News & Articles
RAK ICC offshore company, Ras Al Khaimah, UAE – the new type of company
RAK ICC offshore company, Ras Al Khaimah, UAE – the new type of company A new type of company with the abbreviation RAK ICC is planned for the first half of 2016. It’s an IBC (International Business Company) intended for the international business. Essentially, the RAK ICC is a merged registrar of the previous 2 types of companies – RAK IBC and RAK Offshore. The RAK ICC is being created upon a merge of 2 registrars previously known as RAK IBC and RAK Offshore. The process of this merge and all relevant administrative
UAE population – 10 million mark very soon.
UAE population – 10 million mark very soon The UAE population is gradually nearing the 10 million mark. In just 10 years the population has grown from the mere 4 million people to almost 10 million. Around 85% are foreign professionals whom the country relies on quite heavily. A significant part of all foreign professionals are expats from South Asian countries amounting to approximately 2.5 million people. Despite the gradual increase of living costs in UAE, the population is expected to grow further in the country which
Acquisition of an international company with a bank account
Acquisition of an international company with a bank account An offshore company with its own corporate account is the most effective tool, which enables creation of a highly profitable and reliable structure for the development and protection of the existing business. Specialized companies that offer acquisition of a ready-made offshore companies with a registered bank account can be found in the modern offshore industry. However, the choice of an offshore jurisdiction is conditioned not only by the aim to relocate the
UAE – country with one of the highest percentage of ultra rich
UAE – country with one of the highest percentage of ultra rich The UAE is in the top 15 countries globally of the most millionaires’ households and the leading country in the whole of GCC in terms of the private wealth growth aiming to reach a staggering USD 1 trillion by 2019, which is a 10.7% growth rate, according to the 2015 analysis BCG Global Wealth Report. In 2014 alone, the annual growth rate was 8.5% due to a substantial investment into equities. The capital held in equities showed a growth rate of 13.8% in 2013
VAT introduction in UAE – planned for introduction in the near future.
VAT introduction in UAE – planned for introduction in the near future. The UAE federal budget partially funded by the oil revenue has suffered a substantial loss in the past 12 months. The plunge of oil prices has urged UAE to review its finances and mull over new ways of increasing revenue. Thus at current the governments evaluates the possibilities of introduction of the VAT tax. Such tax in UAE, as according to the info available by the present date, is planned to be applied to the luxurious consumer goods and to the