GSL / Offshore and International Law / Offshore zones / Middle East / United Arab Emirates / Ras Al Khaimah / United Arab Emirates: Offshore Company in Ras Al Khaimah (RAK)

Offshore Company Registration in Ras Al Khaimah (RAK) - Business Starting & Setup

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Service packages
Express
Standard
Optimum
Company registration
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Legal address per year
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Secretarial services for the first year
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Fees and duties for the first year
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Apostilled bound set of incorporation documents
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Compliance fee
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Nominee service per year
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Bank Account Pre-approval
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Price
3 800 USD

4 940 USD

5 440 USD

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Registration of an Offshore Company in Ras Al Khaimah (RAK)

Emirate of Ras Al Khaimah

Ras al Khaimah is an emirate located in the north of the UAE. Establishing an offshore company there became possible in 2006 after the adoption of the International Business Companies Regulations 2006.

Company Name

  • Can be in English or Arabic.
  • Must not be identical or similar to the name of an existing company.
  • Must have an ending indicating the legal form.

Company Registration

Offshore company registration in Ras Al Khaimah includes the following steps:

  1. Select a company name to be checked for availability and the structure of the company (directors, members);
  2. Pay fees for services;
  3. Provide the documents for directors/shareholders (documents must be translated into English, certification of translation by a notary or professional translator is not currently required, documents should not be older than 3 months);
  4. Prepare and submit a set of documents for company registration, get the documents signed by the officers and shareholders of the company;
  5. Receive the certificate of registration, articles and seal in the specified address.

Confidentiality

The UAE does not have public company registries that would contain details of shareholders or directors. Information about free zone companies can only be obtained at the request of a local court.

The register of shareholders and directors of the company is not accessible to third parties.

Local Registered Office

An offshore company cannot rent an office in the UAE and, unlike a resident company, cannot be used to obtain visas for its employees or directors. An offshore company can own real estate located in free zones, and the list of such zones must be specifically approved by a special state agency – RAK Investment Authority.

Seal

Сompanies are required to have a common seal.

Redomicile

The redomiciliation of companies either to or from the UAE is permitted.

Company structure

Directors

The directors of the company can be any individuals or legal entities (except private foundations or trusts), regardless of citizenship / country of registration.

Secretary

No secretary is required.

Shareholders

The shareholders of an offshore company can be any individuals or legal entities (except private foundations or trusts), regardless of citizenship / country of registration, and the company is not required to have local shareholders.

Beneficiary

Despite that many jurisdictions consider creating a public register of beneficial owners, the UAE does not have one yet. This means that there is no open access to the beneficial ownership information. It is stored by a service provider, namely a company registration agent, trustees, lawyers, accountants and other professionals, subject to strict confidentiality. Information about the beneficial owner can only be disclosed to regulatory authorities (for example, during inspections for its availability) or by court order.

Share Capital and Shares

The minimum authorized capital is AED 1.000 (appr. USD 275), but there is no deadline for its payment. A company can have par value shares (in any currency) or no par value shares.

Core Services

— Incorporation

Price3 800 USD

— Corporate legal services

Price3 200 USD

— Assistance with bank account opening

Price2 500 USD

Irrespective of the outcome of application

—Delivery of documents by courier mail

Price160 USD

DHL or TNT, at cost of a Courier Service

Nominee Director

Price1 140 USD

Paid-up “nominee director” set includes the following documents

Nominee Shareholder

Paid-up “nominee shareholder” set includes the following documents

Compliance fee

Compliance fee is payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of director / shareholder / BO (except the change to a nominee director / shareholder)

Basic

Price150 USD

simple company structure with only 1 physical person

For legal entity in structure under GSL administration

Price50 USD

additional compliance fee for legal entity in structure under GSL administration (per 1 entity)

For legal entity in structure not under GSL administration

Price100 USD

additional compliance fee for legal entity in structure NOT under GSL administration (per 1 entity)

For client with high risk Status

Price250 USD

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