How do offshore companies work?

Offshore companies are the safe, secure, and the most cost-effective solution for across the border business setup. It guarantees secrecy, privacy and anonymity with in a legal entity, which enjoys legal privileges. Business owners or entrepreneurs that pursue private, supportive, the most profitable climate to operate their international business need to understand the process of offshore company formation and what benefits that type of formation bestows on their businesses.

Offshore company setup, particularly, means that the business owner could register a company on a state with no need to own premises, disclose the details of the owners nor get into legal conflicts. It permits the owner to conduct businesses internationally except for the state where the company is registered. It merits the owner with 100% ownership rights.

Offshore company also offers an abundant number of benefits including:

• Low Taxation
  With this type of company formation, owners and stakeholders enjoy very low taxation rate encouraging them to conduct various business activities within the most profitable legal taxation atmosphere.

•   Legal separation permission
  This business entity type permits asset protection provision through the availed separation between the company secured assets and the company creditors.

• Possessions immunity.

• Multiple currencies banking provisions and banking support
  Many states and sovereigns avail flexible banking services including corporate bank accounts creation and multiple currencies availability.  

• Physical presence of the investor is not required for the registration process.
  This type of business formation has created a legal and ethical method for starting a business without multiple financial obligations for business owners and entrepreneurs.

Ras Al Khaimah Trade License Cost

One of the major legal requirements to start a free zone business in RAK is to obtain a free zone license and pay the Ras Al Khaimah trade license cost accordingly. UAE Company registration in RAK free trade zone is subject to certain terms and conditions set by the RAK economic zone (RAKEZ) authority to standardize the processes involved in starting a new free zone business. The investors must be aware of the rules and regulations of the RAK free trade zone and must comply with all the legal requirements to start their free zone company successfully in one of the most well-reputed free trade zones in the UAE. 

Ras Al Khaimah Trade License Cost and License Renewal Fees

Investors need to follow a step-by-step procedure to complete the registration process for their UAE based free zone company in Ras Al Khaimah. As mentioned earlier, obtaining the RAK free zone license is an essential legal requirement and investors must choose a specific type of license intelligently according to their specific business requirements.

Listed below are different types of RAK free zone licenses with their respective RAKEZ license cost:

• RAK General Trading License (AED 15,000)
• Services/Consultancy License (AED 7,500)
• Industrial License (AED 5,000)
• Commercial License (AED 3,650)

It must be noted that after starting your business in RAK free trade zone, you need to renew your trade licence every year and the renewal amount is the same as the RAK license fee that you pay when applying for the trade license for the first time. Paying the RAK free zone license renewal fees before the expiry date is important to avoid cancellation of the license.

Start your Business in RAK Free Trade Zone

Starting a business in RAK economic free zone could be an excellent decision as many benefits are offered to investors for UAE company registration in RAK including 100% ownership of the business and exemption from corporate taxes amongst others.