business markets.
Is Rak ICC a free zone?
The Ras Al Khaimah International Corporate Centre or RAK ICC Free Zone is an emerging free trade zone in the emirate of Ras Al Khaimah.
How much is a taxi from Ras Al Khaimah to Dubai?
The quickest way to get from Ras al-Khaimah to Dubai is to taxi which costs AED 230 – AED 290 and takes 1h 8m.