1. International Business Company (IBC): - An International Business Company (IBC) is one of the most popular business structures under RAKICC. It is designed for conducting international trade and investment activities. An IBC offers a straightforward and tax-efficient vehicle for managing global business operations. It can engage in various activities including trading, consultancy, and investment.
2. Restricted International Company (RIC): - A Restricted International Company (RIC) is structured for businesses that need to adhere to specific regulations, industries, or jurisdictions. While RICs have limitations in terms of activities, they provide a specialized solution for companies with unique and specialized requirements. This structure is ideal for businesses that require specific regulatory oversight.
3. Foundation Company: - The Foundation Company is a distinctive legal structure offered by RAKICC. It combines elements of a company and a trust, providing a unique platform for asset management, succession planning, and wealth protection. Foundation Companies are often utilized by individuals or corporations to hold assets and manage wealth for specific purposes, combining the benefits of corporate and trust structures.
4. Non-Profit Organization (NPO): - RAKICC also facilitates the establishment of Non-Profit Organizations (NPOs). These entities are dedicated to charitable, humanitarian, cultural, and educational activities. NPOs play a vital role in contributing to the community and society at large. This structure provides a platform for businesses and individuals to give back to the community and make a positive social impact.
5. Corporate Nominee: - RAKICC allows for the appointment of Corporate Nominees to act as directors or shareholders on behalf of a company. This structure provides flexibility in managing the affairs of the company, especially for businesses with specific governance requirements or when an additional layer of confidentiality is desired.
   
   In conclusion, RAKICC offers a versatile range of company types, providing businesses with the freedom to choose a structure that best suits their operational requirements and strategic objectives. This flexibility is a testament to the UAE's commitment to creating a conducive environment for businesses to thrive and innovate. With RAKICC, entrepreneurs and investors have a comprehensive array of options to establish a robust and successful business presence in the UAE.

WHY RAKICC?

The benefits of incorporating your company in RAK ICC are numerous. Like other free zones in the United Arab Emirates, you will have unrestricted foreign ownership, easy access to US dollars without paying taxes, and no limits on returning capital to your home country. Financial reports are not required to be filed, nor is there a minimum capital requirement. Your company won't be restricted on how many shareholders it may have and there is no need to lease an actual office. The corporate documents can be processed through your registered agent in as little as one day, and no legal attestation is needed. Your registered agent handles the whole procedure on your behalf. You may take use of two additional features in addition to the basic benefits that come with the establishment of the five standard IBC types, the Premium Product and Intellectual Property Holding Company. First, you can move your company domicile from another offshore jurisdiction to RAK ICC by using this service. Most free zones in the United Arab Emirates do not give you this authority, and the standard procedure for modifying a free zone is to liquidate the existing entity within the zone you want to leave and establish a new one from the ground up in the new free zone. In most circumstances, business license transfers are prohibited in the United Arab Emirates; however, RAK ICC permits to move the company directly from the other jurisdiction to theirs.

TYPE OF RAK ICC COMPANIES

There are three principal types of RAK ICC companies, as mentioned below:

1. Company limited by Shares (CLS) – CLS means that the liability of the shareholders to creditors of the company is limited to the capital originally invested i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. Possible uses of CLS are given below:
   • International business company – to facilitate worldwide investments and global trade.
   • Holding company - to hold shares in subsidiary companies.
   • Special purpose vehicle – to hold real estate or other assets.
   • Joint venture company - Rights of the shareholders in the joint venture company may be set out in the Memorandum and Articles and/or in a separate shareholders’ agreement.
   • Project company - to own and operate specific project while reducing the exposure of shareholders to liability.
   • Family office – to facilitate wealth management and asset protection.
   • Segregated portfolio Company - Use of segregated portfolios for different assets can insulate each asset from liability and permit the separation of ownership from management and control.
2. Company limited by Guarantee (CLG) - A CLG's fundamental characteristic is the guaranteed members' pledge to donate a certain sum to the CLG in the case of its insolvency. CLG has several applications. One well-known instance is to function as an incorporated organization or to provide apartment owners certain membership privileges in the business that oversees their real estate development.
3. Unlimited Company (UC) - An unlimited company may be incorporated with or without share capital, and its members' liability is unrestricted. In other words, they are obligated jointly, severally, and indefinitely to use the company's assets to satisfy any shortfall, allowing for the settlement of any unpaid debts in the event of the formal liquidation of the business. An UC can be useful for international tax planning as well as avoiding the requirement for shareholder guarantees to sustain the UC's credit.
4. A Restricted Purposes Company (RPS) – A restricted purpose company (RPS) is a company limited by shares whose memorandum states that the company is a restricted company for a specific purpose and the purpose or purposes for which the company is incorporated. It is a corporate entity created specifically to serve as a special purpose vehicle.
5. Segregated Portfolio Company - A Segregated Portfolio Company (SPC) is a company limited by shares. To keep business assets and liabilities kept inside or on behalf of a segregated portfolio separate from other company assets and liabilities, the SPC may establish up to 10 segregated portfolios. A protected cell business is another name for a Segregated Portfolio business, or SPC. The assets of the Segregated Portfolio include capital reserves, share premiums, retained earnings, share capital, and any other assets owned or attributable to the Segregated Portfolio.

