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Why I need RAK International Business Company (IBC)?

Asked by Alex, GB

It is equivalent of an offshore, but has more credibility due to its legal status – IBC.

In order to form a company, I need the following:

1. Company name (2-3 options)
2. Company activity
3. Your passport copy
4. Your address, phone number and e-mail
5. Personal bank reference (bank confirms that you are its clients)
6. Utility bill as proof of address
7. Short CV

All your personal information is strictly confidential and not disclosed to any third parties. There is no public record of companies or shareholders either.

Initially I need only company name and activity in order to get it approved. So please send it to me. This week is a holiday week in UAE, so I will be able to do it next week only.

The cost of RAK IBC incorporation and renewal.

The time-frame of company setup is 5-6 days (after we get all documents from you).

You can come to UAE personally to sign incorporation papers or do it from your home country. In you prefer to sign in your country, you will have to do it at Notary Public, who will attest your signature.

However, in order to open a bank account, you have to come to UAE personally. Most local government banks do not open accounts by Power of Attorney anymore. So I suggest that you come over even for 1-2 days and sign everything in one shot – company incorporation document and bank account application. After your company is formed, we will take the documents to the bank and your account will be processed.

Which option do you prefer?
Please, send me company name and activity in order to start the process.

Feel free to contact me if you have any questions.

Answered by on 04 Dec 2014

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4 Comments:


  • By Nidal / 12 Dec 2014 / Reply

    hello

    I have question what is the total cost of the creation of the RAK International Business Company (IBC)? including the bak account creation? what is the annual renewal cost
    thanks

    • By Andrew O. / 15 Dec 2014 / Reply

      As for your questions:

      1. Company formation – $2950
      2. Open bank account – $400
      3. Renewal cost – $2000

  • By Sanjay / 20 Apr 2016 / Reply

    Has the cost of company formation and renewal cost changed or it is still the same. What is this bank account opening cost of $ 400/- will it be charged if I am present personally?

    • By Andrew O. / 25 Apr 2016 / Reply

      Hey Sanjay,

      as for your question regarding the bank, please find my comments below:

      Has the cost of company formation and renewal cost changed or it is still the same. What is this bank account opening cost of $ 400/- will it be charged if I am present personally?

      The cost of company setup and renewal cost is still the same, but depends what type of company you are planning to open.
      400$ is our professional fee for support in bank account opening. It is charged when we make application for bank account with you.

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