RAKEZ Freezone Company

RAK Offshore Company

$5,800

What’s Included

  • Trade license
  • Shared Desk
  • Corporate and VAT Registration
  • Establishment Card
  • First year fees

A bank account can be added after the establishment for an additional cost.

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Please note that a visa is required to set up both corporate and personal bank accounts within the UAE
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Description

Ras Al Khaimah Economic Zone (RAKEZ), located in the emirate of Ras Al Khaimah, UAE, is a prime destination for business setups, formed by merging RAK Free Zone and RAK Investment Authority. Ras Al Khaimah is renowned as one of the fastest-growing emirates, offering a unique blend of natural beauty, a thriving economy, and a business-friendly environment. Known for its transparent, tax-free, and corruption-free business climate, RAK is an ideal location for entrepreneurs and corporations aiming to establish a presence in a dynamic market.

RAKEZ stands out with its customizable company setup options and seamless connectivity via seaports, an airport, and highways, making it a strategic hub for businesses. The economic stability and security of Ras Al Khaimah attract a wide array of businesses, from freelancers and small and medium enterprises (SMEs) to multinational corporations and large industries. This strategic combination of flexibility, connectivity, and a robust business environment exemplifies why RAKEZ is the preferred free zone for many, ensuring a prosperous foundation for business growth.

  • 100% Foreign Ownership: Unlike many other jurisdictions, RAKEZ allows full foreign ownership of businesses, giving international investors complete control over their enterprises.
  • Tax Benefits: RAKEZ provides a tax-free environment with no corporate tax, income tax, or value-added tax (VAT). This significantly enhances profitability and attracts foreign investment.
  • Confidentiality and Privacy: RAKEZ ensures a high level of confidentiality with no public register of shareholders and directors. This protects the privacy of business owners and their financial information.
  • Ease of Incorporation: Setting up a company in RAKEZ is quick and straightforward.
  • No Currency Restrictions: There are no restrictions on currency movements, allowing for free repatriation of capital and profits.
  • Banking Facilities: Companies incorporated in RAKEZ can easily open and maintain bank accounts in the UAE, facilitating smooth financial transactions.
  • Strategic Location: Situated in close proximity to Dubai and other major economic centers, RAKEZ provides excellent access to global markets, enhancing trade and business opportunities.
  • Modern Infrastructure: RAKEZ boasts state-of-the-art infrastructure, including world-class ports, airports, and logistics facilities, ensuring efficient business operations.
  • Support Services: RAKEZ offers a range of support services, including business consultancy, legal advisory, and administrative assistance, helping businesses navigate the regulatory environment.
  • Economic Stability: The economic security and steadiness of Ras Al Khaimah make it a reliable and attractive destination for foreign investors.
  • Flexibility in Business Activities: RAKEZ allows a wide range of business activities, from general trading and consulting to holding companies and property ownership, catering to diverse business needs.

Advantages of Incorporating a RAK Offshore Company

Incorporating a RAK Offshore Company offers numerous benefits:

  • Tax-Free Status: Enjoy a 100% income and corporate tax exemption.
  • Confidentiality: No public register of shareholders and directors, ensuring privacy.
  • Reputation: A strong, credible image for clients and suppliers.
  • Quick Incorporation: Fast and efficient setup process.
  • Ownership: 100% foreign ownership allowed.
  • Repatriation: Full repatriation of capital and profits.
  • No VAT or Capital Gains Tax: No additional tax burdens.
  • Low Start-Up Costs: Economical initial investment.
  • Banking Benefits: Ability to maintain bank accounts in the UAE.
  • Flexibility: Limited liability structure with minimal requirements for shareholders, directors, and secretaries.
  • Real Estate Ownership: Potential to own real property in the UAE with authorization.
  • Privacy: Absolute privacy, confidentiality, and protection of assets and information.
  • No Annual Audit Requirement: No need to submit an annual audit report to the Authority.
  • Quick Turnaround: Incorporation can be completed within 24 hours.
  • Global Accessibility: Proximity to Gulf and global markets.
  • No Physical Presence Required: Incorporation can be completed without being physically present in the UAE.
  • No Nationality Restrictions: Open to all nationalities.

Additional Benefits of RAK Freezone Companies

  • Strategic Location: RAK’s strategic location provides easy access to major global markets, with proximity to Dubai and other key economic centers in the UAE.
  • Modern Infrastructure: RAK offers state-of-the-art infrastructure, including world-class ports, airports, and logistics facilities, ensuring seamless business operations.
  • Support Services: RAK Freezone provides a range of support services, including business consultancy, legal advisory, and administrative assistance, helping businesses navigate the regulatory environment.
  • Cost-Effective Solutions: The Freezone offers cost-effective office spaces, warehouses, and land for industrial and commercial purposes, catering to businesses of all sizes.
  • Innovative Ecosystem: RAK Freezone fosters an innovative ecosystem with access to research and development centers, innovation hubs, and technology parks, promoting growth and collaboration.

Compliance and Corporate Requirements

  • Type of Company: Limited by shares.
  • Political Stability: Excellent.
  • Disclosure of Beneficial Owner: Yes.
  • Migration of Domicile: Permitted.
  • Corporate Taxation: Nil.
  • Language of Name: English or Arabic.
  • Minimum Shareholders: One.
  • Minimum Directors: One.
  • Corporate Directors: Permitted.
  • Authorized Capital: Minimum AED 1,000, fully paid.
  • Registered Office/Agent: Required.
  • Government Registers: Mandatory registers for directors, managers, shareholders, and members.

Permitted and Restricted Activities

  • Permitted Activities:
    • Non-UAE resident or UAE resident as director or shareholder.
    • Corporate shareholders or directors.
    • Holding shares in UAE and global companies.
    • Maintaining bank accounts in the UAE or worldwide.
    • Owning real estate in the UAE (with authorization).
    • No obligation to maintain books and records.
  • Restricted Activities:
    • No physical offices in the UAE.
    • Cannot carry out business within the UAE.
    • No UAE Residency Visa.
    • No banking or insurance business without a special license.

Main Activities Outside UAE

  • General Trading
  • Consulting and Advisory Services
  • Holding Company
  • Property Owning
  • International Services
  • Professional Services
  • Shipping and Ship Management

Main Activities Inside UAE

  • Holding Assets
  • Holding Bank Accounts
  • Property Owning (Freehold Areas)

Annual and Recurring Costs

    • Annual Return: Not required.
    • Submit Accounts: Required.
    • Minimum Annual Tax/License Fee: AED 2,000.