Offshore Company Formation
With an array of diversified economies such as manufacturing, tourism, retail and technology with promising industry sectors, Ras al Khaimah has been slowly but steadily developing into an exceptional investment destination.
What is Offshore company formation
A company that is being legally setup to carry out operations outside the registered territory is termed as an Offshore entity. The Ras al Khaimah international corporate center (RAKICC) offers Offshore company formation in UAE.
Why an Offshore business setup in RAKICC?
With its strategic location to ports and considering the proximity to Dubai International airport, registering your company as an Offshore setup in RAKICC, has its own set of privileges that cannot be enjoyed while setting up other companies in UAE. The subsequent points are some of those benefits:
- Offering an access for Global market expansion
- Accessing a more compliant governing system
- A broader path to reach more comprehensive financing aids
- Reduced tax obligation
- No obligation to file accounts with any emirate in UAE
- 100% Ownership and requires no local shareholders
- Multi-currency bank accounts can be held in UAE to carry out global transactions
- Rapid integration of Offshore company approximately within a week, provided all documentation are at par.
- Privacy on Director shareholders details can be maintained, since the particulars are not revealed in public register
- No physical presence needed to register your Offshore company
Points to be taken into consideration - Offshore Business setup in RAKICC
Though RAKICC seems to be a lucrative option, there are few points that we need to contemplate while starting an Offshore business setup.
- Offshore entities cannot operate Business inside any emirate of UAE
- No residency Visa can be obtained through an Offshore company
- Cannot lease Office space inside UAE, in case of RAKICC registered entity
Forming a RAKICC offshore company
- Initial process is to name your entity based on your activity and regional guidelines
- Choose your company activities
- Determine the Company structure or hierarchical structure according to the requirements and activities of your entity
- Submit the necessary Credentials or documents of the Directors or shareholders
- On approval, pay the registration Fees and get your license.
Though the formation of RAKICC setup is considered to be the easiest, a simple error can delay your process in getting the same. At FirstStep we make sure that the entire process is done hassle free and at the earliest for you to start your venture without any worries of mishap.