The Company Registry that offers RAK Offshore company registrations is the RAK ICC. This stands for Ras Al Khaimah International Corporate Centre. RAK ICC is a merger of the registries of RAK Free Trade Zone and Ras Al Khaimah Investment Authority. RAK ICC aims to be the most modern registry in the world. It has fully updated its regulations in 2016 and is on level with global regulatory standards.

The free zones each have their own free zone authority. These are profit making entities; their main source of income is often derived from renting office space, collecting license fees, and providing services to the companies operating in the free zone.

Just like local and free zone companies, these offshore companies can benefit from some of the tax treaties concluded by the UAE. Using a RAK Offshore Company as a shareholder of a free zone company can prevent otherwise significant legalization charges.

Many advantages are there in starting business in Ras Al Kaimah Offshore:

• No requirement for the owner or director to visit the UAE in person
• 100% repatriation of capital and profits
• No audit requirement or requirement to submit financial statements
• Possibility to open a solid bank account in Dubai

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