Incorporate in Ras Al Khaimah (RAK) (UAE)
Set up a Ras Al Khaimah (UAE) International Company
RAK IC is the most popular offshore company in UAE.
International companies are entitled to do business internationally and may not carry out trade or business within the UAE, or any free zone. Although they are allowed to have relationships with residents providing certain professional services such as legal or consulting, and they have access to the banking system and can open corporate bank accounts in the UAE.
RAK ICs are fully exempt from all taxes and only subject to a license fee, which must be renewed annually.
As they are considered non-residents for tax purposes, they cannot benefit from UAE tax treaties. However, they are usually authorized to own shares of FZ or local companies, or even establish a branch onshore.
One of the strengths of incorporating an offshore company in UAE is that, despite being a tax-free jurisdiction, it has prestigious internationally and good press, especially Dubai.
An international company in the UAE is a powerful instrument for international trade, asset protection, and wealth management.
Learn more about incorporating in the UAE:
Ras Al Khaimah International Company (RAK IC) Formation and First-Year Fees – USD 3,800.00 (All Included)
Note that our incorporation and annual fees are all “all-included fees”, and cover all the required services, duties, disbursements, and procedures to incorporate a RAK International Company, and keep it in good standing.
- All Applicable Registration and Government Fees (RAKIC Authority)
- Preparing and filing the Memorandum & Articles of Association
- Preparing the Director’s acceptance letter
- Preparing and executing appointment of director by the Registered Agent
- Providing Certificate of Incorporation and Filed Memorandum & Articles of Association
- Preparing First Board Meeting Minutes resolving the Allotment of Shares, Appointment of Directors, Registered Office and other Corporate Matters
- preparing the Register of Directors and Register of Shareholders
- Preparing Share Certificates
- Providing Registered Office Service, including business address, for the calendar year
- Providing Registered Agent Service for the calendar year
- Preparing and executing a Certificate of Incumbency
- Preparing and Delivering Certified Copies of the Corporate Documents via Courier, inclusive of Courier fees
Time to form the company
It generally takes us one day to prepare and file the M&AA and the related corporate documentation, and 1 to 3 business days for the Registrar to issue the Certificate of Incorporation, and the stamped M&AA.
Bank Account Opening Services (Optional)
We can assist you in open bank accounts for companies in the following offshore jurisdictions:
Antigua Bank Account - USD $ 300.00Antigua Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsGlobal Bank of CommerceUSD 25,000YesUSD, EUR, GBPYesDBankUSD 10,000YesUSD, EURYesNorth International BankUSD 5,000YesUSD, EURYes
Bahamas Bank Account - USD $ 500.00Bahamas Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsDeltecUSD 1,000,000NoMulticurrencyYesEFG BankUSD 1,000,000NoMulticurrencyYesCapital Union BankUSD 1,000,000NoUSDYesHigh Turnover Individuals, Family Offices, Fund Managers and Asset Managers only
Belize Bank Account - USD $ 300.00Belize Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsCaye BankUSD 1,000YesUSD, EUR, GBP, CAD, CHF, AUD, AED, CNY, SEK, NOKYesHeritage BankUSD 3,000YesMulticurrencyYesBelize Bank InternationalUSD 4,000NoEUR, GBP, USDYes
BVI Bank Account - USD $ 900.00BVI Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsVP BankUSD 250,000NoMulticurrencyYesBank of AsiaUSD 20,000NoUSD, GBP, HKDYes
Cayman Islands Bank Account - USD $ 700.00Cayman Islands Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsCayman National BankUSD 100,000YesUSD, EUR, GBP, CAD, AUD, JPY, SEK, CHFYesNCB Cayman LimitedUSD 100,000YesUSD, EUR, CAD, GBPYes
Cook Islands Bank Account - USD $ 600.00Cook Islands Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsCapital Security BankUSD 20,000YesUSD, EUR, GBP, CAD, NZD, AUD, SGD, HKDYesClients can have a corporate account for operational purposes only if they open an investment account as well.
Curaçao Bank Account - USD $ 500.00Curaçao Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsExprinter International Bank N.V.USD 100,000YesMulticurrencyYes
Dominica Bank Account - USD $ 300.00Dominica Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsEqiBankUSD 15,000YesUSD, EUR, GBPYesKingdom BankN/ANoEUR, USDYesSWIFT transactions are carried out only through a pool account in the name of the bank.
EMI Bank Account - USD $ 300.00EMI Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsUK EMI AccountN/ANoEUR, GBPYesLT EMI AccountN/ANoMulticurrencyYesMT EMI AccountN/ANoEURYesCA EMI AccountN/ANoEURYesKZ EMI AccountDepending on category.NoMulticurrencyYesHK EMI AccountN/ANoUSD, EUR, GBP, HKDYesCurrently, the Neat account is available for businesses incorporated in Hong Kong, Australia, BVI, Cayman Islands and New Zealand only.IE EMI AccountN/ANoEUR, MulticurrencyYesSingapore EMI AccountN/AYesSGD, USDYesOnly companies incorporated in APAC jurisdictions.
