Ras Al Khaimah is one the independent federal emirates that UAE is consist of. If you want to open an international company then RAK gives so many opportunities with low cost and a number of benefits. As many offshore companies often get blacklisted, RAK have never been blacklisted and have good relations with world renowned banks. It provides great opportunities for non-residents to open up an international company with low tax schemes. This is a great site for knowing more about offshore company formation in UAE. Also, it provides protection of assets as well as protection of financial accounts. RAK is also one of the authorities that provide connection between East and West for investors and foreign companies.
Here is a list of benefits and advantages you can have if you have RAK Offshore International Company:
- RAK give complete asset protection in case some intruders want to take up your asset.
- Give the complete text plan and also so the confidentiality of your financial accounts and status.
- It gives your company a platform to make more contacts and exposure.
- Over the period of the time it does not double your company’s tax agreement. Double taxation avoidance agreement is signed.
- The RAK Offshore companies are established in a political and economically stable environment.
- The agreements are based on flexible legislative framework with simple filing requirements.
- Best banking and telecommunication facilities are provided to RAK Offshore International companies.
- UAE does not come under European Union and Organisation for economic cooperation and development. So low taxation jurisdiction is not an issue.
- The tax is low in UAE RAK. Thus, companies do not have to pay a big amount on tax
- The filing system is very basic and the reporting requirements are very few.
- One can also do the trading of their goods over internet.
- If you have family wealth other than your company. Then your family wealth is protected too.
The best suited business that should consider opening up in Offshore International Company includes consultancy Services, basic trading of goods, Commission based companies, companies based on International Services, buying and selling stakes of Companies, joint investment companies and advertising services etc.
For opening up a business in RAK a very simple registration method is followed. Minimum amount of 1000 AED is also approved. You need one director of that business and one shareholder is also accepted. The director should follow the duties as specified by memorandum. RAK free zone authority approves the name of the company.