Offshore License – RAK ICC:
Why Choose RAK ICC for Offshore Company Formation?
RAK ICC is a preferred choice for offshore company formation due to its advantages:
• 100% foreign ownership
• No corporate or personal income tax
• Full repatriation of profits and capital
• Privacy and confidentiality for business owners
• Simplified incorporation process
• Strategic location with access to major global markets
• Compliance with international standards and regulations
RAK ICC is regulated under the Ras Al Khaimah International Corporate Centre Business Companies Regulations 2021, ensuring transparency and investor protection.
Permissible Business Activities for RAK ICC Offshore Companies
RAK ICC offshore companies are versatile and can undertake the following activities:
• Holding assets, intellectual property, or shares in other companies
• Conducting international trade (not within the UAE mainland)
• Operating as a family office for wealth management
• Serving as a special purpose vehicle for investments
• Offering consulting or professional services
Prohibited Activities:
• Conducting business directly with UAE residents or companies unless authorized
• Banking, insurance, and financial activities without specific approvals
Steps to Set Up an Offshore Company in RAK ICC
Required documents include:
• Passport copies of shareholders and directors
• Proof of residential address (e.g., utility bill)
• Bank reference letter
• Memorandum and Articles of Association (MOA/AOA)
Upon successful registration, you will receive:
• Certificate of Incorporation
• MOA/AOA
• Share certificates
Costs Associated with RAK ICC Offshore Company Setup
- AED 10,000–15,000 depending on the business structure and services required
- AED 6,000–8,000 to maintain the offshore company
- AED 5,000–8,000 annually for registered agent services
- Notarization and attestation fees: AED 2,000–3,000
- Virtual office or mailing address (if required): AED 2,500–4,000
- Bank account opening assistance: AED 3,000–5,000
Clear and competitive fee structures with no hidden costs.