Rak company and risks

[JackieTsan]

Hi to all

I'm under the process of creating a rak offshore in Dubai.

I found a very kind agent (from internet only) and i sent the papers he requested signed plus passport and rest information.

He came back and asked me my other company formation documents (I have another company offshore) and my police clearance certificate as he said that the rak authorities requested them.

I start worrying that by taking all those personal data from me I'm in danger.

Has anyone experienced the same through opening a rak offshore? Could the authorities indeed request to know another existing company and police clearance? I have nothing bad as past, and my name is 100% clear.

What is happening?

Thank you

 

[JohnLocke]

Could the authorities indeed request to know another existing company and police clearance?

Not sure how it is in the UAE but this I would refuse at any point. There is no need for them to know what else you have. Did you ask them to help you with a bank account too?

 

[KJK]

Well you always expose yourself to some form of "danger" by providing personal info - be it a local bank, an e-commerce store or random consultant via email. Not sure about police clearance but without these documents I guess you can't proceed.

I think this is a new rule that requires "police clearance" from all places where you've lived in the past years. I've seen this noticed in multiple cases, e.g. when someone wants to get a new residency or citizenship.

If you are suspicious or paranoid, you can go there locally and solve it yourself (though that is impossible now with coronavirus lockdown).

 

[JackieTsan]

He mentioned that we need the other company documents to prove that the source of income is from there...so he asked for the formation documents and share ownership papers.

He said this is only requested by the Dubai offshore authority. Also the police clearance. He specifically mentioned that he called them and they asked for EDD (Enhanced due diligence) documents.

He might help for bank account but they brought me in direct contact with bankers. The request is only for the company formation.

My question is, is that possible that offshore authority might have asked this or something is wrong here?

Many thanks

 

[KJK]

Do you mean a freezone authority? I don't think there is an "offshore authority"... Also in your first post you mention RAK and then you switch to Dubai which are two different things. Do your homework and make up your mind what you actually want.

 

[JackieTsan]

Rak @KJK it's rak authorities. I never mentioned free zone, it's not free zone it's rak which is offsbore
Thank you

 

[Brokenby2703]

I moved from RAK FZE (just de-registered last week) to RAK OFFSHORE which will act as HOLDING COMPANY for my other 2 in USA and LABUAN.
RAK ICC (OFFSHORE) sometimes require authorities for anti laundry money. The authorities in UAE want to be sure that this is not the only business activity you have. Many Iranian, Chinese, Taiwanese and drug trafficant use UAE OFFSHORE for washing their income.....
I did provide simplye because I have nothing to hide.... it's up to you if you feel safe it.
For the bank account opening in UAE for RAK OFFSHORE was quite tough indeed but I success.
If you plan to have a bank account in UAE be ready to sign up whatever they propose you.
In this period, due corona-virus, banks are relaxing and looking for new deposite.
If you have possibility to move in UAE bank at least US$ 100.000 you won't have difficult to have bank open doors.

 

[JackieTsan]

Many thanks for your response.

Questions: 1. My company is formatted. How Incan check online that it really exists, is there any site? At least to search with my company name or number and see is there...

2. They now ask for an updated police clearance certificate (after open the company). I'm clear at all, my only concern is that they might be using the papers for something illegal behind me..

Shall I need to give it?

Thank you

 

[Brokenby2703]

Many thanks for your response.

Questions: 1. My company is formatted. How Incan check online that it really exists, is there any site? At least to search with my company name or number and see is there...

2. They now ask for an updated police clearance certificate (after open the company). I'm clear at all, my only concern is that they might be using the papers for something illegal behind me..

Shall I need to give it?

Thank you

When you registered your ICC (OFFSHORE) company which should be LTD/LIMITED/LLC you should have a registration certificate from RAK ICC government office. Did you get it ?
If not, please ask your agent.

Regarding the point #2 I really don't know what you are talking about.
Who is asking that document ? Your agent ? For what ? Bank opening ?
Usually is not required unless you are applying for new RESIDENCE VISA.
You are not a UAE resident.
You are not allow any business in UAE
UAE doesn't care of you so they should not care of WHO YOU ARE and how clean you are.
Unless is a bank. But normally BANK never required this document.
Eventually they want any other of your business bank account statement
your personal bank account statement
Reference letter from the same bank.

 

[JackieTsan]

Hi and thanks

1. I mean how I know the X agent really open the company and the certificate is real? How Incan check online that the company really exists ,

2.yes the agent said that I have to send to the authority updated police clearance certificate in next month. Why? I'm afraid they get my papers for something else... And I worry me. Got it?

Thank you

 

[Brokenby2703]

Hi and thanks

1. I mean how I know the X agent really open the company and the certificate is real? How Incan check online that the company really exists ,

2.yes the agent said that I have to send to the authority updated police clearance certificate in next month. Why? I'm afraid they get my papers for something else... And I worry me. Got it?

Thank you

Sorry to ask you.
Did you set up a RAK ICC LIMITED company ?
If yes, did you get the RAK ICC official certificate like the one in attachment?
Did you get from your agent the following ?
- MOA
- REGISTER OF OFFICERS
- REGISTER OF MEMBERS
all duly signed and stamped by RAK ICC ?

Only registered agent can access RAK ICC database (Home - RAKICC - RAK International Corporate Centre)

Regarding point #2 I was never asked anything like this.
See in attachment the documents I supplied.

 

[Brokenby2703]

If you feel losing trust on your agent, I can ask my agent to check and follow up with you.
I can write to them saying that you have trouble to get it done with your local agent.
See if they are willing to assist you at least to check whether your ICC if properly formed.
Write in private a message and I will provide my agent email.
Then you talk to them.
They are super pro.

 

[JackieTsan]

They seem great people but I worry for all these papers I'm asked (like the police clearance old and new)...

And do you know how easy somebody can change these in Photoshop so if somebody wanted to get my money and not make actually company, he could fraud and change this in Photoshop and tell me company is running! That's what o want to confirm
That company indeed created really
Isn't there any directory I can check online that 5ue company exists?

How all banks etc verify that the company really exists? There should be a site or something..

 

[BlueMist]

How all banks etc verify that the company really exists? There should be a site or something..

I don't know for RAK but creativecity.ae do have license verification on their website.

 

[JustAnotherNomad]

I moved from RAK FZE (just de-registered last week) to RAK OFFSHORE which will act as HOLDING COMPANY for my other 2 in USA and LABUAN.

That sounds interesting.
What is the advantage with having a company in Labuan?
Are your US companies taxes as corporations (taxed as a US entity) or disregarded entities (pass-through taxation)? If they are disregarded for tax purposes, isn’t there much more paperwork and potentially US tax to be paid since it’s owned by a company and not an individual?

 

[llugguss]

In my opinion, requesting such data is an obvious attempt at fraud. No one has the right to request such confidential data. Your partner does not have to worry about your offshore activities while setting up in Dubai. If you gave this data, then you are definitely mistaken. I had a similar situation when I provided data on my income and position in the company where I worked. As a result, they fired me, and I was left without work. It's good that my friends knew how to talk to a living person at edd unemployment 2020 and I managed to get benefits in order to somehow live.