Register Dubai Offshore Company – Dubai RAK
The information below displays the requirements to register a Dubai company (Dubai RAK). We provide details on the maintenance, shareholder requirements, the minimum capital requirements for Dubai company formation, along with the legal form, naming requirements, documentation required and director and secretary requirements.
The information below is a guide to help you with your Dubai company registration, this serves as a general guide and may be subject to the most recent changes of the legislation in various jurisdictions. We invite you to Contact Us for the latest update and free quotation.
Dubai Ras al-Khaimah Company (Dubai RAK Company)
Legal form: Federal Law No. 8 of 1984, as amended by Federal Law No. 13 of 1988 – the Commercial Companies Law – and its by-laws govern the operations of foreign business. In broad terms the provisions of these regulations are as follows: The Federal Law defines seven categories of business organization, which can be established in the UAE. It sets out the requirements in terms of shareholders, directors, minimum capital levels and incorporation procedures. The seven categories of business organization defined by the Law are: General partnership company, Partnership-en-commendam, Joint venture company, Public shareholding company, Private shareholding company, Limited liability company, Share partnership company. By far the most usual form that businessmen and/or corporations prefer is the limited liability company.
Name of the company: Dubai offshore companies must use the suffix Limited or Ltd. to denote limited liability. The following words and their associated activities are prohibited: Banking, Insurance and Re-insurance.
Shareholders: RAK offshore company can have a minimum of one shareholder and there is no limitation on the maximum. 100% foreign ownership of the company is allowed. Corporate shareholders are permitted. Shareholders meetings should be held at least once a year and every RAK offshore company shall take minutes of all proceedings at general meetings.
The minimum share capital: There is no minimum capital requirement. Usually we recommend share capital to be US Dollars 1,000. Share certificates must be issued within two months from the date of payment of the capital. Bearer shares are not allowed. Shares may be issued fully, partly or nil paid.
Directors of the company and secretary: A minimum of one director is required and corporate directors are permitted. A register of directors must be held at the Registered Office, but it is not a matter of public record. The number of directors can be fixed in the Memorandum and Articles of Association. Any shareholder may be appointed as a director and/or secretary. One secretary is required and corporate secretaries are permitted.
Registered office and local agent: Dubai offshore company must maintain a local Registered Agent approved by the local authorities and a local Registered Office, which is usually provided by the Registered Agent.
Taxation: Dubai offshore companies pay no taxes on profit, capital gains or anything else in Dubai.
Audit and financial returns: Accounts or audited accounts are not required to be filed with the Authority. A RAK offshore company shall keep accounts and records the directors may consider necessary in order to reflect the financial position of the company.
Meetings: Dubai offshore company meetings need not be held in Dubai.
Time needed for Dubai company formation: Usually is 10 working days form the time all the required documents are submitted.
Register Dubai Offshore Company – Our fees and prices for Dubai company formation (Dubai RAK formation)
Dubai Formation cost includes:
- Name check and approval
- Drafting of Memorandum and Articles of Association
- Filing with official register
- Payment of government fees
- One set of originals of all standard corporate documents
- Provision of local agent for one year
- Provision of registered address for one year
- Provision of company secretary for one year
- Courier fees
- Rubber stamp
Optional services (to be chosen by the client)
- Provision of nominee shareholder
- Provision of nominee director
- Bank account opening in one of the banks in Dubai
- General Power of Attorney with Apostille
- Notarization of a document
- Legalization of a document
- Company seal
- Mail collection, mail forwarding
- Virtual office
- Good Standing Certificate with Apostille
Recurring maintenance fees from 2nd year and after
- Provision of registered office
- Provision of company secretary
- Payment of annual RAK fee