|
Ras Al Khaimah is part of the United Arab Emirates, a constitutional federation of seven emirates located along the south eastern tip of the Arabian Peninsula. Qatar lies to the west, Saudi Arabia to the south and west and Oman to the north and east. The Federation was formally established in 1971.
Features 1. Type of Company. The International Company (IC) is the most popular option for foreign companies seeking to establish a presence in the UAE.
2. Restrictions on Trading. Can only operate within the activities detailed on the Memorandum.
3. Powers of Company. Companies Law stipulates that an IC may engage in any lawful activity except for insurance, banking and the investment of money for others and restrictions apply to conduct local business.
4. Language of Legislation and Corporate Documents.
5. Name Restrictions. Any name that is identical or similar to an existing name. Any name of a major international corporation where written consent to incorporate in not available. Any name that contains a registered trademark not owned by the company. Any name that the registrar may find undesirable, offensive or misleading.
6. Language of Name.
7. Names Requiring Consent or a Licence. In certain circumstances, the prior consent of a Federal Ministry or competent local authority will be required. These activities include: Oil & Gas, Banking & Investment, Financial Services, Insurance, Media, Transport, Construction, Telecommunications, Real Estate Management, Architectural and Engineering Consulting, Tourism, Shipping, Civil Aviation, Legal Services, Medical Services, Education. Any name that contains the words: state, government, municipal etc. and may wrongfully suggest a patronage of such.
8. Registered Office Required. Yes, must be maintained in RAK.
9. Suffixes to Denote Limited Liability. Ltd or Limited.
10. Disclosure of Beneficial Ownership to Authorities.
Statutory Requirements 1. Minimum one. Powers and duties to be specified in the Memorandum. Corporate Directors are permitted.
2. Minimum of one.
3. Authorised and Issued Capital. The minimum requirement for authorised capital is DHs 1,000 which must be fully paid up.
4. Classes of Shares Permitted. May neither be negotiable or divisible. Ordinary shares, preferred shares, deferred shares, and shares with or without voting rights.
5. Financial Statement Requirements
6. No Corporate, Withholding or Personal taxation.
7. Double Taxation Agreements.
Need Assistance INTERSHORES has over 20 years of corporate services experience and can assist you to set up your R.A.K.company. Please do not hesitate to contact INTRESHORES at info@intershores.hk or by whatsapp at (852) 6499 4686.
Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email : info@intershores.hk
Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice.
|
|
