Advantages Of Setting Up A Offshore Company In RAK
RAK or Ras Al Khaimah is an important federation that consists of 7-emirates that are located alongside the Arabian Peninsula’s south-eastern tip. When it comes to business, RAK is a great Arabian destination for having an offshore company.
Forming an offshore company here is cost-effective as well as secure compared to Dubai. Offshore companies enjoy benefits like total foreign-ownership, tax exemption, and more. Need more convincing? So here are the major advantages of engaging in a RAK offshore company setup:
- Gateway: RAK is the gateway to the international market. It is business-friendly and has a stable legal system. You will find that there are multiple ways to get global findings here. Along with this, there are also protection tools concerning invisible assets like intellectual property.
- Bank accounts: In RAK, companies will be able to hold various bank accounts and that too in different kinds of currencies to ensure that their international trading or business goes well.
- Ease of incorporation: Know that it’s very easy to register a company for RAK as all you will need is one shareholder, one director, and one secretary. All of them can even be just one person. Moreover, there’s also no restriction present on citizenship. You will get to enjoy all these benefits along with the highest level of confidentiality as well as privacy that’s afforded to a RAK offshore business.
- Retention: A great benefit of engaging in a RAK company formation is that you will be able to retain the profits, capital, and international earnings. Offshore companies over here enjoy full tax exemption. In short, a lot of regulations and rules are flexible over here. They have the proper freedom needed to get hold of shares of a Freezone business as well.
- Documents needed: The number of documents needed to set up a company with one shareholder in RAK is less when compared to that of other places. In RAK you will mainly need passport copies, residency proof (municipality certificate or utility bill), and an original bank-reference letter that’s addressed to a RAK offshore relevant authority. Note that along with this you will also have to present the CV of the shareholder of your offshore business as well as the company’s bank statement for the previous 6 months.
As such, having an offshore company at RAK will allow you access to unprecedented benefits. All these will help your business flourish. The tax exemptions, retention of profits, flexible rules, and multiple bank-accounts will ensure that you can carry out your business smoothly. So if you want to set foot easily into the international market then an offshore company at RAK is the best possible way to make it happen.