The United Arab Emirates (UAE) comprises seven member states: Abu Dhabi (the capital), Dubai, Sharjah, Ajman, Umm Al Qaiwain, Ras Al Khaimah and Fujairah. Dubai is the second largest and ranks as the UAE’s most important port and commercial centre.
The UAE has concluded advantageous tax treaties with China, Czech Republic, Egypt, Finland, France, Germany, India, Indonesia, Italy, Malaysia, Netherlands (air transport), Pakistan, Poland, Romania, Singapore, Sri Lanka (air transport), Switzerland (air transport), UK (transport). It should be noted that the UAE is not on the OECD, UN or EU blacklists so Companies incorporated in this jurisdiction, if carefully structured with professional advice, may be extremely useful for tax planning purposes.
RAK Offshore is a part of the RAK Investment Authority, Government of Ras AI Khaimah, and U.A.E.
RAK Offshore has been effectively setting up Offshore companies since 2007 and till date has successfully formed many Offshore Companies. Furthermore, this offshore company formation offers clients the possibility to register their Yachts, Private Boats and Vessels in Ras AI Khaimah.
RAK (Dubai) Offshore aims to be a regional business hub with unique competitive advantages:
- It is located in Dubai, which is a Strategic location at the crossroads of East and West with access to a market of over 2 billion people.
- It is part of United Arab Emirates (UAE) which is one of the most financially and politically stable countries in the region and worldwide.
- Dubai offers a tax free environment, with numerous bilateral non – double taxation treaties with many countries including India and European countries.
- Also in Dubai you will find a well developed financial regulatory framework, which includes strict compliance for international anti-money laundering regulations.
- The government of Dubai has been known as a fast and efficient system with minimum regulation and red tapeism, and a strong commitment to encourage business and investments and investments.
Furthermore Dubai, offers one off the world’s most, modern telecommunication and transportation infrastructure with well-developed road, air and sea transport facilities.
Key features of the RAK (Dubai) Offshore Company:
- The RAK (Dubai) Offshore Company, is based on the International Business Company Regulation 2006, RAK Offshore, also referred to as Regulation 2006.
- The RAK (Dubai) Offshore Company is an International Business Company; comparable with a BVI or Cayman offshore company.
- The RAK (Dubai) Offshore company, there is no minimum capital requirement for an international company.
- The RAK (Dubai) Offshore Company is totally tax exempt, so there will no corporate income tax or capital gain or withholding tax on dividends.
- Provided that all documentation has been delivered in good order, the incorporation can be completed in as little as 3 working days.
- There is requirement to have a registered office in Dubai, which is something we can help you with.
- A minimum of one director is required for the formation of a RAK (Dubai) Offshore company, which could be individuals and/or corporations, and directors does not need to be registered or living in Dubai.
- Under the legislation that governs the RAK (Dubai) Offshore Company it is not mandatory to prepare financial statements and no annual returns will need to be filed in Dubai.
- Under the legislation that governs the RAK (Dubai) Offshore Company, shares must be issued in registered form and the shareholder records will be filed at the registrar of companies in Dubai. However, the shareholders records will not be open for inspection for the general public.
- Under the legislation that governs the RAK (Dubai) Offshore Company, no currency exchange controls and other financial restrains are imposed.
- Offshore companies established in other jurisdiction(s), can be redomiciled and registered in Dubai as a RAK (Dubai) Offshore company.
- The legislation which governs the RAK (Dubai) Offshore Company completes privacy and confidentiality, ensuring a highly conducive business environment for both individual and corporate investors.
- The legislation which governs the RAK (Dubai) Offshore Company allows for the RAK (Dubai) Offshore Company to own or hold real estate investments (as approved by the relevant authority where the offshore company is registered) in the UAE and can act as a Holding Company.
- The legislation which governs the RAK (Dubai) Offshore Company, allows for the RAK (Dubai) Offshore Company to use invest in securities or funds tax free, obtain mortgage for investment in UAE property.
Please contact us for more information about the RAK (Dubai) Offshore Company.