The RAK Investment Authority (RAKIA) launched the International Business Company concept in January 2007 subjecting the IBCs formed under it to be regulated by the International Business Company Regulations 2006 – RAK Investment Authority.
The RAK Investment Authority (RAKIA) launched the International Business Company concept in Januray 2007 subjecting the IBCs formed under it to be regulated by the International Business Company Regulation 2006 – RAK Investment Authority.
Uniqueness of RAK Offshore
Besides this, RAK Offshore wants to invite their clients to register their private yacht and pleasure boats in Ras Al Khaimah. By registering yachts and boats with RAK Offshore, there will be lots of financial advantages including low initial registration and annual maintenance fees. The RAKIA has already signed a MoU with the Transport Authority in Abu Dhabi.
In the near future, the RAK Offshore will start offshore financial business activities and different kinds of trusts and foundations taking into consideration the growing demand for charitable trusts, funds and foundations.
A company registered inRas Al Khaimah Offshore is subject to the following restrictions.
No Ras Al Khaimah Offshore company shall