{"id":2154,"date":"2024-07-15T11:57:43","date_gmt":"2024-07-15T11:57:43","guid":{"rendered":"http:\/\/localhost\/wordpress-6.9.4\/wordpress\/?page_id=2154"},"modified":"2024-07-24T11:32:07","modified_gmt":"2024-07-24T11:32:07","slug":"ras-al-khaimah-offshore","status":"publish","type":"page","link":"https:\/\/bizcorporation.ae\/index.php\/ras-al-khaimah-offshore\/","title":{"rendered":"Rash Al Khaimajh Offshore"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2154\" class=\"elementor elementor-2154\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e8f419 e-flex e-con-boxed e-con e-parent\" data-id=\"7e8f419\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-8e410fd e-flex e-con-boxed e-con e-child\" data-id=\"8e410fd\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-027b719 elementor-widget elementor-widget-heading\" data-id=\"027b719\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 08-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">\nOffshore Company Formation<br>\nin Ras Al Khaimah <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1641e25 elementor-widget elementor-widget-heading\" data-id=\"1641e25\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<p class=\"elementor-heading-title elementor-size-default\">A business-friendly environment to establish your venture here, <br>\nhassle-free and tax-free.<\/p>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3f4bcca e-flex e-con-boxed e-con e-parent\" data-id=\"3f4bcca\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1f78c99 elementor-widget elementor-widget-heading\" data-id=\"1f78c99\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\nOffshore Company Formation in Ras Al Khaimah\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d0eb0a4 elementor-widget elementor-widget-text-editor\" data-id=\"d0eb0a4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 08-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span data-contrast=\"auto\">Offshore companies are an appealing structure that is relatively inexpensive (in comparison to the other types of legal entities available in the UAE) for foreign investors looking to form entities for the purposes of holding capital or assets both inside and outside the UAE or conducting business outside the UAE.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">An offshore firm differs greatly from a free zone corporation in how it does business. An offshore corporation is a legal corporate entity formed with the intention of conducting business outside of the nation in which it was formed and\/or the location of its ultimate ownership.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The following are the key <a href=\"https:\/\/www.shuraa.com\/benefits-offshore-company-dubai\/\">advantages of creating an offshore company<\/a> in the UAE, but they may vary to some extent based on the corporate legislation of the relevant country.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Offshore businesses in the UAE, in general, are not subject to corporate income tax; they provide business flexibility and anonymity at a lower relative cost (for example, an offshore business is not required to maintain an office space; and they provide asset protection for real estate purchased in the UAE).<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Ras Al Khaimah is one of the most important offshore jurisdictions in the United Arab Emirates.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Both are \u201cTax Free\u201d jurisdictions, which means that no UAE corporate or income tax is charged on businesses operating there. They also allow for <a href=\"https:\/\/www.shuraa.com\/100-ownership-of-business-in-uae\/\">100% foreign ownership<\/a> and allow registered enterprises to open multiple currency accounts and conduct business in the UAE<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0a3ae4d e-flex e-con-boxed e-con e-parent\" data-id=\"0a3ae4d\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2621c23 elementor-widget elementor-widget-heading\" data-id=\"2621c23\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\nRAK Offshore Company Formation\n\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-687d3f9 elementor-widget elementor-widget-text-editor\" data-id=\"687d3f9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">The UAE RAK Offshore Company is inexpensive, cost-effective, and well-known in the region. When it comes to international business, RAK is the most cost-effective offshore in the UAE and the greatest alternative accessible because the RAK offshore company registration process is quick and straightforward. RAK offshore companies do not have a physical office in RAK and are not permitted to conduct business in the UAE. However, they can enjoy full tax exemption and full access to firm profits while maintaining complete privacy, confidentiality, and asset and information protection. A registered agent is required for RAK offshore company registration, and his office might be the firm\u2019s registered office.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">RAK offshore is the most prestigious offshore jurisdiction in the northern emirates and one of the oldest offshore jurisdictions in the UAE. Any expatriate entrepreneur or investor wishing to capitalize on the business-friendly climate and growth potential that this special economic zone has to offer should create a RAK offshore company.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Choose <a href=\"https:\/\/www.shuraa.com\/offshore-company-formation-in-ras-al-khaimah\/\">RAK offshore company formation<\/a> to take advantage of the business-friendly regulatory framework, tax breaks, confidentiality, and other advantages provided by this special economic zone. Shuraa is prepared to assist your cause by providing a range of skilled services tailored to your specific requirements. Our outstanding track record places us among the top names in the specialty segment<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-75b3aee e-flex e-con-boxed e-con e-parent\" data-id=\"75b3aee\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cc4bc3f elementor-widget elementor-widget-heading\" data-id=\"cc4bc3f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\n\nAspects of the RAK Offshore Company Formation\n\n\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-089ac29 elementor-widget elementor-widget-text-editor\" data-id=\"089ac29\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ol><li>The process of incorporation is completed quickly.