Ras Al Khaimah is offering the best of both worlds

The best of both worlds in Ras Al Khaimah, where in the frame of a continuous development, the authorities launched a unique product – the Premium Product – combining onshore and offshore features.

The Emirate of Ras Al Khaimah is also known as the ‘Rising Emirate’, having gained an excellent reputation following its recent economic growth and emerging business opportunities.

It operates the Ras Al-Khaimah International Corporate Centre (RAK ICC), a Corporate Registry for international companies.

The launching of this Premium Product was made by RAK ICC in collaboration with the Ras Al-Khaimah Economic Zone (RAKEZ), a world-class economic free zone with customizable packages and services.

This new offer allows offshore companies to now carry out their business activities in the United Arab Emirates itself, to keep addressing evolving customer needs in a changing regulatory pressure and bank requirements for substance.

What is The Premium Product?

The Premium Product allows the IBC companies registered with RAKICC (offshore) to carry their business locally in the UAE by establishing a subsidiary at RAKEZ.

It combines the following advantages:

Advantages of the RAKICC company

• Conducting business as an international entity
• 100% foreign ownership
• No restrictions on the number of shareholders
• Corporate Director is permitted
• No office requirement
• No requirement to file financial accounts
• No requirement for minimum capital
• Open bank accounts locally and internationally
• Conducting business without corporate/personal taxes
• Protecting investments in other foreign countries
• Easy transfer of assets and properties held in several countries

When RAKICC establishes a subsidiary with the RAKEZ, it provides a company of substance with an ease of doing business inside and outside the UAE.

• Enjoy Double Taxation Treaty benefits
• Corporate & personal income tax-free in the UAE
• Companies are treated as business enterprise of substance
• Investors can open bank accounts locally and internationally
• Option to lease a physical facility from RAKEZ
• With the combined product the owner of the business can rent a facility in the FZ as permitted.
• Eligibility for a UAE residence visa
• Cost efficient for the establishment of one structure (RAKICC + RAKEZ) instead of one onshore company

The cost for the above package starts from USD 7500 (Package A) allowing you to apply for one residency in the UAE.

For further details about this new attractive product and the setting up of the structure, please contact SFM and our specialized team will be glad to assist you.