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Rak Offshore

What is RAKICC & its role in an RAK offshore company formation?

RAK International Corporate Centre (also known as ‘RAKICC’ or ‘RAK ICC’) is a Government corporate registry in the Emirate of Ras Al Khaimah, United Arab Emirates. RAKICC carries out the registration and formation of international business companies/offshore companies and provides a full range of registration services in connection with the international business/offshore company activity.

RAKICC was created through Decree No. 12 of 2015 (amended by Decree No. 4 of 2016) which consolidated two (2) company registries known as RAK International Companies (previously part of RAK Free Trade Zone) and RAK Offshore (previously part of RAK Investment Authority).

RAKICC is known as a modern, world class offshore company registration office and complies with international best practices. RAKICC has developed a strong reputation and is considered to be one of the most respected brands for setting up offshore companies in the United Arab Emirates.

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What are the benefits of an RAK offshore company?

The offshore companies set up with RAKICC enjoy the following benefits:

  1. You can open a bank account in the name of the RAK offshore company.
  2. You can own real properties in Ras Al Khaimah and Dubai through a RAK offshore company.
  3. RAK offshore company allows 100% foreign ownership.
  4. RAK offshore company can own shares in a mainland company or a free zone company in the United Arab Emirates.
  5. RAK offshore company offers Zero taxes.
  6. You can establish subsidiary with RAK Economic Zone.
  7. RAKICC offers state of the art legislation which is a cornerstone for any reliable offshore company set up jurisdiction.
  8. RAKICC has robust compliance procedures.

What is RAK offshore or RAK IBC?

RAK offshore or RAK IBC is usually used as synonym for an offshore company registered with RAKICC in the Emirate of Ras Al Khaimah. Before the consolidation of the corporate registry in 2016, RAK offshore existed as an independent as part of RAK Investment Authority.

What is the legislative framework for RAKICC?

The legislative framework for RAKICC includes (i) the RAKICC Business Companies Regulations 2016; and (ii) RAKICC Registered Agent Regulations 2016.