RAK Offshore Company Formation Made Easy

Register your RAK offshore company in 3 easy steps and set up a bank account.

100% confidentiality. Set-up your company in the shortest time. Have your dedicated account manager.

Step 1

Get a quick quote

We will send you a quote once you reach out to us with the best price possible

Step 2

Approve the quote/We register your offshore company

Once you notify that you approved the quote will contact you immediately and arrange for a meeting or continue online as per your preferences

Step 3

Receive the service/We deliver corporate documents to you

Once necessary payments done, we will proceed immediately in the required service and will be provided to you in the shortest times

Commercial License Packages

Silver Package

  • Government fee covered

  • Certificate of incorporation

  • Memorandum and Articles of Associations

  • Premium address in Dubai, Business Bay

  • Resolution to appoint director(s)

  • Dedicated agent for 1 year

Gold Package

In addition to silver packages services you get:

  • Assistance with bank account opening

  • Share certificate(s) issued in the name of each of the shareholders of the company

  • Dedicated company secretarial services

Platinum Package

  • Platinum includes everything in Gold, plus:

  • Company stamp

  • Company letterhead

  • Assigned premier service agent throughout the year who will respond to you with priority

NB: The bank account will be opened based on the personal profile of the client and the company. There may be circumstances out of our control and the decision for bank account opening rests solely with the banks.

Timelines

Below are the timelines for setting up a free zone company

in Shams Free Zone, Sharjah.

Step 1 – We prepare your company documents

We will reserve your RAK Offshore company name and prepare the following company formation documents as your RAK ICC registered agents:

  1. Memorandum of association.

  2. Articles of association.

  3. Letter of appointment of director(s) and secretary.

  4. Letter of appointment of registered agent.

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Step 3 – We register your RAK Offshore company

Regular requests: We will submit your company documents to RAK ICC for the formation of your new company. The prescribed timeframe for the registration of RAK Offshore company is approximately three (3) working days.

Urgent requests: If you require urgent service, your company can be formed in one (1) working day with an additional fee of AED 1,700.

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Step 2 – You sign company documents

For UAE residents: You will need to visit our offices in Business Bay, Dubai, United Arab Emirates, to sign your company documents.

For non-UAE residents: We will prepare a specimen signature form which you will need to sign before a notary public in the country of your residence and return in original to us. All other company documents will need to be printed and signed by you at your office/home and returned to us in originals.

  • Important About Your RAK Offshore Company Bank Account

Once your company has been registered, you can open a bank account with any bank offering bank account opening services to offshore companies in the UAE and around the world. We work closely with major banks in the UAE and worldwide. We will provide all coordination and facilitation required for the bank account opening, if you have opted for this service. The process of bank account opening may take between 5-15 working days or more depending on a case by case basis.

About RAKICC and RAK Offshore

What is RAKICC?

  • RAK International Corporate Centre (also known as ‘RAKICC’ or ‘RAK ICC’) is a Government corporate registry in the Emirate of Ras Al Khaimah, United Arab Emirates. RAKICC carries out the registration and formation of international business companies/offshore companies and provides a full range of registration services in connection with the international business/offshore company activity.

  • RAKICC was created through Decree No. 12 of 2015 (amended by Decree No. 4 of 2016) which consolidated two (2) company registries known as RAK International Companies (previously part of RAK Free Trade Zone) and RAK Offshore (previously part of RAK Investment Authority).

  • RAKICC is known as a modern, world class offshore company registration office and complies with international best practices. RAKICC has developed a strong reputation and is considered to be one of the most respected brands for setting up offshore companies in the United Arab Emirates.

  • Quick company formation process

What is RAK offshore or RAK IBC?

The offshore companies set up with RAKICC enjoy the following benefits:

  1. You can open a bank account in the name of the RAK offshore company.

  2. You can own real properties in Ras Al Khaimah and Dubai through a RAK offshore company.

  3. RAK offshore company allows 100% foreign ownership.

  4. RAK offshore company can own shares in a mainland company or a free zone company in the United Arab Emirates.

  5. RAK offshore company offers Zero taxes.

  6. You can establish subsidiary with RAK Economic Zone.

  7. RAKICC offers state of the art legislation which is a cornerstone for any reliable offshore company set up jurisdiction.

  8. RAKICC has robust compliance procedures.

What are benefits of RAK offshore company?

RAK offshore or RAK IBC is usually used as synonym for an offshore company registered with RAKICC in the Emirate of Ras Al Khaimah. Before the consolidation of the corporate registry in 2016, RAK Offshore existed as an independent as part of RAK Investment Authority.

What is the legislative framework for RAKICC?

The legislative framework for RAKICC includes (i) the RAKICC Business Companies Regulations 2016; and (ii) RAKICC Registered Agent Regulations 2016.

Ownership of Real Estate in Dubai with RAK Offshore Company

RAK International Corporate Centre (also known as RAKICC) and the Dubai Land Department have signed an MOU in July 2019 to permit the RAK offshore companies (also known as RAK IBC companies) to directly own real estate in the Emirate of Dubai. This was not previously possible and anyone intending to own real estate in Dubai had to set-up a Jebel Ali offshore company as the only available option.

This arrangement has been welcomed as a landmark development since the vast majority of people looking to set-up offshore companies with the intention to hold real estate can now benefit from far less costly incorporation of RAK offshore companies in the UAE. The cost difference in setting up Jebel Ali offshore and RAK offshore companies is almost AED 9,000 – in favour of RAK offshore. This is a significant difference when compared in the context of the costs that are typically applicable to the incorporation of offshore companies around the world.

The Emirate of Dubai offers more than 23 freehold areas where any foreign national, RAK offshore or Jebel Ali offshore companies can own real estate properties. The most well-known freehold areas in Dubai include Business Bay, Dubai Marina, Downtown Dubai, Palm Jumeirah, Jumrirah Lake Towers, Emirates Hills, Springs, Meadows, Arabian Ranches and Jumeirah Village Circle.

RAK ICC issues no-objection certificates for companies that wish to own real estate in Dubai. The no-objection certificate is required to be presented to Dubai Land Department in order to transfer the property to the company. Our clients are now taking advantage of this opportunity with a world-class company formation services at InZone.

KEY FEATURES

Here are some of the key features of RAK offshore companies

1. RAK ICC

RAK International Corporate Centre (RAK ICC or RAKICC) is a Corporate Registry established in the Emirate of Ras Al Khaimah, United Arab Emirates.

2. Type of Company

International business company that can carry out business internationally or act as a holding company.

3. Information publishing and confidentiality

RAK ICC does not keep any public register relating to company shareholders or officers. This information is kept confidential in accordance with the applicable laws.

4. Requirements for accounting

There are no accounting or reporting requirements for RAK offshore companies.

5. Taxes

RAK offshore companies are exempt from all taxation in the United Arab Emirates.

6. Laws

RAK ICC provides a modern offshore legislative framework. Basis of legislation is the UAE law.

7. 100% Ownership

100% foreign ownership is permitted and there are no requirements for having UAE national as partner.

8. Time zone

Convenient world time zone: GMT+4

9. Paid up capital requirement

No paid up capital requirement.

10. Minimum directors/shareholders

RAK offshore company requires a minimum of 1 director and 1 shareholder.

11. Bearer shares

Not permitted.