RAK Offshore Company Setup
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About RAK Offshore
Situated in the northernmost corner of the UAE, Ras Al Khaimah stands out as a forward-thinking emirate where investments find both stability and opportunity. It is within this ecosystem that the Ras Al Khaimah International Corporate Centre (RAK ICC) serves as the official registry for RAK Offshore companies. Often referred to simply as RAK Offshore, this jurisdiction allows investors to structure their international ventures under the RAK ICC Business Companies Regulations. RAK Offshore companies are considered non-resident entities primarily used for holding and international business purposes and typically cannot lease physical office space or operate within the UAE. They can, however, hold a registered address, through an authorized agent.
By operating under the purview of RAK ICC, RAK Offshore companies uphold high international regulatory standards, which contribute to their credibility as a trusted jurisdiction for holding companies, international trade, and investment structures.
Why Choose RAK Offshore?
Here are some reasons to consider RAK Offshore for your business formation
- 100% foreign ownership
- Tax incentives and repatriation benefits
- No audit requirement
- No need for physical office space
- Property ownership in designated freehold areas, subject to approval
3 Simple Steps
Your RAK Offshore company formation explained in three (3) simple steps
Step 1
Initial consultation
Step 2
Application preparation
and submission
Step 3
Business license
issuance
Client Testimonials
“Fantastic service, all queries answered quickly and efficiently and in an easy to read manner so I could understand what was required every step of the way. Highly recommend this service.”
Pricing Packages
Get in touch with us to receive a customized quote for your company formation
RAK Offshore at a Glance
Timeline
Here is the timeline for RAK Offshore company formation
Day 1: Application Submission
Submit your signed business setup application along with all required documents to officially begin your RAK Offshore company registration with InZone as your registered RAK ICC agent.
Days 2 to 5: Review and Verification
Your chosen company name is reserved and all required documents are reviewed and approved by RAK ICC during this period.
Day 6: Certificate of Incorporation Issuance
Your Certificate of Incorporation is issued by RAK ICC. A digital copy is provided so you can commence international operations.
Note: Processing times may vary and are subject to compliance checks
Types of RAK Offshore Companies
RAK ICC offers various types of offshore companies to suit the needs to shareholders and investors. The companies range from standard offshore/international business companies to specific purpose vehicles which are outlined below:
1. Standard Offshore Companies or IBCs
An offshore company or international business company (IBC) is the most-commonly used form of offshore company in the UAE. It is a standard company that allows the shareholders to carry out international business transactions around the world. Typical international business activities carried out by these companies include:
- Various types of services.
- Consultancy.
- Trading.
- Holding of shares or listed securities.
- Holding of assets such as trademarks and other IP.
- Holding of real estate in Dubai and elsewhere.
Shareholders in these companies are typically individuals who wish to take advantage of freedom offered by these companies, associated tax benefits and bank account opening facility offered by various banks in the UAE and around the world. These companies are also used by shareholders as part of their estate planning.
2. Special Purpose Vehicles (SPVs)
SPVs are corporate vehicles established for various purposes including:
- Structured finance transactions.
- Securitizations.
- Asset holding and transfers.
- Financing and raising capital.
- Ring-fencing legal and financial risks.
- Fractional ownerships.
SPVs are typically incorporated as subsidiaries, project or joint venture companies and ensure that only the transaction specific assets are exposed to liabilities related to the transaction. The key feature of an SPV is that it is a separate legal entity and any claims by the creditors cannot be extended to the assets of the shareholders or any of its sister companies of the SPV.
In a typical SPV structure, the parent company or the investor sets up the SPV. The SPV holds the relevant security asset and enters into a loan agreement and share pledge agreement with the lender. The financing is provided to the operating company and only the assets of the SPV remain open to a claim by the lender.
3. Intellectual Property Holding Companies
The intellectual property (IP) related to a business name or a system are typically the most valuable assets of a business. Businesses that intend to have national or international identity take steps to protect the use of their name, logo or other IP including trademarks, patents and designs, franchises, know-how and copyrights.
IP holding companies are usually established to obtain the following benefits:
- Centralization of all IP assets.
- IP protection.
- Taxation.
- Securitization of IP.
- Clear balance sheet for the group.
In a typical RAK ICC IP holding offshore company structure, a parent company establishes an IP holding company and transfers all its IP assets into the name of that company. IP holding company thus holds all the IP assets for the group. IP holding company then enters into appropriate license or franchise agreements with subsidiaries of the holding company or any other parties who may wish to use the IP rights. Ring-fencing of IP assets is also achieved through this method.
4. Private Client Solution
This type of entity is established as a family office by a wealthy family to manage its wealth. A family typically uses these entities to provide family members certain services including tax and estate planning. The family offices may also include philanthropic arms for supporting charitable, social and educational interests of the families.
Typical benefits of these types of entities include:
- Foundation can be shareholder.
- Estate planning.
- Tax benefits.
- Asset protection.
- DIFC Will – only applicable to non-Muslims.
In a typical family office offshore company structure, a family beneficiary sets up a foundation with RAK ICC. The foundation then sets up a family office SPV with RAK ICC. Family office SPV then owns various assets including real estate, shares in listed companies and other operating companies.
5. Segregated Portfolio Company (SPC)
An SPC is also sometimes referred to as a protected cell company. It segregates assets and liabilities of different classes of shares from each other as well as from the general assets of the SPC. It is a complicated structure used in sophisticated transactions. Segregated portfolio assets comprise assets representing share capital, capital reserves, retained earnings, share premiums and all other assets of the SPC.
The main benefits of SPC include:
- Separate legal personality with limited liability.
- Cover up to ten (10) segregated portfolios.
- Separation of liability between share classes and general assets of SPC.
