Licensed Corporate Service Provider
Simply, this is a question of
1. Cost and convenience. – Generally RAK companies are considerably cheaper to form than their equivalents in Dubai and the other Emirates. (See RAK formation fees)
2. No accounts or audit requirements. Dubai for example requires accounts to be prepared, audited and filled. RAK has no such requirement.
3. Formalities. RAK offshore companies are easier to form e.g. only one director is required and may be a corporate. Dubai for example requires two directors and does not allow them to be corporate.
As licensed company service providers in RAK, our company, TMS FZE can provide a one stop solution for all your RAK company needs.
We offer very competitive prices whilst providing flexible and a fully professional service to our clients.
The UAE is fully sovereign Constitutional Federation of seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.
RAK (Ras Al Khaimah) is located on the eastern side of the Arabian Gulf. It is about an hours drive from Dubai and from Dubai airport. A little further away is the international airport of Abu Dhabi.
READ ABOUT THE ADVANTAGES OF BEING A TMS AGENT
There are many jurisdictions offering offshore companies however what distinguishes RAK from many others is that it is a ‘no tax emirate’. There are therefore no personal or corporate taxes at present.
Other than Sweden, Denmark and Norway UAE, including RAK, has not signed TIEAs with other countries.
The United Arab Emirates is NOT on any blacklist e.g. OECD, FAFT, EU etc., nor it is under any pressure from these organisations -
There is no public record of the directors and shareholders and the company registry is NOT open to public inspection. Beneficial owner information is not provided to RAKIA / government and therefore cannot be disclosed by them.
There is no requirement to audit or file accounts, however, as with all companies, accounts should be maintained and provided to shareholders.
RAK is not on any blacklist e.g. OECD, FAFT, EU.
Complete privacy -
RAK is has no corporate or personal taxes.
… rather than a classic tax haven IBC (e.g. BVI, Belize, Seychelles).
Ras Al Khaimah (RAK) offers more than any classic tax haven:-
NO accounts filing requirements.
Read more below: