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All individual shareholders of businesses have now an opportunity under the updated policy of August. This policy has mentioned individuals who are willing to build their businesses in Freehold areas in Dubai can freely construct without the tension of trading licenses to fulfill their dream aims.
Freehold areas are zones where those citizens who do not belong to UEA and want to set up their business in UAE are now allowed to buy property and real estate and these foreign citizens are registered on Article number 4. These are very important changes that have been updated under the ministry of RAK ICC and the DLD department.
Now under the updated policy, every foreign citizen who wants to purchase a freehold property in Dubai can easily purchase but the business should be registered with RAK International Corporate Centre. Foreign citizens and UAE citizens both have equal opportunity to buy freehold zones in any of Dubai’s 23 zones to turn their dreams into reality.
RAK ICC is responsible for the registration process of freehold property ownership and all those rights which come under this association. To get the approval of the owner the company which has registered under RAKICC has to submit a “No Objection Letter” to DLD. You will be granted this opportunity if it looks like that company’s reputation is good as well as it only occupies shareholders and the last point is that it would be legally registered.
The submitted application could be rejected which is registered under RAK ICC if it lacks the DLD rules.
- It requires a certificate of fitness of at least 6 months.
- Any relevant certificate such as it could be an incorporation certificate or trade license certificate.
- An excellent document in which all amendments related to business are involved.
- Identification forms and documents must be included in it.
- A “No objection Letter” towards the developer as well as it stay for at least 1 month.
RAK International Corporate Centre is a permanent corporate registry operating company in Dubai and it was established in 2015. RAK ICC has rapidly started gaining popularity and recognition as a leading jurisdiction for company formation and offers an extensive range of corporate services that aim to fulfill the needs of local as well as international businesses.
In this article, we will explore the key aspects of RAK International Corporate Centre along with its features and benefits as well. We will also try to know why it has become an attractive destination for customers from all over the world.
RAK International Corporate Centre (RAK ICC) is situated in Dubai “Ras Al Khaimah” one of the seven emirates that make up the whole of Dubai and operates under the governance of the Ras Al Khaimah Economic Zone.
Ras Al Khaimah Economic Zone makes the way for a supportive business environment for entrepreneurs and for other corporations as well. The main purpose of establishing the RAK International Corporate Centre is to provide a modern and reliable platform for company formation, asset protection and structuring.
RAK International Corporate Centre offers various kinds of corporate entities according to the needs of different businesses.
Corporate Entities Offered by RAK International Corporate Centre:
- (IBC) stands for International Business Company
- (LLC) stands for Limited Liability Company
- Foundations
Every kind holds its own set of features and advantages which allows their businesses to select the need base option for their business objectives, tax considerations as well as routine base requirements.
Benefits of RAKICC for Businesses and Investors
For businesses and investors RAK ICC (International Corporate Centre) gives some preferable benefits.
Tax-Friendly Environment:
Tax-friendly environment is one of the benefits of RAK International Corporate Centre for investors. By staying under the registration of RAK ICC there is no need for companies to pay corporate income tax, personal income tax, and capital gains tax and this advantage of RAKICC makes it ideal for tax optimization and asset protection as well.
Straightforward Registration Process:
The RAK ICC registration process is straightforward which allows businesses to set up their presence with minimal bureaucracy as soon as possible. Its online registration process makes the process more simple and provides more facilities that allow investors to incorporate their companies remotely anywhere throughout the world.
Privacy Protection and Nominee Services:
RAK ICC prevents privacy and also gives priority to the clients as well. Through the support of nominee service RAK International Corporate Centredirectors, beneficiaries can maintain anonymity by ensuring discretion and confidence as well.
Flexibility in Asset Protection and Structuring:
Another advantage of RAK International Corporate Centre is that it provides flexibility in asset protection and structuring by allowing businesses to indulge their entities that best suit their requirements. From choosing to customizing, investors have the freedom to shape their vehicles according to their needs.
Access to Regional Markets:
RAKICC which is situated in the middle of the East provides access to regional markets and alternatives. Dubai’s well-organized infrastructure and suitable environment for politics increase its allure as a business hub.
