In recent years, structural changes have occurred in the Emirate of Ras Al Khaimah's corporate system, affecting the registration framework for international commercial and offshore companies.
Previously, two separate registries operated in the emirate:
- RAK IBC international business companies, registered through the RAK FTZ free zone authority;
- RAK Offshore companies, registered through the RAKIA investment authority.
Both types of companies had a similar legal nature and were used for international business purposes; however, they differed in:
- formal designation;
- constitutional documentation;
- applicable regulatory frameworks.
As part of a reform of the emirate’s corporate infrastructure, both registries were merged into a single authority – the Ras Al Khaimah International Corporate Centre (RAK ICC). At present, RAK ICC is the sole registrar of international (offshore) companies in the emirate.
Below are answers to the most frequently asked questions that continue to arise among existing and prospective owners of RAK ICC companies.
1. How did these changes affect existing companies?
For international and offshore companies previously registered in the Emirate of Ras Al Khaimah, no fundamental changes occurred.
Companies retain:
- their company name;
- registration number;
- date of incorporation;
- registered address;
- registered agent.
The only formal change is that, during the next annual renewal, shareholders confirm the application of the current RAK ICC regulatory framework. These rules are based on previously applicable regulations and aligned with modern international corporate compliance standards.
2. Where can the current RAK ICC regulations be reviewed?
The current version of the RAK ICC regulatory framework is available through registered agents and applies to all companies registered within this registry. These documents define the company's legal status, governance requirements, reporting obligations, and corporate procedures.
3. How does an RAK ICC company differ from the former RAK IBC and RAK Offshore structures?
From the perspective of key parameters, there are no fundamental differences.
RAK ICC companies:
- are not subject to corporate tax in the UAE;
- are not permitted to conduct business activities within the UAE;
- are used for international business, asset holding, and holding structures;
- have no requirement to maintain a physical office;
- do not provide eligibility for UAE residence visas.
The RAK ICC format represents a unified and standardized model of an international offshore company in the Emirate of Ras Al Khaimah.
4. Do owners of existing companies need to take any action?
In practice, no additional action is required.
All necessary documents confirming compliance with the current RAK ICC rules are provided by the registered agent as part of the standard annual renewal procedure.
5. Are there any additional costs associated with the transition to RAK ICC?
No. The application of the RAK ICC framework does not entail any additional costs for the company or its shareholders. Registration and annual renewal fees remain unchanged.
6. What happens during the annual renewal of a company?
As part of the standard annual renewal process:
- updated corporate declarations are signed;
- the standard renewal fee is paid;
- the company continues to exist in the RAK ICC registry.
If required, the company may obtain an updated Certificate of Incorporation indicating RAK ICC as the registering authority.
7. Are there mandatory deadlines for transitioning to RAK ICC rules?
The transition to the unified registry was implemented with an extended transition period. As of today, all active international companies in the Emirate of Ras Al Khaimah already operate under the RAK ICC framework.
8. Does the cost of maintaining a company change after the transition?
No. Annual maintenance costs do not change as a result of the application of RAK ICC regulations.
9. Have there been any changes to the registration procedure for new companies?
The procedure for registering a new RAK ICC company has essentially remained the same.
The main differences are:
- the use of updated registration forms;
- application of RAK ICC regulations;
- a unified standard of corporate documentation.
10. What was the purpose of consolidating the registries into RAK ICC?
The establishment of RAK ICC was aimed at:
- unifying corporate standards;
- increasing transparency and manageability of the registry;
- ensuring compliance with international corporate governance and compliance requirements;
- improving the efficiency of international companies' administration.
Today, RAK ICC is one of the most structured and transparent offshore registries in the Middle East and is widely used for international corporate structures.
