Company registration in the UAE in 2018
Expansion and change of business activity by registering a company in the UAE in 2018 is one of the potential in-demand cases. Thus, the emirate of Ras Al Khaimah (PAX) launched an offshore company - the second in the UAE.
The Register of International Business Companies (IBC) allows foreign investors to register offshore companies in Ras Al Khaimah, a division of the Investment Management of Ras Al Khaimah without the need for a physical presence in the UAE.
The United Arab Emirates is a “real” country with a “real economy” with a population of about 4 million people. It has an established history of international trade, finance and business, and today it is one of the fastest growing countries in the world with one of the highest standards of living.
Choosing the right jurisdiction is an important decision and requires careful consideration. Important aspects that need to be explored and offered by Ras Al Khaimah’s offshore can be summarized as follows:
Political and economic stability of jurisdiction
• Presence of a modern and flexible legal framework
• Simple registration and filing requirements
• Presence of agreement on avoidance of double taxation
• Modern banking system
• Modern telecommunications
The UAE is not a dependent country. The pressure was initiated by the Commission of the European Community together with the Organization for Economic Cooperation and Development (OECD) on countries with a low level of taxation. The British Parliament transformed British Dependent Territories into British "Overseas" Territories (in 1998).
The United Arab Emirates has concluded agreements on the avoidance of double taxation with 28 countries and the United Arab Emirates is not a member of the Organization for Economic Cooperation and Development. At the same time, it is not included in the blacklist of OECD and is not even a member of the European Union.
Budget and regulatory benefits of the UAE offshore company
• Full tax exemption: both corporate and income
• Ability to fully own free zones
• No import / export tax, as well as value added
Registration of an offshore company in the UAE - features:
• There should be no physical offices.
• The company cannot conduct business in the UAE.
• A beneficiary cannot obtain a UAE visa.
• It is not necessary for a shareholder / director to be physically present in the UAE to register a company
• One may own property in the UAE, with prior permission from the Ras Al Khaimah Investment Authority.
• The company cannot engage in banking and insurance business without a special license.
• The company may own shares of other UAE emirates and companies around the world.
• The company may own yachts registered in the UAE.
For all questions related to the registration of a company in Ras Al Khaimah - contact our professional experts!