RAK OFFSHORE is a comprehensive solution that not only provides an offshore location for international businesses and up-market financial services but also a strong yet flexible regulatory framework based on global best practices.
To deliver on the promise of a comprehensive solution, RAK OFFSHORE offers a combination of distinct but interconnected services and infrastructure.
An International Offshore Business Centre for non-resident entrepreneurs who need an offshore location to conduct business, and outsource back office activities. An upcoming International Offshore Financial Centre for offshore financial services companies and finance professionals.
An independent Registrar of Companies and Boats to deal with the incorporation and registration of all offshore corporate entities and marine vessels.
A Financial City to house the offices of RAK OFFSHORE as well as all the offshore businesses and financial services companies that domicile in RAK OFFSHORE. The office space options will range from ready-made offices available on a leasehold or freehold basis to freehold plots of land on which buyers can construct office buildings to suit their needs and taste.
An independent Financial Services Authority that will act as a regulatory and auditing body for RAK OFFSHORE. This will include as well all the financial companies and institutions in RAK OFFSHORE. The Financial Services Authority will be completely autonomous and will comply with all international as well as local regulations on AML and CTF.
|Location||Gulf||RAK OFFSHORE is the first comprehensive offshore centre in the Gulf region, offering services from IBCs to trusts and funds.|
|Time Zone||GMT+4||Between Europe and Asia. Open on Sundays.|
|International Business Companies||YES||First centre in the Middle East to offer IBC registration|
|Trusts||YES||First centre in the Gulf to offer trusts. Three types of trusts offered: General, Charitable and Corporate Trusts.|
|Offshore Banking||YES||Offshore banks can mortagage on projects and property within RAK Free Zones. Non-residents can use ATM and other services worldwide.|
|Yacht Registration||YES||Registration of non-resident pleasure boats.
Registration of commercial vessels for non-residents will be offered in the near future.