RAKICC Foundation Registration

A RAKICC Foundation is a legal entity established under the Ras Al Khaimah International Corporate Centre (RAK ICC), one of the UAE’s leading international corporate registries. It offers a flexible and robust structure with its own legal personality distinct from the founder(s), making it highly suitable for asset protection, succession planning, family governance, and asset holding. RAK ICC’s foundation regime was introduced under the RAK ICC Foundations Regulations 2019 and was further strengthened through legislative enhancements in 2025 to reinforce governance, legal safeguards, and dispute resolution mechanisms.

In practice, registering a foundation in the RAK International Corporate Centre (RAK ICC) provides a robust legal framework for individuals and organizations seeking to establish a non-profit or asset-holding entity in the United Arab Emirates. RAK ICC is recognized for its flexible corporate regulations, international compliance standards, and efficient registration procedures. Foundations registered under RAK ICC are commonly used for philanthropic activities, wealth structuring, succession planning, and asset protection. The jurisdiction offers a secure and reputable environment, making it attractive to both local and international founders.

The registration process in RAK ICC requires the preparation and submission of key legal documents, including the foundation charter, bylaws, and details of the founder, council members, and beneficiaries. Additionally, a registered agent licensed by RAK ICC must be appointed to facilitate the incorporation process. Compliance with due diligence and anti–money laundering regulations is mandatory, ensuring transparency and adherence to international best practices. Once approved, the foundation is issued a certificate of registration, which grants it legal personality and the capacity to hold assets and enter into contracts. Registering a foundation in RAK ICC offers several strategic advantages, such as confidentiality, legal certainty, and long-term operational stability. The framework allows founders to define governance structures and objectives with considerable flexibility while maintaining compliance with regulatory requirements. As a result, RAK ICC foundations are well suited for charitable initiatives, family wealth management, and cross-border activities. Overall, the RAK ICC registration process supports the establishment of credible and sustainable foundations within a globally respected jurisdiction.

Rakicc
What Is a RAKICC Foundation?
A RAK ICC Foundation is a corporate body with a separate legal identity established by a founder to hold and manage assets for defined purposes. Unlike a trust, a foundation owns assets in its own name, giving it strong legal status for long-term planning, including:

• Asset protection from personal liability
• Succession and estate planning across generations
• Philanthropic or charitable initiatives
• Holding structures for investments, companies, and real estate
• Family governance frameworks
Assets within the foundation are administered by a Foundation Council acting under a charter and by-laws drawn up at incorporation.

Key Features of RAK ICC Foundations in UAE
1. Legal Personality and Confidentiality
• A foundation functions as a legal person separate from its founder(s), offering limited liability protection.
• Basic details (e.g., name, founder, council members) are recorded in the RAK ICC register, but beneficiaries and assets remain confidential unless required by authorities.
2. Governance
• Managed by a Council (minimum of two members) responsible for foundation assets and operations.
• Optionally a Guardian can be appointed to supervise governance, especially for charitable or specified objectives.
3. Perpetual Existence
• Foundations continue to operate beyond the founder’s lifetime, making them ideal for long-term succession and family planning.
4. Flexibility
• Can hold real estate, company shares, investment portfolios, bank accounts, and other property.
• Suitable for individuals, families, entrepreneurs, and investors.
5. Low Capital Requirement
• The minimum capital requirement is USD 100 (or equivalent), and additional assets can be contributed after incorporation.

