The real estate purchase in the UAE is the highly attractive investment in terms of its safety and investment returns. When purchasing real estate in Abu Dhabi, it can be purchased on private name as well as on a name of a company. Perfect type of legal entity for such acquisition is the Ras Al Khaimah ICC Offshore company. Further down is the description of this type of legal entity and the details why it is highly practical for property purchase in the capital of the UAE.
Main features and advantages of RAK ICC Offshore company
First of all, such legal entity, since it is registered in the UAE, does not require any additional legalization of company documents which is a great advantage. In case of a similar foreign company its document legalization would be mandatory whereby such legalization is costly and time – consuming.
Flawlessly accepted by the UAE banks and other authorities – another aspect is this legal entity is that it is perfectly known by the UAE Authorities and banks. Means there are no hitches when opening a bank account for such legal entity as well as registering the property / real estate rights in Abu Dhabi on it.
Such company is completely exempted from taxation in the UAE. It means any type of income, received by such establishment, is not taxable in the United Arab Emirates. In case of holding and managing properties it means that the revenue, received from properties rent or sale, is not taxable in the UAE.
In terms of financial reporting, RAK ICC Offshore company is also highly advantageous – it does not require any audit, neither tax returns in the UAE.
RAKICC Offshore Company’s useful features for holding properties in Abu Dhabi
- Ownership – the real estate ownership over such firm is possible for a single owner as well as in form of the joint ownership – means the company can have more than one shareholder.
- Confidentiality – real estate ownership provides certain level of confidentiality as the data on the firm owners would not be specified in the property title record / deed.
- Asset planning and management – management of financial assets and properties over a company gives certain benefits in terms of practical aspects. If managed by one of the owners – simple shareholders resolution is sufficient. If managed by third parties, special limited POA can be issued, and then such person can handle all real estate management issues.
- Inheritance – holding of immovable assets over such legal entity also eases the matter of inheritance planning.
Possibility to purchase Abu Dhabi properties on RAK ICC company – regulations
As according to the present applicable regulations of Abu Dhabi real estate regulatory authority, RAK ICC offshore firm is permitted to purchase and hold properties in the capital of the UAE.
Practical steps – how to register company and put it as the owner of Abu Dhabi Properties
To start the process of RAK ICC Offshore company registration in the UAE please get in touch with us and we send you all the details and steps. In summary such steps are – we main key documents from you – your suggestions on a company name and documents on you as the firm owners – passport copies and a couple of extra standards documents. The company registration takes 3 to 5 working days and, once, you receive the complete set of documents and can use it to put such firm as the owner of your real estate / properties in Abu Dhabi.