A RAK offshore company is a legal entity registered under RAK ICC — the UAE's most popular offshore jurisdiction. It offers 100% foreign ownership, zero tax on qualifying offshore income, no minimum share capital, and remote setup in 2 to 4 working days. Riz & Mona Consultancy handles the full process from name reservation to bank account introduction.
A RAK ICC offshore company is a legal entity incorporated under Ras Al Khaimah International Corporate Centre. Designed for international business, asset holding, and structuring outside the UAE.
RAK ICC is the UAE's most widely used offshore jurisdiction. Setup takes 2 to 4 days entirely remotely. No minimum share capital, no annual audit, no office, and no UAE visa required.
UAE Corporate Tax registration is mandatory for all RAK ICC companies. If your company has no UAE-source income, offshore income generally falls outside the taxable base.
RAK ICC stands out for its speed, cost, and practical flexibility. These are the specific advantages that make it the most popular offshore jurisdiction in the UAE.
RAK ICC offers several company structures for different purposes. Choosing the right entity type at formation avoids costly restructuring later.
RAK ICC companies operate on a Certificate of Incorporation for specific international activities. Here are the most common use cases and who they suit.
RAK ICC is the right offshore jurisdiction for most international structuring purposes. But it is not the right fit for every situation. This checklist helps you decide before you apply.
If you need both offshore structure and UAE operational presence, Riz & Mona advises pairing your RAK ICC company with a RAKEZ free zone entity.
The entire RAK ICC formation process can be completed remotely in 2 to 4 working days. No UAE visit required. No office needed. Here is every step.
Submit 2 to 3 name options to RAK ICC. Names must be unique per naming rules. Approval takes a few hours.
Submit passport copies, proof of address, and the Memorandum of Association to the registered agent.
RAK ICC reviews the application. Standard formations are approved within 1 to 2 working days of submission.
RAK ICC issues the Certificate of Incorporation, MOA, share certificates, and stamp. All in English.
Register with the UAE Federal Tax Authority. Bank account opening is a separate process taking 4 to 8 weeks.
RAK ICC company formation requires minimal documentation. The bank account opening process that follows requires significantly more. Prepare both sets from the start to avoid delays later.
All formation documents are issued in English by RAK ICC. Bank account documents require notarisation in some cases. Riz & Mona prepares and reviews every document before submission to RAK ICC and before any bank approach.
RAK ICC is one of the most cost-competitive offshore jurisdictions in the UAE. Below are the three formation tiers available through Riz & Mona Consultancy.
From AED 12,500
Certificate of Incorporation, Memorandum of Association, share certificates, company stamp, registered agent for one year, and registered office address for one year.
From AED 16,000
Everything in Basic plus document attestation and legalisation support, FTA corporate tax registration, and company secretarial services for the first year.
From AED 18,000+
Everything in Standard plus bank account introduction, compliance file preparation, UBO structure advisory, and post-formation annual maintenance for year one.
Additional shareholders beyond the first may incur incremental fees at the RAK ICC registration stage.
Nominee director and shareholder services are available for enhanced privacy. These add to the annual cost and require a signed nominee agreement.
RAK ICC companies require annual renewal. Renewal costs typically range from AED 8,000 to AED 12,000 depending on registered agent fees and any structural changes.
Banking assistance fees are separate from formation costs. The complexity of your structure and chosen bank determines the exact amount.
All costs are indicative and based on standard single-shareholder formations. Exact fees depend on company structure, number of shareholders and directors, nominee requirements, and chosen bank. Riz & Mona Consultancy provides a detailed personalised quote before any engagement.
UAE Corporate Tax changed the offshore landscape in June 2023. Every RAK ICC company must understand these obligations — ignoring them creates serious risk.
UAE Corporate Tax applies to all RAK ICC companies. FTA registration is mandatory even at zero tax. Failure to register is a compliance violation regardless of your tax position.
If your RAK ICC company has no UAE-source income and no UAE permanent establishment, offshore income is generally outside the taxable base and you file a zero return.
RAK ICC does not require annual financial statements. You must maintain proper accounting records for a minimum of seven years.
ESR applies to RAK ICC companies in banking, insurance, investment fund management, lease finance, HQ, shipping, holding, IP, and distribution activities.
Three offshore jurisdictions exist in the UAE. Use this to confirm RAK ICC is right for your situation or to find where another jurisdiction serves you better.
RAK ICC | JAFZA Offshore | Ajman Offshore |
|---|---|---|
From AED 12,500 | From AED 25,000 | From AED 8,000 |
2 to 4 days | 5 to 10 days | 1 to 3 days |
Good | Excellent | Limited |
Subject to approval | Full DLD access | Not available |
Strong | Excellent | Moderate |
Not required | Required | Not required |
Holding, trading, IP | Dubai property, HNW | Budget incorporation |
Best overall value | Premium prestige | Entry level only |
Costs are indicative ranges for 2025 to 2026. All three jurisdictions require FTA corporate tax registration.
Remote setup in 2 to 4 days. No UAE visit required. Riz & Mona handles name reservation, incorporation, FTA registration, and bank account introduction from start to finish.
