Ras Al Khaimah is one of the fastest growing emirates of
UAE. Renowned for its natural beauty, RAK has also gained a reputation for
being a transparent, tax-free, corruption-free and a no-red tape location to do
business. It has a unique offshore location for being the outbound port for
India, Russia, CIS Countries, Iran, Pakistan and Middle East.
RAK Offshore is the first offshore center in the Middle East
to have its own registrat company. It offers business and individuals a wide
range of comprehensive services and structures that are dedicated to
non-residents. It also benefits from one of the most comprehensive lists of
non-double taxation treaties in the world including with China, India, Italy,
France and Germany.
In addition to setting up the International Company
(Offshore Company) with different classes of shares, it is further possible to
incorporate such a company with ‘Bearer Shareholding’ structure. Comparing to
other offshore structures in the region, the unique feature of RAK Offshore is
that it has set up an arbitral/judicial tribunal to resolve in case any dispute
arise with respect to the operation of the Company. The shareholders of the
company are free to opt any international law while submitting the disputes for
settlement before the tribunal, provided the fact has been mentioned in the
Memorandum of Association of the Company at the time of Incorporation.
Rakic Offshore Company
Activities Allowed
ü
Professional contact with legal consultants,
lawyers, accountants and auditors.
ü
To hold shareholders and directors meetings in
the UAE.
ü
To own real property in areas of the Zone
designated by the authority.
ü
To hold an account in a bank in the UAE for the
purpose of conducting its routine operational transactions.
ü
To engage in General Trading [Internationally].
To engage in commercial , industrial , agricultural and
activities considering and observing international rules and regulations and
statute law of country where the company operates its activity including
international trading , investment and other related activities.
ü
To open branch offices or representative offices
in any part of the world.
ü
To become a shareholder in a Limited Liability
Company to be formed in Dubai/ UAE.
ü
To become a shareholder in an entity which may
be formed either in UAE or UAE Free Zones
Restricted Activities
ü
To carry on business with persons in RAK Free
Trade Zone;
ü
To carry on banking , insurance , re insurance ,
insurance agent or insurance broker
ü
To carry on any other business which may, by
regulations made by the authority, be prohibited by the Authority.
RAK Offshore company Advantages/Benefits
ü
A strategic location at the crossroads of East
and West with access to a market of over 2 billion people from Morocco to
China, and from Russia to Africa.
ü
A modern telecommunication and transportation
infrastructure with well-developed road, air and sea transport facilities.
ü
No restrictions on hiring manpower and easy
access on a large pool on well-qualified and trained professionals.
ü
Part of the United Arab Emirates, one of the
most financially and politically stable in the region and worldwide.
ü
A local government that is fast and efficient
with minimum regulation and red tape and a strong commitment to encouraging
business and investment.
ü
A tax-free environment with numerous bilateral
non-double-taxation treaties with different countries including India and
European countries.
ü
A well-developed financial regulatory framework
that include strcit compliance for international anti-money laundering act.
ü
A local currency linked to US Dollar to ensure a
stable exchange rate with no currency fluctuation.
Yours faithfully
Winston Wambua
