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2017.07.26
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 COMPANY FORMATION
UNITED ARAB EMIRATES, RAS AL KHAIMAH - RAKIA

5 things worth knowing about Dubai companies
Ras-Al-Khaimah (RAK) is one of the lesser known emirates within the United Arab Emirates. Although people automatically tend to think of Dubai at the mention of the UAE, RAK is an ideal jurisdiction for company registration. Company formation and maintenance are faster, cheaper, free of bureaucracy and highly efficient. While it is extremely difficult for foreign companies to open bank accounts in the Emirates, companies formed in RAK experience no such problems. Furthermore, free trade zone companies registered here can also apply for work permits (2-3 per comapny).
 
Status Absolute Monarchy
Area, sq.km 1,700
Population Approximately 300,000
Capital Ras al Khaimah
Business language Arabic (English is widely spoken)
Currency UAE Dirham (AED)
Location In the east of the Persian Gulf, the northernmost of the United Arab Emirates
Map
Time zone UTC + 4
INCORPORATION DATASHEET

Advantages

The United Arab Emirates is an extremely attractive jurisdiction, with a very good name.

Disadvantages The United Arab Emirates is not a member of the Hague Convention on international authentication, and as such, the corporate documents can not be certified with Apostille. Having said that, it is possible to have corporate documents certified by foreign consulates or by Apostille in other countries.
Method of incorporation / registration The Memorandum and Articles of Association must be signed by the shareholder.
Company legal form Private Limited Company by shares
Company status International Business Company (IBC)
Source of corporate legislation RAK (The Rash al Khaimah) Free Trade Zone International Companies Regulations 2006
Possible suffixes to company name „Limited” or „Ltd”
Time required for incorporation 2 - 3 weeks
Number of directors and secretary
Minimum 1 of any nationality, corporate directors are allowed.
Number of shareholders Minimum 1 of any nationality.
Capitalisation There is no minimum share capital requirement but has to be mentiond in the MOA
Accounting / reporting requirements Required, but not filed with an authority, there is no audit requirement, except liquidation
Type of shares Registered
Annual tax and duties AED 2500 (633,41 EUR, currenc rate 3,9468 on the 11th of November, 2015) regardless of the authorized capital   
Information publicly available Registered office and Registered Agent
Disclosure of beneficiaries Not required for the public records
Registered office Local registered office is required by law
Registered secretary / agent Local registered agent is required by law
Double tax treaty

United Arab Emirates has double tax treaties with the following countries: Algeria, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herczegovina, Bulgaria, Canada, China, Czeh, Egypt,  Finland, France, Germany, Hungary, India, Italy,Korea, Lebanon, Luxemburg, Malta, Malaysi, Mauritius, Mongolia, Morocco, Mozambique, Netherland, New Zealand, Pakistan, Philippines, Poland, , Romania , Seychelles, Singapore,Spain, Sri Lanka,  Sudan, Syria, Tajikistan, Thailand, Turkey, Tunisia,Turkmenistan, Ukraine, Uzbegistan, Yemen

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PRICE ON REQUEST!

Please contact any of our offices for access to the full pricelist.

 Thank you!

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