OFFSHORE COMPANY IN RAS AL KHAIMAH
A To Z Guide For Company Formation For RAKEZ Offshore Company In Ras Al Khaimah
Overview About RAKEZ Offshore Company
- Ras Al Khaimah Government introduced regulations in 2006 for offshore company formation inside RAKIA.
- In 2017, RAK FTZ and RAKIA merged to form a new entity RAKEZ.
Currently it is known as RAKEZ authority.
- RAKEZ offshore maintains high reputation with international financial authorities.
- 100% foreign ownership is allowed.
- Bank account of an offshore company registered with RAKEZ can be opened in multi currencies.
- RAKEZ offshore company can only be registered through a registered agent.
- Annual audit of an account is not mandatory.
- RAKEZ offshore company is not allowed to rent an office location in UAE.
- RAKEZ offshore company cannot conduct banking and insurance business.
- RAKEZ offshore company is allowed to own real estate.
- RAKEZ offshore companies are allowed to own shares in onshore LLC.
- Names of share holders and directors are not displayed on public register.
- Since 2019, it is mandatory to submit ESR notification for all offshore companies as per ministry of economy.
- Offshore company does not fall under VAT levied by Government.