Offshore company formation in Ras Al Khaimah – What are the business advantages in company formation in Ras Al Khaimah?
Company Registration in Ras Al Khaimah:
Ras Al Khaimah is one of the seven Emirates of UAE. The free trade zone of Ras Al Khaimah is one of the most preferred locations for offshore company formation in UAE. Currently there are more than 8000 companies in Ras Al Khaimah free zone. You can also open an offshore company in Ras Al Khaimah free zone. It’s an easy process. Ras Al Khaimah free zone offers guarantee for the privacy of company owner and freedom of business operation.
Ras Al Khaimah Economic Zone (RAKEZ)
Based in the heart of Ras Al Khaimah and guided by the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, United Arab Emirates Supreme Council Member and Ruler of Ras Al Khaimah, Ras Al Khaimah Economic Zone (RAKEZ) was established to oversee and consolidate the specialized parks and clients of both Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA).
Based in a strategic location, Ras Al Khaimah Economic Zone connects investors to growing markets of the Middle East, North Africa, Europe as well as South and Central Asia which make RAKEZ ideal for offshore company formation.
RAKEZ is committed to its promise of empowering clients and investors by offering a cost-effective and world-class economic zone with customizable packages and services as well as state-of-the-art facilities.
Business advantages in company formation in Ras Al Khaimah:
- Fast and simple registration procedure.
- 100% foreign ownership.
- Provides 100% income and corporate tax exemption.
- Yields 100% capital and profit repatriation.
- Fast procedure to issue UAE residencies and visas.
- Less restrictions on labor.
- Avail state-of-art infrastructure.
- No currency restrictions.
- Nil customs duty.
- Excellent airport and seaport availability.
- Transparent laws and regulations.
- Furnished offices and warehouses.
- Provides variety of real estate facilities to meet out individual start up needs.
Company formation in RAKEZ:
- Branch of a Local Company.
- Branch of a Foreign Company.
- Free Zone Company (FZC) – entity with 2 to 5 shareholders
- Free Zone Establishment (FZE) – entity with one shareholder.
RAKEZ Business Licenses Types:
- General Trading License: Permits the companies to store, distribute and import all goods as per the rules and regulations of RAKEZ
- Commercial Trade License: Allows products trading specified in the license subject to the RAKEZ regulations
- Service License: Enables the registered entity to carry out specific services like business consultants, lawyers, and accounting firms.
- Industrial License: Permits the raw materials import, carries out the specific products manufacture, assembling, exporting, and packaging the finished goods to any country.
Procedures for offshore company formation in Ras Al Khaimah:
SELECTING REGISTERED AGENT
First of all, you have to select a registered agent. Remember only a registered agent can register a RAK Offshore.
SELECT YOUR COMPANY NAME
Think at least 3 names for your company. Now give these names with first, second & third priority to your agent. Agent will check the availability of name with the authority. If the names are available you can go ahead. If none of them is available you have to think another three names.
SUBMIT THE DOCUMENTS
Get ready with your documents, for drafting the offshore company incorporation documents. Two options are available for aspirants.
First Option you come to UAE with an original proof of residence (any utility bill water, electricity, telephone or LPG bill with your name and address on it),a bank reference letter from the bank where you are currently holding your personal bank account. Now provide your passport copy specially the page with UAE entry stamp, original bank reference letter and residence proof (original utility bill because the authorities does not accept photo copy of bank reference letter & residence proof) and a short resume to your agent.
Second Option for you, in case if you don’t want to come to UAE, Contact the UAE embassy in your home country, they will attest your passport. Now send a copy of attested passport, bank reference letter and residence proof and a short resume to your agent. The agent has all the rights to process the application without your presence.
SIGNING AND SUBMISSION OF OFFSHORE COMPANY INCORPORATION DOCUMENTS
Once you have submitted all the documents, now its agent’s responsibility to incorporate the company. After receiving the complete set of document the agent will draft AOA &MOA (Article and Memorandum of Association) & other mandatory papers. He will process your application. Authorities will take a week’s time to cross check all the given information. Once the authorities are done with the exercise of cross check and security check they will issue a certificate of incorporation.
OPEN BANK ACCOUNT
After receiving the certificate of incorporation your agent will support you in opening a bank account. The bank will need a copy of the certificate of incorporation plus a copy of company’s MOA (memorandum of association), residence proof & copy of your passport. Bank account opening can take time up to 2 weeks. Now your company is free to do business in all over the world.
How can Biznet Consulting assist in a time and cost-effective offshore company formation in Ras Al Khaimah?
If you are looking for reliable business setup services in UAE, Biznet Consulting offers a well-researched, professional, and affordable array of services to its clients.