Offshore company formation in Dubai - UAE

Advantages

Advantages of forming a company in Dubai (UAE - United Arab Emirates):

No taxes of any sort and no tax department (except for the oil-producing companies and branches of foreign banks)
No filing of account or auditing
No taxation information exchange agreements with other countries
No public record of directors and shareholders

100% foreign ownership allowed
Highly flexible and confidential banking system geared to the requirements of high net-worth international investors
Strong legislation which protects the confidentiality of investors
The client is not required to visit UAE to incorporate the company

Type of the company

International Business Company (IBC)

Note

IBC can only have customers and suppliers outside UAE

Shareholders

Minimum one. Corporate Shareholder is permitted. Not listed in a public register.
The par value of each share must be AED 1000. Bearer shares are permitted.

Directors

Minimum one director (corporate director’s allowed). Not listed in a public register.
A local registered office is required.

To commence company incorporation, the following supporting documents are required; unless otherwise indicated COPIES are acceptable:

SHAREHOLDER

Natural person shareholder/s:

SHAREHOLDER

Corporate shareholder/s:

Certificate of Incorporation (COI)
Memorandum & Articles of Association (MoA&AoA)
Passport copy of the directors
A bank reference letter, if available; Instead: (1) CoI, COGS/CoINC, MoA&AoA, of all entities up to the UBOs + reference letter of a BANK in respect of the UBOs + and (2), if ultimately held by a trust or foundation, a notarized document is needed showing the UBO’s (>25% ownership)

Certificate of Good Standing (CoGS) or Certificate of Incumbency (CoINC) less than 5 months old
Board resolution calling for the establishment of an International Company specifying the person entitled to sign the MoA & AoA (notarized)
Passport copy of the person entitled to sign the MoA&AoA & appoint reg agent (with UAE entry stamp if signed in the UAE)

Opening an offshore bank account

We offer you the service of assisting in opening a bank account. For more information, please visit our Bank Accounts page.

PRICING

Price List

Full list of optional costs available upon request.

Incorporation costs

Annual fees

Other services

Incorporation costs

Annual fees

Other services

Find out more about what we can do for you…

FAQ

Frequently asked questions

About UAE-Rakic (RAK)

The United Arab Emirates (UAE) is a Middle Eastern country in Western Asia, at the southeast end of the Arabian Peninsula. The country is a federation of seven emirates and was established on December 2nd, 1971. Ras al-Khaimah is one of the seven emirates that make up the UAE. The emirate is in the northern part of the UAE, located less than 100km from Dubai. The United Arab Emirates is a federation of hereditary absolute monarchies. It is governed by a Federal Supreme Council made up of the seven emirs. All responsibilities not granted to the national government are reserved to the Emirates. The International Business Companies (IBC) Registry allows foreign investors to register offshore companies as RAK Offshore, a division of RAK Investment Authority (RAKIA) without the need to establish a physical presence in the UAE. Many jurisdictions are considered only tax havens. The United Arab Emirates is a ‘real’ country with a ‘real economy’.

What is rakic?

RAK launched an offshore facility regulated by the RAK Free Trade Zone (‘RAKFTZ’) Authority International Company Regulations in 2006, which allows for international business to be conducted free of local taxes and regulations. This particular model was based on the international business company regime model followed by the British Virgin Islands. RAK-IC Companies can operate globally with the exception of UAE.

Tax in UAE-RAK

There are NO corporate tax, personal tax, capital gains tax, or VAT in the UAE with exception of oil-producing companies and branches of foreign banks.
No taxation information exchange agreements with other countries. There are no foreign exchange controls.

Nominee service

Nominee Service consists of Nominee Director and/or Nominee Shareholder. Corporate and Individual non-resident Nominees are available in Delaware.

Accounting and audit

The RAKIC must maintain accounting records which should be retained for a period of 7 years from the relevant period/year-end. These accounts are for internal management purposes only and are not required to be filed with the RAKFTZ authorities. The Audit is not required.

List of documents received for standard IBC

Certificate of Incorporation
Declaration of Consent to Act as a Director
Share Certificate
Certificate of Incumbency
M&AA
Board and Meeting Resolutions

Privacy

RAK currently has not entered into any tax information exchange agreements. Details of company directors/shareholders are not available for public inspection.

Corporate name

The company name must not contain the following words and must not pursue listed business activities: BANKING, INSURANCE, and REINSURANCE.
The name of the company must end with “LTD” or “LIMITED”.

Bank account

For UAE-RAKIC we can assist you with the bank account opening in UAE or internationally. The banks we cooperate with are reliable financial institutions with a long tradition in private and corporate banking. Our clients are provided with excellent customer service, online banking, Visa and/or Master cards, and other services, such as factoring, foreign exchange, savings, and specialized banking solutions.

TESTIMONIALS

What our clients say

Serving our clients—including corporations, private equity firms, government organizations—is a privilege.

Call us and we will start the process of opening a company today or schedule a consultation if you have any doubts

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