UAE IBC
Incorporation package includes
- Incorporation of an IBC Company
- 1 year Registered Office Address
- 1 year Company Secretary Services
- Preparation of necessary resolutions and documentation
- Guidance to ensure your company remains in good standing
- Providing reminders and support for annual filings and renewals
Why form an IBC company in the UAE?
100% Foreign Ownership
UAE IBCs allow 100% foreign ownership, enabling full control and no requirement for a local partner or sponsor.
No Corporate or Income Tax
IBCs are exempt from UAE corporate and income taxes on profits earned outside the UAE, making them attractive for holding assets, investments, or intellectual property.
Minimal Reporting Requirements
IBCs are not subject to auditing, financial reporting, or public record disclosure, ensuring confidentiality for beneficial owners.
Asset Protection
UAE IBCs offer robust legal protections, making them popular vehicles for holding assets like real estate, intellectual property, and international investments.
No Physical Office Requirement
IBCs are not required to lease physical office space, significantly reducing setup and operational costs.
Strategic Location
Located in a key trading hub, UAE IBCs provide a reputable base for global business operations and access to regional markets.
Flexible Corporate Structure
IBCs allow a flexible corporate structure with the freedom to appoint directors, shareholders, and managers according to the business needs.
Enjoy RAK IBC's tax benefits
No Corporate or Income Tax
RAK IBCs are exempt from local corporate and income taxes.
100% Foreign Ownership
RAK IBCs allow for full foreign ownership without the need for a local sponsor.
No Capital Gains Tax
Profits from the sale of assets are not taxed.
No Reporting Requirements
RAK IBCs have minimal financial reporting and auditing obligations, ensuring privacy.
No Exchange Controls
Full freedom to repatriate profits and move capital internationally.
Delivery timeline
The IBC setup process in the UAE is efficient, generally taking around 3-5 business days. Here’s an overview of the steps:
Required documents
Our team will assist in navigating the setup process to ensure your UAE IBC is fully compliant, operational, and tailored to your business needs. To set up an IBC in the UAE, you will need to provide the following documents:
Passport Copies
Clear, color copies of passports for each shareholder and director.
Proof of Residential Address
A recent utility bill, bank statement, or other proof of address for shareholders and directors.
Bank Reference Letter (if applicable)
A bank reference letter may be requested, particularly for international shareholders, based on the Free Zone’s requirements.
Specimen Signature
Signed specimen signature for each shareholder and authorized signatory.
Business Activities Description
A brief description of the intended business activities and purpose of the IBC.
No Objection Certificate (for UAE residents)
If any shareholder or director is already a UAE resident, a No Objection Certificate (NOC) from their current sponsor may be required.
Frequently answered questions
Find answers to common questions about our services and the company formation process. We’re here to provide clarity and support for your business journey.
What is the difference between a RAK ICC offshore company and a free zone company?
RAK ICC Offshore Company:
- Cannot conduct business within the UAE market.
- Ideal for holding assets, international trading, and tax structuring.
- Does not require physical office space in the UAE.
Free Zone Company:
- Can conduct business within the UAE free zones and internationally.
- Requires a physical office or flexi-desk in the respective free zone.
- Suitable for businesses that require local operations or a UAE presence.
What activities can a RAK ICC offshore company undertake?
A RAK ICC offshore company is permitted to engage in:
- International trade and business operations.
- Holding assets, including shares, real estate (outside the UAE), and intellectual property.
- Estate and succession planning.
However, it cannot conduct business within the UAE or lease office space there without special approval.
What restrictions apply to RAK ICC offshore companies?
RAK ICC offshore companies have certain limitations, including:
- No Local Trade: They cannot conduct business directly within the UAE market.
- No Residency Visas: Offshore companies do not qualify for UAE residency visas for shareholders or directors.
- Physical Office Prohibited: They cannot lease office space in the UAE without special approval.
These restrictions make RAK ICC offshore companies suitable for international business activities.
Are RAK ICC offshore companies subject to UAE economic substance regulations (ESR)?
RAK ICC offshore companies are only subject to ESR (to have a real physical presence in the UAE) if they engage in relevant activities such as:
- Banking, insurance, fund management, or headquarters business.
- Shipping, intellectual property management, or holding company activities.
Companies conducting such activities must demonstrate adequate economic substance in the UAE, including staff, office space, and financial resources.
