Transfer Offshore Company Domicile to RAKICC Today

Migrate your company from any jurisdiction to RAK ICC in 3 simple steps.

  • Keep your company name.
  • Keep legal and banking history.
  • Continue as a going concern.
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3 Simple Steps

We offer change of domicile to RAK ICC as its registered agents in the following 3 simple steps:

Step 1
Step 1

Fill in our simple online form and start migration process.

Step 2
Step 2

We collect documents and complete the process.

Step 3
Step 3

We deliver new company documents to you.

Bank Accounts

We work closely with the following banks for opening bank accounts for our clients.

Emirates NBD Mashreq Bank RAK Bank Emirates Islamic Dubai Islamic Bank Noor Bank

Pricing

These discounted packages for change of domicile are offered for a limited time.

Silver
AED 8,999AED 4,999Save AED 4,000
  • Government fee covered
  • Certificate of continuation
  • MOA and AOA
  • Premium address in Dubai, Business Bay
  • Resolution to appoint director(s)
  • Dedicated agent for 1 year, until the next annual payment

*Yearly Fee from second year: AED 4,999 (all inclusive)

Platinum
AED 12,999AED 6,999Save AED 6,000

Platinum includes everything in Gold, plus:

  • Company stamp
  • Company letterhead
  • Assigned premier service agent throughout the year who will respond to you with priority

*Yearly Fee from second year: AED 4,999 (all inclusive)

The bank account opening is dependent on the personal profile of client and offshore company. There may be circumstances out of our control and the decision for bank account opening rests solely with the banks, which we would not be in a position to challenge.

Process

Here is the process for changing the domicile of offshore company to RAK ICC and bank account opening.

1

Step 1 – We prepare your company documents

We will check the availability of your company name and prepare the required documents. We will also collect the relevant documents required by RAK ICC for the change of domicile.

2

Step 2 – You sign company documents

For UAE residents: You will need to visit our offices in Business Bay, Dubai, United Arab Emirates, to sign your company documents.

For non-UAE residents: We will prepare a specimen signature form which you will need to sign before a notary public in the country of your residence and return in original to us. All other company documents will need to be printed and signed by you at your office/home and returned to us in originals.

3

Step 3 – We change the domicile of your company

Regular requests: We will submit your company documents to RAK ICC for change of domicile for your company. The prescribed timeframe for the registration of RAK Offshore company is approximately five (5) working days.

Urgent requests: If you require urgent service, your company can be formed in one (1) working day with an additional fee of AED 1,700.

Your RAK Offshore Company Bank Account

If you wish us to open a corporate account for your company, we would be happy to provide you professional assistance for bank account opening with one (1) of the banks on our panel. We will provide all coordination and facilitation required for the bank account opening. The process of bank account opening may take between 5-15 working days or more depending on a case by case basis.

Checklist of Documents Required

PART A: LIST OF CONTINUATION DOCUMENTS REQUIRED

  1. Registered agent consent letter.
  2. Certified copy of certificate of incorporation or equivalent document.
  3. Certificate of good standing (current dated and required in original).
  4. The MOA and AOA as they would take effect on continuation in RAKC ICC.
  5. Evidence that laws of relevant jurisdiction allow continuation of company into RAK ICC. This usually comprises written confirmation from registrar that the applicant may continue into RAK ICC.
  6. Certificate of the Registered Agent or Directors of company that the application to continue and the proposed memorandum and articles have been approved by (a) a majority of the directors, shareholders or other persons who are charged with exercising the powers of the applicant and (b) the holders of any charges over the asset or shares of company.
  7. Certificate of the Registered Agent or Directors of company that the applicant is not disqualified from continuing into RAK ICC. These deal with the solvency of the applicant.
  8. Certificate of incumbency in respect of company or a certificate signed by a director attaching a certified copy of the current register of members and directors, including all such information as would be required to be kept by Registrar. This is required to be current dated and required in original.
  9. KYC information required for directors, shareholders.

PART B: KYC REQUIREMENTS (PROVIDE WHERE REQUIRED BY PART A ABOVE)

For Individual Shareholders and Ultimate Beneficial Owners

  1. Certified copy of in force passport
  2. Certified copy of current utility bill or local authority tax bill or tenancy agreement or residency certificate showing address of current permanent residence or bank statement

For Corporate Shareholders

  1. Certified copy of certificate of incorporation or registration and any trade license or equivalent.
  2. Certified copy of AOA and MOA.
  3. Current certificate of incumbency or register extracts.
  4. Current certificate of good standing.
  5. Certified copy of passport of the authorized signatory of the corporate shareholder.
  6. Name of shareholders and ultimate beneficial owners.
  7. Certified copy of corporate resolution approving the continuation of the company.

For Trusts as Shareholders

  1. Trust deed.
  2. Current certified register extract for the Trust.
  3. Details of all additions to the Trust (if any).
  4. Certified copies of passports of settlor, protector & beneficiaries.
  5. Corporate Trustee – as for corporate shareholders above.
  6. Individual Trustee – as for individual shareholders above.

