About RAK International Corporate Centre (RAKICC)
Ras al Khaimah, situated approximately 45 minutes away from Dubai, is one of the fastest growing of the seven Emirates that comprise the UAE. It has built its reputation on a business-friendly investment environment and competitive costs. The cost of doing business in Ras Al Khaimah is substantially lower than Dubai, thereby attracting investors from all over the world.
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The emirate of Ras Al Khaimah enacted the Ras Al Khaimah International Company Law in 2006, which is based on the international company regime of the British Virgin Islands (BVI). The laws were updated in 2016 to keep pace with developments in the sector. RAKICC has since established itself as one of the most popular jurisdictions for offshore company incorporation in the GCC.
TYPES OF LICENSES:
A RAKICC company can operate under these types of licenses:
Documents Required to Setup a RAKICC Company
The following are required for every directors, officers and shareholder:
- Copy of the passport of the company directors, officers, and shareholders.
- An original proof of residence showing the name and address of the company directors, officers, and shareholders. A utility bill or bank statement which includes a name and address is the most common type of document provided by clients. This document must be current and have been issued in the last 90 days.
- An original letter of introduction is required. This letter must be issued by a bank on official letterhead.
- If the shareholder is another company, then notarised / attested versions of those documents will be required.
Timeframe for RAKICC License
Incorporation of a RAKICC company can take as little as 24 hours. The renewal of your company license can take 3-5 business days.