RAS AL KHAIMAH
Registering a company in Ras Al Khaimah free zone name must end with the word "Limited" or "Incorporated." The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Emirate, Municipal, Mutual Fund, Royal and Trust.
As a matter of local company law the company must maintain a registered office address within the Free Zone and appoint an approved registered agent. A registered agent’s office in the UAE or in the Free Zone can also be used as the registered office.
The company must have at least one shareholder (corporate shareholders are permitted). A secretary is required.
Ras Al Khaimah Zone registered company must have at least one Director (corporate director are permitted). There is no minimum share capital requirement but par value of each share must be AED 1.000. Bearer shares are permitted. Different classes of shares are permitted and shares have to be fully paid when allotted.
The country has no income tax. The only exceptions are the oil production industry, and foreign bank branches. There is also no personal taxes. Direct taxation in the UAE contravene traditions and it is unlikely that will be introduced in the near future.
The Company must maintain proper accounting records, which must be kept for 7 years from the date on which they were prepared. Accounts must be approved by the directors and signed by one of them. The accounts do not need to be filed with RAKFTZ Authorities.
Every company shall maintain minutes of all proceedings at the general meetings. The Register of Members shall be open for inspection by any member of the offshore company.
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