So have you finally decided to establish an offshore company in RAK UAE? If yes, then this would be one of your best decisions because RAK in one of the major Emirates of UAE with great trade market. You will get various free zones there to establish your business with complete ownership. But on the same side it is also very important to arrange a power of attorney Dubai or RAK if your offshore business is in Dubai or RAK respectively.
In the following article you will find a stepwise guide for RAK offshore company formation so make sure that you read this whole article thoroughly till the end.
Get an approval
The first step to establish an offshore company is RAK is to get the approval. This approval is for two major things. The first one is your company’s name and second one is your business activity. Before applying for approval it is necessary to make both of these decisions wisely while keeping RAK rules and policies in mind. In this way your approval process will become easier.
After getting an approval for your company’s name and activities the next step should be to ensure the documentation process. In this step all you have to do is first of all sign all the essential documents and then you have to submit them in RAKIA which is a regulatory body or an investment authority of RAK offshore business. Make sure that this step is taken with great precautions to save you from any legal complication in the long run.
Pay the expenses
Although RAK is one of those trade regions which involves a very small startup cost but still it is very important to pay all those expenses appropriately. So after submitting all your documents make sure that you have paid the registration fees and all other incorporation expenses as well. You can pay these expenses via cash or through online transfer.
Create corporate bank account
As you got the approval, submitted all the documents and paid all expenses; now you are all set to start your business. But before that one last step which you will need to do is create a corporate bank account for your RAK offshore company. After this you can easily start your business operations without any further hindrance.