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.
A RAK IC must have the suffix ‘Ltd’ (Limited).
Ras Al Kaimah is a 'no tax' emirate therefore there are no personal or corporate taxes.
Accounts should be maintained but there is no requirement for these to be filed or audited.
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.
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.
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.
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.
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.
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.
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.
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.