There are two Free Trade Zones in Ras Al Khaimah – RAK FTZ and RAKIA.
Each of these Free Trade Zones in RAK provide an opportunity to register offshore and onshore companies, whereby each Free Trade Zone has its own special features and requirements for each and every type of company.
This article will focus on two types of offshore companies in Ras Al Khaimah in two Free Trade Zones of this Emirate – RAK FTZ and RAKIA.
Essentially, both types do not differ from each other – the corporate taxation is 0%, it is permitted to perform any sort of business except banking and insurance.
The differences: Offshore company registered in RAKIA has got the word “offshore” in the incorporation documents, whereas the company registered in RAK FTZ has got the “International Business Company” as the term describing the type of company.
The offshore company IBC, registered in RAK FTZ, is subject to less verification by banks of UAE when opening bank accounts, due to more stringent requirements during company registration and its documents.
In all other aspects, these companies in Ras Al Khaimah are very much alike. Considering the above, most of our clients prefer companies in the Free Trade Zone RAK FTZ with the IBC status.
Our company is the registered agent for both types of companies and we can register any of those types of offshore companies, as per client’s choice.
The registered address of companies registered in Ras Al Khaimah is the address of the registered agent’s office, which would be, in case the company is purchased through us, one of the most prestigious business districts in Dubai.