Main characteristics

Kind of companyInternational company(IBC)
Legislation and authorityRAK Investment Authority is the reference authority in this tax haven and all the companies are subject to the “RAK Offshore Regulations 2006”
Information about company directorsThere is not a public register reporting the company officers
PrivacyFull anonymity guranteed
Account dutiesNo obligation of bookkeeping
TaxationNo taxes required
PropertyYou do not need to have a local partner to be the company’sowner, and you can hold up to 100% of the company
CommunicationsGood means of communications
Time zoneGMT+4.
Legal systemU.A.E Law
Capital to payNo minimum capital required
Minimum number of Directors/ShareholdersAt least 1 Director/Shareholder required
Shares to the bearerNot accepted
Costs€ 2500 company constitution – € 1000/year for its maintenance