RAK International Corporate Centre (RAKICC) is a top UAE corporate registry formed by merging RAK Offshore and RAK International Companies, governed by the RAKICC Business Companies Regulations 2016.
With over 13,000 IBCs, RAKICC offers zero taxation, 100% foreign ownership, and confidentiality, making it ideal for global businesses seeking UAE advantages.
Before registering an OC you have to decide on the type of company setup and structure that suits your business needs:
Offshore Company: Ideal for international trading, holding company structures, and asset protection without conducting substantial business activities within the UAE.
Free Zone Company: Operates in free zones, allowing for benefits like full foreign ownership and tax exemptions while engaging in local and international business.
Choose a company name that complies with RAK ICC regulations. The name should not be already in use or reserved. It should also not contain any prohibited words or references that might imply governmental affiliation. The name of the company must end with a legal entity identifier such as “Limited” or “Ltd.”
A registered agent must be appointed to register an OC and act as the intermediary between the company and RAK ICC. An agent must be approved and licensed by RAK ICC to provide agent services in the UAE jurisdiction.
Necessary company documents includes:
OCs registered in ras al khaimah must meet strict compliance with international anti-money laundering (AML) standards. You will need to provide detailed information about the company’s beneficial owners, directors, and shareholders. This may involve background checks and other compliance measures.
Once all documents are submitted, you’ll need to pay the applicable registration and licensing fees. These fees vary depending on the company structure and business activities.
Upon submission and payment, RAK ICC will review the documents and conduct necessary due diligence checks. If everything is in order, the company will be registered, and you will receive:
Once your company is registered, you can open a corporate bank account in the UAE. Bank account opening requires the presence of the company directors or shareholders with physical presence in Dubai, and the submission of the company documents.
Depending on your business activity, you may require additional licenses or permits from other regulatory authorities in the UAE. This can include trading licenses, import/export licenses, and specific approvals for regulated activities.
Finally, set up your physical or virtual office as required, hire staff if needed, and commence your business operations under the legal protection and benefits offered by RAK ICC.
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The cost of forming a company with RAK ICC can vary based on the selected package and factors such as the type of business activities of the company, the number of shareholders, and office space requirements. Starting prices for registering RAK offshore company begin at USD 2,050 or AED 7,500
Yes, RAKICC permits companies established in other offshore jurisdictions to relocate their domicile or incorporate a company into RAKICC jurisdiction. The company being transferred will continue to exist without interruption. This allows you to relocate your offshore company from any jurisdiction that has undergone changes in its rules and regulations.
No, bearer shares are not allowed under RAKICC Regulations.
Setting up an company in Ras Al Khaimah offshore is significantly cheaper than Dubai offshore, particularly for holding real estate. The cost difference is approximately AED 9,000 in favor of RAK, offering a substantial saving compared to the typical costs associated with offshore company formations globally.
RAK Offshore Companies can engage in international trading, holding company activities, property ownership (with certain restrictions), consultancy services, and other non-operational activities within the UAE. However, they are not allowed to conduct business directly within the UAE market unless they hold shares in a UAE mainland company.
Yes, RAK Offshore Companies must renew their registration annually. This involves submitting updated documents, paying renewal fees, and confirming compliance with RAK ICC regulations.
Yes, RAK Offshore Companies can conduct e-commerce activities, provided these transactions are international. However, if the online business targets UAE residents, the company may need an additional trade license from a UAE free zone or mainland authority.
Yes, RAK Offshore Companies may own property in certain designated areas within the UAE, like Dubai’s freehold zones, but this is subject to approval by the relevant authorities.