Oct 18 2011
Why to open up a company in United Arab Emirates (UAE)
Due to the fact that the jurisdiction of RAK – Ras Al Khaimah has been promoted as the offshore location, there is not the stigma of typical offshore jurisdiction and not being black listed by the OCDE. This is the biggest advantage once you register company in UAE. The Emirates fall under the ZERO TAX jurisdiction and therefore has no issues of VAT, Corporation Tax.Tax on rental income, CGT Tax or IHT Tax.
100% repatriation of profits and capital is allowed
No withholding nor import or export taxes
No accounting or reporting requirements
No corporate taxes are charged
Advantage of RAK Free Trade zone
International Business Company – IBC in Ras Al Khaimah – RAK – bear in mind that company business needs to be operate outside of the jurisdiction. This is the main requirements if you want to trade in United Arab Emirates, you should consider to open up a company in BVI. (e.g.)
Offshore bank account requirements
We do work with Barclays in Dubai. This is our standard bank which we offer to our clients. If you wish to open up a bank account with HSBC, Standard Chartered or chose your own bank. The most important matter to look at is to be sure whether the bank requires the minimum initial deposit. For Barclays in Dubai, it’s zero.