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Ras Al Khaimah: Offshore Legal and Tax Regimes

Tax Treatment of Offshore Operations

Amongst the incentives offered to companies operating within the Ras Al Khamah Free Trade Zone are:

  • No corporate or income taxes imposed
  • No import or export taxes
  • No sales or wealth taxes
  • 100% foreign ownership of businesses
  • 100% repatriation of capital and profits
  • Concessional rates on land leases

RAKIA offshore companies also pay no tax whatsoever except for incorporation and annual registration fees. For RAKIA Offshore companies there are no restrictions on the number of shareholders or directors, and they are under no obligation to hold an annual meeting or to file audited accounts.

RAKIA offshore companies cannot conduct business locally except with those supplying accounting, audit, legal and banking services, and staff cannot be employed locally.

 

 

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