Today, RAK offshore company setup is considered a great opportunity to start a new business internationally. If you don’t know, RAK was the first city to start the registration for international business companies in the UAE. Moreover, it is one of the most advanced emirates of the 7 others in the country. You get the best security facilities and privacy. Additionally, you get the freedom to conduct various business activities within and outside the United Arab Emirates.[caption class="snax-figure" align="aligncenter" width="1140"][/caption]
If you are interested in RAK offshore company setup, you must connect with a business consultancy that can guide you at every step and make the process easier for you. RAK offshore company setup is one of the most preferred choices to invest in offshore companies in the UAE. Also, it provides strong banking security and privacy. The government body for RAK offshore company setup is Ras Al Khaimah Investment Authority (RAKIA) and it offers numerous benefits.
12 Major Benefits of RAK Offshore Company Setup
Many people get easily confused between an offshore company set up and a Free zone company setup in the UAE. However, they are very different. A free zone company is a legal body that operates within its registered authority and an offshore company is allowed to conduct business internationally. 12 major reasons why entrepreneurs’ first choice is RAK offshore company setup are as follows:
1. RAK is your gateway to the international market and corporate circle.
2. It has a stable, profitable, and business-friendly legal system.
3. Get proper security services for various assets like intellectual property and more.
4. You don’t have to worry about the availability of global funding.
5. Enjoy total tax exemption with RAK offshore company setup.
6. You have permission for retention of capital, profits, and international earnings.
7. The rules and regulations are flexible for RAK offshore company setup.
8. RAK offshore company setup needs just one shareholder, director, and secretary.
10. Enjoy zero restriction on citizenship.
11. There is no residency limitation.
12. With RAK offshore company setup, you get to enjoy the highest level of privacy and confidentiality.
Steps for RAK Offshore Company Setup
The process for RAK offshore company setup is quick and simple. Moreover, there are limited steps involved. Follow the given steps and you can complete the process in a matter of just 6 to 7 working days.
1. Start with deciding the business activities for your company. The UAE government offers more than 1500 business activities to choose from. This gives you the freedom to explore different areas. Also, you can opt for up to 10 business activities on one license. Additionally, if there is any activity that you would like to conduct and it is not mentioned on the list, you can simply apply for external permission.
2. Then select a suitable name for your company. Furthermore, get it registered with the governing body. Before submitting a final name, make sure that it is not the same as any other established company. Also, it should not have any foul or offensive words. It is important to mention the legal structure of your company towards the end of the name. (Ltd. Pvt.) If the name complies with all the legal name guidelines, it will be approved in a day.
3. Collect all the important documents and attach them to the application. Also, once you are sure about all of them, sign and submit them to the registrar at RAKIA.
4. Next you pay the one-time registration fee to the government and additional incorporation expenses. Make sure that you pay the fee in full within 30 days of receiving your trade license. If you fail to do so, there are high chances of the government canceling your license.
5. Open a corporate bank account and you can start your business operations. A corporate offshore bank account will help you in making smooth financial transactions throughout and keep a proper record.
All You Need to Know About RAK Offshore Company Setup Cost
The RAK Offshore company setup cost can be approximately AED 4,000. This may include incorporation certificate services, drafting of Memorandum of Association and Article of Association, and documents of the company head office. Additionally, a few packages also involve the preparation of resolutions of board members and share certificates.
List of Documents Required for RAK Offshore Company Setup
Though there are not many documents needed, if you are new to the process, it is better to take help from company formation experts to avoid any mishaps and successfully submit documents on time. Below mentioned is the list of required documents for the RAK offshore company setup.
1. Copies of passports of you and your business partners.
2. A reference letter from the bank, addressed to RAK Offshore Authority.
3. Also, any residency proof, like a utility bill or national ID.
4. Bank statement of last 6 months of the company.
5. You will also need the CV of the shareholders of the offshore company.
6. A photocopy of your business license and company incorporation certificate.
7. Certificate of Good Standing
8. Memorandum of Association and Article of Association.
9. Furthermore, get the shareholder’s resolution ready.
10. Copies of visas of all the directors, shareholders, and employees.
11. Company incumbency certificate.
Start Your RAK Offshore Company Setup with Shuraa!
If you are looking for a simple and quick way to get hold of the international business market in the UAE, RAK offshore company setup is a cost-friendly and stable option. You can connect with company formation experts at Shuraa Business Setup who can make the company setup process seamless. Moreover, we will guide you at every step. From helping you draft a proper business plan, gathering all the documents, to acquiring required permissions and approvals for you, we will take care of it all. Additionally, we can do all of that for you at a very low RAK offshore company setup cost. All you need to do is call us and tell us your business requirements.
Moreover, get to grow your business with the right advice. You can reach out to our experts at +971 44081900 or drop a WhatsApp message on +971 507775554. For assistance via email, please write to us at info@shuraa.com.
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