Redomicile your company to the UAE and pay 0 until next year

The UAE worked hard and fast to outline new regulations to comply with EU requirements. Stricter regulations regarding offshore structures were implemented in September this year and were robust enough to have UAE removed from that blacklist as of October 2019; less than 2 years after it was initially instigated.

Between this reinstatement and its position as the most diverse economy in the GCC (Gulf Cooperation Council), the UAE is once more moving up the ranks of prospective countries for businesses looking to redomicile. Advantages for companies wanting to redomicile to the UAE include:

• Zero corporate tax regime
• Stable currency and economy
• Flexible control and regulations
• Access to the English jurisprudence
• Full repatriation of capital and profit
• Greater assets protections
• Access to a number of local and international banks.

The growing economy was recently lauded by the IMF after their visit, as they predicted that non-oil growth would exceed 1% in 2019 and would rise to 3% in 2020, the fastest since 2016. The IMF also reported that the economy is in good health and will continue to gain momentum in the coming year through Expo 2020 and existing fiscal stimulus. To add to all of that, and to celebrate UAE’s hard work and its payoff, we are offering zero RAK ICC government fees until renewal next year. Essentially this removes the costs of redomiciliation and renewal which can run into the thousands.

The RAK International Corporate Centre allows for the migration of offshore businesses to its own jurisdiction so long as their current jurisdiction allows. There are 57 countries that currently allow migration of offshore companies.

The benefits to joining RAK ICC are:

• 100% corporate tax exemption
• 100% capital and profit repatriation
• No public access to corporate registers
• Mandatory filling of audited financials not required
• Shares may be covered under the DIFC Will
• Foreign Trusts and Foundations can be shareholders
• Rapid share transfer process

Take advantage of all the UAE and RAK ICC have to offer and get in touch today.