Advantages of Opening a Company in UAE Offshore
- Tax Benefits: Offshore companies in the UAE enjoy significant tax advantages, including exemption from corporate taxes, income taxes, and customs duties, making it a highly attractive option for businesses.
- Confidentiality and Asset Protection: UAE offshore jurisdictions offer a high level of confidentiality, ensuring that your company’s assets and operations remain secure and private.
- Ease of International Trade: Offshore companies benefit from the UAE’s strategic location, allowing easy access to key global markets in Europe, Asia, and Africa.
- Minimal Reporting Requirements:Offshore companies in the UAE are subject to fewer regulatory requirements, such as no mandatory audit or accounting, simplifying administrative responsibilities.
RAK ICC Offshore Company with Multiple Shareholders:
The requirements may change from zone to zone and depending on the Activity or Industry chosen. But here is a quick snapshot of the basic requirements for the Ras Al Khaimah region: :
RAK ICC Offshore Company with a Single Shareholder:
- Notarized Passport Copies: A certified copy of the shareholder’s passport.
- Bank Reference Letter: A letter from the shareholder’s bank addressed to the RAK Offshore Authority.
- Proof of Residency: Evidence of the shareholder’s current residential address.
- Curriculum Vitae (CV): A detailed resume of the shareholder.
- Bank Statement: A statement showing the financial status of the company for the last six months.
- Starting Cost:The initial cost for setting up a RAK ICC offshore company vary between AED 7,500 to AED 18,000, depending on the industry, and region of operation. REACH OUT TO GSS Corporate Service Providers for an estimate today
Steps in Setting Up Your Offshore Company in UAE Offshore
- 1. Select Your Company Name & Activities:Begin by defining the business activities your RAK ICC offshore company will undertake and choose a unique, appropriate name for your business.
- 2. Consult a Registered Agent: Engage with a registered agent, such as GSS Corporate Service Providers LLC, to act as your intermediary with the government and facilitate the registration process for your Offshore Company.
- 3. Submit Application Documents: Gather all required documents based on your company type and submit them to the appropriate authorities for processing.
- 4. Make Required Payments: Pay the registration fees and any associated costs online, via cash, or through bank transfers. After completing the necessary payments, await the incorporation of your Offshore Company.
- 5. Open Your Corporate Bank Account: Set up a corporate bank account to manage finances effectively and ensure smooth operations for your offshore company.
