Offshore Company Formation in RAK: Complete 2026 Guide
A RAK ICC offshore company is one of the most cost-effective and well-regulated offshore structures available anywhere in the Middle East. Registered with the RAK International Corporate Centre (RAK ICC), a Government of Ras Al Khaimah entity, an offshore International Business Company (IBC) can be incorporated within two working days, requires no physical office in the UAE, and carries no minimum capital requirement. For foreign entrepreneurs, investors, and corporates looking for a credible UAE-linked structure, it is a compelling option well worth serious consideration.
It is worth knowing upfront that the UAE has only two recognised offshore jurisdictions: RAK ICC in Ras Al Khaimah, and the Jebel Ali Free Zone Authority (JAFZA) in Dubai. If you are exploring offshore formation in the UAE, these are your two choices. RAK ICC is generally the more cost-effective and versatile of the two, particularly for holding, intellectual property, and wealth-structuring purposes, while JAFZA is better suited to trade and logistics businesses that benefit from proximity to Jebel Ali Port.
This guide covers everything you need to know about offshore company formation in RAK: the regulator, company types, setup process, required documents, the 2026 government fee schedule, compliance obligations, and a plain-English breakdown of the key benefits. All fees and requirements referenced here are sourced directly from RAK ICC’s official publications.
What Is a RAK ICC Offshore Company and Who Regulates It?
Who is RAK ICC?
RAK International Corporate Centre (RAK ICC) is a government-owned corporate registry based in Ras Al Khaimah, UAE. According to RAK ICC’s official website, it was formed through the consolidation of two earlier IBC registries, namely RAK International Companies and RAK Offshore, and has since grown into a leading global wealth and corporate structuring centre. The registry operates under the laws of the emirate of Ras Al Khaimah and adheres to Federal Laws of the United Arab Emirates.
RAK ICC operates from the RAKBANK Headquarters building on Al Ghafat Road, Ras Al Khaimah. It is recognised internationally for its strong regulatory framework, commitment to compliance, and the breadth of structuring vehicles it offers. As of 2026, the registry has processed over 40,000 incorporations across 160 nationalities, which gives it a scale and legitimacy comparable to established offshore centres such as the British Virgin Islands or the Cayman Islands, but with the added advantage of being domiciled in the UAE.
What is the legal framework governing RAK ICC companies?
RAK ICC companies are governed by the RAK ICC Business Companies Regulations 2018, along with subsequent amendments. The jurisdiction operates under a common law framework and, critically, companies incorporated with RAK ICC have access to the DIFC Courts and the ADGM Courts for dispute resolution. This is an unusual feature for an offshore centre and significantly increases confidence for international investors who want their contracts and corporate documents to be enforceable in a recognised legal forum.
Constitutional documents, including the Memorandum and Articles of Association, can be issued in dual languages. The UAE legal system, combined with the common law overlay at RAK ICC, provides a robust and internationally understood framework for corporate structuring.
How does a RAK ICC offshore company differ from a free zone or mainland company?
This is an important distinction that many first-time enquirers miss. A RAK ICC offshore company is fundamentally different from a free zone or mainland company in three key ways.
| Feature | RAK ICC Offshore (IBC) | Free Zone / Mainland Company |
| Physical office in UAE | Not required | Required |
| UAE residence visa | Not available | Available |
| Trade within UAE | Not permitted (international business only) | Permitted |
| Annual financial accounts filing | Not required | Required for mainland |
| Minimum setup cost | From AED 3,250 per year | Typically AED 10,000 or more |
The key practical implication is that a RAK ICC offshore company is designed for international business operations, holding assets, and structuring, not for conducting day-to-day trade inside the UAE. If you need a UAE residence visa or want to operate retail or service premises within the UAE, you will need a free zone or mainland company instead, or consider RAK ICC’s Premium Product, which combines an offshore IBC with a RAKEZ business address.
What Types of Companies Can I Register with RAK ICC?
According to RAK ICC’s official company types page, there are five types of International Business Companies (IBCs) that can be registered at RAK ICC. Choosing the right type depends on your business purpose, liability preferences, and the nature of your operations.
