Ras Al Khaimah International Corporate Centre
RAK Offshore
Ras Al Khaimah International Corporate Centre (RAK ICC) for Offshore Company Formation.
Highgate Business Management Consultants is here to provide you with expert guidance on how to incorporate your international company with Ras Al Khaimah International Corporate Centre (RAK ICC). RAK ICC has developed several unique regulations for incorporating international companies, which operate similarly to offshore companies. The regulations state that incorporation of international companies must be processed through a registered agent. Licensed accountancy and law firms are authorized to provide services to clients for registering international companies or international company formation, their registered office and act as the agents for the companies. Our experienced business setup consultants can assist you with RAK Offshore company formation and guide you through the entire process.
Salient Features of International Company Formation in RAK ICC:
- Your company formation UAE will have a limited liability status, and the possible name suffixes are ‘Limited’ or ‘Incorporated.’
- Companies can be formed with a minimum of one shareholder, and there is no restriction on the number of shareholders.
- International company formation will require a minimum of one director, and there is no restriction on one person assuming these offices or exercising the said capacities.
- Corporate director and shareholder are allowed.
- Company formation UAE requires no minimum capital.
- Shares can be of different classes.
- Shareholders and directors are not required to be personally present before the authorities for incorporating the company but will need to be present before the registered agents to sign the relevant documents.
- Provision for the shareholders/members to apply the applicable law of their choice.
- Requirement to have an approved registered agent either within the Free Zone or outside the Free Zone but within UAE.
- International trade is allowed.
- Business company regulations have the provision to reserve the company name during the pre-incorporation period, subject to a maximum of 90 days and by paying the prescribed fee.
- No personal or corporate income tax.
- Foreign names and characters may be included in the company’s name subject to the approval from the authority.
- It is not mandatory to submit the accounts audited on an annual basis. However, it should be maintained annually.
- The international company formation will not be entitled to any residence visas in the UAE.
Benefits of International Company Formation
- You will have access to legal consultants, lawyers, accountants, and auditors in UAE.
- You can have a bank account in UAE.
- You can become a shareholder in a new or existing company in UAE.
- You can hold shareholder and director meetings within UAE.
Restrictions on International Companies
- International companies cannot do business with persons in the Zone.
- International companies cannot have a banking business.
- International companies cannot have an insurance or re-insurance company, insurance brokers or insurance agents.
- International companies cannot have any business company regulations that are prohibited by the authorities.
Suitable Uses for International Company Formation
- International trading
- To act as a holding company and to hold investments either in UAE or foreign countries
- For holding properties in foreign countries and certain properties in UAE
Restrictions on International Companies:
In summary, incorporating an international company with RAK ICC provides several benefits, and with the guidance of the Highgate Business Management Consultants, the entire process can be completed smoothly. Contact us today to get started!
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