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  • The RAK Premium Package

    A premium combination of RAK ICC company and
    RAK Economic Zone company incl. office and investor visa

     

    The advantages of a RAK ICC
    company

    • There is no minimum capital requirement for the RAK ICC;
    • It has limited liability;
    • Any company that wants to move its headquarters to the UAE can become a RAK ICC;
    • Can be owned 100% by a foreign entity;
    • As a parent company of the RAK Economic Zone, it combines the advantages of a non-resident company with the benefits of an internationally recognised entity with permanent facilities (CFC-Rules);
    • Through the formation of a subsidiary, the RAK Economic Zone company, the RAK ICC can benefit from the Double Taxation Treaty of the UAE;
    • Can benefit from the advantages of International Banking in the UAE;
    • Is subject to 0% corporation tax;
    • All dividends can be allocated tax-free to partner(s);
    • Is not subject to trade tax;
    • Has access to the ‘Common Law’ courts;
    • Has no limitations in regards to currencies, capital utilisation or profit distribution;
    • Has no obligations to disclose financial accounts;
    • Is also particularly suited as a tool to manage one’s own assets and real estate investments within the UAE;
    • Is managed directly and locally by Privacy Management Group.

    Advantages of a rak economic
    zone entity

    • Can also be owned 100% by a foreign entity;
    • Has its own corporate facilities and therefore fulfils the substance requirements and takes international CFC-Rules into account;
    • Offers the investor(s), family members and foreign employees the opportunity to take up residence through the investor or residence visa;
    • Can utilise the advantages of the existing international Double Taxation Treaty;
    • Is ideally suited to international businesses and is recognised on a global level;
    • As with the RAK ICC, the RAKEZ company is subject to 0% corporation tax;
    • All dividends can be distributed completely tax-free to private persons as well as the parent company RAK ICC;
    • Is not subject to any commercial taxation;
    • Can fully utilise the advantages of International Banking;
    • Is managed directly and locally by Privacy Management Group and can therefore fully benefit from the complete RAKEZ service package.

    Implementation of this premium product

    As a first step, the parent company RAK ICC, will be established in the Emirate Ras Al Khaimah, in the UAE. Immediately after follows the formation of the subsidiary in the RAK Economic Zone (RAKEZ). With this combination you, as the investor, can fully enjoy the advantages of both company models. The subsidiary, also known as the RAKEZ company, therefore fulfils the necessary substance requirements for international operations.

    Formation of the RAK ICC
    company
    No limitations on international ownership, (possible up to 100%).
    Tailored solutions.
    Full-Service package from a single source.
    Formation of the RAKEZ
    company
    Access to the benefits of the Double Taxation Treaty.
    A company with substance.
    Possibility to apply for stay visas for the investors as well as the employees.
    Premium product

    Advantages of taking up residence in the United Arab Emirates
    Investor Visa / Residence Visa

    In the UAE the ‘Open Door Policy’ applies. This means that the shareholders (investors) of a RAKEZ company and their family members (spouse and children), as well as foreign employees, have the right to apply for the appropriate residence visa within the whole of the United Arab Emirates.

    The advantages:

    • No taxation on salary, dividends or other income;
    • Excellent quality of life and living;
    • Highly advanced telephone and internet technology;
    • Low energy costs;
    • Access to international schools and universities with the highest standard of education;
    • Exceptionally modern sport and leisure facilities;
    • Uncomplicated access to private accounts on a national and international level;
    • Security – extremely low crime rates.

    For the investor or residence visa to remain valid it is not absolutely necessary to be personally present for 183+ days. The respective visa retains validity as long as the visa holder returns to the UAE within six months of leaving.

    TAX RESIDENCE CERTIFICATE FOR
    NATURAL PERSONS IN THE UAE

    Under certain circumstances it is possible for persons in the UAE to apply for a tax residence certificate. For this, the respective authority needs the following documentation and evidence:

    • A copy of the residence visa in the passport (issued within the previous 180 days before application)
    • A copy of the Emirates-ID
    • Bank account statements from the previous six months, certified by the bank
    • Proof of income in the UAE (for example invoice of dividends)
    • Submission of the entry and exit report (GDFR/here the 183-day rule applies)
    • Certified copy of the rental agreement or title deed
    • Payment of the respective fees
    TAX RESIDENCE FOR LEGAL PERSONS
    IN THE UAE
    • Copy of a valid trade license
    • Certified copy of the rental agreement or title deed
    • Copies of a valid passport, visa and Emirates-ID of the company director
    • Most recent audited and certified annual accounts or statements of the company’s UAE bank account for the last six months
    • Payment of the application fees

    RAK ICCs, namely offshore companies, are of course not eligible to apply for this certificate. The application process is done through the United Arab Emirates Ministry of Finance.

    Legal Notices

    Privacy Management GroupFZ-LLC regularly checks and updates the information on its websites. Despite all due diligence, it is possible that some facts have changed in the meantime. It is therefore not possible to assume liability or provide any guarantee as to the relevance, completeness or correctness of the information provided. The same applies for all other websites that are accessed through the hyperlinks provided. Privacy Management GroupFZ-LLC is not responsible for the content of websites that are accessed through these links. Furthermore, Privacy Management GroupFZ-LLC reserves the right to make changes or additions to the content provided. In addition to the content and structural copyright protection rights of Privacy Management GroupFZ-LLC websites, the reproduction of information or files, in particular the use of texts, extracts or images, is prohibited without the prior written consent of Privacy Management GroupFZ-LLC.

    None of the content on any of the Privacy Management GroupFZ-LLC web pages represents an individual recommendation nor is it to be understood as an invitation to trade, default or purchase. Privacy Management GroupFZ-LLC also explicitly points out that you should seek advice from experienced tax consultants and/or lawyers, in particular for any cross-border activities. In principle, any income generated domestically or internationally is subject to taxation. It is solely your responsibility to fulfil your domestic and/or international tax obligations appropriately. Privacy Management GroupFZ-LLC does not accept liability under any circumstance. Additionally, our General Terms & Conditions as well as our Data Protection Provisions and Legal Details apply.

    Asset Protection

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of Panama, it makes sense to have at least local managing directors/directors in Panama. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in Panama. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in Panama on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in Panama are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 740.00
    Registered agent annually USD 245.00
    Registered office annually USD 245.00
    Corporate franchise fees annually USD 300.00
    annually

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in the Seychelles. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in the Seychelles on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in the Seychelles are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 190.00
    Registered agent annually USD 210.00
    Registered office annually USD 210.00
    Corporate franchise fees annually USD 190.00
    annually

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of the Seychelles, it makes sense to have at least local managing directors/directors in the Seychelles. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of ‘location of decision-making power’. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides. .

    Should you intend not to take on the position of local manager/director, despite having an investor visa, we can provide you with the appropriate trustee-service that will manage this position for you – a nominee is a natural person residing in the UAE. Similarly, should you not wish to officially appear as a shareholder of your Freezone-company in RAK, even in this case we can satisfy your requirements through the use of an appropriate Nominee-company. Let’s talk about it, we are at your disposal!

    CFC-Management Packages

    The international CFC-Rules are of particular importance when a Panama company wants to, for example, send invoices to companies based abroad.

    Each country implements CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through ‘denied business expenses’ in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.

    CFC Management Packages

    The international CFC-Rules are of particular importance when a Seychelles company wants to, for example, send invoices to companies based abroad.

    Each country has implemented the CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through "denied business expenses" in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.