Gibraltar Bank Account - USD $ 1,200.00Gibraltar Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsTuricum Private BankUSD 200,000NoUSD, EUR, GBPYesMoneycorp Bank Limitedcase-by-caseNoMulticurrencyYes
Hong Kong Bank Account - USD $ 2,000.00Hong Kong Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsDBS BankHKD 200,000YesHKD, USD, MulticurrencyYesA business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.
Isle of Man Bank Account - USD $ 1,200.00Isle of Man Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsCapital International BankN/ANoUSD, EUR, GBPYes
Labuan Bank Account - USD $ 500.00Labuan Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsBank IslamUSD 10,000NoUSD, JPY, SGD, EUR, GBPYesMayBank International Labuan BranchUSD 25,000NoUSD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AEDYesCitibankUSD 250,000NoMulticurrencyYes
Liechtenstein Bank Account - USD $ 1,200.00Liechtenstein Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsAlpinumCHF 250,000NoMulticurrencyYesCompanies conducting commercial activities (as opposed to only holding assets) must have a physical presence in the form of offices and employees in the country where it is incorporated or tax resident.Bendura BankUSD 500,000NoMulticurrencyYes
Luxembourg Bank Account - USD $ 1,200.00Luxembourg Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsEast West United BankN/AYesUSD, EUR, GBP, RUB, CHFYesCompanies conducting commercial activities are expected to conduct at least 30 incoming / outgoing transactions per month.
Mauritius Bank Account - USD $ 600.00Mauritius Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsBank OneUSD 25,000YesMulticurrencyYesCompanies must have some form of business connection to Africa in the form of clients, suppliers or investments.InvestecUSD 50,000YesMulticurrencyYes
Panama Bank Account - USD $ 1,200.00Panama Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsMMG BankUSD 10,000YesUSD, EUR, CHF, GBP, CADYesCredicorpUSD 50,000YesUSD, EURYesCapital BankUSD 20,000YesUSDYes
Puerto Rico Bank Account - USD $ 300.00Puerto Rico Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsFV BankCase by caseYesUSDYesStrategic BankUSD 100,000NoUSDYesArival BankN/ANoUSDYesCB International Bank LLCN/ANoMulticurrencyYes
Saint Lucia Bank Account - USD $ 300.00Saint Lucia Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsPROVEN BANK (Former BOSLIL)USD 5,000YesUSD, EUR, GBP, HKDYes
Seychelles Bank Account - USD $ 500.00Seychelles Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsAl SalamUSD 25,000YesUSDYes
Singapore Bank Account - USD $ 900.00Singapore Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsOCBC BankUSD 30,000YesUSD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHFYesNexus in the form of client/supplier/partner/contractor in Singapore required.RHBSGD/USD 30,000NoMulticurrencyYesNexus in the form of client/supplier/partner/contractor in Singapore required.DBS BankSGD 250,000YesMulticurrencyYesNexus in the form of client/supplier/partner/contractor in Singapore required.UOB BankSGD 350,000YesMulticurrencyYesNexus in the form of client/supplier/partner/contractor in Singapore required.Credit SuisseUSD 3,000,000NoUSD, SGDYesBank of ChinaSGD 100,000NoUSD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CADYesNexus in the form of client/supplier/partner/contractor in Singapore required.
Switzerland Bank Account - USD $ 1,200.00Switzerland Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsmbaerCHF 5,000NoMulticurrencyYesCompanies must have an expected turnover of at least CHF 3,000,000SygnumCHF 3,000,000NoMulticurrencyYesDeposit must be maintained in crypto assets held through the bank's custody services.Credit SuisseCHF 1,000,000YesMulticurrencyYes
USA Bank Account - USD $ 1,400.00USA Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsUSA Bank AccountN/A (USD 250,000 preferred)NoUSDYesUSA Bank AccountTypically USD 25,000 - USD 50,000, for high right 500,000YesUSDYesAt least one US based signatory is required. Purpose to open an account in US is required.
Vanuatu Bank Account - USD $ 500.00Vanuatu Bank AccountBankMin DepositCardsCurrenciesRemoteCommentsPacific Private BankUSD 1,500NoEUR, GBP, USDYesOutgoing USD transactions cannot be facilitated.
Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.
Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
RAK Company Annual Fees (payable one year after incorporation, and annually thereafter) – USD 3,450.00
- All Applicable Annual Government Fees
- Advising on completion of and filing the Economic Substance Return
- Maintaining the Minute Book, Registers and Statutory Records
- Providing Registered Agent Service for one year
- Providing Registered Office Service, including business address, for one year
Other Services (Optional)
- Formation and Maintenance of Freezone Companies (Dubai, Fujairah, RAK, Ajman, Abu Dhabi, Sharjah)
- Assistance with obtaining 3-year Business Visas for directors of Freezone companies
- Continuation of Foreign Companies
- Secretarial Services
- Accounting Services
Please, contact us for further information.