Company Limited by Shares (CLS)
A Company Limited by Shares is the most commonly used structure at RAK ICC. In this type of company, the liability of each shareholder to creditors is limited to the amount unpaid on their shares. This means shareholders are not personally liable for the company’s debts beyond their initial investment. The CLS is suitable for trading, holding, investment, and most general international business activities.
RAK ICC permits different classes of shares, and the ability to register a share pledge, which is useful for financing and security arrangements. Up to 50 shareholders may be admitted, and a minimum of one is required.
Company Limited by Guarantee (CLG)
A Company Limited by Guarantee can be set up as a company authorised to issue shares or as a company without share capital. In the latter structure, each member guarantees a fixed sum in the event of winding up rather than holding shares. This structure is commonly used for non-profit organisations, professional associations, and charitable foundations where distributing profits is not the primary purpose.
Restricted Purposes Company (RPC)
A Restricted Purposes Company is designed to act as a special purpose vehicle (SPV) for focused, limited operations. According to RAK ICC’s official guidance, a RAK ICC RPC is permitted a maximum of two specific activities. It is well suited to securitisation vehicles, project finance structures, and any transaction where ring-fencing a specific purpose from a broader corporate group is important.
Segregated Portfolio Company (SPC)
A Segregated Portfolio Company, sometimes referred to as a protected cell company (PCC), is a company in which separate portfolios of assets and liabilities are legally ring-fenced from each other within the same corporate entity. Each portfolio is legally isolated, meaning the assets of one portfolio cannot be used to meet the liabilities of another. The SPC is particularly popular in the insurance, investment fund, and asset management industries. RAK ICC charges an additional fee of AED 1,500 (~USD 409) per portfolio registered.
Unlimited Company
An Unlimited Company is a hybrid corporate structure that can be incorporated with or without share capital. Unlike the other types, shareholders of an unlimited company carry unlimited personal liability for its debts, which is a significant risk consideration. In practice, this structure is rarely used in commercial contexts but may suit specific legal or contractual arrangements where unlimited liability is acceptable or desired.
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What Are the Steps to Set Up a RAK ICC Offshore Company?
According to the official RAK ICC company formation page, the incorporation process follows a three-step procedure. All applications must be submitted through an accredited RAK ICC Registered Agent, not directly with RAK ICC. The timeline from document submission to Certificate of Incorporation is within two working days.
Step 1: Choose your company type, name, and activities
Before approaching a Registered Agent, you should have a clear idea of what you want to use the company for. Decide on your company type (CLS is the default choice for most), identify your business activities (a minimum of one activity is required; more than three at activity group level attracts an additional fee of AED 550 per activity), and prepare three proposed company names in order of preference, in case your first choice is not available. RAK ICC has a name policy that restricts certain words and requires names to reflect the company’s activities.
Step 2: Appoint a RAK ICC Registered Agent
All RAK ICC companies must be incorporated through a registered agent who is accredited by RAK ICC. The registered agent provides the registered office address for the company, submits the application on your behalf, and acts as your ongoing point of contact with the registry. RAK ICC maintains a publicly searchable Agents Directory on its official website at rakicc.com. Registered agents charge their own service fees on top of the RAK ICC government fees listed in the next section.
Step 3: Prepare and submit your incorporation documents
Your Registered Agent will provide you with a document checklist aligned to the type of company and shareholder structure you have chosen. The RAK ICC official incorporation checklist is available for download from the company formation page at rakicc.com. Once your Registered Agent confirms all documents are in order, they submit the application to RAK ICC. No in-person attendance at the RAK ICC offices is required.
One significant advantage worth noting: according to RAK ICC’s official FAQ, RAK ICC does not require the legalisation of corporate documents from foreign jurisdictions. This removes a common administrative burden and accelerates the process considerably when shareholders or directors are based outside the UAE.
Step 4: Receive your Certificate of Incorporation
Upon approval, RAK ICC generates the Certificate of Incorporation and associated registers electronically. These documents are made available for download within the service request, so access is immediate. The constitutional documents, including the Memorandum and Articles of Association, are also generated at this stage. RAK ICC offers dual-language constitutional documents. Your Registered Agent will then provide you with a full set of company documents, which you will need for opening a bank account.
