RAK ICC Business Setup: Without the travel

RAK International Corporate Centre or (RAKICC) is a Corporate Registry based in Ras Al Khaimah. Registering and incorporating International Business Companies (IBC), it also provides a full range of services for all IBC-related activities.

Adhering to the highest international standards, RAKICC offers a variety of solutions to IBCs around wealth management and asset protection. It enables IBCs to hold shares, assets in local or internationally registered companies, as well as owning properties and opening bank accounts.

If you’re currently concerned about travelling, there is another benefit as well. You no longer have to leave your office. At WWFL we offer the service of travelling to you to complete your RAK ICC setup.

Facilitating this much easier setup process by minimising unnecessary travel, we’re able to work through the process with you remotely, and when an in-person meeting is required, we will come to you.

Redomicile companies from blacklisted jurisdictions to RAK ICC

There has never been a better time to move to RAK ICC. Due to Economic Substance Requirements, it makes sense to redomicile companies from blacklisted jurisdictions to RAK ICC. These re- domiciliation fees are set at US $3,250 for a limited period of time. There are discounts available for bulk re-domiciliation.

You can set up a number of different types of company in RAK ICC

Some of these options include:

  • Company Limited by Shares
  • Company Limited by Guarantee
  • Special Purpose Vehicle
  • Segregated Portfolio Company
  • Unlimited Company
  • Transfer of Domicile

Reasons to redomicile your company

There are several key developments here to consider, including:

  • Traditional offshore jurisdictions are under pressure (competition, regulatory issues, and Substance)
  • Finding a viable alternative to jurisdictions traditionally labelled as ‘offshore centres’ facing extreme scrutiny internationally
  • Companies are increasingly concerned with the reputational risks associated with their choice of jurisdiction
  • Urgent need to meet ESR

Major advantages of redomiciliation

Aside from addressing changes in the business landscape, redomiciliation also offers a number of notable benefits:

  • Companies can maintain existing legal status
  • Companies can preserve operational and banking history
  • Access to common law courts
  • Wills registration to protect the assets and shares in the name of the company

We have been offering company formation services for over 15 years and we are a trusted advisor to over 2,000 clients from more than 100 countries. We look forward to talking to you about your requirements.

Please contact us at ic@wwfl-uae.com for further details.

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