Open an offshore in UAE Ras Al Khaimah

Open Ras Al-Khaimah Offshore

Official language: Arabic, English

Organisational and legal forms of companies:

1. Onshore companies.
2. Offshore companies.
3. Free zone companies.

Capital: Ras Al Khaimah

Major cities: Рас-Аль-Хайма

Form of government: Emirate in the UAE, a combination of monarchical and republican systems

Legal system: The Romano-Germanic legal system and the Muslim legal system

Currency: AED

Brief description of the jurisdiction: Ras Al Khaimah is an emirate located in the UAE (United Arab Emirates). Free zones in the UAE are distributed between different areas of business activity. Due to the taxation features, opening an offshore Arab Emirates is a lucrative option.

What is included in the cost of company registration and renewal

1. Our employees will help not only to gather all the necessary documents for company registration, but also to prepare them according to the rules.
2. We will carry out the procedure of beneficiary identification or Due Diligence.
3. Our employees will pay state fees and charges.
4. We offer full corporate support and legal assistance.
5. Professional consultation by our specialists.
6. Services of an experienced notary (certification and apostille).
7. Power of attorney for a company employee.
8. You can also buy offshore (Arab Em

Required documents from the beneficiary:

1. A certificate that proves that the registration was successful (Incorporation Certificate).
2. Articles of Association and Memorandum (Articles of Association and Memorandum).
3. Power of Attorney for an employee of our company (Power of Attorny).

Documents to be provided after registration:

1. Articles of Association.
2. Memorandum of Association.
3. Seal.

Work algorithm:

1. First, an employee of our company conducts a consultation to help you understand how to open an offshore Arab Emirates. We will be happy to answer any questions you may have.
2. Mandatory beneficiary identification procedure, which requires you to provide some documents (e.g. passport).
3. Client pays for our services and after that our employees start to collect and process documents for company registration in Ras Al Khaimah.
4. Conducting legalization of documentation. In UAE apostilization is not legal, therefore it is necessary to have the documents legalized by a notary.
5. We pay all fees and duties described in the legislation.
6. If the client wishes to buy an offshore UAE company, we prepare all necessary documents and assist with the registration process.

Advantages of jurisdiction:

1. There is no corporate taxation in this emirate.
2. A company can be owned by a foreigner.
3. It is possible to transfer its profits out of the country without problems.
4. The share capital of companies has no minimum threshold.
5. The legal framework is sound and stable, which provides asset protection.
6. Preferential access to the market in the countries that are in the Persian Gulf.

Disadvantages of jurisdiction:

1. Registering a company in Ras Al-Khaimah is an expensive service.

In which circuits it is usually used: Classic offshore schemes are usually used here.

List of banks in the jurisdiction:

1. RAK Bank.
2. HSBC Bank Middle East Limited.

Requirements for the company:

1. The name must include the word "Limited" or "Incorporation" or the abbreviation "Ltd." or "Inc.".
2. The address of the international company must be registered.
3. The type of business the company will be engaged in must be specified.
4. The amount of share capital and the nominal value of the shares issued must be specified.
5. The addresses and names of all directors and shareholders must be given.

Prohibited activities: Companies registered in Ras Al-Khaimah are not allowed to engage in commercial activities with third parties in the Free Economic Zone, to engage in activities that are considered prohibited, to open banks or banking institutions, to open insurance or reinsurance firms.

Tax system: There is no taxation in the UAE, but individual emirates have created decrees to tax companies. But these decrees have not come into force, so they do not apply. However, companies are charged an annual fee, which is 2 thousand UAE dirhams. There is a separate tax on real estate, which is 4% of the price of the contract signed.

Reporting requirements: According to the legislation, financial statements must be prepared by all companies in Ras Al Khaimah. There are no other reporting requirements.

Jurisdictional Immigration Opportunities: If you start a company in the Free Zone, this will give your family the opportunity to obtain a visa to the UAE. To obtain a residence permit in Ras Al Khaimah you can also invest in real estate here.

Double taxation treaties: Ras Al-Khaimah has signed 72 double taxation treaties (with Azerbaijan, Austria, Armenia, Algeria, Belarus, Bangladesh, Bulgaria, Belgium, Brunei, Bosnia and Herzegovina, Venezuela, Guinea, Hungary, Greece, Egypt, Georgia, Germany, Indonesia, India, Ireland, Italy, Kazakhstan, Kenya, Latvia, Spain, Lebanon, Libya, Lithuania, Luxembourg, China, Cyprus, Kazakhstan, China, Yemen, Malta, Malaysia, Malawi, Malta, Mauritania, Morocco, Mozambique, Myanmar, Namibia, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, Venezuela, Viet Nam, Yemen, and the United Kingdom of Great Britain and Northern Ireland, Malta, Malaysia, Mauritius, Mongolia, Morocco, Mexico, Netherlands, Mozambique, Pakistan, New Zealand, Poland, Panama, Romania, Portugal, Serbia, Seychelles, Sudan, Syria, Singapore, Slovenia, Czech Republic, Estonia, Fiji, Finland, France, Japan, Montenegro, Philippines, South Korea, Sri Lanka, Switzerland, Tajikistan, Thailand, Turkey, Tunisia, Turkmenistan, Ukraine, Uzbekistan.

Tax information agreements: None.

At Legislative level, so-called "tax holidays" have been established for 50 years. The UAE has a rather flexible banking sector and a high level of secrecy of banking institutions, so opening an account in Ras Al Khaimah is very convenient.

Jurisdictions such as: Offshore Seychelles

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