Regulatory Compliance and Transparency:
RAK ICC which operates under a regulatory framework is designed to ensure investors’ transparency and compliance. By providing a secure and efficient environment for businesses it follows international guidelines and practices as well.
Anti-Money Laundering (AML) and Know-Your-Customer (KYC) Standards:
RAKICC follows suitable relevant international standards and regulations in which anti-money laundering (AML) and know-your-customer (KYC) requirements are also involved. To stay safe from illicit activities and maintain its integrity it conducts thorough due diligence from the clients.
Corporate Governance Practices:
Among its online and offline registration entities, RAK International Corporate Centre enhances good corporate governance practices efficiently. To ensure transparency and accountability companies are required to hold proper meetings.
About us:
Our experts provide expert consultation to understand the goals of your business and tailor a strategic plan for your company formation within RAKICC Free Zone. By ensuring safe and smooth setup process to the Enterprenure’s we offer insights into the regulatory requirements like business, environment and investment incentives.
Under special rules and regulations RAK International Corporate Centre Free Zone has operated. We ensure compliance with all legal requirements for company registration, licensing and permits on your behalf. By saving your time and efforts DMCC deep knowledge make your process smooth and successful.
We offer customized solutions to the entrepreneurs to fulfill our business needs and requirements. Whether your business is new or you want to expand your old business we provide personalized guidelines in every step of your success in journey. We provide comprehensive support from initial to post set-up consultation stage at every stage of your business journey. Every type of assistance with visa processing, office space allocation we’re committed to ensure success journey in RAKICC Free Zone. By partnering with us you gain access to our expertise and wide network to setup your business smoothly within the RAKICC Free Zone. Let be a part of us in one of the world’s leading commodities trading centers.
FAQ’s
What is RAK International Corporate Centre (RAK ICC)?
RAK International Corporate Centre is a corporate registry in Dubai, established in 2015, operating within the Ras Al Khaimah Economic Zone. It provides a platform for company formation, asset protection, and structuring, catering to both local and international businesses.
Who can register a business with RAK ICC?
Both foreign and UAE citizens can register their businesses with RAK ICC, especially if they aim to purchase freehold property in Dubai’s designated freehold zones.
What are the benefits of registering a business with RAK International Corporate Centre?
Businesses registered with RAK ICC benefit from a tax-friendly environment with no corporate income tax, personal income tax, or capital gains tax. Additional benefits include straightforward registration, privacy protection, flexibility in asset structuring, access to regional markets, and strong regulatory compliance.
What types of corporate entities can be formed under RAK ICC?
RAK International Corporate Centre allows the formation of various types of entities including International Business Companies (IBC), Limited Liability Companies (LLC), and Foundations, each tailored to meet specific business needs and objectives.
What is the process to register a company under RAK International Corporate Centre?
The registration process under RAK ICC is designed to be straightforward and can be completed online. It requires minimal bureaucracy, and businesses can set up their presence quickly.
How does RAK International Corporate Centre support privacy and asset protection?
RAK ICC offers nominee services and maintains high standards of privacy and confidentiality. It allows businesses to structure their assets flexibly to suit their specific needs, ensuring discretion and confidence.
What is required to purchase freehold property in Dubai under RAK International Corporate Centre?
To purchase freehold property, companies registered with RAK ICC must submit a No Objection Letter to the Dubai Land Department (DLD). The approval depends on the company’s good reputation and legal registration.
Can a company registered under RAK ICC operate without a physical presence in Dubai?
Yes, companies registered under RAK International Corporate Centrecan operate remotely from anywhere in the world, making it an ideal jurisdiction for international business operations.
What are the main sectors that benefit from registering with RAK International Corporate Centre?
RAK ICC is particularly advantageous for sectors like trading, consulting, e-commerce, and other service-based industries seeking to benefit from Dubai’s strategic location and business-friendly environment.
What compliance and regulatory standards does RAK ICC adhere to?
RAK International Corporate Centre complies with international standards and regulations, including Anti-Money Laundering (AML) and Know-Your-Customer (KYC) practices. This ensures a secure and efficient business environment that upholds transparency and accountability.
By registering with RAK ICC, businesses can leverage the benefits of an advanced regulatory framework and strategic geographical positioning, aiding in global business operations and regional market access.
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