Steps to Set Up a RAK ICC Foundation
Setting up a RAK ICC Foundation generally follows these stages:

1. Choose the Founder(s)
The founder can be an individual or corporate entity that will establish the foundation and contribute initial assets.
2. Draft Foundation Charter & By-Laws
These documents define:
• The foundation’s purpose and objectives
• Governance and operational rules
• Rights of beneficiaries and procedures for asset distribution.
This is a critical step and generally done with legal advisors.
3. Appoint Council Members
• Typically, a minimum of two council members are appointed. They can include family members, trusted advisors, or professionals.
4. Appoint a Registered Agent
• A RAK ICC-licensed registered agent must be engaged to submit documents and act as the foundation’s official representative in Ras Al Khaimah.
5. Submit the Application
• The application — including charter, by-laws, founder and council details — is submitted through the registered agent to RAK ICC.
6. Foundation Registration
• Once approved by RAK ICC, the foundation is issued a certificate of registration, and can begin holding and managing assets.
7. Post-Registration Compliance
• Annual accounting records are maintained by the registered agent; there’s no public disclosure of accounts and no audit requirement unless specifically directed.

Why Choose RAK ICC Foundation
Modern Common Law-Based Framework: RAK ICC’s laws are comparable with offshore jurisdictions and offer strong governance measures.
Cost-Effective & Flexible : Registration and annual maintenance fees are generally lower than in many global jurisdictions.
Confidential & Private : Beneficiary and asset details are kept confidential, providing privacy for family and estate planning.
International Recognition : RAK ICC Foundations are recognized under UAE law and compatible with international legal standards, helping with asset holding globally.

Common Uses of a RAK ICC Foundation
• Succession & Estate Planning: Smooth transfer of wealth without probate.
• Asset Protection: Shield personal assets from claims or liabilities.
• Family Governance: Structured management for family wealth.
• Holding Structures: Owning companies, shares, real estate, and other investments.
• Philanthropy: Charitable purposes or community objectives.

The RAK ICC Foundation is an increasingly popular legal structure in the UAE for individuals and families seeking flexibility, confidentiality, and legal robustness. It competes with similar vehicles offered by DIFC and ADGM, but often at lower cost and with simpler administrative obligations.

How NEX Consultants Can Assist You in Registering a Foundation in Dubai, UAE
NEX Consultants provides end-to-end professional support to help individuals and families successfully establish a foundation in Dubai or the UAE (including RAK ICC, DIFC, or ADGM foundations). From selecting the most suitable jurisdiction to completing registration and post-setup compliance, NEX Consultants ensures a smooth, compliant, and efficient foundation setup process tailored to your objectives such as asset protection, succession planning, or philanthropy.

Our key services include:
• Advising on the most suitable foundation structure and jurisdiction
• Drafting and reviewing Foundation Charter and By-laws
• Assisting with appointment of founders, council members, and guardians
• Acting as or coordinating with the registered agent
• Managing application submission and regulatory approvals
• Providing PRO services, document attestation, and government liaison
• Supporting bank account opening and compliance requirements
• Offering ongoing corporate and compliance support

NEX Consultants acts as a trusted partner, ensuring your foundation is established in full compliance with UAE regulations while aligning with your long-term strategic goals.

Questions and Answers on RAK ICC Foundation Setup

What is a RAK ICC Foundation?

A RAK ICC Foundation is a legal entity established under the Ras Al Khaimah International Corporate Centre (RAK ICC). It possesses its own legal personality, separate from its founder(s), enabling it to own assets, enter into contracts, and operate independently. RAK ICC Foundations are commonly used for asset protection, succession planning, family governance, charitable activities, and holding structures.

Under which law are RAK ICC Foundations governed?

RAK ICC Foundations are governed by the RAK ICC Foundations Regulations 2019, as amended. These regulations provide the legal framework for the establishment, governance, and operation of foundations and were further strengthened by legislative enhancements introduced in 2025 to improve governance standards, legal safeguards, and dispute resolution mechanisms.

Who can establish a foundation in RAK ICC?

Any individual or legal entity, whether resident in the UAE or abroad, may establish a foundation in RAK ICC, subject to compliance with due diligence and regulatory requirements. Founders may be natural persons, corporations, or other legal entities.

What are the main purposes of a RAK ICC Foundation?

RAK ICC Foundations may be established for a wide range of lawful purposes, including charitable, philanthropic, private wealth management, succession planning, asset holding, and family governance. They may be structured as either non-profit or private foundations, depending on their objectives.

