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RAK ICC Foundation

What is RAK ICC Foundation

RAK International Corporate Centre (RAK ICC) Foundations are a corporate body created with a legal personality separate from that of its founder(s). The Foundation acts through its council to administer its assets and carry out its objects.

Uses of RAK ICC Foundation

Enhanced succession planning and asset protection
To provide a robust governance structure
Guardian oversight
A distinct legal personality that separates liability meanwhile maintaining control of assets and have perpetual existence after the lifetime of the founder
To hold assets
Distribute dividends from operating companies
Hold shares in RAK ICC companies
Manage and hold the founders assets for the benefit of the qualified recipients
Hold operating companies
Family philanthropic purposes

Advantages of RAK ICC Foundation

Internationally compliant Registry
Robust governance structure
Attractive tax regime effective in the UAE
No requirement to file or audit accounts – the company otherwise remains subject to RAK ICC AML requirements set out in RAK ICC Business Companies Regulations 2018
Possibility to migrate to RAK ICC from overseas
Low registration and administrative costs
Governance
Perpetual concept
Flexibility with beneficiary classes