Ras Al Khaimah offshore company formation with RAK ICC

What is a RAK ICC international business company?

A RAK ICC international business company is a company registered and incorporated by RAK International Corporate Centre, a corporate registry in Ras Al Khaimah. International business company, or IBC, is the term RAK ICC uses.

RAK ICC was formed under Decree No. 12 of 2015, as amended by Decree No. 4 of 2016. It consolidated two older registries: RAK International Companies, formerly part of RAK Free Trade Zone, and RAK Offshore, formerly part of RAK Investment Authority.

The types of company RAK ICC offers are a company limited by shares, a company limited by guarantee, an unlimited company, a restricted purpose company and a segregated portfolio company.

Good to knowRAK ICC's rules on this page were read from its Business Companies Regulations 2018, its Registered Agent Regulations 2018, its Fee Schedule 2026 and its published guides. RAK ICC's web pages could not be opened when this page was checked, so later amendments cannot be ruled out. We confirm the current rules with RAK ICC before you apply.

What are the requirements for a RAK ICC company?

Under RAK ICC's Business Companies Regulations 2018, a company must at all times have one or more members, at least one director and a registered agent.

Only a person holding a valid Certificate of Agent Registration may act as registered agent, under RAK ICC's Registered Agent Regulations 2018.

What can a RAK ICC company do, and what can it not do?

Under RAK ICC's Business Companies Regulations 2018, a company may not carry on business with persons in the zone unless RAK ICC expressly authorises it. A company is not treated as carrying on business in the zone only because it does one of the things listed in Regulation 40(6).

Regulation 40(6) lists things that do not count as carrying on business in the zone. Regulations 40(5) and 40(8) set the limits.

• Using local lawyers and accountants does not count as carrying on business in the zone.
• Keeping its books in the zone and holding meetings there does not count.
• Maintaining a bank account in the zone for routine operational transactions does not count.
• Holding assets in areas designated by RAK ICC does not count.
• Owning interests in a body corporate that does business in the zone does not count.
• May not carry on business with persons in the zone unless expressly authorised by RAK ICC.
• May not provide financial services by way of business anywhere in the world.
• May not conduct activities in the UAE outside the zone without first obtaining all appropriate licenses from the competent UAE authorities.

Can a RAK ICC company own property in Ras Al Khaimah or Dubai?

RAK ICC states that its companies can own real properties and assets. For Ras Al Khaimah, RAK ICC signed a memorandum of understanding with Ras Al Khaimah Municipality on 6 April 2021 so that investors can purchase and register property in the emirate under a RAK ICC entity.

For Dubai, a RAK ICC press release states that the Dubai Land Department signed a memorandum of understanding under which it accepts registration of Dubai freehold property for RAK ICC companies whose shareholders are natural persons, subject to documents, fees and a No Objection Letter. The department may also approve cases where shareholders are companies.

RAK ICC's 2026 fee for a No Objection Certificate is AED 1,250 per property.

Good to knowThe Dubai press release is undated and no current Dubai Land Department page confirms that the arrangement still applies. The department decides each registration, so we confirm the position before you commit to a Dubai purchase.

How much does RAK ICC charge in 2026?

RAK ICC charges AED 3,250 to incorporate an IBC for one year and AED 3,950 to renew it for one year, under its Fee Schedule effective 1 January 2026. It also publishes fees for two and three year terms.

Extra fees apply to larger or layered structures, and a differential of AED 7,000 is added for high risk cases that need enhanced due diligence.

Late renewal has a one month grace period. After that RAK ICC adds 10% to the renewal fee in month two, 15% in month three, 25% in month four and 50% in month five. A strike off notice is issued at the start of month six, and restoration costs a flat AED 550.

The RAK ICC documents read for this page give no standard processing time for a new incorporation. Its urgent same day service does not apply to new incorporations or renewals.

Good to knowThese are RAK ICC's fees only, and the registered agent's fee is separate. RAK ICC states that fees can change without prior notice and that payment alone does not mean approval.

Does a RAK ICC company need an audit or a company secretary?

RAK ICC states that there is no requirement to file financial accounts, and its Business Companies Regulations 2018 do not mention a company secretary.

The company still has duties each year. Under RAK ICC's Business Companies Regulations 2018, it must deliver an annual return within 30 days of each anniversary of incorporation, with the annual fee. It must keep records that show and explain its transactions for at least five years.

Records may be kept at the registered agent's office or elsewhere. If they are kept elsewhere, the agent must be given the address and an undertaking of access. The registered agent must also keep a register of the ultimate beneficial owners of each company it acts for.

Good to knowThe UAE Corporate Tax Law requires a taxable person to keep records for 7 years, which is longer than RAK ICC's five. Whether a bank or a tax filing calls for audited accounts depends on your case.

Does a RAK ICC company pay corporate tax or give you a residence visa?

The UAE Corporate Tax Law applies to a RAK ICC company, and an offshore company does not normally lead to a residence visa.

A company incorporated under UAE legislation is a Resident Person under Article 11 of Federal Decree-Law No. 47 of 2022, and it must register with the Federal Tax Authority. Corporate tax is 0% on taxable income up to AED 375,000 and 9% above that. No Ministry of Finance or Federal Tax Authority document treats offshore companies as exempt, and none names them specifically, so take advice on your own case.

Economic substance reporting was cancelled for financial years ending after 31 December 2022 by Cabinet Decision No. 98 of 2024. Pages that still list it as a yearly duty are out of date.

None of the RAK ICC documents read for this page says that an IBC can apply for residence visas. RAK ICC offers a separate product, which it calls the Global Product: a free zone company registered through RAK ICC agents, with office facilities and eligibility to apply for a UAE residence visa. It is a different product from the IBC.

Good to knowA RAK ICC company does not by itself end your tax obligations at home. US citizens and resident aliens are taxed on worldwide income, UK residence is decided by the Statutory Residence Test, and in the EU national law and tax treaties decide. Take advice from a qualified adviser in your home country before you set one up.