- Sub bank accounts.
6. Holding Companies
The holding company is typically incorporated to ring fence investments, public and private equity stakes and other assets.
In this structure, a parent company or investor sets up a RAK ICC passive holding offshore company which owns the following types of assets:
- Publicly traded shares or bonds.
- Controlling or non-controlling share in UAE based companies or companies outside the UAE.
Main benefits of this type of entity include:
- Provides an effective structure for ease of ownership transfer.
- Security for finance-based valuation based on the underlying assets.
- Operating structure for bringing assets in one pool for reporting or management purposes.
The Steps to Set Up a RAK Offshore Company
1. Choose and reserve your company name: Select a distinct company name that conforms with RAK ICC naming guidelines. Once approved, your business name will be reserved for your entity.
2. Appoint a RAK ICC agent with the required documents: Compile all necessary documents and appoint a licensed RAK ICC agent. Every RAK Offshore company must be incorporated through an authorized agent who can handle all administrative requirements with the authority and act as a point of liaison for your company.
3. Submit the application for review: The registered agent will then submit the application form along with all other supporting documents for review by RAK ICC.
4. Get your certificate of incorporation: Following the successful approval of your application, RAK ICC will grant you company incorporation documents.
Once you have your company incorporation documents and your offshore company is registered, you will need to open a bank account in the UAE or with an international banking institution. Your registered agent will be in the best position to help you with bank account opening.
Documents Required for RAK Offshore Company Formation
Individual Shareholder(s):
- Passport copy of each shareholder and director
- Proof of residence (utility bill or tenancy contract)
- Bank reference letter
- Passport-sized photograph
Corporate Shareholder(s):
- Certificate of Incorporation
- Memorandum and Articles of Association
- Board Resolution authorizing company formation
- Certificate of Good Standing (if applicable)
Note: RAK ICC reserves the right to request additional documents or information as part of the company formation and due diligence process.
Why Choose InZone?
At InZone, we specialize in RAK Offshore company formation through RAK ICC and take pride in being recognized as the Top Partner Agent by RAK ICC for four consecutive years. The award bears testament to our consistent performance and unparalleled expertise in helping our clients set up a company in the UAE.
Join over 30,000 happy clients who have trusted our decade of expertise for their business setup requirements.
By partnering with InZone, you benefit from:
- Expert consultants with deep knowledge of offshore company setup in Dubai and across the UAE.
- Comprehensive accounting and bookkeeping services in UAE.
- Assistance to open a bank account with top local and international banks.
- Assistance with securing a Dubai business license or a license for any other jurisdiction in the UAE.
Register Your RAK Offshore Company Today
Choose from four packages designed to match your offshore setup needs
- Government fee covered
- Certificate of incorporation
- Memorandum and Articles of Association
- Premium address in Dubai, Business Bay
- Resolution to appoint director(s)
- Dedicated agent for 1 year
- Gold includes everything in Silver, plus:
- Basic assistance with bank account opening with limited banks
- Share certificate(s) issued in the name of each of the shareholders of the company
- Dedicated company secretarial services
- Platinum includes everything in Gold, plus:
- Company stamp
- Company letterhead
- Assigned premier service agent throughout the year who will respond to you with priority
- VIP includes everything in Platinum, plus:
- Fast-tracked application filing with RAK ICC
- 360° corporate banking assistance (including compliance profiling & customized applications for UAE and offshore banks)
- Exclusive multiple currency accounts with international debit and credit cards
- VIP personal bank account opening
The bank account will be opened based on the client's personal profile and company details, subject to bank approval.
Key Features
These are the key features of RAK Offshore
| RAK Offshore | RAK Offshore functions under the administration of the RAK International Corporate Centre (RAK ICC) |
| Ownership | 100% foreign ownership is permitted, and there are no requirements for having a UAE national as a local partner |
| Paid-Up Capital Requirement | No paid-up capital requirement |
| Time Zone | Convenient world time zone: GMT+4 |
| Office Space Requirement | Not required |
| Minimum Shareholder Requirement | RAK offshore company requires a minimum of 1 director and 1 shareholder |
Frequently Asked Questions
Here are the answers to some of the most common questions related to company setup at RAK Offshore:
RAK ICC offshore companies can only be incorporated through registered agents. InZone is a registered agent with RAK ICC and offers cost-effective and efficient UAE offshore company formation services to its clients. Once we receive instructions from our clients, we integrate the offshore company/IBC within 5–6 working days.
The following types of offshore companies can be incorporated with RAK ICC:
- Company Limited by Shares – most commonly used.
- Company Limited by Guarantee
- Restricted Purposes Company
- Segregated Portfolio Company
- Unlimited Company
Yes. However, the name of a liquidated company may only be permitted for use after the expiry of a period of 3 years from the date of liquidation of the relevant company.
No. The name of a RAK offshore company is only approved with a suffix as per the regulations.
No. Bearer shares are not permitted under RAK ICC regulations.
Yes, a RAK ICC company is permitted to hold treasury shares. However, all rights and obligations that are attached to any treasury shares are suspended by or against the company while the company holds shares as treasury shares.
Yes. RAK ICC companies are permitted to issue bonus shares, partly paid shares or nil paid shares.
An offshore company at RAK ICC is permitted to issue shares with and without par values. Further, the issuance of fractional shares is also possible as per the regulations.
The shareholders and directors continue to remain liable towards a struck off company. The company continues to exist until it is liquidated as per the regulations.
Yes. RAK ICC allows companies formed in other offshore jurisdictions to transfer their domicile or migrate into RAK ICC jurisdiction. The company being transferred will not cease to exist. You can move the offshore company from any jurisdiction where there have been any changes in rules and regulations.
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