Ras al Khaimah (RAK) Offshore Company Formation
RAS AL KHAIMAH (RAK) INTERNATIONAL COMPANY (RAKICC)
RAK International Corporate Centre (RAKICC) is the consolidation of two company registries in Ras Al Khaimah; namely RAK International Companies (formerly a part of RAK Free Trade Zone) and RAK Offshore (formerly a part of RAK Investment Authority). RAK International Corporate Centre (RAKICC) was formed as per the Decree No.12 of 2015 and as amended by Decree No.4 of 2016.
- 100% foreign ownership
- Although all UAE companies follow UAE law, RAKFTZ have allowed the International Company to decide which favoured jurisdiction it wants to be applied for inheritance, disputes or any other matters. The law must be cited in the Memorandum & Articles of Association.
- The International Company can own real estate properties approved by the RAKICC Authorities.
- Despite a general prohibition on International Companies to conduct business with persons resident in UAE, the Authorities frequently allow offshore companies to hold shares in both offshore and onshore UAE companies (i.e. local LLC companies).
- The International Company can hold a bank account in the UAE for the purpose of conducting routine operational transactions and can also maintain professional relations with legal consultants, accountants and management companies or other similar persons carrying out business within UAE.
- Incorporation documents can be signed at the offices of Jitendra Chartered Accountants without having to visit RAKICC.
- The Company will not be allowed to carry on business with people who are resident in the UAE or carry out any trade in the free zone or in the UAE, unless they have first obtained the appropriate license from the relevant competent authority.