What Documents Are Required to Register a RAK ICC Offshore Company?
The required documents vary depending on whether the shareholders are individuals or corporate entities. The following lists are based on the standard RAK ICC incorporation checklist available on the official RAK ICC website. Your Registered Agent may request additional documents depending on your risk profile and the nature of your business activities.
Documents Required for Individual Shareholders and Directors
- Passport copies: A valid, certified copy of the passport for each individual shareholder, director, and beneficial owner (UBO). The passport must be valid at the time of submission.
- Proof of residence: A utility bill, bank statement, or other official document confirming the residential address of each individual. Usually dated within the last three months.
- Personal profile: A brief biographical summary of each individual, covering professional background and relevant experience.
- Business profile: A description of the business activities the company will conduct and the individual’s role in those activities.
- Three proposed company names: In order of preference, for review against the RAK ICC name policy.
- Bank reference or Good Standing Letter: An original letter from the individual’s bank confirming the banking relationship and the customer’s good standing.
Documents Required for Corporate Shareholders
- Certificate of Incorporation: A certified copy of the incorporating certificate of the corporate shareholder.
- Business licence or equivalent: A copy of the current business licence or equivalent regulatory document.
- Memorandum and Articles of Association: The constitutional documents of the corporate shareholder, confirming it has authority to hold shares in another company.
- Board resolution and power of attorney: A board resolution authorising the incorporation of the RAK ICC company, and a power of attorney authorising the relevant signatory.
- UBO and director profiles: Profiles of all directors, shareholders, and the company secretary of the corporate shareholder.
- Passport copies of all directors: Valid passport copies for each director of the corporate shareholder.
- Proof of registered address: Confirmation of the corporate shareholder’s registered address.
- Bank reference letter: A reference letter from the corporate shareholder’s bank.
An important note on corporate structures: according to the RAK ICC 2026 Fee Schedule, for incorporation, amendment, and renewal applications involving more than three shareholders or directors, an additional fee of AED 200 per individual or AED 400 per corporate entity applies. Complex structures involving two levels of corporate shareholders attract an additional fee of AED 1,250, and three or more levels attract AED 1,750.
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What Are the Government Fees for RAK ICC Offshore Company Formation?
The following fees are taken directly from the RAK ICC Fee Schedule effective 1 January 2026, available on the official RAK ICC website. These are the government fees paid to RAK ICC. Registered agents charge their own professional service fees on top of these amounts; those fees are not included here.
Note that USD equivalents are indicative only, based on the fixed AED/USD rate of approximately 3.67. Fees and charges are subject to change by RAK ICC without prior notice.
| Service | Fee (AED) | Fee (USD approx.) |
| IBC Incorporation: 1 year | AED 3,250 | ~USD 885 |
| IBC Incorporation: 2 years | AED 6,700 | ~USD 1,825 |
| IBC Incorporation: 3 years | AED 9,600 | ~USD 2,614 |
| IBC Annual Renewal: 1 year | AED 3,950 | ~USD 1,076 |
| IBC Annual Renewal: 2 years | AED 7,250 | ~USD 1,975 |
| IBC Annual Renewal: 3 years | AED 10,650 | ~USD 2,902 |
| IBC with Corporate Service Provider Activity | AED 6,750 | ~USD 1,839 |
| Additional charge per SPC portfolio | AED 1,500 | ~USD 409 |
| Certificate of Good Standing | AED 750 | ~USD 204 |
| Certificate of Incumbency | AED 1,000 | ~USD 272 |
| Urgent processing fee (same-day, before 12:00 noon) | AED 1,250 | ~USD 341 |
A few important notes on renewal. According to the official fee schedule, a 30-day grace period applies from the company’s expiry date. After that, late renewal penalties apply on a graduated scale: 10% in the second month, 15% in the third, 25% in the fourth, and 50% in the fifth month. At the start of the sixth month, a strike-off notice is issued. A company that has been struck off can be restored to the register within three years, subject to payment of all outstanding fees, penalties, and a flat AED 550 restoration fee.
What Is the Minimum Share Capital Requirement for a RAK ICC Company?
