In September 2006, Ras Al Khaimah Government launched an offshore facility, the second in the UAE, which is regulated by the Ras Al Khaimah Free Trade Zone Authority International Companies Regulations 2006.

Features of Ras Al Khaimah Offshore Facility:

• 100% foreign ownership.
• Although all UAE companies follow UAE law RAKFTZ have allowed the International Company to decide which favored jurisdiction it wants applied for inheritance, disputes or any other matters. The law must be cited in the Memorandum & Articles of Association.
• The International Company can own real estate properties on Palm Islands, or any properties owned by Nakheel Company LLC, EMAAR, or any other real estate properties approved by the RAKFTZ Authorities.
• Despite a general prohibition on International Companies to conduct business with persons resident in UAE, the Authorities frequently allow offshore companies to hold shares in both offshore and onshore UAE companies (i.e. local LLC companies).
• The International Company can hold a bank account in the UAE for the purpose of conducting routine operational transactions and can also maintain professional relations with legal consultants, accountants and management companies or other similar persons carrying out business within UAE.
• Incorporation documents can be signed at the offices of IMPACT without having to visit RAKFTZ.
• The Company will not be allowed to carry on business with people who are resident in the UAE or carry out any trade in the free zone or in the UAE.

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