Sectors
Advantages
- UAE’s cheapest offshore company structure — formation from ~USD 817 government fee
- No physical presence, office, or residence required
- Can hold assets, intellectual property, and shares in other companies
- No UAE corporate tax obligation (confirm with tax advisor)
- Useful for international holding structures, wealth planning, and IP holding
Trade-offs
- Offshore company — cannot trade within UAE mainland or provide UAE-based services
- No UAE residence visas issued — not suitable for those seeking UAE residency
- Opening a UAE bank account for an offshore company is very difficult
Setting up
Extremely simple — no physical presence required. Registered agent handles everything remotely. 3–5 business days.
Opening a bank account
UAE banks are extremely reluctant to open accounts for offshore companies due to AML regulations. International banks in other jurisdictions are typically needed.
Questions
How much does it cost to set up a company in RAK ICC?
Govt incorporation fee ~USD 817; annual licence ~USD 885. All-in with registered agent ~USD 3,150–3,950. UAE’s cheapest offshore vehicle.
What business sectors are supported by RAK ICC?
RAK International Corporate Centre supports: Consulting, Finance, Legal, Trading.
Is it easy to open a bank account with a RAK ICC licence?
UAE banks are extremely reluctant to open accounts for offshore companies due to AML regulations. International banks in other jurisdictions are typically needed.
Does RAK ICC require a physical office?
No, a physical office is not mandatory. No physical office required. Registered agent address used. Cannot support visa applications.
How many visas can I get through RAK ICC?
Visa quota: Not applicable — offshore company; no UAE residency visas.