There is no minimum share capital requirement for a RAK ICC offshore company. According to RAK ICC’s official features list, companies can be incorporated without having to contribute or deposit any particular minimum amount of capital. This is a significant practical advantage: you are not required to open a UAE bank account, transfer funds, or hold capital in reserve simply to complete the incorporation.
Although there is no minimum capital, your constitutional documents (Memorandum and Articles of Association) will record an authorised share capital and a number of issued shares. The standard template, available from RAK ICC’s official website, uses a conventional structure that your Registered Agent will guide you through. Should you wish to increase, decrease, or restructure your share capital after incorporation, the applicable amendment fees are set out in the 2026 Fee Schedule (for example, changing the authorised capital costs AED 750, and allotting increased shares to existing shareholders costs AED 1,250).
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Can I Get a UAE Residence Visa Through a RAK ICC Offshore Company?
No. This is one of the most important distinctions between an offshore company and a free zone or mainland company. A RAK ICC offshore International Business Company does not have the ability to sponsor UAE residence visas for shareholders, directors, employees, or family members. The offshore structure is designed for international business and holding activities, not for establishing a UAE-based presence with resident staff.
If securing a UAE residence visa is one of your objectives, you will need a separate free zone licence or mainland company. That said, RAK ICC does offer a product called the Premium Product, which is a collaboration between RAK ICC and the Ras Al Khaimah Economic Zone (RAKEZ). The Premium Product gives a RAK ICC offshore company a RAKEZ business address and access to RAKEZ facilities, though visa eligibility under this product should be confirmed directly with RAK ICC or your Registered Agent, as conditions apply.
What Office Options and Facilities Are Available for a RAK ICC Offshore Company?
Is a physical office required?
No. According to RAK ICC’s official corporate features list, there is no office requirement for a RAK ICC offshore company. The company’s registered address in the UAE is provided by its Registered Agent, which is a formal requirement for all RAK ICC companies. This means you do not need to lease commercial space, pay service charges, or set up physical infrastructure in Ras Al Khaimah or anywhere else in the UAE simply to maintain your offshore company.
What is the Registered Agent address and why does it matter?
Under RAK ICC Business Companies Regulations 2018, every RAK ICC company must have a Registered Agent at all times. The Registered Agent provides the company’s official address in the UAE, receives statutory correspondence, and maintains KYC records on behalf of the registry. This is not a trading address and cannot be used for receiving customer deliveries or operating a walk-in business. It is purely a registered address for legal and regulatory purposes.
If you need a business address that can receive correspondence and add credibility to your company profile without requiring a full office lease, many Registered Agents offer mail-handling and virtual office services at additional cost. These arrangements sit outside the RAK ICC fee schedule and should be negotiated directly with your agent.
What is the RAK ICC Premium Product and what does it offer?
The Premium Product is a collaboration between RAK ICC and the Ras Al Khaimah Economic Zone (RAKEZ). It allows an offshore IBC registered with RAK ICC to access RAKEZ business facilities, including a business address and, potentially, access to RAKEZ-licenced activities. This is a useful option for companies that want the cost efficiency and flexibility of an offshore structure but also want a recognisable business address within a UAE economic zone. Fees for the Premium Product are separate from the standard IBC fee schedule and should be confirmed with your Registered Agent or directly with RAK ICC.
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What Are the Key Benefits of Setting Up a RAK ICC Offshore Company?
100% foreign ownership
A RAK ICC offshore company permits 100% foreign ownership. There is no requirement to have a UAE national as a shareholder, director, or local sponsor. This is standard for offshore IBCs and is one of the core attractions of the structure for non-UAE investors. Unlike mainland companies (prior to the Federal Decree-Law No. 26 of 2020 reforms, which extended 100% foreign ownership to certain sectors), offshore companies have always allowed full foreign ownership as a foundational feature.
