These four (4) types of licenses are offered in Shams City Free Zone:
Trading License
Allow importing and exporting of goods within Shams Free Zone. This also includes selling of wholesale and retail goods, and other related services.
Sample Headline
Allow importing and exporting of goods within Shams Free Zone. This also includes selling of wholesale and retail goods, and other related services.
Set Up your company in RAK ICC
Entrepreneurs looking to expand their business horizons can seize a golden opportunity through RAK ICC company formation in the UAE. Among the array of options available, opting for RAK ICC offshore company formation proves to be a strategic and advantageous decision. These offshore entities, particularly within the Ras Al Khaimah International Corporate Centre (RAK ICC), are legally incorporated in the UAE while primarily conducting business activities on an international scale. This distinctive structure offers the critical advantage of limited liability, which plays a pivotal role in safeguarding business finances.
A RAK ICC offshore company serves a multitude of purposes, including international trading, shipping, patent management, international consulting, real estate ownership, copyright registration, and functioning as holding companies. For entrepreneurs interested in RAK ICC company formation, it's vital to acknowledge the unique benefits provided by RAK ICC. Unlike other jurisdictions, RAK ICC offers a streamlined and business-friendly environment, making it an ideal destination for establishing and expanding an offshore company.
Benefits of setting up a business in RAK ICC
Privacy
Establishing an RAK ICC offshore company ensures privacy. Companies within RAK ICC are not obliged to disclose financial information or share personal details of directors and shareholders in public records. Furthermore, there is no mandatory audit requirement for these offshore businesses, which enhances privacy even further.
Less Liabilities
Choosing RAK ICC company formation guarantees robust protection for the company's assets and possessions in legal proceedings. This structure also provides asset protection for investors by establishing a legal barrier between the company's resources and any potential third-party claims.
Gateway to International Expansion
Establishing a RAK ICC offshore company offers a UAE-based address, instantly enhancing the credibility of the business. This creates avenues for new international partnerships and activities. Moreover, it facilitates the opening of a UAE bank account, which is essential for a RAK ICC offshore company involved in diverse currencies and global transactions.
Tax Benefits
As of 2023, the UAE introduced a corporate tax rate of 9%. Nevertheless, offshore companies, specifically those established through RAK ICC company formation, are exempt from this tax as they do not conduct business operations within the country. This exemption serves as a notable financial benefit for a RAK ICC offshore company.
Benefits of having RAK ICC for Business Setup
RAK ICC stands out as one of the most rapidly expanding jurisdictions in the MENA Region. Recognized for its efficient facilitation of RAK ICC offshore company incorporations, it maintains a robust reputation for compliance and adhering to international standards.
RAK ICC offers a streamlined incorporation process for offshore companies, with the possibility of completing the entire process in just one day through the RAK ICC portal.
There are no limitations on the number of shareholders in an RAK ICC offshore company.
There is no need for a physical office for RAK ICC company formation. RAK ICC offshore companies have access to common law courts such as ADGM and DIFC.
Provides a diverse range of legal structures customized for various business objectives, making it ideal for RAK ICC company formation
RAK ICC offshore companies have the privilege of accessing common law courts like ADGM and DIFC.
Requirements of setting up an offshore company in RAK ICC
Single Shareholder
Authenticated Copies of Passports or Notarised Passports
Bank Reference Letter directed to the RAK Offshore Authority
Residential Proof
CV of the shareholder
Bank Statement copy for the last six months of the company
Multiple Shareholders
Attested Copy of the Applicant Company's Business License or Incorporation Certificate
Notarized Memorandum of Association for RAK ICC company formation
Notarized Shareholder’s Resolution
Copies of passports for all Directors and Share Holders
YABS UAE has multiple options of doing transactions with their customers. Effortlessly transform your transactions into convenient monthly payment options, utilizing our carefully curated selection of banking partners.
Process
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Make secure purchases for any YABS issued services using your credit card.
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Reach out to the banking services and inquire about the possibility of converting your purchase into an Easy Payment Plan.
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Choose from flexible payment terms of months.
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The standard terms and conditions of the banks will be in effect.
*Standard fees and terms of the banking partner shall be followed.
Steps in setting up your offshore business in RAK ICC
YABS UAE provides complete guidance and assistance throughout the RAK ICC company formation process, making the complex steps of establishing an RAK ICC offshore company in Ras Al-Khaimah International Corporate Centre (RAK ICC) straightforward and manageable.
Identify the name of your company and activities required to setup a business in RAK ICC. Make sure that the company’s name is not controversialBottom of Form.
Hire a local agent for RAK ICC Offshore Company
Contact one of the featured agents of RAK ICC, such as YABS UAE. We act as your intermediary with the government and RAK ICC, guiding you through the registration process for your RAK ICC Offshore Company.
Submit all the documents required for company formation in RAK ICC
Collect all the documents and provide them to RAK ICC authorized personnel for company formation.
Complete the necessary payments for your RAK ICC Offshore Company.
Submit the registration fees and associated expenses online, via cash, or through money transfers. After completing all requirements and processing the payment, you simply need to await the incorporation of your RAK ICC Offshore Company.
Open Bank Account
You will need to open a corporate bank account that will help in all the transactions. Such bank accounts are efficient and work seamlessly with RAK ICC.
Business Structures Under Sharjah Publishing City Free Zone (SPC)
Free Zone Establishment (FZE)
The Free Zone Establishment category is for businesses that will be owned by a single shareholder.
