Why A RAK Offshore Company Might Be Right For Your Business
Ras Al Khaimah (RAK) has, in four short years, become one of the world’s most desirable destinations for confidential and tax-free business corporation. RAK offshore companies benefit from the ruling and legislation passed in 2007 by the government of Ras Al Khaimah through its RAK Investment Authority (RAKIA), which is RAK’s sovereign wealth ruling body. The laws passed allowed for the new RAK OFFSHORE business entity to make investing there very attractive to overseas and other foreign business owners. By providing RAK offshore companies with several financial benefits and tax advantages their owners can’t get at home, Ras Al Khaimah drastically and immediately improved their economy and position as a discretionary business formation locale. In the first two years alone, this legislation was responsible for the formation of over 2,000 foreign owned businesses.
Geographically positioned very strategically at the Northern tip of the United Arab Emirates (UAE), Ras Al Khaimah provides both onshore and offshore business registration, but it is offshore where this city really shines. Realizing the power and scope of non-UAE finance, RAKIA has put together a set of business benefits that are very desirable, and offer something for every savvy business owner. For instance, now any non-UAE resident may open RAK offshore companies and hold 100% foreign ownership. And incorporating in there is much less costly, and more beneficial, than in nearby Dubai.
Also, all foreign-owned companies are 100% tax exempt. The reason is simple. The UAE has always been Tax-Free by their nature and governance. There is no death penalty tax, no corporate tax, no income tax and no capital gains tax. The fact that the wise legislators in the UAE government and RAKIA extended this benefit to RAK offshore company owners in 2007 was a genius move. It bolsters the local economy, and provides amazing bottom-line benefits for you, the business owner.
But the wonderful benefits of RAK offshore companies don’t stop there. If you are a business owner that doesn’t relish the lengthy plane trip to the UAE, all incorporation can legally be handled through a proxy, you never have to be present. And RAK offshore company formation is simple and speedy, as long as you use a Corporation Specialist who has had a presence in RAK from the beginning of this landmark agreement.
Some other benefits of RAK offshore company ownership are the advantages of non-public disclosure of information, bank account ownership in the UAE, and the ability to buy and own shares in other UAE businesses. The RAKIA employees truly do go out of their way to make RAK offshore company formation profitable and simple, and everything can be handled by a RAK Corporation Formation specialist using local UAE professionals, so you get speedy, hands-off RAK offshore company ownership as soon as possible.
For more information on RAK Offshore, click HERE.