No UAE corporate tax on qualifying offshore income
The UAE introduced a federal corporate tax of 9% on taxable profits exceeding AED 375,000, effective for financial years starting on or after 1 June 2023, under Federal Decree-Law No. 47 of 2022. For offshore IBCs, the tax position depends on whether the company qualifies as a Qualifying Free Zone Person or falls outside the UAE tax base entirely because it conducts no business within the UAE. RAK ICC companies that are structured solely for international activities and do not earn UAE-sourced income will generally not be subject to UAE corporate tax. However, Economic Substance Requirements (ESR) and the application of the new corporate tax rules to your specific structure should be confirmed with a qualified UAE tax adviser.
Access to the UAE double tax treaty network
According to RAK ICC’s official website, companies incorporated with RAK ICC have access to the UAE’s broad network of double taxation treaties and bilateral agreements. The UAE has concluded over 130 Double Tax Agreements (DTAs) with countries across Europe, Asia, Africa, and the Americas. A UAE-registered entity, including a RAK ICC IBC, can potentially benefit from these treaties to reduce withholding taxes on dividends, interest, and royalties received from treaty partner countries, subject to substance and residency requirements.
Asset protection and wealth structuring
One of the most common reasons businesses and high-net-worth individuals form a RAK ICC offshore company is asset protection. A RAK ICC company can hold assets in the UAE, including real estate, bank accounts, and intellectual property, within a structure governed by UAE law. The UAE legal system provides robust protections against arbitrary seizure, and the common law framework at RAK ICC adds an additional layer of familiarity and enforceability for international investors.
For family offices and private wealth planning, RAK ICC also offers a Foundation structure (separate from an IBC) that can own assets and distribute income according to its founding charter, providing a degree of separation between the personal estate of the founder and the assets held within the structure.
Intellectual property holding
RAK ICC offers a specific Intellectual Property Holding Company structure for businesses wanting to centralise the ownership of trademarks, patents, designs, and other IP assets within a single UAE-linked vehicle. According to RAK ICC’s official IP Holding Company page, an IP holding company in Ras Al Khaimah acts as a subsidiary of the primary trading company, centralising IP ownership to simplify management, facilitate licensing arrangements, and potentially benefit from UAE tax treaty provisions on royalty payments.
No requirement to file financial accounts
According to RAK ICC’s official corporate features, offshore IBCs are not required to file annual financial accounts or audit reports with the registry. This is a significant administrative advantage compared to mainland companies, which must file audited accounts. While maintaining internal accounts for management and banking purposes remains good practice and may be required by your bank or counterparties, the absence of a mandatory filing obligation reduces the annual compliance burden and cost.
No minimum capital requirement
As noted earlier, there is no minimum capital requirement. This means you can incorporate and run a RAK ICC offshore company without having to inject, hold, or report on a minimum capital amount. This reduces the initial financial commitment for smaller businesses and startups while still providing access to a credible, internationally recognised corporate structure.
Common law framework with DIFC and ADGM court access
The ability to access DIFC Courts and ADGM Courts for dispute resolution is a distinctive feature that sets RAK ICC apart from most offshore jurisdictions in the region. Both the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM) operate independent court systems modelled on English common law. For international counterparties who want their contracts and obligations to be governed by a well-understood legal system with an independent judiciary, this access provides a meaningful level of assurance.
What Unique Structuring Solutions Does RAK ICC Offer?
The Global Product
RAK ICC’s Global Product is designed for businesses and individuals who need a corporate structure with an international presence, combining the UAE’s credibility with access to selected international partner jurisdictions. Details of the Global Product are available directly from RAK ICC and from accredited Registered Agents. It suits clients who want RAK ICC’s common law framework but also need flexibility in where their company is legally domiciled.
Transfer of Domicile
RAK ICC provides a Transfer of Domicile (also called Continuation or Re-domiciliation) service, which allows an existing corporate entity incorporated in another jurisdiction to migrate its registration to RAK ICC. This is particularly useful for businesses currently registered in jurisdictions that are facing increased compliance pressure, higher costs, or reputational concerns. The fee for re-domiciliation from within the UAE is AED 3,250, and from outside the UAE is subject to the standard IBC incorporation fee plus applicable service fees.
