Register your RAK IC company in the same day!

 

If you wish to incorporate a Company in RAK IC, our team of skilled legal advisers can assist you with the Company Formation and the subsequent opening of a Bank Account so that you can start and go about your business immediately and effectively.

 

Get A Quote

Our Commitment to you:

  • Provision of corporate directors
  • Provision of corporate shareholders
  • Corporate and secretarial services
  • Open a same day bank account with e-banking and credit card following incorporation
  • Secure you tax optimisation
  • Accounting services
  • Liaising with the Registered Agent in Ras Al Khaimah
  • Liaising with the client
  • Deliver your RAC IC Company within 5 days
  • Offer value for money services with no hidden costs
  • Full confidentiality

rak-ic-company-formation

 

 

 

Parameters to Consider

  • No UAE residency visas are issued through an International company;
  • No physical office is allowed or required through an International company;
  • No trade license is provided through an International company as no activities are allowed within the UAE;
  • A registered agent is a must. An international company cannot be incorporated without the assistance of a registered agent.
  • No business transactions or activities are allowed within the UAE through an international company but you can easily open a bank account in the UAE.
  • A company incorporated under laws of a foreign jurisdiction can continue its existence as a company registered under that specified Act. RAK Offshore IC may also transfer their domicile to foreign territories that permit such procedures.
  • An IC may only operate within the activities outlined and approved of in the official memorandum.
  • Double taxation avoidance agreements (DTAA) prevent individuals and corporations from having to pay tax on same item during the same time period.

Ras Al Khaimah is one of seven emirates comprising the United Arab Emirates and became a member of the Federation in 1972. As is the practice with a number of emirates, Ras Al Khaimah, maintains a Free Trade Zone in which international business can be conducted free of local taxes and regulations.

Ras Al Khaimah is one of the fastest growing emirates in one of the fastest growing economies in the world, the UAE. Renowned for its natural beauty, Ras Al Khaimah has also gained a reputation for being a transparent, corruption-free, tax-free jurisdiction to carry out business.

Otherwise referred to as a Non-resident Company, International Business Company and International Business Corporation (IBC), the RAK IC remains the most popular option for foreign companies seeking: to establish a presence in the Middle Eastern region, asset protection, confidentiality of financial accounts and to benefit from tax free schemes.

RAK offers investors and foreign companies a political stable environment, financial solidity with minimal financial risk (Moody’s credit rating of Aa3), with next to zero crime, in a strategic region that connects itself with regional markets, while also providing a critical link between the East and the West.

A RAK Offshore Company provides total banking privacy and a lifestyle which is better than most sought-after destinations in the world. The RAK Investment Authority is the governing authority and companies are regulated under the RAK Offshore Regulations 2006.

Should you need to open a bank account, we have excellent relations with UAE banks and can provide bank introductions. Furthermore, we can assist you with the visa and work permit process. Our team will guide and assist you every step of the way.

One of the important features of a RAK Offshore Company is that its company documents do not need any attestations for use in the UAE, Saudi Arabia, Qatar, Oman and Bahrain.

Our team of specialized consultants help companies and individuals with the establishment, management and administration of companies including Offshore Company Entities, and Holding Structures to meet the client’s specific objectives. Our broad range of expertise includes corporate legalization, Onshore and Offshore, corporate re-structuring, wealth protection and succession planning through offshore structures, cross-border investment and foreign market entry and tax planning.

Basic Characteristics

  • A minimum of one Shareholder, Director and Secretary
  • Bearer shares are not permitted
  • Only registered shares are permitted
  • The Company may own shares in other UAE companies or elsewhere
  • Financial records, accounting books and minutes may be kept wherever decided by the Directors
  • Board meetings can be held anywhere in the World
  • Ability to maintain bank accounts in the UAE
  • The purchase and ownership by the company of its own shares is permitted
  • Able to trade in or own an interest in real property except in Dubai
  • Statutory power to engage in any lawful activities
  • Incorporation procedures can be completed within five working days.
  • Corporate documents are produced in the English language
  • A corporation can continue as a RAKIC provided the laws of the jurisdiction of original incorporation specifically permit it to continue to another jurisdiction

A corporate domicile can be changed to another jurisdiction

Once our team of specialized corporate consultants at our Firm receive all documents, incorporation can be completed within five working days.

