Frequently Asked Questions
What is corporate profit tax for companies registered with RAK International Corporate Centre (ICC)?
Companies incorporated under RAK Business Companies Regulations 2018 are exempt from corporate income tax, capital gains, withholding, estate, inheritance, succession tax or stamp duty.
What types of company can be incorporated with RAK ICC?
A RAK ICC company can be registered in the following types:
- Company limited by shares
- Company limited by guarantee
- Unlimited company
Company limited by shares is the most popular one among others.
What types of activities are suitable for a RAK ICC company (limited by shares)?
A RAK ICC company can adapt multiple business objectives such as follows:
- International business company facilitating global investment and trade;
- Holding company;
- SPV holding real estates or other assets;
- Joint venture;
- Wealth management and asset protection.
What is the minimum number of directors/shareholder required?
A company should, at all times have at least one director and one shareholder. Company members could be of any nationality and can be body corporate given that one natural director is available.
Is information of company members/officers open to the public?
Registers of company directors and members have to be filed with the Registrar for registration. However, particulars related to company members are not disclosed to the public.
Is there minimum registered capital for a RAK ICC company?
The share capital has no required minimum registered amount and can be expressed in any currency.
What classes of shares are allowed to be issued?
Registered or ordinary shares, shares with preferential rights related to voting, redemption or dividend, non-voting shares, par value and non-par value shares. Bearer shares are not permitted.
What are annual compliance requirements for a company incorporated in RAK?
A company has to maintain at all times at least one director, on shareholder along with a local registered agent and registered office address in RAK. There is no need for filing annual return, tax return or submitting financial accounts.