RAK ICC Foundation
A RAK ICC Foundation is a corporate body created with a legal personality that is separate from its founders. It is registered with RAK ICC and is particularly popular for family wealth planning, succession planning, philanthropic purposes, and asset protection. The Foundation operates according to its founding charter and can hold assets, make distributions, and carry on activities specified in the charter. Registration costs AED 1,500 (~USD 409) with an annual renewal of the same amount, plus an annual Foundation licence fee of AED 750. Amendments to the RAK ICC Foundations Regulations 2019 came into effect in 2025, and updated guidance is available from RAK ICC.
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How Does RAK ICC Compare to JAFZA and Other UAE Offshore Options?
As mentioned, there are only two recognised offshore jurisdictions in the UAE: RAK ICC and JAFZA (Jebel Ali Free Zone Authority). Both are legitimate, well-regulated options, but they are suited to different use cases. Here is a direct comparison based on publicly available information.
| Criterion | RAK ICC | JAFZA Offshore |
| Regulator | RAK ICC (Government of RAK) | JAFZA (Dubai Government entity) |
| Primary use cases | Holding, IP, asset protection, wealth structuring, international trading | Import/export, logistics, trading linked to Jebel Ali Port |
| Typical setup cost | From AED 3,250/year (RAK ICC fees only) | Higher; typically AED 8,000 or more per year |
| Legal framework | Common law, DIFC/ADGM court access | Civil/UAE law framework |
| Company types available | 5 (CLS, CLG, RPC, SPC, Unlimited) | Primarily Company Limited by Shares |
| Port and trade infrastructure access | Not directly linked to a major port | Direct access to Jebel Ali Port, a top-10 global port |
| Foundation/SPV options | Yes, including Foundation and SPV structures | Limited |
The general recommendation is this: if your primary need is a holding structure, IP holding, wealth planning, or an internationally flexible corporate vehicle at competitive cost, RAK ICC is the stronger choice. If your business is centred around physical goods moving through Jebel Ali Port, JAFZA Offshore may be worth the premium.
What Compliance and Reporting Obligations Apply to a RAK ICC Offshore Company?
Economic Substance Requirements (ESR)
The UAE Cabinet Resolution No. 57 of 2020 introduced Economic Substance Requirements for companies conducting certain types of relevant activities, including banking, insurance, fund management, finance and leasing, headquarters activities, shipping, holding company activities, intellectual property activities, and distribution and service centre activities. If your RAK ICC company conducts any of these activities, it must assess whether it meets the substance requirements and file an annual ESR notification and, if necessary, a substance report with the relevant regulatory authority.
Holding companies that only hold equity interests and receive dividends are subject to a reduced substance test. If you are unsure whether ESR applies to your company, this should be reviewed by a qualified UAE adviser.
Ultimate Beneficial Owner (UBO) register
In line with Cabinet Decision No. 109 of 2023 and related UAE federal requirements, all RAK ICC companies are required to maintain a register of Ultimate Beneficial Owners (UBOs) and report any changes to the UBO register within two weeks of the change occurring. RAK ICC enforces this through the Registered Agent, who is responsible for maintaining KYC records. Failure to notify RAK ICC of a UBO change within the required timeframe can result in penalties under the standard fines schedule.
Anti-money laundering (AML) compliance
RAK ICC adheres to the UAE Federal AML/CFT framework under Federal Decree-Law No. 20 of 2018 and its implementing regulations. As part of this, RAK ICC conducts ongoing risk assessment and monitoring of entities in its registry. Companies that are assessed as high-risk may be subject to enhanced due diligence (EDD) and a Differential Price on incorporation or renewal of AED 7,000 rather than the standard fee. This is applied at RAK ICC’s discretion based on the outcome of its risk assessment process.
No annual financial accounts filing required
As confirmed by RAK ICC’s official features list, offshore IBCs are not required to file annual financial accounts or audited reports with the registry. This does not relieve companies of the obligation to maintain proper accounting records internally, particularly given the UAE corporate tax framework and potential ESR requirements. Your bank may also require annual accounts as a condition of maintaining the account.
Tips:
Tip 1: Register for multiple years upfront (2 or 3 years) to lock in the lower per-year incorporation fee. A 3-year incorporation at AED 9,600 works out to AED 3,200 per year, saving AED 50 on year one and significantly more than the year-on-year renewal rate.
