Vytal Corporate Services

Business setup in the Ras Al Khaimah, ICC

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A business setup in the Ras Al Khaimah ICC can be used for several things, such as holding businesses, international trade, shipping, international consultancy, patent management, and ownership of real estate. Recognizing RAK ICC’s unique benefits is essential for entrepreneurs interested in forming an RAK ICC firm. RAK ICC offers a simplified, business-friendly environment that sets it apart from other regions and makes it the perfect place to start and expand an offshore company.

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Key features of business setup in RAK ICC

Confidential

Confidential

Establishing an offshore RAK ICC company ensures privacy. The RAK ICC offshore firms are exempt from publishing financial data or disclosing the personal information of their directors and shareholders in public records. To further improve anonymity, these offshore companies are exempt from audit requirements.

Reduced Liabilities

Reduced Liabilities

Choosing to register a business under the RAK ICC guarantees that the firm's belongings and resources will be adequately safeguarded in the event of legal action. By erecting a legal wall between the company's assets and outside parties, this structure also protects investors' assets.

Tax Incentives

Tax Incentives

The United Arab Emirates imposed a 9% business tax rate in 2023. However, as they are unable to conduct business within the nation, offshore companies, especially those established through business setup in the RAK ICC, are free from this tax. A major financial benefit for an offshore RAK ICC firm is this exemption.

Shareholders

Shareholders

A minimum of one shareholder is required for an RAK offshore company to receive a certificate of incorporation. The authority also permits corporate shareholders. The shareholders decide on the capital structure of the business. However, the RAK ICC Authority prohibits bearer shares.

Excellence Since 2001

Unlocking Opportunities in Dubai and Beyond
Since 2001, Vytal has been the Middle East’s most reputable and top company setup advisor, offering business owners invaluable assistance. Vytal Corporate Service assists with government approvals and other necessary documentation when establishing a business in Dubai. Our shared years of experience with law enforcement and government officials facilitate the formation of businesses.

The Requirements for Business Setup in RAK ICC

For Single shareholder
For multiple shareholders

· Copies of Passport

· Proof of residency

· Curriculum vitae

· Bank Reference letter to RAK Offshore Authority

· Bank statement for the company’s last six months

· An Attested Photocopy of the Applicant Company’s Business

· Certificate of Incorporation or Licence

· Attested Memorandum of Association for the founding of the RAK ICC firm

· Attested Resolution of Shareholders

· Copies of each director’s and shareholder’s passport

· The Good Standing Certificate

· The Company’s Certificate of Incumbency

· The Ultimate Beneficial Owner’s (UBO) Declaration

Regulation Of Economic Substance For RAK Offshore Companies

ESR applies to UAE-based businesses that participate in any of the nine Relevant business establishment activities. The nine activities that are relevant to ESG are the following: banking, insurance, investment fund management, leasing and financing, headquarters, shipping, holding companies, intellectual property, and distribution and service center businesses.

Business setup in RAK ICC with Vytal!

One of the top corporate registrars in the United Arab Emirates, RAK ICC, sees a lot of demand for the establishment of offshore companies. The RAK ICC Authority has the resources to satisfy ESR requirements and creative legislation, which encourages foreign investors to form RAK offshore firms. For business setup in the UAE, foreign investors are required to utilize a registered agent in the United Arab Emirates, such as Vytal.

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Vytal is committed to giving you full support, always focusing on your needs and concerns. Our team is here to provide reliable and caring assistance, building a strong and trustworthy relationship with you.

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