Elevate your business globally by establishing an offshore company in the UAE, especially in the Ras Al Khaimah International Corporate Center (RAK ICC). This move offers you benefits like complete foreign ownership, low tax rates, and access to a dynamic business ecosystem. Ideal for trading, investments, and e-commerce, the UAE serves as a strategic hub for international business expansion.
Here’s How You Can Effortlessly Set Up
An Offshore Company In UAE
Find A Trustworthy Registered Agent
If you wish to set up a RAK ICC-approved offshore business in UAE, seeking the services of a trustworthy registered agent is mandatory. A registered agent assists you throughout the registration process and acts as a liaison between the offshore registering company and yours.
Determine Your Company Type
Determining the type and structure of your company is another crucial step. In UAE, an offshore company can be registered as a Foundation, Limited Company, Holding Company (IHC), and International Business Company (IBC). Upon selecting your company type, it becomes easier to set up goals and objectives.
Give Your Company A Unique Name
While selecting a unique name for your offshore company, it is essential to abide by the guidelines of RAK ICC. Upon choosing a unique name, it can be passed to the registered agent for approval and proceed with the registration process.
Gather Vital Documents
Documents play a pivotal role in registering an offshore company in UAE. The list of documents that must be submitted without fail includes the following:
Registering Your Company
By submitting all the documents approved by the registered agent to RAK ICC, you step closer to the end of the registration process. Once the documents have been approved, your company will be officially registered as an offshore company in UAE.
Open An Offshore Bank Account
Once your company is successfully registered under RAK ICC guidelines, you can proceed with opening a bank account with any corporate bank in UAE and use it for your business’s operations.
Benefits of Registering an Offshore Company
There are many perks of setting up an offshore company in the UAE. From tax advantages to operating multi-currency bank accounts, there are many others to count on:
A Tax Heaven
UAE is recognized globally as a tax haven; therefore, when you set up an offshore company, you enjoy multiple tax advantages. The zero-tax policy exempts 100% income tax.
100% Foreign Ownership
The best part about owning an offshore company in UAE is 100% foreign ownership. Offshore companies registered under RAK ICC can largely benefit from foreign ownership and can also allow full control to the shareholders.
While forming an offshore company, confidentiality is always maintained by not disclosing the personal information of the company owners. This secrecy helps welcome numerous foreign investors who wish to retain anonymity in business dealings.
More Flexibility in Business
Offshore companies in UAE enjoy great flexibility when it comes to welcoming foreign investors. Companies can have residents, non-residents, corporates, and inhabitants as investors or executives.
Access To Global Funding
Establishing an offshore company in UAE is a gateway to international trade. From getting global exposure to carrying out business and transactions using multiple currencies, new opportunities for collaboration and international deals keep pouring in.
No Minimum Capital Requirements
Another significant advantage of an offshore business in UAE is its no set bar for capital requirements. The flexibility given to business owners is commendable.
An Ease Of Setup
Setting up an offshore business in UAE requires minimal paperwork and capital. Registration through RAK ICC is quicker and a straightforward process.
STREAMLINED PROCESS WITH MINIMAL CAPITAL AND SIMPLE DOCUMENTATION
Setting up an offshore company in UAE involves a series of easy-to-follow steps. The documentation required is very easy to gather, and the capital requirements are minimal.
Choosing A Unique Company Name
The name selection plays an integral role in the process of setting up an offshore company. Your company must have a unique and catchy name abiding by the rules and regulations of UAE government registration bodies like RAK ICC
Filling Up An Application Form
The application requires personal details and all the proof of documents that are mandatory to establish an offshore company.
Drafting MOA and AOA
Drafting an Article of Association (AOA) and Memorandum of Association (MOA) is equally important to get familiar with the strict rules and regulations to maintain.
Opening An Onshore Bank Account
The final step after successfully registering your offshore company is opening an onshore bank account that shall be used for your company’s business operations.