United Arab Emirates - Ras Al Khaimah (RAK) Company Incorporation

Many jurisdictions are considered only as tax havens. The United Arab Emirates (UAE) has an established history of international trade, finance and business and is one of the fastest growing countries in the world with one of the highest standards of living.

Key Points of a RAK Company

• Director(s) and shareholder(s) may be off any nationality.
• Corporate director(s) and/or shareholder(s)are allowed.
• The director(s) and shareholder(s) do not need to be physically present in the UAE for incorporation.
• Shareholding is allowable in other UAE and worldwide companies.
• No obligation to maintain its books and records.
• Bank accounts and deposits are allowed in the UAE or worldwide.
• To operate a Banking or insurance business you require a special license.
• Real estate may be owned in the UAE, with prior authorization from RAK Investment Authority.
• Business within the UAE is restricted to UAE based companies (LLCs). IBC/RAKs are not allowed to trade with the UAE.
• Physical premises is not required.

Documents and Information

To start incorporating your offshore company in the UAE we require the following:

• Your Company Name
• The Director/s full name, date of birth, address and nationality
• The Shareholder/s full name and address

Documents you are required to provide:

1. Proof of identity. Either passport, national identity card, photographic driving licence
2. Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months

RAK International Company

The RAK International Companies Registry allows foreign investors to register offshore companies as RAK Offshore, a division of RAK Investment Authority (RAKIA) without the need to establish a physical presence in the UAE. RAK companies offer some outstanding advantages over other offshore companies:

• Directors and shareholders are not listed in a public register
• Although the Registrar has to be aware of the identity of the ultimate beneficial owner this will only be released if the courts rule that money laundering was involved
• No requirement to publish annual accounts
• Compared to other types of companies in the UAE, the RAK company allows the highest degree of confidentiality, and is the most flexible
• No taxation whatsoever, no VAT

UAE is a Zero Tax jurisdiction with double taxation and foreign investment protection agreements with selected countries. This ensures the country offers attractive for business and investments. A UAE Company is an excellent, tax efficient corporate vehicle through which international business can be conducted.

Incorporating an RAK Company

After you have submitted the name of your RAK Company to us, we submit an application and proposed company name for an initial approval. We then draft the company's Memorandum of Association, have it notarised by a Public Notary. Deposit the required initial capital in a bank and obtain a bank certificate and submit the documents. File company documents and obtain copies of Trade License and Commercial Registration Certificates. Deliver the copies of the documents and register. The general time scale for a RAK Company is generally 24 hours, but can vary due to pending requests when filing documents withe the UAE registry.

Company Name

Your company name may be in any language provided a translation is approved first. Your company name must contain the suffix: Limited or Ltd. Certain words are prohibited such as names suggesting the patronage of any Government or country.  Name approval process takes less than a few hours, and your name may be reserved for up to 10 days. Simply inform us of your proposed company name and we will ascertain this for you.

Directors

• Directors may be of any nationality and may reside anywhere.
• Only one director is required.
• The names of directors do not appear in public records.
• There is no requirement to appoint a local resident director. 
• Nominee Directors are allowed. Formacompany can provide this service.
• The director can be a person or a corporation.

Shareholders

• Shareholders may be of any nationality and may reside anywhere
• Only one shareholder is required. This can be the same person as the director.
• No upper limit to the number of shareholders.
• Nominee shareholders are allowed. Formacompany can provide this service.
• The shareholder can be a person or a corporation.

Share Capital

There is no minimum share capital required and any capital may be expressed in any currency.

Registered Office

You must have a registered agent and registered office in the UAE. Formacompany can provide this service.