According to the authorities, this year the number of companies registered in Ras Al Khaimah FTZ is expected to surpass the target and go beyond the zone's plan, as Free Trade Zone is on the spike attracting more investors from all over the world.
Ras Al Khaimah Free Trade Zone is favorably located and is only within 1-hour drive from Dubai.
In order to incorporate RAK offshore company in this Emirate your personal presence is not considered to be a must, which also adds to the efficiency to RAK ICC company registration.
Benefits of Ras Al Khaimah Company set up are as follows:
- 100% foreign ownership;
- 100% repatriation of capital and profits;
- 0% corporate, personal tax;
- No requirements for the minimum share capital Absolute privacy, confidentiality and protection of assets and information;
- No restrictions on the directors'/shareholders' residency or citizenship;
- Companies which are run within free zones are given certain tax exemptions;
- 0% export/import tax.
The RAK ICC offshore company is registered without the requirement to have the physical office on the territory of the UAE and can only conduct business outside of the country. Whereby such a company can have the bank account in the Dubai bank or any other Emirate.
There is no requirement to provide annual financial statements to the authorities on companies of this type.
Additionally to the RAK offshore company set up advantages, the UAE has double taxation treaties with more than 50 countries which are actually designed to make it an even more attractive destination and prospect for those individuals and companies who originate from countries with aggressive taxation policies. The treaties are in place to further reduce any potential taxation burdens being levied against foreign companies and citizens operating in the UAE and Dubai who remit their profits abroad.