BENEFITS OF RAK ICC

• 100% Foreign Ownership: RAK ICC allows full foreign ownership, making it an attractive choice for international investors.
• Efficient Incorporation Process: The incorporation process typically takes just one day, ensuring a swift setup for businesses.
• No Restrictions on Shareholders: RAK ICC imposes no restrictions on the number of shareholders, allowing flexibility in ownership structures.
• Corporate Director Permitted: Businesses can appoint a corporate director, streamlining management.
• No Office Requirement: Unlike some jurisdictions, RAK ICC does not mandate a physical office presence.
• Cost-Efficient Fees: Registration and renewal fees are cost-effective, making it an economical choice for entrepreneurs.
• No Financial Accounts Filing: There is no requirement to file financial accounts, simplifying administrative obligations.
• Common Law Regulations: RAK ICC operates under common law regulations, with access to DIFC (Dubai International Financial Centre) and ADGM (Abu Dhabi Global Market) courts.

How to Register an Offshore Company with RAK ICC?

The process of RAK offshore company registration is straightforward and can be completed in a few steps. They are:

• Appoint a registered agent to provide the address.
• The registered agent will prepare the documents. The registered agent will submit the application on your behalf.
• Once registered successfully, you will receive the RAK ICC certificate of incorporation, MOA, and Registers of Members

• Company Limited by Guarantee (CLG): A CLG's fundamental characteristic is the guaranteed members' pledge to donate a certain sum to the CLG in the case of its insolvency. CLG has several applications. One well-known instance is to function as an incorporated organization or to provide apartment owners certain membership privileges in the business that oversees their real estate development.
  • Possible Uses:
    • Non-profit organizations, charities, and industry associations.
    • Entities focused on social impact or community development.
  • Services:
    • Protecting investments in foreign countries.
    • Facilitating cross-border collaborations.
    • Ensuring compliance with non-profit regulations.

• Unlimited Company (UC): An unlimited company may be incorporated with or without share capital, and its members' liability is unrestricted. In other words, they are obligated jointly, severally, and indefinitely to use the company's assets to satisfy any shortfall, allowing for the settlement of any unpaid debts in the event of the formal liquidation of the business.
  • Possible Uses:
    • Niche businesses with specific risk-sharing requirements.
    • Holding companies for asset protection.
  • Services:
    • Asset management and protection.
    • Estate planning and wealth preservation.

• Restricted Purposes Company (RPC): A restricted purpose company (RPS) is a company limited by shares whose memorandum states that the company is a restricted company for a specific purpose and the purpose or purposes for which the company is incorporated. It is a corporate entity created specifically to serve as a special purpose vehicle.
  • Possible Uses:
    • Holding intellectual property rights.
    • Structuring joint ventures or project financing. 
  • Services:
    • Intellectual property holding and licensing.
    • Efficient management of specific transactions.

• Segregated Portfolio Company (SPC): A Segregated Portfolio Company (SPC) is a company limited by shares. To keep business assets and liabilities kept inside or on behalf of a segregated portfolio separate from other company assets and liabilities, the SPC may establish up to 10 segregated portfolios. A protected cell business is another name for a Segregated Portfolio business, or SPC.
  • Possible Uses:
    • Investment funds, hedge funds, and risk management.
    • Structuring diverse investment portfolios.
  • Services:
    • Asset segregation and risk isolation.
    • Efficient management of multiple investment strategies.

• Private Client Solutions: Tailored solutions for high-net-worth individuals and families.
  • Possible Uses:
    • Wealth management and succession planning.
    • Family offices and estate administration.
  • Services:
    • Setting up family offices.
    • Wealth preservation and intergenerational wealth transfer.

• RAK ICC Foundation: A legal entity with a separate legal personality.
  • Possible Uses:
    • Charitable purposes, philanthropy, and wealth management.
    • Asset protection and succession planning.
  • Services:
    • Establishing charitable foundations.
    • Managing charitable activities and donations.

In summary, RAK ICC provides a diverse range of entity options, each tailored to specific business needs.