Both offshore jurisdictions offer most of the services and the advantages are similar such as:
- Lower tax liability – No double tax agreements
- Limited reporting requirements
- Minimum capital requisites
- Absence of public register
- Strict confidentiality policies
But there are some key differences as well. If you are a business looking forward to setting up a business at the Dubai Offshore, the director will need to sign the company formation documents in person. But the RAK offshore gives the provision of doing this remotely, which is an advantage. Along with flexibility in regulations including a significant reduction in corporate directorship expenses, RAK offshore based company requires only one director. RAK is a well reputed offshore jurisdiction for companies operating in the financial sector in the Middle East.