Jurisdiction of the Emirate of Ras al-Khaimah is an example of successful economic model, which is actively supported by the tourism industry, and other investment projects in the UAE. In light of this popularity, the questions, concerning the share capital for registration of the offshore RAK ICC company, are frequent.
There are no strict requirements to the amount of the share capital for registration of the offshore formations on the territory of the RAK specialized trade zone. The norms of the current UAE corporate law, in this jurisdiction, provide for the following provisions for the establishment and registration of an offshore company:
- Minimum threshold of the share capital is USD 1.000. Paying the share capital is not required;
- Share capital of the offshore formations is only of the declared character;
- Issuance of securities, which have no par value, is available;
- The legislation does not limit the type of currency for the formation of the share capital.
Thus, there are no requirements to the size and obligatory deposition of the capital to the bank account, for the registration of an offshore formation RAK ICC in the United Arab Emirates, in particular in the territory of Ras Al Khaimah.
