What is an offshore company ? An offshore company (also known as an International Business Company), is a company which does not conduct substantial business in its country of incorporation. It is designed to be a flexible business instrument which can be integrated into a variety of tax planning and asset protection structures and arrangements. An ideal offshore company takes advantage of low taxation and stable government currency control in countries which are often termed ‘Tax Havens’.
Setting up and operating an offshore business uses the possibilities offered by certain countries for non-residents: tax, confidentiality and company structure. In exchange for an annual license fee such countries allow companies registered within their jurisdiction many tax freedoms.
As a separate legal entity an offshore company has full capacity to enter into any business transaction that an individual can lawfully undertake. Because it has limited liability, in most cases, neither the shareholders nor the directors are responsible personally to third parties for the company’s liabilities. However, persons owning and or operating offshore companies may still be held responsible for their own acts – for example when performing illegal functions such as assisting clients in fraud, money laundering etc.
Most people use offshore companies for the for asset security protections in jurisdictions with social, political or economic instability. Offshore companies provide legal mechanisms to ensure that individuals’ assets are protected from seizure or unwarranted loss. In addition many offshore jurisdictions provide the confidentiality and anonymity required by some clients.
RAK ICC Offshore is an international business company registered in the Emirate of Ras Al Khaimah, UAE. Such companies can perform essentially any type of business outside of the UAE. The Emirate of Ras Al Khaimah, where this type of company can be registered, is located about 1 hour from Dubai and is a renowned center for business for many MNCs. The opportunity to register an ICC company in Ras Al Khaimah is a highly attractive and proven solution for international business.
Chhokar & Co is a business name of SSC Services DMCC Company is Registered and Licensed as a FREE ZONE Company under the Rules and Regulations of DMCCA. Registered office: Level 20, Office 20 B, Gold Tower, Cluster I, Jumeirah Lakes Towers, PO Box 376169, Dubai, UAE