RAK International Corporate Centre
(RAK ICC) is Ras Al Khaimah’s modern offshore (international business) regime, created in 2016 by merging the former RAK Offshore (RAKIA) and RAK IC (RAK Free Trade Zone) registries. A RAK ICC company is a non-resident, limited-liability International Business Company (IBC) that conducts all of its business outside the UAE mainland while benefiting from the UAE’s network of 47+ double-tax treaties, zero-tax status, and the option to hold UAE free-hold real estate and shares in on-shore entities.
Benefits
| Advantage | What It Means for You |
|---|---|
| 100 % foreign ownership | No local sponsor or Emirati partner required. |
| 0 % corporate, income & capital-gains tax | All foreign-sourced income is tax-free. |
| Single shareholder & single director allowed | One person can own and manage the company. |
| Same person can be shareholder and director | Maximum privacy and streamlined control. |
| No minimum share capital | Flexibility to start with as little as USD 1. |
| No annual accounts or audits | Low compliance burden and reduced running costs. A bank may still request financials. |
| Easy, low-cost annual renewal | Government renewal fee + agent fee only; no hidden extras. |
| English-language corporate documents | Clear, internationally accepted paperwork. |
| White-listed, OECD-compliant jurisdiction | Reputable image and easier bank onboarding. |
| May own free-hold Dubai property | Purchase units from master developers (Emaar, Nakheel, Dubai Properties, etc.). |
| Can hold shares in UAE on-shore LLCs | Structure operating businesses tax-efficiently. |
| Multicurrency banking in UAE & abroad | Open accounts once KYC is cleared. |
Types of Business Activities Permitted
| Category | Typical Uses |
|---|---|
| General Trading | Buying/selling goods offshore; acting as international trading intermediary. |
| Holding Company | Owning shares in overseas or UAE on-shore subsidiaries; asset-ring-fencing. |
| Investment / Joint-Investment Vehicle | Pooling capital for portfolio or JV projects. |
| IP & Copyright / Patent Company | Holding and licensing trademarks, patents, software. |
| Property-Holding SPV | Acquiring approved free-hold real estate in Dubai or RAK. |
| Shipping & Ship-Management | Vessel ownership, chartering, crew management. |
Not allowed: banking, insurance, re-insurance, or doing business with UAE mainland residents (except owning approved free-hold property).
Key Certificates (Licence Equivalent)
RAK ICC does not issue conventional commercial licences. Each company receives:
- Certificate of Incorporation – proof of legal existence.
- Memorandum & Articles of Association – state all permitted activities (drafted broadly to cover the categories above).
These documents collectively serve the same purpose a “licence” fulfils elsewhere.
Documents Required to Set Up
Individual Shareholder(s)
- Passport copy (valid ≥ 6 months) + UAE entry-stamp / residence-visa page (if any)
- Proof of address (utility bill ≤ 3 months or tenancy contract)
- Bank reference / good-standing letter (account active ≥ 2 years)
- Personal & business profile / CV
- Three proposed company names
Corporate Shareholder(s)
- Certificate of Incorporation *
- Memorandum & Articles of Association *
- Board Resolution & Power of Attorney authorising set-up *
- Certificate of Good Standing (or Incumbency Letter) *
- Shareholder register (optional but recommended)
- Directors’ / Secretary’s CVs or profiles
- Utility bill as proof of address for each corporate officer
- Bank reference letter for the corporate shareholder
* Must be notarised in the home country, attested at the UAE embassy there, then stamped by the UAE Ministry of Foreign Affairs.
Step-by-Step Incorporation Process
| Step | What Happens | Typical Time |
|---|---|---|
| Select Registered Agent | Choose an approved RAK ICC agent (e.g., Smart Business Creation). | Day 0 |
| Name Reservation & KYC | Submit three name options, shareholder IDs, CVs. | 1 – 2 working days |
| Draft MoA & Share Structure | Decide share capital, share allocation, director/secretary appointments. | Parallel |
| Sign Incorporation Pack | Shareholders sign originals (in person or via courier). | 1 day |
| File with RAK ICC Registrar | Agent submits documents & pays government fee. | 2 – 3 working days |
| Certificate Issued | Receive Certificate of Incorporation, share certificates, corporate kit. | 1 day |
| Open Bank Account | Provide company docs, business plan & KYC to chosen bank. | 1 – 4 weeks (bank-dependant) |
