United Arab Emirates

Company Formation in RAK ICC

RAK International Corporate Centre

Formation Time

1–2 business days

Min. Capital

No minimum required

Corporate Tax

Foreign Ownership

100%

Overview

RAK ICC (RAK International Corporate Centre) is the United Arab Emirates' premier offshore International Business Company (IBC) registry. Operating under its own modern corporate regulations based on English common law, RAK ICC provides world-class privacy, zero corporate taxation, and flexible corporate governance for international holding companies, intellectual property holding vehicles, real estate asset protection, and cross-border trade. RAK ICC companies do not require physical office space in the UAE and do not issue UAE residence visas. Crucially, RAK ICC has official memorandums of understanding with the Dubai Land Department (DLD) and Abu Dhabi Department of Economic Development, allowing RAK ICC companies to legally hold freehold real estate property in Dubai and Abu Dhabi.

1-2 day incorporation

0% corporate tax

DLD approved to own Dubai property

Redomiciliation permitted

Strict owner confidentiality

Why Choose RAK ICC

Premier UAE offshore IBC registry operating under English common law principles

0% corporate tax, 0% personal tax, and zero withholding taxes

Official DLD agreement allowing RAK ICC companies to hold freehold real estate in Dubai

Complete ownership privacy — shareholder and director names are not on public registers

Inward and outward company redomiciliation (continuation) permitted from BVI, Cayman, etc.

Fast 24 to 48-hour incorporation without requiring travel to the UAE

No mandatory annual audit submission and no paid-up share capital requirement

Cost-effective alternative to traditional Caribbean offshore jurisdictions

Business Entity Types

Entity	Ownership	Directors	Capital	Tax	Best For
IBC (International Business Company)	100%	1	None	0% — exempt from UAE Corporate Tax	Real estate holding in Dubai, international IP holding, wealth succession, joint ventures
RAK ICC Foundation	100%	Council of min 2 members	USD 100	0% — tax-exempt private wealth structure	Family wealth preservation, succession planning, legacy management, ring-fencing assets from forced heirship
Segregated Portfolio Company (SPC)	100%	1	None	0% — exempt from UAE Corporate Tax	Multi-asset holding, property portfolios, family office sub-funds, risk isolation between different investments
Dual License Structure (RAK ICC + RAKEZ Branch)	100%	1	None	0% qualifying free zone income / standard UAE CT for mainland activity	International holding combined with UAE operational physical office, UAE residency visas, and local commercial banking

Step-by-Step Formation Process

KYC & Name Reservation

1 day

Submit passport and proof of address; reserve corporate name with RAK ICC registry.

Memorandum & Articles Execution

1 day

Draft and execute tailored constitutional documents through an authorized RAK ICC registered agent.

Incorporation & Certificate Issuance

Same day

RAK ICC Registrar approves application and issues Certificate of Incorporation and registers.

Asset Registration or Dual-Licensing

1–3 days

Register company with Dubai Land Department (DLD) for property acquisition, or lodge RAKEZ operational branch setup for UAE residency visas.

Corporate Banking Setup

3–6 weeks

Establish corporate accounts with UAE offshore-friendly or international tier-1 private and commercial banks.

Costs & Fees

Government / License Fee	AED 5,000+
Our Service Fee	USD 2,500+
Annual Renewal	AED 5,000+

Fees are indicative and may vary based on business activity, entity type, and additional approvals required. Contact us for a precise custom quote.

Get Custom Quote

Banking

Because RAK ICC entities do not issue UAE visas or hold physical offices, banking requires specialized offshore underwriting. Accounts can be opened in the UAE via introduction, or internationally in Mauritius, Singapore, or Switzerland.

Account Opening Time

3–6 weeks

Multi-Currency

Yes — multiple currencies supported

Recommended Banks

Wio Bank (for qualifying structures)Mashreq BankMauritius Commercial Bank (MCB)CIM Bank Switzerland

Tax Overview

Corporate Tax

Personal Income Tax

N/A

VAT / Sales Tax

N/A — outside scope of UAE VAT

Capital Gains Tax

Withholding Tax

Double Tax Treaties

0 countries

RAK ICC companies do not benefit from UAE double tax treaties because they are offshore non-resident entities.

Frequently Asked Questions

What is an offshore company in the UAE?

An offshore company (IBC) is a legal entity registered in the UAE that conducts 100% of its commercial operations outside the UAE. It does not lease physical office space, does not issue UAE residence visas, and is primarily used for asset protection, international trading, and holding real estate.

Can a RAK ICC company buy property in Dubai?

Yes. RAK ICC is one of the few offshore registries officially recognized by the Dubai Land Department (DLD) to own freehold real estate in Dubai, making it exceptionally popular for international real estate investors.

Can I migrate an existing BVI or Cayman company to RAK ICC?

Yes. RAK ICC has robust redomiciliation (continuation) regulations, allowing international companies formed in the British Virgin Islands, Cayman Islands, or Seychelles to transfer their domicile to the UAE without liquidating assets or disrupting existing contracts.

Are shareholder names public in RAK ICC?

No. RAK ICC maintains strict confidentiality. Shareholder and director details are held by the registered agent and are not accessible on any public registry.

Does a RAK ICC company pay UAE corporate tax?

No. RAK ICC companies pay 0% corporate tax as non-resident offshore entities.

Can I open a bank account in the UAE for a RAK ICC company?

Yes, though banks conduct enhanced due diligence because the company has no physical office. Incorp International provides professional banking introduction services to secure corporate bank accounts.