RAS AL KHAIMAH ECONOMIC ZONE (RAKEZ)

Ras Al Khaimah, one of seven emirates comprising the United Arab Emirates, became a member of the Federation in 1972. In 2006, Ras Al Khaimah enacted the Ras Al Khaimah International Company Law, which is based on the model of the successful international company regime of the British Virgin Islands. The law was most recently updated in 2016 to keep pace with international developments.

RAK International Corporate Centre (RAKICC) is the sole entity in Ras Al Khaimah for the incorporation and formation of International Business Companies (offshore companies). RAKICC was formed from the consolidation of the registries of RAK International Companies (formerly a part of the RAK Free Trade Zone) and RAK Offshore (formerly a part of the RAK Investment Authority). During this process, Ras Al Khaimah’s existing company law was updated to keep pace with developing international standards and the new Ras Al Khaimah International Corporate Centre Business Companies Regulations 2016 were enacted on the 20th of January 2016.

ADVANTAGES OF RAKICC:

TYPES OF COMPANIES

PERMISSIBLE ACTIVITIES

BENEFITS OF RAK ICC

The RAKICC offshore company is set up without the necessity to have the physical office on the territory of the UAE and can only conduct business outside of the country. Whereby such an organization can have the bank account in Dubai bank or any other Emirate. Among other advantages there is no requirement to provide annual financial statements to the authorities on companies of this type, and it is very easy to maintain the company – all you need to do is annually renew the company.

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