If you are exploring international business structures or asset-holding options in the UAE, you may have come across the term RAK ICC company. For first-time readers, this can sound complex or confusing.
This guide, What Is a RAK ICC Company? Benefits, Structure, and Uses, is written to clearly explain what a RAK ICC company is, why it exists, and when it makes sense to use one. No legal jargon – just clear, practical information to help you make an informed decision.
What is a RAK ICC Company?
A RAK ICC company is a type of international (offshore) company registered in the United Arab Emirates under the Ras Al Khaimah International Corporate Centre.
These companies are designed for:
- Business conducted outside the UAE
- Holding assets such as property, shares, or investments
- International structuring and ownership purposes
RAK ICC Full Form and Authority
- RAK ICC stands for Ras Al Khaimah International Corporate Centre
- It is a UAE government-backed corporate registry
- Based in the Emirate of Ras Al Khaimah
- Internationally recognised and compliant with global standards
Is RAK ICC an Offshore Company?
Yes. A RAK ICC company is commonly known as an offshore company, which means:
- It does not operate locally in the UAE
- It does not require a physical office
- It is used mainly for international or holding purposes
Why RAK ICC Companies Exist?
RAK ICC companies exist to provide:
- A simple UAE-based legal structure
- Low-cost company ownership
- A secure way to hold assets or investments
- A flexible vehicle for global business activities
Key Benefits of a RAK ICC Company
Cost and Simplicity
One of the biggest advantages is low cost:
- No office rent
- No visa costs
- Low setup and renewal fees
- Minimal ongoing compliance
Ownership and Control
- 100% foreign ownership
- No local partner required
- One person can be shareholder and director
- Any nationality allowed
Privacy and Asset Protection
RAK ICC offers:
- High levels of confidentiality
- No public disclosure of shareholders
- Strong legal framework for asset holding
RAK ICC Company Structure Explained
Understanding the structure helps build confidence.
Shareholders and Directors
- Minimum 1 shareholder
- Minimum 1 director
- Same person can hold both roles
- Corporate shareholders are allowed in many cases
Office, Visa, and Physical Presence
A RAK ICC company:
- Does not need an office
- Does not issue UAE residence visas
- Does not require the owner to live in the UAE
Banking and Financial Access
A RAK ICC company can:
- Open UAE bank accounts (subject to approval)
- Open international bank accounts
- Work with fintech and payment providers
Common Uses of RAK ICC Companies
Asset Holding and Investments
RAK ICC companies are widely used for:
- Holding UAE or overseas property
- Owning shares in other companies
- Managing long-term investments
- Family wealth structuring
International Business and Trading
They are suitable for:
- International trading
- Overseas consulting
- Contracting with foreign clients
- Import-export outside the UAE
IP Holding and Group Structuring
Advanced uses include:
- Holding intellectual property
- Licensing brands or trademarks
- Group company ownership
- Succession and estate planning
Who Should Consider a RAK ICC Company?
A RAK ICC company may suit you if:
- You do business outside the UAE
- You want a holding or investment structure
- You do not need UAE visas
- You prefer low-cost maintenance
- You want a UAE-based legal entity without local operations
Who Should Not Choose RAK ICC?
RAK ICC may not be suitable if:
- You want to trade inside the UAE
- You need residence visas
- You need a physical office
- You run a local operational business
FAQs About RAK ICC Companies
1. Is a RAK ICC company legal in the UAE?
Yes. It is fully regulated and government-backed.
2. Can a RAK ICC company operate in Dubai?
No. It cannot conduct business inside the UAE.
3. Can I open a bank account with a RAK ICC company?
Yes, subject to bank compliance and approval.
4. Do I need to visit the UAE to set it up?
Usually no. The process can often be completed remotely.
5. Is RAK ICC tax-free?
The UAE does not levy corporate tax on RAK ICC companies, but foreign tax laws may apply.
6. Is annual renewal required?
Yes, RAK ICC companies must be renewed every year.
Conclusion
RAK ICC is a flexible, cost-effective, and internationally accepted UAE offshore structure designed for asset holding, global business, and long-term planning.
For the right purpose, it offers clarity, control, and confidence.