Ras Al Khaimah (RAK)
Ras al-Khaimah is one of the seven emirates that make up the United Arab Emirates. The total population at between 250,000 and 300,000. Locals accounted for around one third of the population from an estimate of 2010. Not being a producer of oil, Ras al-Khaimah has focused on developing its industrial sector. New legislation and regulations favor international investments and the combination of security and confidentiality is ensured to entrepreneurs. An international company may only have foreign customers and is not liable for paying local taxes.
Key Benefits:
- 100% of Foreign ownership is permitted.
- Tax free environment with no exchange controls.
- One of the highest degrees of confidentiality is guaranteed.
- Low cost for incorporating a company with a simple and straight forward procedure.
- Only one shareholder and one director is required to incorporate the company.
Fact Sheet
General
| Type of Company | IBC |
| Type of Law | Common |
| Shelf company availability | Yes |
| Our time to establish a new company | 1-3 days |
| Minimum government fees (exl. Tax) | |
| Corporate Taxation | Nil |
| Double Taxation Treaty Access | Yes |
| Share capital or equivalent | |
| Standard currency | US |
| Permitted currencies | US,AE Dirham |
| Minimum paid up | AED 1.000 |
| Usual authorised | AED 1.000 |
Directors & Secretary
| Minimum Number | 1 |
| Local Required | No |
| Publicity accessible reports | No |
| Location of meetings | Anywhere |
| Secretary | Required |
Shareholders
| Minimum Number | 1 |
| Local Required | No |
| Publicity accessible records | No |
Accounts
| Annual Tax Return | Yes |
| Audit Requirements | No |
| Requirements to file accounts | No |
| Publicity accessible records | No |
Other
| Requirement for file annual return | No |
| Change in domicile permitted | Yes |
| Recurring Government costs | |
| Minimum annual Tax/ License Fee | 0 |
| Annual Return Filling Fee | 0 |