RAK International Corporate Centre (RAK ICC)
RAK International Corporate Centre (RAK ICC) is the corporate registry for UAE offshore International Business Companies (IBCs), used for holding, asset protection, investment and structuring rather than local trading. It is a non-resident, no-office structure with a strong registry framework. AOPA member firms advise RAK ICC companies on accounting, substance and UAE Corporate Tax.
Overview
RAK ICC was created in 2016 through regulations that consolidated Ras Al Khaimah's earlier offshore registries (RAK International Companies and RAK Offshore) into a single International Business Company registrar. It is a well-regarded offshore jurisdiction offering flexible, cost-efficient corporate structures for international purposes, distinct from onshore free zones because RAK ICC companies do not conduct business within the UAE.
Who it suits
RAK ICC is designed for investors needing holding companies, asset-protection vehicles, joint-venture and special-purpose entities, intellectual-property holding and estate or succession planning. It is not intended for companies that want to trade in the UAE market or obtain UAE residence visas, and typically works alongside an onshore or free-zone operating company.
Structures and activities
RAK ICC registers International Business Companies including limited companies, restricted-purpose companies, segregated-portfolio companies and foundations. These can own shares, real estate (in approved areas), intellectual property and other assets, and can hold bank accounts, but cannot carry on business within the UAE or lease local premises. A registered agent is required to incorporate and maintain the company.
Setting up
Steps: (1) appoint a licensed RAK ICC registered agent; (2) choose the company type and name; (3) prepare the memorandum and articles and provide KYC and due-diligence documents; (4) submit the application through the registered agent; (5) receive the certificate of incorporation, often within a few days; (6) arrange banking and any nominee or structuring requirements.
Accounting and audit requirements
RAK ICC companies must keep accounting records that show and explain their transactions, even where a full audit filing is not routinely required. With the UAE Corporate Tax regime and Economic Substance rules in force, offshore holding structures need careful review to determine registration, substance and reporting obligations. AOPA member firms advise on RAK ICC record-keeping, substance and UAE Corporate Tax exposure.
Frequently asked questions
What is RAK ICC used for?
RAK ICC registers UAE offshore International Business Companies used for holding, asset protection, investment, IP ownership and estate planning, rather than trading inside the UAE.
Can a RAK ICC company trade in the UAE?
No. RAK ICC companies are offshore structures and cannot carry on business within the UAE or lease local premises. They are often paired with an onshore or free-zone operating company.
Do I need a registered agent for RAK ICC?
Yes. RAK ICC companies must be incorporated and maintained through a licensed registered agent, who handles KYC, filings and ongoing compliance.
Are RAK ICC companies affected by UAE Corporate Tax?
Offshore structures fall within the scope of the UAE Corporate Tax and Economic Substance regimes and need case-by-case assessment of registration and reporting. AOPA member firms can advise on your specific structure.