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RAK - UAE COMPANY FORMATION SERVICES

Q. Which type of RAK company do I need - RAK IC or Free Zone?

Q. Do I need to visit RAK to form a RAK IC company?

Q. What paperwork do I need to open a RAK IC company?


FREQUENTLY ASKED QUESTIONS Company incorporation Bank account opening

Q. Can I open a bank account for RAK IC company in the UAE?

Q. Can I open a bank account for RAK IC remotely elsewhere?


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FORM A RAK COMPANY

What is a RAK International Company and how to form it

A brief FAQ for RAK IC’s

How quickly can a RAK IC be formed?

Incorporation of a RAK International Company is fast. It takes about 4 to 5 working days to form your company from the day all the necessary documents are received at the RAK ICC registry.







Ras Al Khaimah International Company, or RAK IC Company* is ideal for businesses wishing to be registered in the UAE but not intending to conduct any business within the Emirates

What is the RAK IC (Offshore) company suffix?

A RAK IC must have the suffix ‘Ltd’ (Limited).

What is the tax rate in RAK, UAE?

Ras Al Kaimah is a 'no tax' emirate therefore there are no personal or corporate taxes.

What are RAK companies accounts and audit requirements?

Accounts should be maintained but there is no requirement for these to be filed or audited.

What are the requirements regarding registered office, registered agent, company secretary of RAK IC company?

A RAK IC must maintain a registered office and a registered agent within Ras Al Khaimah.  A Company Secretary is also required – this can be a corporate entity or a person of any nationality.

What are the  requirements regarding the directors?

At least one director is required – it could be a corporate entity or a person of any nationality. The identity of the director is not shown on the public register.

What are the  requirements regarding shareholders?

A RAK IC Company may have one or more shareholders - corporate entities or natural persons. The shareholder and director can be the same person and/or corporate entity. Bearer shares are not allowed.    

What share capital rwquirments are there for RAK IC’s?

The standard share capital is AED 10,000 (c. US $2,722) although no minimum share capital is required. It may  be denominated in USD or AED.  

Documents required to incorporate a RAK company

In order to incorporate a RAK IC company, we  need the following documents on each director and shareholder:

Please see our detailed RAK opening requirements and FAQ regarding KYC in pdf.


Privacy & disclosure of information in RAK

There is no public disclosure of either director or shareholder information. A court order would be required to disclose any information to 3rd parties. In addition the registry does not maintain any information regarding the beneficial owner.


Our assistance with opening a corporate account in the UAE

Ancillary to our incorporation service, we offer assistance with opening a corporate account in the UAE, however, a personal visit by the director and/or signatory is required. Setting up a bank account in UAE is quite fast – it takes around 1 week although banks in the UAE do not offer debit/credit cards to their corporate customers.  Please note, that UAE banks will probably require a deposit for the account opening and to be maintained on the account.


Our assistance with opening a corporate account outside UAE

We offer a number banks outside of the UAE where a personal visit is not required. Debit/credit cards are generally available.  However, depending on the bank chosen, account opening can take  between 10 days and a month from the time the bank receives the necessary documents.

Why RAK IC company

Advantages


Disadvantages


UAE Form a RAK Company

Ras al-Khaimah (RAK, UAE) is one of the seven emirates that comprise the United Arab Emirates (UAE).

RAK (Ras Al Khaimah) is located on the eastern side of the Arabian Gulf. It is about an hours drive from Dubai and from Dubai airport. A little further away is the international airport of Abu Dhabi.

About RAK

A brief history and geography


RAK IC fees & Costs