This and many other benefits of IBC RAK Offshore make it one of the more cost effective entities that investors can incorporate in the UAE. IBC can have non UAE nationals as the owners and are exempted from any form of tax (sales or income). However they cannot conduct business within the UAE.
Complete ownership, flexibility of operations and relatively low set up costs are just some of the features offered by the RAK Offshore Company Incorporation . As there are no sales or income tax and running cots, an offshore company has the ability to retain more profits without the need of placing an risk on any assets.
RAK Offshore offers firms and individuals a wide variety of services and structures that are committed to non-residents. Some of the main businesses of many international firms that are registered with RAK Offshore are related to real estate and property investments. RAK has been able to create effective infrastructure projects and polices that are able to provide international firms the best environment for their offshore companies.
Thousands of companies worldwide have opened an offshore company in RAK . Some of the main benefits of a RAK Offshore Company Incorporation are:
- RAK has flexible legislation
- It provides necessary communication and banking services
- 100% foreign ownership
- No corporate or income taxes
- The process of incorporating a company is hassle-free
- A Double Taxation Avoidance Agreement is signed by the UAE with over 40 countries
- They can Trade with anyone or company outside of the UAE
- They can own property in the UAE
- Offer professional and international services
- Holding Company
- Shipping and Management Companies
- Commission Agents
A RAK offshore company requires a minimum of one Director (the company is also allowed to have corporate directors) and they can have complete confidentiality as the public will not be permitted to access any information on the directors. Directors will be needed during the incorporation of the company, after this point the directors will be chosen and elected by the shareholders. Shareholders can act as a directors and secretary (which is also a requirement for the offshore company).