Speaking about the offshore companies in the jurisdiction of the Ras Al Khaimah specialized free trade zone, one can note that it is the best option for creating the international business structure. Also, the rules of the current legislation permit 100% foreign participation in the shares of the company.
Physical persons as well as legal bodies can be the founders / shareholders of an offshore. At the same time, offshore companies are exempted from the requirement to submit the financial reporting to the regulating authorities. An offshore company in the jurisdiction of Ras Al Khaimah may carry out any activity that does not violate the local legislation.
List of main advantages of offshore in Ras Al Khaimah
Main factors that ensure the competitiveness of the business in the UAE:
- Offshore companies in Ras Al Khaimah are fully exempted from the corporate and income taxation;
- There are no restrictions for the owners and company executives regarding citizenship and tax residence;
- Direct access to the international and regional markets;
- Simplified registration procedure and minimum charges on annual maintenance of the company;
- The possibility of opening a corporate bank account in the local and foreign banking institutions.
Company of this type is not expensive within registration and further administration. RAK ICC incorporation takes a couple of days only. UAE, as the jurisdiction, is well known as the solid and reputable one and is widely accepted by international partners.
When using such Ras Al Khaimah company there are numerous advantages. As the company practically does not have limitations on its activities, it can be applied for nearly all tasks – trading, commission agreements, all types of consulting, transport and logistics services, holding of assets and others.
