Characteristics of an offshore company registered in the RAK are as follows:

SHAREHOLDERS	A minimum of one shareholder is required. Corporate shareholders are permitted. Shareholders will decide the capital structure of the Company. Whilst there are no minimum share capital requirements please note that the par value of each share must be AED 1,000. Bearer shares are not permitted. Different classes of shares are permitted and shares have to be fully paid when allotted. Every company shall maintain minutes of all proceedings at general meetings. The Register of Members shall be open for inspection by any member of the offshore company and any other person. It is an offence to refuse inspection commits an offence.
DIRECTORS	A minimum of one director is required and corporate directors are permitted. Details of directors are not available for public inspection.
Secretary	Every Company shall have a secretary.
SECRETARY	Every company must have a secretary.
ANNUAL ACCOUNTS AND AUDIT	Every company must keep accounting records, which must be kept for 7 years from the date on which they were prepared. Accounts must be approved by the directors and signed by one of them. The accounts do not need to be filed with RAKFTZ Authorities
TIMESCALE	Registration of the company in the Free Zone will take 3 working days.
RESTRICTIONS ON NAME AND ACTIVITY	Names must end with Limited or Incorporated. The following words and their associated activities cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal and Trust
LOCAL REQUIREMENTS	As a matter of local company law, the company MUST maintain a registered office address within the Free Zone and appoint an approved registered agent. A registered agent’s office in the UAE or in the Free Zone can also be used as the registered office.

Documents/ Information required for company incorporation (Individual Applicant):

For Individual Applicant:

1. Document showing the appointment of agent. (Will be provided by us)
2. Application form. (Will be provided by us)
3. Applicant personal profile (Short/brief resume/CV)
4. Certified Passport copy with UAE entry stamped page.
5. Original Bank reference letter (Certified by the Banker)
6. Proof of residence by the shareholder (Not later than 3 months-These can be in the form of different utility bills (gas/electricity/water/mobile phone bills), different bank statements or a combination of the two.
7. Power of Attorney (Notarized and Attested) if the POA holder represents the applicant.
8. Few trade names.
9. Details of Directors/Share holders with individual addresses and percentage of share holding of each shareholder.

For Corporate Applicant:

1. Business Plan
2. Application form for offshore company formation (we will provide to you)*
3. Document Showing appointment of Registered Agent.
4. Original Bank reference letter of the company.
5. Copy of Certificate of Incorporation of the parent company, notarized and attested by UAE Embassy in the country of Origin.
6. Copy of Memorandum & Article of Association of the parent company, notarized and attested by UAE Embassy in the country of Origin.
7. Power of Attorney in favour of Manager notarized and attested by the UAE Embassy in the country of Origin.
8. Board resolution to form a subsidiary in Dubai, UAE, notarized & attested by UAE Embassy in the country of Origin.
9. Certificate of good standing of the company notarized & attested by UAE Embassy in the country of Origin.
10. Passport copies, original bank reference letter, Residence proof, CV/profile/resume of the shareholders/directors of the parent Company.
11. Original Bank reference letter of the Authorized representative of the parent company.
12. Proof of residence of the Authorized representative of the parent company (Not later than 3 months- These can be in the form of different utility bills (gas/electricity/water /mobile phone bills).

Note: All the shareholders/POA holders/Legal representative needs to sign the documents in the office of the registered agent of the company.

If you need additional assistance or have any questions, please contact the following:

Email: info@freezonesuae.com

Tel: +971 4 343 8022