Lowtax Network

Back To Top

Your Lowtax Account

Ras Al Khaimah: Tax-Efficient Sectors

Shipping

The RAK Investment Authority has an open yacht registry which has been conceived in response to growing demand for these facilities from leisure boat-owners. The intention is that owners will be able to register their vessels from anywhere in the world via a modern and secure registration system. In order to register their vessel in Ras Al Khaimah, owners need to transfer ownership to a Free Zone Company. A vessel such as a yacht is typically divided into 63 shares, a minimum of 33 of which must be owned by the company. The following requirements must be met to register a vessel in with RAKIA Offshore:

  • Original documents of sale must be presented
  • Proof must be provided of a Certificate of Survey and Tonnage Management issued by an approved Classification Society. If the vessel is more than 24 meters in length, an International Tonnage Certificate is required
  • Crew and yacht masters on mega-yachts must be certified by recognized certification authorities
  • A certificate of incorporation is needed if a company is applying for registration
  • An initial registration fee must be paid
  • A deletion certificate must be presented if the vessel is being removed from another register
  • Foreign language documents which are used in support of an application must be accompanies by a notarized translation and be certified by a notary public.

 

 

Back to Ras Al Khaimah Index »

Back to top