The RakICC Offshore company is one of the most popular choices for international entrepreneurs entering the UAE. This structure is ideal for businesses not requiring a UAE office, including passive investment activities.

Clients commonly use RAK Offshore companies for:
• Holding shares in international, local, or free zone companies
• International consulting
• Investment activities
• Trading outside the UAE
• Holding intellectual property

RAKICC Offshore Benefits

• 0% corporation tax, 0% VAT, and no income tax
• No requirement for owners or directors to visit the UAE
• 100% foreign ownership
• Confidentiality with no public register of shareholders or directors
• Registered office in Dubai

RAKICC companies cannot rent office space, apply for staff visas, or import goods into the UAE. They must be incorporated through a licensed registered agent such as Freemont.

When you set up your RAKICC/RAK Offshore company with Freemont, you benefit from a registered office address in the heart of Dubai.

Why Use Freemont Group?

Choosing the right partner is essential when setting up your RAK offshore company, and Freemont Group brings nearly two decades of proven experience to the process. As a European-managed firm operating in the UAE since 2006, we understand the local landscape, maintain strong relationships with key authorities, and have successfully incorporated hundreds of companies across the Emirates.

This expertise allows us to deliver a setup process that is both cost-effective and time-efficient — a level of reliability and precision that sets us apart in the UAE market.

If you require a corporate bank account, our long-standing connections with major UAE banks enable us to facilitate introductions and guide you through the process smoothly.

While we provide general guidance on the most common structures, the best way to determine the right approach for your business is to speak directly with one of our experts, who can immediately recommend the most suitable solution tailored to your needs.

In early 2019, the RAK Authorities recognised our work by awarding us the “Top Agent” Award for 2018 — a distinction based on:

• Assisting a significant share of RAK ICC’s clients
• Maintaining exceptionally low error rates
• Zero client complaints
• Strong due diligence practices
• Accurate and compliant documentation
• Rapid and reliable communication with the Authority

If you are considering relocating all or part of your business to the UAE, a Free Zone company is often the ideal choice. Although certain activities may be restricted outside the Free Zone, these entities can freely trade with international markets from within the UAE. A local Emirati shareholder is not required.

A Free Zone structure gives you a physical presence in the UAE, allowing you to rent office space and obtain visas for yourself and your employees.

Key Advantages of Free Zone Setup

• 100% foreign ownership
• Ability to rent offices or flexi desks
• Eligibility to obtain UAE residence visas
• No income or capital gains tax
• Easy staff hiring processes
• Duty-free imports, provided goods are not supplied to the UAE local market

Benefits of Free Zones

Each Free Zone is managed by its own authority, which often generates revenue through office rentals, licence fees, and corporate services.

While all Free Zones share core features, they differ in several important aspects:

• Sector focus or industry specialisation
• Office rental costs (lower outside Dubai)
• Minimum office space requirements
• Available support facilities
• Annual licence fees
• Paperwork and setup process
• Capital requirements
• Number of visas permitted per square metre

Below are some of the Free Zones we recommend:

Ajman Free Zone • DMCC • Dubai World Central • Fujairah Free Zone • Hamriyah Free Zone • JAFZA • Umm Al Quwain Free Zone • Meydan Free Zone • International Free Zone Authority (IFZA)

Which Free Zone to Choose?

All Free Zones allow 100% foreign ownership, and the UAE has no personal income tax. However, companies operating locally must consider corporate tax rules.

Import/export companies may be subject to import duties, and since 2018, most businesses must charge 5% VAT. There are also differences in pricing and permitted activities.

To determine the best option, we focus on three key questions:

1. Will you do business inside the UAE?

Some companies operate exclusively outside the UAE. These clients often use Dubai for business credibility and banking, making a RAK Offshore company the preferred choice. It is cost-effective, easier to set up, and offers strong tax benefits.

2. What is your business activity?

Free Zones issue activity-specific trade licenses. Activities must match the licence type—for example, a financial consultant must hold a financial consultancy licence, and a furniture trader cannot import unrelated goods. Free Zones are designed to group similar industries for synergy.

Not all activities are permitted in every Free Zone.

3. What kind of UAE presence do you need?

Office space, warehouse facilities, and visa quotas vary between Free Zones. Visa eligibility depends on the size of the premises you rent.

Once these questions are answered, we usually recommend Free Zones such as IFZA Dubai, Fujairah Free Zone, DMCC, and others based on performance and competitiveness.

