RAK Offshore Company Formation
RAK Offshore companies
RAK Offshore companies are used for a variety of business purposes, ranging from operating a bank account in Dubai for international business, owning overseas financial and real estate assets, inheritance planning, setting up holding companies and special purpose vehicles, ship registration and tax optimisation.
An offshore company in Dubai provides businesses with a number of distinct advantages, both in terms of taxation, capital requirements and privacy.
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Advantages of RAK Offshore Companies
- UAE is a “real” country with a “real” economy
- UAE is not a dependent or “overseas” territory of another country and is white-listed
- UAE has Double Taxation Avoidance Agreements with several countries, nowadays more than 47
- Absolute privacy, confidentiality and protection of assets and information
- 100% foreign ownership. No need for a UAE national shareholder or sponsor
- A single person can act as a director, secretary and shareholder
- RAK offshore companies are exempt from all corporate and income taxes
- No filing or Annual General Meeting (AGM) requirements
- No foreign currency restrictions
- Full repatriation of profits and capital allowed
- No requirement for an onshore office, employees or related costs
- Ability to maintain bank accounts in Dubai
- Ability to own real estate assets in Dubai and the UAE
- Ability to own intellectual property, such as patents, trademarks and copyright
- No capital requirements
- Ability of re-domiciliation into or out of RAK jurisdiction