Tip 2: RAK ICC does not require legalisation of corporate documents from foreign jurisdictions. You can avoid the time and cost of apostille or notarisation for most corporate shareholder documents, but confirm with your Registered Agent for your specific country of origin.
Tip 3: Set up your renewal reminder at least 60 days before the expiry date. The 30-day grace period sounds generous, but in practice bank account renewals and other compliance steps linked to your company’s good standing certificate can take time.
Tip 4: If you intend to use a RAK ICC company to hold UAE real estate, obtain a No Objection Certificate (NOC) from RAK ICC before any property transaction. The NOC costs AED 1,250 per property and is required by developers and land registries.
Tip 5: Bank account opening is a separate process to company incorporation. RAK ICC provides your incorporation documents to support the bank application, but the bank conducts its own KYC process. Allow four to eight weeks for bank account opening after incorporation.
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Frequently Asked Questions About RAK ICC Offshore Company Formation
According to RAK ICC’s official FAQ, a company can be incorporated within two working days of the complete submission of documents through a Registered Agent. The practical timeline from first inquiry to receiving your Certificate of Incorporation is typically five to ten working days, accounting for document preparation and any back-and-forth with your agent on KYC requirements.
No. The entire incorporation process can be completed remotely. You deal with your Registered Agent, who submits the application on your behalf. No in-person attendance at RAK ICC offices is required. Once your company is incorporated, documents are issued electronically and available for download directly from the RAK ICC system.
Yes. A RAK ICC offshore company can purchase and hold real estate in the UAE, including in Dubai, Abu Dhabi, and Ras Al Khaimah, subject to property ownership rules in each emirate. This is one of the most common reasons investors form an offshore company in RAK. For each property transaction, RAK ICC issues a No Objection Certificate (NOC) at a cost of AED 1,250 per property. This certificate is presented to the relevant land department or developer as part of the purchase process.
Yes. According to RAK ICC’s official FAQ, RAK ICC facilitates the incorporation process and provides the necessary corporate documents for a bank application. Bank account opening is a separate process conducted directly between you and the bank of your choice. RAK ICC provides a banking guide to Registered Agents to assist with the process. Banks in the UAE and internationally can open accounts for RAK ICC companies, though each bank has its own KYC requirements.
There is a 30-day grace period from the company’s official expiry date. After that, late renewal penalties are applied on a graduated scale: 10% of the renewal fee in the second month, 15% in the third, 25% in the fourth, and 50% in the fifth month. After six months from the expiry date, the company is struck off the register. A struck-off company can be restored within three years by paying all outstanding fees, penalties, and a flat AED 550 restoration fee. After three years, dissolution is confirmed and the company is formally dissolved.
UAE VAT (introduced at 5% in January 2018 under Federal Decree-Law No. 8 of 2017) applies to taxable supplies of goods and services in the UAE. A RAK ICC offshore company that does not conduct taxable activities inside the UAE and has no UAE-based taxable turnover above the mandatory registration threshold of AED 375,000 will generally have no VAT registration obligation. However, this depends on the specific activities of the company and should be confirmed with a UAE tax adviser familiar with your structure.
Yes. According to RAK ICC’s official IBC FAQ, a struck-off RAK ICC entity can be restored to the register subject to the Registrar’s approval and payment of all outstanding penalties and charges for the period during which it was struck off, plus the flat AED 550 restoration fee. A struck-off company is only deemed dissolved after three years. Upon restoration, it is considered that its legal capacity has not been interrupted, and a Certificate of Good Standing can be issued post-restoration and renewal.
These are two distinct products under two separate regulators. A RAK ICC offshore company (IBC) is registered with RAK International Corporate Centre, carries no office requirement, cannot sponsor UAE residence visas, and cannot trade directly within the UAE. A RAKEZ free zone company is licensed by the Ras Al Khaimah Economic Zone (RAKEZ), requires at least a flexi-desk or office, can sponsor UAE residence visas for shareholders and employees, and can conduct specified activities within the UAE and internationally. The two can be combined through RAK ICC’s Premium Product, which provides a RAKEZ address for a RAK ICC IBC.
