September 13, 2015
The RAK Investment Authority (RAKIA) launched the International Business Company concept in January 2007. These IBC’s are regulated by the International Business Company Regulation 2006 – RAK investment Authority.The RAK Offshore IBC is the most cost effective of local entities to incorporate in the UAE. No local office space rental is required only the address of the registered office is sufficient.
IBC are permitted 100 % foreign ownership and are 100% TAX exempted but RAK Offshore companies are not permitted to trade with persons or companies with in the UAE.
RAK Offshore Company Incorporation is mainly intended for prudent investors who are in search of the safest place to process global transactions and businesses. It offers you complete ownership of your company along with low startup costs and operational flexibility. You can successfully mitigate your tax payments and running costs, and increase the volume of your profits without putting your assets at stake.
RAK has been home to thousands of companies from across the globe. Some of the reasons behind the success of RAK International Company Incorporation are.
A minimum of one director is required and corporate directors are permitted. The number of directors can be fixed in the Memorandum and Articles of Association. Details of directors are not available for public inspection. The first directors are appointed by the incorporators at the time of incorporation, and thereafter elected by the shareholders. Any shareholder may be appointed as a director and/or a secretary.
The directors have all the powers of the company that are not reserved to the members under the Regulation or in the memorandum and articles.
Every RAKIA Offshore Company is required to have a secretary, which is appointed by the shareholders for such period as the shareholders may determine. A shareholder may be appointed as a secretary and/or a director.
Also Read: Offshore Company Formation UAE
A minimum of one shareholder is required and there is no limitation on the maximum.
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