Offshore Company Formation in UAE

✔ Not suitable for all businesses.
✔ Different regulations and reporting requirements of the selected offshore free zone need to be understood and practiced.
✔ Not all businesses are eligible to set up an offshore company.
✔ Having a physical presence in the chosen offshore zone is a requirement.
✔ It is essential to adhere to compliance and reporting regulations and requirements.
✔ Offshore companies are not allowed to conduct business inside the UAE. Thus, requiring a separate mainland company for operations within the UAE.
✔ Challenging bank account opening procedures as the banks are doing extra due diligence.
✔ Anti-money laundering and record-keeping are usually done excessively for offshore companies.

With these challenges, it is vital to have experts like Gatestone Group on board to assist you in dissolving the complexities of setting up an offshore company.

RAK International Corporate Center (RAK ICC) is known to be one of the most cost-effective options, with specialised activities including maritime and technology. With Ras Al Khaimah having the largest percentage of industrialisation in the UAE, RAK ICC has become an evident choice for numerous investors to set up a company. The RAK government launched the RAK offshore company structure under the regulation of the Ras Al Khaimah Free Trade Zone Authority International Companies Regulations 2006.

Key Features of a RAK ICC Offshore Company

✔ Minimum requirement of one shareholder with the eligibility of having corporate shareholders.
✔ Minimum requirement of two directors with the restriction of not having corporate directors.
✔ Directors are not listed on the public register.
✔ Requirement of a company secretary.
✔ A minimum paid-up share capital is not required.
✔ Requirement of keeping accounting records for the last 7 years, starting from the date of preparation.
✔ RAK ICC offshore companies are not allowed to use words such as imperial, insurance, municipal, Chamber of Commerce, chartered, co-operative, assurance, bank, building society, fund, mutual fund, royal, and trust.
✔ An office address is required.
✔ It is mandatory to comply with the Economic Substance Regulations (ESR) obligations.
✔ Provides a variety of legal structure options.

How do I register an offshore company with RAK ICC?

Gatestone Group will assist you in the application procedure for offshore company formation in RAK ICC, which includes:

✔ Select the name of the company that ends with the words ‘limited’ or ‘incorporated’.
✔ Registered address of the company. This can be the address of the registered agent of a company like Gatestone Group.
✔ Select the business activity and structure.
✔ Share capital, the number of shares, and the par value of the shares of the company.

Types of offshore company structures in the RAK ICC

✔ Segregated Portfolio Company (SPC).
✔ Segregated Portfolio Company (SPC).
✔ Company Limited by Guarantee (CLG).
✔ Unlimited Company (UC).

Unlock the possibilities of a strategic business presence in the United Arab Emirates (UAE) through Gatestone Group’s Offshore Company Formation services. Discover the many advantages of business incorporation in Offshore jurisdiction.

Our expert team will assist and guide you and familiarise you with the specific UAE offshore regulations to start smooth and efficient company formation procedures.