Prime Tower, Office# 2707, Business Bay, Dubai, UAE
A RAK Offshore company can best take benefit of those treaties. However, all UAE Offshore companies or other companies must to follow United Arab Emirates law, RAK International Corporate Center (RAK ICC Offshore) can choose which law should to be applicable for arguments, inheritance and any other legal matter (the chosen law must be cited in the Memorandum and Articles of Association). A RAK offshore company can hold shares in “onshore” Dubai company (such as Dubai LLC company), or any other legal entity globally. A RAK International Corporate Center (RAK Offshore Company) can also own real estate property (such as free hold properties) in the UAE. A RAK offshore company can hold a bank account in the Dubai UAE, for the use of carrying the day to day operational transactions and other related persons carrying out business. A RAK offshore company does not allow to carry out business with UAE residents, or conduct any trade in RAK Free Trade Zone and the UAE, unless, until it has obtained the suitable license from the concern authorities.
The introduction of the RAK offshore Company does not involve any major changes in the current key advantages of an offshore company in UAE. RAK Offshore companies, same as before, remain totally Zero from taxes. Same as previously, there is no requirement to submit an audit report, whereby the UAE offshore jurisdictions are broadly known and recognized as highly respected for registration of offshore companies for international businesses. There will be no substantial changes for the existing companies incorporated under RAK Offshore, so those companies can still operate same as earlier.
The British Virgin Islands (BVI) are a chain of 60 islands, located in the Caribbean Sea 90 miles east of Puerto Rico. The BVI is the world’s largest company formation centre. It was one of the first offshore centres to target the market for international business companies (IBC). There are over 1,000,000 Companies registered in the BVI making it the number one ranked offshore jurisdiction by volume of incorporated companies.
Licensing There are no restrictions on the business or activities of a company, however, a license is required if the company is embarking in areas such as banking, trust, insurance, third party company management, mutual funds or any other such regulated business activity.
Bizgate will help you in company name approval, offshore company with local bank account, registered address and Documents required for incorporation etc.
from corporate tax
Possible to operate from UAE
No Capital requirements
No currency restrictions
Employment visa processing made simple
Repatriation of profits and capital
No audit requirements
Minimum responsibility and maximum benefits
2 Persons can open up an LLC
The maximum number persons or employees an LLC can have is 50
If you want to open an LLC in Dubai then you have to invest a minimum of AED 300,000/- or USD 81,744/- which is abysmally when compared to the higher forms of organization set ups.
If you want to open an LLC in emirates other than Dubai, then the capital requirement is further down to AED 150,000/- or USD 40, 872/-.
The DED is the vital government body for registering and licensing companies who intend to do business in the mainland of Dubai. The DED recently has been updating its rules and regulations to act as a one stop shop service centre for all licenses in mainland Dubai. Today DED provides fast track services compared to most of the government authorities in other emirates or neighbouring Gulf countries.
Draft the MOA and AOA
Help in obtaining approval from DED
Registering the company name
Acquiring out an office space
Apply for a trade license
Submit docs and pay license fee
Obtain license & start business operationbr>