How Freemont Group Can Assist You

Freemont Group is a European-managed firm with extensive experience setting up Free Zone companies in the UAE since 2006. Our established relationships with Free Zone authorities ensure a smooth and efficient process. We also provide guidance on international tax planning, asset protection, and estate planning.

If required, we offer strong banking introductions through our UAE network and assist with visa and work permit applications.

Additional services commonly used by our clients:

• Accounting and bookkeeping
• VAT filing and reporting
• Corporate tax filing and reporting
• Nominee directors
• Visa assistance
• Virtual office and tenancy contracts

We can provide a clear overview of the best Free Zones for your goals. For personalised guidance, it is always best to speak with one of our experts.

Why incorporate a Dubai Mainland LLC Company?

An LLC is ideal for entrepreneurs wishing to trade within the UAE and internationally. It offers access to the UAE’s low-tax environment, streamlined regulations, and one of the world’s most active commercial hubs.

Dubai Mainland LLC Requirements

A Dubai Mainland company can be formed with a minimum of two individuals whose liability is limited to their share in the company’s capital. This option is recommended for individuals or international companies seeking to engage in trade both domestically and globally.

The previous requirement for a 51% Emirati shareholder has been waived for most activities.

Dubai Mainland companies and LLCs may trade freely across the UAE without restrictions.

The minimum capital requirement is AED 300,000, payable in cash or in kind. This capital must be divided into equal shares, each valued at no more than AED 1,000.

Main Advantages

Dubai Mainland Companies and LLCs offer the following benefits:

• 0% income and capital gains tax and no VAT on most imported or exported goods
• Efficient and streamlined government services and a low regulatory environment
• Rule of law and strong institutional support
• No restrictions on hiring expatriates
• Easy access to international corporate bank accounts
• Ability to acquire unlimited property in the UAE
• Eligibility for UAE residence visas for foreign entrepreneurs and investors

Why use Freemont?

Freemont Group has been setting up Mainland/LLC companies in the UAE since 2006. As a European-managed firm with extensive experience, we ensure a cost-effective and time-efficient setup supported by strong relationships with government authorities.

We also maintain reliable connections with leading UAE banks and can provide introductions for corporate account opening.

Additional services commonly requested:

• Accounting and bookkeeping
• VAT filing and reporting
• Corporate tax filing and reporting
• Nominee directors
• Visa assistance
• Bank account opening
• Virtual office and tenancy contracts

To determine the best option for your UAE business setup, it is always best to speak with one of our experts who can recommend the most suitable solution.

Not all banks are suitable for every client. Each institution offers different services—from standard retail banking to full corporate or private banking—and each has its own documentation requirements, minimum balance rules, tariffs, and sector or country specialisations.

Choosing the right bank is essential for long-term cooperation. Because every bank has its own criteria, opening an account abroad requires careful analysis, proper preparation, and submission of the required documentation. This step is crucial for structuring foreign business and effective tax planning.

Requirements

UAE bank requirements change frequently. Some business activities may be accepted by certain banks but rejected by others. Based on your preferences—such as bank reputation, service offerings, minimum deposit requirements, and fees—and the current policies of our partner banks, our advisors will propose suitable banking options aligned with your activities.

Our office maintains strong relationships with several banks in the region, both local and international. We handle all preparatory paperwork and obtain the necessary documents to open accounts in the UAE. In some cases, the account can be opened without your physical presence by appointing us as a signatory. We can also administer the company’s account under your instructions.

Documents that may be required include:
• Personal bank account statements
• Passport copy
• Residence permit or UAE entry stamp
• Utility bill or proof of address and CV
• UAE mobile number
• Incorporation certificate
• Memorandum of Association
• Trade licence
• Passport copy of director/shareholder
• Utility bill of director/shareholder and CV
• Shareholders’ resolution to open the bank account

If a foreign company is a shareholder, its corporate documents must be legalised in the country of origin and attested in the UAE.

Process

Due to strict compliance requirements, bank account opening typically takes 2 to 3 weeks after all documents are submitted. All UAE banks—local and international—offer efficient online banking services.

Our Services

Our team is ready to assist with UAE bank account opening and also provides introductions to reputable banks worldwide. Services include:

• Banking introductions
• Corporate, trust, and personal account opening
• Account operation and maintenance
• Handling and transferring Letters of Credit
• Arranging credit and debit cards
• Online banking setup

We have assisted thousands of clients in successfully establishing operations across multiple jurisdictions.