<\/li><li>There is no need for a local office or workers.<\/li><li>The company is entirely owned by foreigners.<\/li><li>There is no tax and no VAT.<\/li><li>There are no import or export duties.<\/li><li>There is no requirement to file accounts.<\/li><li>Excellent reputation for stable jurisdiction.<\/li><li>Maximum privacy and secrecy, as well as asset and information protection.<\/li><li>There are no currency limits.<\/li><li>Possess real estate in the UAE.<\/li><li>Non-residents can own property in UAE free zones.<\/li><li>Open a bank account in the UAE<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dc4d112 e-flex e-con-boxed e-con e-parent\" data-id=\"dc4d112\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-07f6f21 elementor-widget elementor-widget-heading\" data-id=\"07f6f21\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\n\n\nDocuments Required for RAK Offshore Company Formation\n\n\n\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-83abfe0 elementor-widget elementor-widget-text-editor\" data-id=\"83abfe0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><span data-contrast=\"auto\">Copy of shareholder\/investor\u2019s passport.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><span data-contrast=\"auto\">The investor\u2019s curriculum vitae.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><span data-contrast=\"auto\">Utility bill as verification of address.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><span data-contrast=\"auto\">As preferred, trade names<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9bf115f e-flex e-con-boxed e-con e-parent\" data-id=\"9bf115f\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e3b6cc1 elementor-widget elementor-widget-heading\" data-id=\"e3b6cc1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n\n\n\n\n:Governing Legislation for RAK Offshore Company Formation :\n\n\n\n\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-51c65ef elementor-widget elementor-widget-text-editor\" data-id=\"51c65ef\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW24143751 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW24143751 BCX8\">The RAK ICC corporate register was <\/span><span class=\"NormalTextRun SCXW24143751 BCX8\">established<\/span> <span class=\"NormalTextRun SCXW24143751 BCX8\">in accordance with<\/span><span class=\"NormalTextRun SCXW24143751 BCX8\"> Decree No.12 of 2015, which was later updated by Decree No.4 of 2016. The RAK International Companies (previously a <\/span><span class=\"NormalTextRun SCXW24143751 BCX8\">component<\/span><span class=\"NormalTextRun SCXW24143751 BCX8\"> of RAK Free Trade Zone) and RAK Offshore (formerly a part of RAK Investment Authority) merged to form the new registry. RAK offshore company establishment is governed by the RAK ICC Business Companies Regulations 2018 for investors and the RAK ICC Registered Agent Regulations 2018 for registered agents in the UAE<\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-71dd55a e-flex e-con-boxed e-con e-parent\" data-id=\"71dd55a\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1b97a12 elementor-widget elementor-widget-heading\" data-id=\"1b97a12\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\nRAK Offshore Companies' Key Features\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dd37129 elementor-widget elementor-widget-text-editor\" data-id=\"dd37129\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Shareholders <\/strong><span data-contrast=\"auto\">To be given a certificate of establishment, a RAK offshore company must have at least one shareholder. Corporate shareholders are also permitted by the Authority. The capital structure of the company is determined by the shareholders. However, bearer shares are not permitted by the RAK ICC Authority.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Directors\u00a0<\/strong><span data-contrast=\"auto\">To incorporate a business with RAK ICC, at least one director is required, and corporate directors are permitted. However, the identities of the directors are not disclosed to the public.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Secretary\u00a0<\/strong><span data-contrast=\"auto\">Every offshore company formed with RAK ICC must have a secretary.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Annual Reports and Audit <\/strong><span data-contrast=\"auto\">Accounting records must be preserved by every company for seven years from the date they were prepared. The accounting records must be approved by the board of directors, and one of them must sign them. The submission of accounts to the RAK ICC Authority is optional.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Timescale\u00a0<\/strong><span data-contrast=\"auto\">It will take three working days to register the corporation in the Free Zone.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Name and Activity Restrictions <\/strong><span data-contrast=\"auto\">A RAK offshore company\u2019s name must conclude with the suffix \u2018Limited\u2019 or \u2018Incorporated\u2019. However, some terms and activities should be avoided when choosing a name for the RAK offshore corporation. Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal, and Trust are forbidden words.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><li aria-level=\"3\" data-rocket-lazy-bg-553d253e-cba3-4478-9080-5737204ab7c6=\"loaded\"><strong>Local Prerequisites\u00a0<\/strong><span data-contrast=\"auto\">A registered office address and a registered agent are required by local company legislation for a RAK offshore business. The registered agent\u2019s office in the UAE or within the free zone can be utilised as the company\u2019s registered office<\/span><\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-de1e039 e-flex e-con-boxed e-con e-parent\" data-id=\"de1e039\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d40bea7 elementor-widget elementor-widget-heading\" data-id=\"d40bea7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\nDeclaration of the Ultimate Beneficial Owner (UBO)\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-042ec10 elementor-widget elementor-widget-text-editor\" data-id=\"042ec10\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Companies incorporated under RAK ICC are subject to Cabinet Decision No. (58) of 2020 on beneficial owner processes. RAK offshore businesses are required by legislation to report information about Ultimate Beneficial Owners (UBO) to the RAK ICC Authority. In layman\u2019s terms, a UBO is any individual who benefits from a business and has ultimate authority over it.