For Foundations as Shareholders

  1. Certified copy of certificate of incorporation or registration and any trade license or equivalent.
  2. Foundation regulations and charter.
  3. Foundation minutes approving the incorporation of the RAK ICC company.
  4. Current certificate of good standing.
  5. For foundation council members and protectors who are natural persons – see For Individual shareholders above.

For Individual Directors /Secretaries

  1. As for individual shareholder above.
  2. Consent letter from the directors/secretaries.

For Corporate Directors /Secretaries

  1. See 1-6 of corporate shareholder above.
  2. Resolution of corporate directors/secretaries accepting the appointment as directors/secretaries of the company template.

NOTES:

  1. If the continued MOA and AOA of company are signed partly or wholly outside the, the signatures must be notarized.
  2. If the continued MOA and AOA are signed wholly within the UAE, provide an undertaking letter from the registered agent.
  3. In case the documents are signed under a power of attorney, then provide a passport copy of the person signing under the POA along with valid copy of the POA.
  4. Documents in foreign languages must be accompanied by duly certified English or Arabic translations.
  5. Documents which must be current should be dated within 3 months from the date of the application.
  6. All documents must be duly signed and stamped by registered agent; copies must be certified by the registered agent or a notary.
  7. The Registrar reserves the right to call for additional documents.
  8. In addition to providing the documents above, it is the responsibility of Registered Agents to comply with regulation 26 of the RAK ICC Registered Agent Regulations 2018 and applicable UAE law (including as regards the prevention of money laundering and terrorist finance).

Key Features

Here are some of the key features of RAK offshore companies

RAK ICC RAK International Corporate Centre (RAK ICC or RAKICC) is a Corporate Registry established in the Emirate of Ras Al Khaimah, United Arab Emirates.
Type of Company International business company that can carry out business internationally or act as a holding company.
Information publishing and confidentiality RAK ICC does not keep any public register relating to company shareholders or officers. This information is kept confidential in accordance with the applicable laws.
Requirements for accounting There are no accounting or reporting requirements for RAK offshore companies.
Taxes RAK offshore companies are exempt from all taxation in the United Arab Emirates.
Laws RAK ICC provides a modern offshore legislative framework. Basis of legislation is the UAE law.
100% Ownership 100% foreign ownership is permitted and there are no requirements for having UAE national as partner.
Time zone Convenient world time zone: GMT+4
Paid up capital requirement No paid up capital requirement.
Minimum directors/shareholders RAK offshore company requires a minimum of 1 director and 1 shareholder.
Bearer shares Not permitted.
RAK ICC
RAK International Corporate Centre (RAK ICC or RAKICC) is a Corporate Registry established in the Emirate of Ras Al Khaimah, United Arab Emirates.
Type of Company
International business company that can carry out business internationally or act as a holding company.
Information publishing and confidentiality
RAK ICC does not keep any public register relating to company shareholders or officers. This information is kept confidential in accordance with the applicable laws.
Requirements for accounting
There are no accounting or reporting requirements for RAK offshore companies.
Taxes
RAK offshore companies are exempt from all taxation in the United Arab Emirates.
Laws
RAK ICC provides a modern offshore legislative framework. Basis of legislation is the UAE law.
100% Ownership
100% foreign ownership is permitted and there are no requirements for having UAE national as partner.
Time zone
Convenient world time zone: GMT+4
Paid up capital requirement
No paid up capital requirement.
Minimum directors/shareholders
RAK offshore company requires a minimum of 1 director and 1 shareholder.
Bearer shares
Not permitted.

Frequently Asked Questions

Here are some answers to some of the most common questions related to RAK offshore companies.

What is transfer of domicile?
A ‘transfer of domicile’ (also referred to as ‘re-domiciliation’ or change of jurisdiction) is a process whereby an existing offshore company moves its domicile or place of registration from one jurisdiction to another.
What happens when a company changes its domicile to RAK ICC?
Upon the completion of the change of domicile, the company:
  • continues to exist under the same name
  • maintains its identity and goodwill
  • maintains its legal status
  • maintains its banking history
  • maintains its operational history and company records
  • continues to operate as a going concern as before
in accordance with the laws of the RAK ICC.
Why would a company transfer its domicile to RAK ICC?
There may be various reasons for which a company may decide to change its domicile or re-domicile. Typical reasons for this include:
  • taking advantage of the UAE jurisdiction being ‘white listed’ with FATF and OECD
  • avoiding blacklists being increasingly applied by EU and other jurisdictions
  • taking advantage of ‘no’ taxation regime
  • taking advantage of the double taxation agreements
  • taking advantage of privacy provisions
  • alignment of shareholder change with shareholder’s place of residence
  • access specialist markets
  • access better banking solutions
access more favorable legal and business framework.

Government Departments

We can help you with the processes in the following government departments.

Dubai Economy Department
Dubai Courts
UAE Ministry of Economy
UAE Ministry of Labour
abu dhabi Judiciary department
RTA
Land Department
RERA
Ministry of Justice UAE
Ministry of Foreign Affairs UAE

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