The International Business Companies (IBC) Registry allows foreign investors to register offshore companies as RAK Offshore
Registration is simple and fast, usually incorporated within 24 hours of submission (subject to time difference). There are no restrictions on IBC formations, any non-resident individual or corporate entity can register a company offshore and IBCs bear the ending of 'Limited' or 'Ltd’ in RAK.
Main features of UAE Offshore Company are:
x It does not need to have physical offices in the UAE
x It may have non-UAE resident as director or shareholder
x It may own real estate in the UAE, with prior authorization from RAK Investment Authority
x It may maintain bank accounts and deposits in the UAE or worldwide
x It is not obliged to maintain its books and records
x It may hold shares in other UAE and worldwide companies
x Complete remote set up
On top of being investor friendly and uncomplicated in setting up, RAK Offshore is also subject to 0% tax rates.
RAK Offshore has also signed double taxation prevention treaties that are aimed at making the UAE a more attractive territory.
At this time, RAK Offshore currently holds double-tax treaties with over 30 countries. These agreements prevent individuals and corporations from being susceptible to paying tax on the same item during the same time period.
Companies that set up in RAK Offshore are entitled to the following:
x Reduced Dividends Tax.
x Exempting Deposits from Tax
x Exempting Capital gains from Tax- 0%
x Exempting national air carriers and shipping companies working in international traffic from taxes and fees
x Exempting Government Sector Establishments from Taxes on Dividends, Interest and Capital Gains
x The Significance of the Tax Agreements to the Foreign Investor and the Investment funds
x Impact of the Tax Agreements on attracting Foreign Investments and capital Movements
x 100% income tax exemption
x 100% corporate tax exemption
X 100% capital and profit repatriation
X 100% ownership in Free Zones
X 0% Withholding tax
The UAE is not a member of the Organization for Economic Cooperation and Development (OECD) and therefore not on the OECD list of tax havens (nor the FATF blacklist).
RAK Offshore has long enjoyed a reputation as a secure, tax-free jurisdiction for international bankingand company incorporation. With international trading benefits, it could be the ideal vehicle for your clients.
For further information on fees and requirements, please contact myself or one of our sales team and we will be happy to supply this to you.
Please do not hesitate to contact myself or a member of our team for further information.
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