HIGHLIGHTS
- A single shareholder and director are enough to incorporate — the same person can hold both roles.
- No minimum share capital required.
- Incorporation can be done remotely — no UAE visit required for company formation itself.
- The company can open a corporate bank account in a UAE or international bank.
- Financial records must be kept for at least five years.
- No UAE residency visa and no physical office — RAK ICC is a holding and international-trade vehicle, not a UAE operating company.
- Dubai freehold property can be held under a DLD–RAK ICC MoU, but only if shareholders are natural persons.
What Is a RAK ICC Offshore Company?
A RAK ICC offshore company is the most widely incorporated offshore structure in the UAE in 2026. It is registered in the emirate of Ras Al Khaimah under the RAK International Corporate Centre Business Companies Regulations through a licensed registered agent. The structure suits international holding, intellectual property ownership and cross-border trade. It does not permit UAE market activity, residency or employment.
How Much Does a RAK ICC Offshore Company Cost?
Two government fees: one for initial registration and one for annual renewal. These are the only fees set directly by RAK ICC — the registered agent's service fee is charged separately and varies by provider. Prices are for Year 1; 2- and 3-year packages are available, and renewal costs more than incorporation for the same term.
| Fee type | Amount (AED) |
|---|---|
| Government registration fee (one-time) | 3,250 |
| Annual renewal fee | 3,950 |
What Can a RAK ICC Offshore Company Do?
It can hold assets, own shares in other companies, hold intellectual property and conduct international trade outside the UAE, and open bank accounts with UAE and international banks through an offshore banking route. It can hold Dubai freehold property under the DLD–RAK ICC Memorandum of Understanding, provided the shareholders are natural persons; where shareholders are juristic persons (or mixed), DLD may approve registration at its discretion — approval is not automatic.
The company cannot trade within the UAE domestic market, hire employees under UAE residence visas, or maintain a physical office. RAK ICC is eligible for most business activities, but cannot provide financial services — banking, insurance, investment-related — anywhere in the world, and applies enhanced due diligence to certain higher-risk activities under its AML and sanctions policy. Confirm eligibility with your registered agent before incorporation if unsure.
How Do You Set Up a RAK ICC Offshore Company?
Incorporation runs exclusively through a licensed registered agent — direct applications to the authority are not accepted. The standard timeline is 7–10 working days.
Choose a Registered Agent & Submit KYC
The agent handles all communication with RAK ICC. You provide three proposed company names, passport copy, proof of address, contact details, share details (capital, share value, number of shares), business activity, and identity details for the General Manager, Director and Secretary.
1-3 days
Get Your Incorporation Documents
The agent submits the application to RAK ICC. Upon approval you receive a certificate of incorporation, Memorandum and Articles of Association, share register and register of members.
7-10 working days
Proceed to Banking
Additional documents such as a certificate of incumbency are available on request at extra cost. Once incorporated, you can open a corporate bank account in the UAE or internationally — plan 4–10 weeks for this step.
4-10 weeks
Can a RAK ICC Company Open a Bank Account?
A RAK ICC offshore company does not qualify for a standard resident corporate account — it has no UAE substance, office or employees. It can still open a corporate account with a UAE or international bank on offshore-entity terms: stricter due diligence and, in most cases, a minimum average balance (market sources put it at AED 200,000 and up). In our experience, the transparency of the UBO's source of funds — not the jurisdiction — decides whether an application succeeds. For the full process, see our offshore bank account in the UAE guide.
Plan for the account, not just the company. Incorporation takes about a week. The bank account behind it can take ten times longer — plan for 4 to 10 weeks, not days.
What Tax and Compliance Obligations Does a RAK ICC Company Have?
Three compliance obligations
- Corporate tax — 9% on taxable income above AED 375,000 under Federal Decree-Law No. 47 of 2022; the QFZP 0% regime does not apply (RAK ICC is not a Free Zone under the CT law). Registration and an annual return are mandatory even at zero tax — see corporate tax registration.
- UBO disclosure — a Register of Beneficial Owners and a Register of Partners/Shareholders, submitted within 60 days of incorporation; UBO changes reported within 15 days. Inconsistencies between the RAK ICC register and bank records are a common cause of account issues.
- Financial recordkeeping — no audit or regulatory filing required, but records must be kept for at least 5 years. Internal bookkeeping (P&L and balance sheet) also supports bank KYC.
When Is RAK ICC the Right Choice vs JAFZA or Ajman?
RAK ICC is the default UAE offshore jurisdiction for most holding and international-trade structures: cheaper than JAFZA, a single shareholder-director instead of two officers, and the same banking routes. JAFZA offshore is right only when there is a specific operational reason tied to Jebel Ali or a counterparty that requires a JAFZA entity by name. Ajman offshore is the lower-cost option, with a thinner agent network and, in our experience, more variable banking outcomes. The full comparison lives in our UAE offshore company guide.
For asset protection or inheritance planning rather than trading, RAK ICC also registers Foundations — a structure with no shareholders that cannot run a commercial business. It holds capital, real estate or stakes in other companies, and the founder sets the rules for how assets are used and passed on, instead of issuing shares.
Bottom Line
RAK ICC is the most practical UAE offshore structure for most holding, IP and international-trade setups: cheaper than JAFZA, single shareholder-director, no minimum capital, and access to both UAE and international banking. It is not a UAE operating company — no residency, no office, no domestic trade. Founders who need UAE residency or local operations should pick a free zone or mainland entity; for those who need offshore, RAK ICC is the default starting point.
Reviewed by
Andrey Ovchinnikov
Co-founder & CEO
Founded Emirabiz in 2013. Structures UAE companies and owns the sourced pricing dataset behind every figure on this site. Every figure he signs off traces to a named primary source with a verification date.
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Published July 6, 2026 · Updated July 6, 2026 · How this article was made →