Companies or individuals seeking an offshore company formation in the United Arab Emirates are required to satisfy the below criteria.

  • The minimum capital requirement of a RAKIC is AED 1,000
  • Minimum of one shareholder
  • Minimum of one Director in which the powers and duties are to be specified in the memorandum
  • Company name needs to be approved by the RAK Free Zone Authority
  • Memorandum needs to include share capital, share value, power of Directors and object of the company notarized in a UAE Court
  • It is imperative to keep financial records in office whilst they remain confidential
  • shareholders or Directors are not required to be present for the signing of incorporation documents
  • Select a name for the company and have it approved by the RAK Free Zone Authority (we are able to supply you with a list of approved names to choose from)
  • Confirmation that the share capital has been paid
  • Bank Certificate confirming of deposit of the minimum share capital

The following documents are required for the incorporation of your RAK IC Company:

For individual applicants we need the following documents for each shareholder and director:

  • Passport copy – either notarised or presented to us for verification.
  • Brief CV – containing personal, educational and professional details
  • Original bank reference letter addressed to Parparinos Milonas Corporate and Legal
  • Original proof of personal address – not more than 3 months old.

Should the client wish for us to act on his behalf, we will then need a Power of Attorney which is properly notarised in the country of residence and then legalised up to the Ministry of Foreign Affairs in Dubai. .

For Corporate applicants, we require:

  • A notraised copy of the Certificate of Incorporation.
  • A notarised copy of the Memorandum and Articles of Association.
  • Original Certificate of Incumbency, should not be more than three months old.
  • Original Board Resolution calling for the establishment of a RAK IC.
  • Original bank reference letter addressed to Parparinos Milonas Corporate and Legal

Should the shareholders of the Corporate Entity wish for us or for another individual to act on their behalf, we will then need a legalised Power of Attorney authorising the relevant person to act / sign on their behalf.

It takes approximately five (5) days to incorporate a RAK IC once all the documents are ready. Various forms need to be signed by the client either in our office (subject to a Power of Attorney) and thereafter our team of specialized corporate consultants will manage the entire process.

 In the case that a bank account is required, we introduce the client to a reputable Bank, conduct the initial meeting which may be held at our offices so that the account signatory is able to sign the required account opening forms. Again we manage the whole process and ensure that all issues are dealt with straight away and that the account is opened with the minimum of delay.

It is our belief that RAK IC’s meet most client requirements with the added advantage that they are less expensive than alternatives, easy to incorporate, less expensive to open a bank account, offer valuable DTAA’s,  and come with the unique facility of specifying the jurisdiction of choice for litigation and the resolution of disputes. Our Firm can assist you with all the necessary steps to be taken for the incorporation process so that it is time efficient and cost effective.

 

Note: Shelf Companies are always available for immediate use.

  • Zero taxes and duties
  • No Tax Information Exchange Agreement with any country
  • Absolute privacy, confidentiality and protection of assets and information
  • 100% foreign ownership
  • Simple accounting requirements
  • Ability to maintain bank accounts in the UAE
  • Facility for company name reservation
  • Able to do business in the UAE with appropriate licence
  • No AGM or local shareholder/director requirements
  • Beneficial owner has option to choose the applicable law governing internal governance
  • Ability to issue multiple classes of shares, including restricted bearer shares and custodian shares
  • Legalisation of company documents not required when used within UAE
  • 100% confidentiality as there is no public record

  • Certificate of Incorporation
  • Certified copy of the Memorandum & Articles of Association
  • Registered office & Registered Agent
  • Certificate of Endorsement
  • Articles of Incorporation
  • Transfer of Subscription Rights
  • Share Certificate(s)
  • Initial corporate minutes resolution
  • Register of Directors
  • Register of Members
  • Appointment of First Directors
  • Consent Actions of the Board of Directors
  • Company Seal