How To Start Offshore Company Setup In RAs Al Khaimah (RAK)?
RAK OFFSHORE COMPANY SETUP
A RAK Offshore company can best take benefit of those treaties. However, all UAE Offshore companies or other companies must follow United Arab Emirates law, RAK International Corporate Center (RAK ICC Offshore) can choose which law should be applicable for arguments, inheritance, and any other legal matter (the chosen law must be cited in the Memorandum and Articles of Association). A RAK offshore company can hold shares in “onshore” Dubai company (such as Dubai LLC company) or any other legal entity globally. A RAK International Corporate Center (RAK Offshore Company) can also own real estate property (such as freehold properties) in the UAE. A RAK offshore company can hold a bank account in Dubai UAE, for the use of carrying the day-to-day operational transactions and other related persons carrying out business. A RAK offshore company does not allow to carry out business with UAE residents or conduct any trade-in RAK Free Trade Zone and the UAE unless it has obtained a suitable license from the concerned authorities.
The introduction of the RAK offshore Company does not involve any major changes in the current key advantages of an offshore company in UAE. RAK Offshore companies, same as before, remain totally Zero from taxes. Same as previously, there is no requirement to submit an audit report, whereby the UAE offshore jurisdictions are broadly known and recognized as highly respected for registration of offshore companies for international businesses. There will be no substantial changes for the existing companies incorporated under RAK Offshore, so those companies can still operate the same as earlier.
BVI COMPANY FORMATION
The British Virgin Islands (BVI) are a chain of 60 islands, located in the Caribbean Sea 90 miles east of Puerto Rico. The BVI is the world’s largest company formation center. It was one of the first offshore centers to target the market for international business companies (IBC). There are over 1,000,000 Companies registered in the BVI making it the number one ranked offshore jurisdiction by volume of incorporated companies.
Licensing There are no restrictions on the business or activities of a company, however, a license is required if the company is embarking in areas such as banking, trust, insurance, third party company management, mutual funds, or any other such regulated business activity.
- All Income is tax exempted
- No Personal or Corporate tax
- No capital gains or withholding tax
- No annual reporting or auditing is required
- The company can be incorporated in a day
Bizgate will help you in company name approval, an offshore company with a local bank account, registered address and Documents required for incorporation, etc.
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Mainland Company Setup
Possible to operate from UAE
No Capital requirements
No currency restrictions
Employment visa processing made simple
Repatriation of profits and capital
No audit requirements
Minimum responsibility and maximum benefits
Single person can open up an LLC
The maximum number persons or employees an LLC can have is 50
Corporate bank account in UAE
Presently, there is no requirements to deposite the share capital in UAE local bank.
Draft the MOA and AOA
Help in obtaining approval from DED
Registering the company name
Acquiring out an office space