1. For Individual Applicants:

• Application Form


• Memorandum of Association (done by us)


• Passport Copy - copy attested


• Bank Reference Letter - original required


• Proof of residence (Utility bill) - original required

2. For Non-individual Applicants :

• Application Form


• Memorandum of Association (done by us)


• Copy of license or incorporation certificate issued by the chamber of commerce or any other body – (documents must be apostille or attested as true copy from the registry where the company is incorporated or submit along the originals to the registry at the time of registration)


• Board of Resolution - original required


• MOA of the parental company – (documents must be apostille or attested as true copy from the registry where the company is incorporated or submit along the originals to the registry at the time of registration)


• Passport Copy of the Director & the Shareholders - copy attested


• Good Standing Certificate - original required

Once all the documents are submitted, the company is incorporated in a week’s time.

1. What is the minimum capital requirement for establishing a RAK Offshore company?
There is no minimum capital requirement to establish the company.

2. Can I get a residence visa?
No, you cannot obtain any type of visa if you are setting up an offshore company.

3. What type of business activities are allowed in RAK Offshore?
There are no trade barriers, but you can trade only outside UAE.

4. Can I open a bank account in Dubai, if I form an offshore company?
Yes, you can open a bank account in a local or international bank. The facilities provided by most of the banks would include Internet Banking, Cheque Books, Debit Card, Fax Indemnity, Multiple Currency Accounts, Phone banking, Monthly bank statements etc. (the facilities & minimum balance would differ from bank to bank)

5. Are there any corporate or other taxes?
100% income & corporate tax exemptions

6. Is there any extra hidden cost to incorporate the offshore company?
No, the total cost to incorporate the company is USD 3,500. In case you would like to open a bank account in Dubai, our service charges for the same would be USD 250.

7. What would be the charges for renewal of offshore company?
The charges for the renewal of the company yearly would be USD 2,500.

8. Are there any other facilities offered by RAKIA?
RAK Offshore offers open registry of yachts and private boats.