What are the key documents required to register a RAK ICC Foundation?

The principal documents include the foundation charter, bylaws, details of the founder(s), council members, beneficiaries, and a registered office address. Additionally, the appointment of a licensed RAK ICC registered agent is mandatory to facilitate the registration process.

What governance structure does a RAK ICC Foundation have?

A RAK ICC Foundation is managed by a Council, which functions similarly to a board of directors and is responsible for overseeing the foundation’s affairs. The foundation may also appoint a Guardian to supervise the council and ensure that the foundation acts in accordance with its stated objectives.

Is a registered agent required for a RAK ICC Foundation?

Yes. RAK ICC regulations require every foundation to appoint a licensed registered agent. The registered agent acts as an intermediary between the foundation and the registry and assists with incorporation, filings, and ongoing compliance.

What compliance obligations apply to RAK ICC Foundations?

RAK ICC Foundations must comply with due diligence, anti–money laundering (AML), and counter-terrorism financing (CTF) regulations. They are also required to maintain proper records and comply with ongoing regulatory and reporting obligations as prescribed by RAK ICC.

What are the advantages of establishing a foundation in RAK ICC?

Key advantages include legal certainty, confidentiality, flexible governance structures, strong asset protection features, and international compliance standards. These benefits make RAK ICC Foundations attractive to both local and international founders.

Can a RAK ICC Foundation engage in commercial activities?

A RAK ICC Foundation may engage in commercial activities only if such activities are ancillary to its main purpose and permitted under its charter and bylaws. Any profits generated must be applied toward achieving the foundation’s objectives and may not be distributed to founders or beneficiaries, except as permitted by law.

Which law governs RAK ICC Foundations?

RAK ICC Foundations are governed by the RAK ICC Foundations Regulations 2019, as amended. These regulations provide the legal and regulatory framework for foundation establishment, governance, and operation and have been strengthened through subsequent legislative enhancements to ensure robust compliance and governance standards.

What role does NEX Consultants play in registering a RAK ICC Foundation?

NEX Consultants assists clients throughout the foundation registration process by advising on structure and purpose, preparing required documentation, liaising with licensed registered agents, and ensuring compliance with RAK ICC regulations. Their involvement helps streamline the incorporation process and reduce regulatory risk.

Is a registered agent required to establish a RAK ICC Foundation?

Yes. RAK ICC regulations require all foundations to appoint a licensed registered agent. NEX Consultants works in coordination with authorized agents to facilitate incorporation, filings, and ongoing compliance obligations.

Who can establish a RAK ICC Foundation with the assistance of NEX Consultants?

Both individuals and legal entities, whether based in the UAE or internationally, may establish a RAK ICC Foundation, subject to due diligence and regulatory approval. NEX Consultants supports founders from diverse jurisdictions by providing tailored advisory services.

What documents are required to register a RAK ICC Foundation?

Key documents include the foundation charter, bylaws, identification details of the founder(s), council members, and beneficiaries, and proof of a registered office address. NEX Consultants assists in drafting and reviewing these documents to ensure regulatory compliance.

How does NEX Consultants support compliance and governance?

NEX Consultants provides ongoing compliance support, including assistance with regulatory filings, governance structuring, and adherence to anti–money laundering (AML) and counter-terrorism financing (CTF) requirements. This ensures that the foundation remains compliant throughout its lifecycle.

What are the advantages of using NEX Consultants for RAK ICC Foundation setup?

Engaging NEX Consultants offers benefits such as professional expertise, reduced administrative burden, efficient processing, and enhanced regulatory compliance. Their advisory approach ensures that foundations are structured in line with the founder’s objectives while meeting legal requirements.

Can NEX Consultants provide post-registration support?

Yes. In addition to formation services, NEX Consultants offers post-registration support, including amendments, compliance monitoring, governance advisory, and liaison with registered agents and authorities.