Many of the businessmen and capitalists always prefer to establish offshore companies on their name but what are offshore companies?
An offshore company is a company or corporate office that the owners establish outside of their home country in order to avail benefits as they have to pay less tax than other companies. There are many companies in USA and if the owners of those companies open a company in New Zealand or other country, then it will be offshore companies. However, it is important for CEOs to see where they are building the company outside of their state because many countries do not provide befits to offshore ones.
Ras-al-Khaimah or RAK is one of the place that is ideal for establishing offshore company. It is one of the seven emirates in UAE that combine with other emirates to turn a place into the United Arab Emirates (UAE). It is an Arabic name that means top of the tent. The place is visited by natives and tourists because of its heartwarming beaches.
The place not only provides financial benefits to the companies but it is connected to Julfar port due to which they are facilitated with the ideal shipment and trading services.
Besides, the offshore companies are facilitated with following advantages
No income tax: Unlike other companies that people in their native land, every RAK offshore company does not have to corporate income tax which means a person can save its all money there and earn lots of profits. That’s the reason why businessmen choose to build such companies to hold assets and continue their business activities.
Company is completely owned by the owner: RAK would not ask the owner to register company on RAK’s name. The owner will have the cent percent ownership of it. Therefore, all profits and earning will be of the company and its employees.
Access to seaports: As discussed above, Julfar ports makes RAK an ideal place to open a company. You can use their seaports and seas to conduct your businesses in other countries and within countries easily.
Easy way to transfer foreign money: It will cost tax if you transfer foreign exchange to another country but RAKICC give you ease and let you transfer foreign exchange without any barrier. All you just need to do is to expand your business and earn profits.