RAS AL KHAIMAH FREE ZONE
Ras Al Khaimah (RAK), one of the seven emirates comprising the United Arab Emirates.
Become a member of the Federation in 1972. As is the practice with a number of emirates ,
RAK maintains a Free Trade Zone in which international business can be conducted free of
local taxes and regulations.
Currency : UAE Dirham (AED)
The official language is Arabic, however, English is widely
Language: spoken and many documents and publication are available in
English.
The RAK International Company Law is based on the The
Type of law: model of The successful International Company regime of the
British Virgin Islands.
A unique feature RAK Company Law is that it allows The
shareholders to elect their choice of proper Law (e.g.
English,BVI,Delaware) to decide matters concerning, among
others, disputes between the shareholders, and any other
matters.
Type of company: Private Company Limited by shares
Principal Corporate Ras Al Khaimah Free Trade Zone International Companies
Legislation: Regulations 2006
Commercial and trading activities , subject to trading
Uses: restrictions as below.
Cannot carry out:
Business with persons/entities in the Ras Al Khaimah Free
Trading Restrictions: Trade Zone or in the UAE except where permitted by
Regulations;
Banking business or business as an insurance or reinsurance
company, insurance agent or insurance broker, unless it is
licensed under applicable UAE law and authorised to carry on
that business
Must check for availability. Some sensitive words: Finance,
Company Name: Bank, Trust, Royal, Insurance, Security, etc require the
Minister’s approval .
Must end with Limited/LTD or Incorporated/Inc.
Language of legislation English
and corporate documents
100% income tax exemption
100% corporate tax exemption
Taxation: 100%capital and profit repatriation
100%ownership in Free Zones
No import or export taxes
No capital gains tax
No value-added tax
No withholding tax
Annual license fee: AED 3000
Double Tax Treaty RAK IC enjoys the benefits of the current UAE’s 48 double tax
Network: treaties
A registered agent must be appointed and registered address
Registered Agent/Office: must be maintained within the RAK zone or in the UAE if
maintained by its registered agent.
Minimum number: One
Details of shareholders are not on the public file but disclosed
Shareholders: to the Registry.
Register of Shareholders: Must be kept at the Registered
Office
Disclosure of Beneficial Not publicly available
Owner:
Minimum: one
Can be corporate or natural person
Directors: Nationality: No restrictions
Details of directors are not on the public file but disclosed to
the registry
Location of meetings: No restriction
Secretary : Required: Yes
Local or qualified: No restriction
Permitted currency: AED, USD and GBP
No minimum capital requirement
Different classes of shares allowed
Share capital: Bearer shares: Allowed to the extent permitted by Regulation
of an International Company and the bearer shall be a
registered agent acting as nominee on behalf of the beneficial
shareholders.
Accounts required to be prepared and approved by the
Annual Reporting : directors, but not field with any authority. No Audit
requirement except for liquidation audit is required for the
whole life of the company.
