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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

Read more news

Ras Al Khaimah offshore

Ras Al Khaimah (RAK) is an Emirate in the United Arab Emirates (UAE). There are only two types of offshore companies available in the UAE, one being Ras Al Khaimah Free Trade Zone (RAK FTZ) and the other being Jebel Ali Free Zone Authority (JAFZA) in Dubai. At first JAFZA company was used as a typical offshore, but since the introduction of the RAK FTZ, RAK has become the main place to establish an offshore company in the UAE.

About companies in UAE

  • All business must be conducted outside the United Arab Emirates
  • Local office in the RAK of the UAE is not required
  • A non-RAK resident may be a director or shareholder
  • The company can hold a bank account anywhere in the world
  • Business related to banking or insurance must acquire a special license
  • Companies in RAK can be set up remotely

Tax system

  • RAK has double tax treaty with more than 30 countries
  • No tax regime for:
    • Deposits
    • Capital gain
    • Dividends
    • Interest
    • Corporate Income

Double tax treaty

United Arab Emirates have double tax treaty with Algeria, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China, Cyprus, Czech Republic, Egypt, Estonia, Finland, France, Georgia, Germany, India, Indonesia, Ireland, Italy, Kazakhstan, Latvia, Lebanon, Luxembourg, Malaysia, Malta, Mauritius, Morocco, Mozambique, Netherlands, New Zealand, Pakistan, Philippines, Poland, Portugal, Romania, Seychelles, Singapore, South Korea, Spain, Sri Lanka, Sudan, Switzerland, Syria, Tajikistan, Thailand, Tunisia, Turkey, Turkmenistan, Ukraine, Uzbekistan, Venezuela, Vietnam, Yemen.

Company requirements

  • Original Bank Reference
  • C.V.
  • Proof of Residence
  • Notarised Passport Copies of all Shareholders
  • Minimum share capital of AED 2000
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