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">According to Cabinet Decision No. (58) of 2020, a UBO is someone who owns or controls 25% of the capital or has voting rights over at least 25% of the shares, or the person who ultimately controls the legal person. To comply with the UBO Law, RAK offshore entities must keep and make public the Real Beneficiary Register (RBR) and Partners of Shareholders Registers (PSR). Apart from handing over the two registers to the RAK ICC Authority, not only running companies but also corporations in liquidation need reveal the UBO information<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-54ef9f3 e-flex e-con-boxed e-con e-parent\" data-id=\"54ef9f3\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d78a434 elementor-widget elementor-widget-heading\" data-id=\"d78a434\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\nEconomic Substance Regulation for RAK Offshore Companies\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21862d6 elementor-widget elementor-widget-text-editor\" data-id=\"21862d6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW94311349 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW94311349 BCX8\">Companies incorporated under the RAK ICC Authority must <\/span><span class=\"NormalTextRun SCXW94311349 BCX8\">determine<\/span><span class=\"NormalTextRun SCXW94311349 BCX8\"> if they must <\/span><span class=\"NormalTextRun SCXW94311349 BCX8\">comply with<\/span><span class=\"NormalTextRun SCXW94311349 BCX8\"> the Economic Substance Regulation (ESR). Companies in the UAE that engage in any of the nine Relevant<\/span><\/span><span class=\"TextRun SCXW94311349 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW94311349 BCX8\"> business setup<\/span><\/span><span class=\"TextRun SCXW94311349 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW94311349 BCX8\"> Activities are subject to ESR. Banking Business, Insurance Business, Investment Fund Management Business, Lease \u2013 Finance Business, Headquarters Business, Shipping Business, Holding Company Business, Intellectual Property Business, and Distribution &amp; Service Centre Business are the nine ESR Relevant Activities. If eligible, such businesses must <\/span><span class=\"NormalTextRun SCXW94311349 BCX8\">comply with<\/span><span class=\"NormalTextRun SCXW94311349 BCX8\"> ESR duties such as filing ESR notifications, submitting ESR reports, and passing the ESR exam. Companies that have gone through liquidation must also conduct an ESR self-assessment<\/span><\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-44f26c2 e-flex e-con-boxed e-con e-parent\" data-id=\"44f26c2\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8880fc0 elementor-widget elementor-widget-heading\" data-id=\"8880fc0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\nRAK offshore company formation cost\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-558f404 elementor-widget elementor-widget-text-editor\" data-id=\"558f404\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-56cb62e elementor-widget elementor-widget-text-editor\" data-id=\"56cb62e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><p><span class=\"TextRun SCXW19876281 BCX8\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW19876281 BCX8\">The cost of a RAK offshore company is always within reach due to the competitive pricing policy of the governing body. The cost of <\/span><span class=\"NormalTextRun SCXW19876281 BCX8\">establishing<\/span><span class=\"NormalTextRun SCXW19876281 BCX8\"> a business at <strong>RAK ICC begins at AED 12,000*<\/strong>.<\/span><\/span><span class=\"EOP SCXW19876281 BCX8\" data-ccp-props=\"{}\">\u00a0<\/span><\/p><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-45e6766 e-flex e-con-boxed e-con e-parent\" data-id=\"45e6766\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\" data-core-v316-plus=\"true\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dd29ca2 elementor-widget elementor-widget-heading\" data-id=\"dd29ca2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">\n?Looking to establish a business in RAK Offshore?\n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a550c31 elementor-widget elementor-widget-text-editor\" data-id=\"a550c31\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">RAK ICC is one of the leading corporate registries in the UAE, with a high demand for offshore company formation. Foreign investors are encouraged to register RAK offshore companies because the RAK ICC Authority has innovative legislation and the resources to meet ESR requirements. Foreign investors who want to set up an offshore company must use a registered agent in the UAE, such as Shuraa.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">Hundreds of businesses have profited from Shuraa\u2019s services, which have been offering high-quality registered agent services in the UAE for many years. We have successfully established offshore corporations in RAK ICC, Ajman Offshore, and JAFZA. As premium registered agents in the UAE, we provide seamless, robust, and inexpensive services to all types of investors<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Offshore Company Formation in Ras Al Khaimah A business-friendly environment to establish your venture here, hassle-free and tax-free. Offshore Company Formation in Ras Al Khaimah Offshore companies are an appealing structure that is relatively inexpensive (in comparison to the other types of legal entities available in the UAE) for foreign investors looking to form entities [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-2154","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/pages\/2154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/comments?post=2154"}],"version-history":[{"count":29,"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/pages\/2154\/revisions"}],"predecessor-version":[{"id":2579,"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/pages\/2154\/revisions\/2579"}],"wp:attachment":[{"href":"https:\/\/bizcorporation.ae\/index.php\/wp-json\/wp\/v2\/media?parent=2154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}