Ras Al Khaimah remains one of the most established offshore jurisdictions in the UAE. Offshore entities here are registered under the RAK International Corporate Centre (RAK ICC), the authority formed after RAK's two earlier offshore bodies, the RAK Investment Authority and RAK Free Trade Zone, were merged to align with international compliance standards.
A RAK ICC offshore company (also known as an International Business Company, or IBC) is a flexible structure widely used for international trade, holding companies, intellectual property protection, and real estate ownership in the UAE's designated freehold areas.
Since the introduction of the UAE Federal Corporate Tax (Federal Decree-Law No. 47 of 2022), RAK ICC offshore companies fall under its scope as UAE tax residents. In practice, most pure offshore structures — those with no UAE-sourced income and no physical presence in the country — remain outside the taxable scope or fall within the 0% band on taxable income up to AED 375,000, with 9% applying above that threshold.
Regardless of the tax outcome, registration with the Federal Tax Authority (FTA) and annual return filing are mandatory for every RAK ICC company, even where no tax is ultimately due. Companies must also maintain an internal Register of Ultimate Beneficial Owners (UBO), identifying anyone holding 25% or more ownership or control.
It can: trade internationally, hold shares in other companies, own UAE freehold property, act as a holding structure for global assets, and open bank accounts to support cross-border transactions.
It cannot: trade directly with UAE mainland or free zone entities, sponsor UAE residence visas, or maintain a physical office or staff within the UAE.
Ras Al Khaimah is widely regarded as the most cost-effective offshore jurisdiction in the UAE compared to alternatives such as Jebel Ali (Dubai) or Ajman. While Jebel Ali Offshore requires a minimum of two shareholders and generally involves higher setup costs, RAK ICC allows incorporation with a single shareholder and does not require the shareholder's physical presence during registration.
Setting up a RAK ICC offshore company requires an appointed registered agent, correct documentation, and, from 2023 onward, careful attention to Corporate Tax and UBO compliance. Our team at GRG Corporate Services handles the full process, from initial structuring advice through to incorporation, FTA registration, and ongoing compliance support.