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Ras Al Khaimah allows licensed offshore companies to conduct commercial activities on its territory

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Licensed offshore businesses will be able to conduct their commercial activities on the Ras Al Khaimah territory through their subsidiaries from now on. The only condition for this to happen is the registration of the company at RAK International Corporate Centre (RAK ICC). The registration will permit businesses to enjoy some additional benefits, among which:

  • no corporate nor personal tax;
  • possibility to repatriate 100% of capital and profits;
  • no currency restrictions;
  • more space for offices;
  • possibility to open a corporate bank account;
  • possibility to ask for UAE visas.

The decision mirrors the will to make Ras Al Khaimah an attractive hub for global investments.

Edited by Susanna Schiavon
Source: https://gulfnews.com/business/markets/ras-al-khaimah-allows-licensed-offshore-businesses-to-carry-out-mainland-activities-1.1629705177148