Image Credit: Supplied

To stay or go? Across the UAE, the fallout of the Covid-19 pandemic, coupled with the new Economic Substance Regulations (ESR), has caused many a company to re-evaluate their location. And with good reason.

If you’re one of these, here’s why you should think seriously about redomiciling to RAK ICC.

l It has the resources: To meet the above-mentioned ESRs, you’re going to need the required amount of physical assets, employees and core income-generated activities (CIGAs). The UAE has all the physical office space you need – not to mention a huge pool of talented people to choose from. You will also have access to common law courts. Here, you’re covered.

l They’re tailored to you: Do you feel that your current jurisdiction isn’t quite the right fit for your company? RAK ICC recognises that every company has unique needs and challenges. The days of one size fits all are long gone. It offers a range of solutions to ensure your company is geared up to meet the ESR - all the while enabling you to maintain your existing legal status.

l It won’t be a headache: Covid-19 has given us enough to deal with – you may be thinking you don’t need the extra complication of redomiciling. But with RAK ICC, there is no complication. A built-in effective back-office process ensures fast processing and — more importantly — you can preserve your operational and banking history. We offer a seamless one-stop-shop redomiciliation service, leaving you free to reap the benefits of this business-friendly location.

l Your business is your own: There’s a fine line between necessary disclosures and loss of privacy. If you have confidentiality concerns, this may be the place for you. While many jurisdictions are in the process of implementing public company registries according to UBO regulations, the UAE and RAK ICC are committed to keeping your information confidential.

l You’re in safe hands: Finally, in these uncertain times, RAK ICC is a safe bet. Unlike many jurisdictions that have been formally blacklisted for non-cooperation in terms of tax, the UAE sits firmly on the whitelist. You can be sure the infrastructure is set up to help you meet the necessary international business regulations.