Types of RAK International Corporate Centre (ICC) Companies
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Aaron Richards is a seasoned expert with over six years of experience who specializes in offshore company formation, trust and foundation setup, and corporate services. Through his blogs, Aaron shares valuable insights to guide clients in making informed decisions about their global business needs.
Frequently Asked Questions
RAK ICC (Ras Al Khaimah International Corporate Centre) is a well-known offshore company registry in the UAE, offering flexible structures, tax efficiency, and international recognition. It's popular because it provides a secure and business-friendly environment with 100% foreign ownership and confidentiality.
A Company Limited by Shares is the most common type of company in RAK ICC, ideal for businesses looking to issue shares to one or more shareholders. It provides limited liability protection and is often used for trading, consulting, and holding assets.
The main difference is that shareholders in a traditional company receive profits as owners of company shares, while a CLG operates without shares. Its primary purpose is to fulfill its mission rather than to generate profits for shareholders.
The Company Limited by Guarantee is ideal for non-profit organizations such as charities, associations, and clubs, as well as for shared property management. In contrast, the Company Limited by Shares structure is optimal for businesses that wish to trade internationally, hold assets, or make investments. Business people also use this structure for joint ventures.
An SPC allows businesses to separate assets and liabilities within different portfolios under a single entity. This type is suitable for investment funds or companies managing diverse assets while minimizing risk exposure.
No, RAK ICC companies are considered offshore and do not require a physical office space within the UAE. However, they must have a registered agent and office address in Ras Al Khaimah.
RAK ICC companies are primarily for international business and cannot conduct commercial activities directly within the UAE mainland. However, they can hold shares in UAE free zones or mainland companies.
The key benefits include 100% foreign ownership, no corporate or income tax, confidentiality and asset protection, international recognition, and flexible corporate structures.
It takes between 2 and 5 business days to incorporate an RAK ICC company, depending on the type of structure and the documentation provided.
Yes, but it depends on the bank’s requirements. Many international and local banks accept RAK ICC companies, especially when they are properly structured and have a clear business purpose.
Yes, RAK ICC is often used to register holding companies, which can own shares in other companies, intellectual property, real estate, and other assets internationally. It’s a popular structure for wealth management and asset protection.
