Offshore · RAK ICC
RAK ICC Foundations
RAK ICC foundations and succession in 2026: RAK ICC offers a foundation regime alongside the company — a separate legal person with no shareholders, used for succession planning and asset ring-f. Offshore formation and structuring by GoldenKey, Ajman Free Zone.
Foundations and succession
RAK ICC offers a foundation regime alongside the company — a separate legal person with no shareholders, used for succession planning and asset ring-fencing by families across the GCC, India and Europe.
A foundation removes the probate problem that otherwise applies to UAE-held assets on death.
Our desk figures
Fee reality for RAK ICC Foundations: account maintenance runs AED 75–200 a month on standard tiers, fall-below charges AED 500, and outward international transfers AED 50–100 plus FX.
Advisor’s note
“RAK ICC Foundations typically takes ten working days at a digital-first bank and four to eight weeks at a conventional one — when the file is complete.”
— GoldenKey advisory desk, Ajman Free Zone
What goes in the submission
The submission pack for rak icc foundations:
- Website, contracts, invoices or purchase orders proving the activity behind RAK ICC Foundations is real
- Trade licence, MOA/AOA, share certificate and the establishment or lease document
- For non-residents: a tax residency certificate and the reason the UAE account is needed
- A signed specimen mandate naming who can instruct the bank and with what limits
- Six months of personal statements for each UBO behind RAK ICC Foundations, plus corporate statements for any parent
Mistakes that cost real money
Predictable, and avoidable with a pre-screen:
- Leaving the website blank or 'under construction' during the review — compliance officers look.
- Not matching the expected turnover on the form to the statements; over-stating it is as bad as under-stating it.
- Letting the licence issue before the RAK ICC Foundations pre-screen; activity wording is cheap to fix before issue and expensive after.
- Applying to five banks at once for RAK ICC Foundations — each decline is visible to the next bank through the shared KYC registry.
Common questions
Can a RAK ICC company open a UAE bank account?
Selectively — with a resident UBO, a clear purpose and a complete KYC file, six to ten weeks is realistic; GoldenKey pre-screens and lines up an EMI alternative.
Does RAK ICC require an office or staff?
No. The registered agent provides the registered office; there is no visa quota and no staff requirement.
Is RAK ICC subject to UAE corporate tax?
Yes, as a UAE juridical person — registration and filing are required, though foreign-sourced dividends and gains are generally exempt.
How fast is RAK ICC incorporation?
Three to seven working days after KYC clearance, with remote signing.
Structure it in RAK ICC — priced in writing first
Our advisors sit in Ajman Free Zone and work with relationship teams at every bank on this page; ask for the current appetite note before you apply.