According to S.H. Business Adviser data, international entrepreneurs are increasingly choosing the United Arab Emirates for registering a company. This is due to the fact that UAE’s free zones offer limited regulations, easy access to the international labor market, and location on the main trade route between west and east.
In addition, business setup in Dubai or other emirate offers the benefits of a convenient time zone and most importantly, the absence of corporate income tax.
In the UAE, there are a large number of free zones that have significant differences in requirements, regulations and prices. If your goal is to conduct business outside the UAE, then the registration of an offshore company RAK free zone is most suitable for you.
Features and benefits of RAK offshore company
RAK offshore company is ideal for international business, it does not require office space, and can not conduct activities within the UAE.
Despite this, Ras Al Khaimah free zone companies can benefit from the absence of taxes, asset protection and excellent banking services. Registration of a company in RAK is the most preferred option for international entrepreneurs wishing to register a company in the UAE.
Offshore company in RAK free zone is ideal for any type of business that does not require a local office, including passive investment activity. For example, these may be the following activities:
- ownership of international, local and free zone companies shares;
- international consulting;
- investment;
- trading activities outside the UAE;
- possession of intellectual property.
Registration of an offshore company in RAK free zone has the following advantages:
- complete absence of taxes;
- no requirement for owners and directors to visit the UAE.
- no annual audit needed;
- allowed 100% ownership, while there is no public register of shareholders and directors;
- ability to open a reliable bank account in Dubai.
Registration of a free zone company in the UAE
If you are considering the physical relocation of your business or part of it in the UAE, then a free zone company is an obvious choice. You will get a local presence and be able to conduct business from the fast-growing Arab Emirates. You can rent office space and apply for visas for yourself and your employees.
The main advantages of free zone company formation in UAE:
- Foreigners are allowed 100% ownership.
- Office or flexi desk rental.
- The possibility of obtaining resident visas.
- Easy recruitment.
- Guarantee of no corporate tax for 15-50 years, depending on the zone.
- Lack of customs duties if goods do not reach the local UAE market. If the goods enter the local market, the import duty will be 5% for most of them.
Each free zone has its own governing body. The main profit of such bodies is usually derived from the lease of office spaces, fees for the issuance of licenses, and from fees for the provision of services to companies that work in free zone.