RAKICC FOUNDATION - Elevate Accounting & Auditing

RAKICC FOUNDATION

Let's Talk

Free Consultation

Let's Talk

Free Consultation
uae corporate tax

What Is a RAKICC Foundation?

A RAKICC Foundation is an independent legal entity with its own separate legal personality, distinct from both the Founder and the beneficiaries. Governed by the RAK ICC Foundations Regulations 2019, it is designed to hold, manage, and protect assets while pursuing objectives defined by the Founder.
Each Foundation operates under a Charter and By-Laws, which clearly set out:
  • The Foundation’s purpose
  • Governance and decision-making structure
  • Asset management and distribution rules
  • Rights and entitlements of beneficiaries
Administration is handled by a Foundation Council, the central decision-making body. Where required, a Guardian may be appointed to provide oversight and ensure the Foundation continues to operate in line with its stated objectives.

Why Set Up a RAKICC Foundation? Key Objectives Explained

Succession Planning and Asset Protection

RAKICC Foundations provide a structured and predictable framework for transferring wealth across generations. By centralising ownership and control, they reduce uncertainty, minimise disputes, and ensure assets are distributed exactly as intended.

Strong Governance Structure

Founders may appoint trusted individuals or professional advisers as Council Members, supporting long-term stability, accountability, and effective oversight.

Liability Separation

As a separate legal entity, liabilities remain isolated from the Founder’s personal assets, making RAK ICC Foundation formation a preferred choice for risk management and protection.

Philanthropic Purposes

A RAKICC Foundation UAE may be established for charitable or non-charitable purposes, supporting education, healthcare, social initiatives, and structured philanthropy.

Personalized Wealth Solutions

RAKICC Foundations are highly adaptable, allowing Founders to manage complex asset portfolios, maintain confidentiality, and support multi-generational wealth strategies.

Benefits of Setting Up a RAKICC Foundation

International Compliance

RAK ICC follows internationally recognised standards, strengthening global credibility and transparency.

Attractive Tax Environment

RAK ICC Foundations benefit from a tax-efficient environment; however, tax treatment depends on the nature of activities, assets held, and the tax residency of involved parties.

Minimal Administration

There is no requirement to file or audit accounts, significantly reducing ongoing compliance obligations.

Cost-Effective Structure

Lower setup and annual maintenance costs compared to similar foundations in other jurisdictions.

High Flexibility

Governance, beneficiaries, and operational rules can be customised to reflect the Founder’s objectives.

Set up a RAKICC Foundation in the UAE with Elevate Accounting & Auditing. We handle every detail so your wealth and succession strategy are fully secured.

Get Expert Guidance

Common Uses of RAKICC Foundations

Hold real estate, shares, intellectual property, and investment portfolios within a single secure structure.
Act as a holding entity for shares in operating companies, including RAK ICC companies.
Facilitate structured distribution of income and profits to beneficiaries in line with the Founder’s instructions.
Preserve and grow family wealth while supporting orderly succession and reducing inheritance disputes.
Support charitable initiatives while retaining strategic control over funding and asset deployment.

Legal and Regulatory Framework of RAKICC Foundations

RAKICC Foundations operate within a robust and internationally aligned framework:
  • Regulations: RAK ICC Foundations Regulations 2019
  • Governing Law: RAK ICC Foundations Regulations 2019 (with flexibility to adopt common law principles in Charter and By-Laws)
  • Language: English
  • Confidentiality: Only basic registration details are disclosed; financial and beneficiary information remains private unless required by authorities
This framework makes RAKICC Foundation formation in UAE both secure and internationally aligned.

Key Parties and Roles Within a RAKICC Foundation

The individual or corporate entity establishing and funding the Foundation. There are no nationality or residency restrictions.
A minimum of two members is required. They manage the Foundation and ensure compliance with regulations and By-Laws.
Provides oversight of the Council and safeguards the Foundation’s purpose. Often recommended to be a professional adviser.
Individuals or entities entitled to benefit from the Foundation’s assets, with no restrictions on nationality, age, or relationship.
The recipient of remaining assets upon termination of the Foundation.

Step-by-Step Process to Set Up a RAKICC Foundation

  • Determine the Founder (individual or corporate entity)
  • Appoint Council Members (minimum two)
  • Register a UAE office address
  • Appoint a RAK ICC Registered Agent to manage compliance and Registrar liaison
  • Draft the Charter and By-Laws
  • Submit the application with signed documentation
  • Make the initial capital contribution (minimum USD 100 or equivalent)

This streamlined process makes RAKICC Foundation setup services efficient and straightforward with expert guidance from us at Elevate Accounting & Auditing.

Elevate Accounting & Auditing makes establishing a RAKICC Foundation in the UAE seamless. Get expert guidance on governance, asset protection, and regulatory compliance.

Get Expert Guidance

How Control and Management Work in a RAKICC Foundation

  • Council and Guardian Oversight ensures strategic direction and regulatory compliance
  • Private By-Laws allow customised control and management frameworks
  • Confidential Records are maintained internally and not publicly disclosed

Why Elevate Is the Right Partner for RAKICC Foundation Setup

Elevate is one of the UAE’s most trusted company formation specialists, with over one thousand successful registrations and more than a decade of hands-on experience.
Our team provides:
  • End-to-end RAKICC Foundation setup
  • Governance and structuring support
  • Ongoing compliance and advisory services
  • Fast turnaround times with personalised attention
We handle the complexity so your RAKICC Foundation Formation remains secure, compliant, and aligned with your long-term objectives.
RAKICC Foundation

Frequently Asked Questions (FAQs) -

A RAK ICC Foundation is an independent legal entity established under the RAK ICC Foundations Regulations 2019. It has its own legal personality, separate from the Founder, Council members, and beneficiaries, and is commonly used for asset structuring, succession planning, wealth management, and family governance purposes.
Key benefits of RAK ICC Foundation Setup include asset protection, tax efficiency, confidentiality, strong governance, and flexibility in structuring investments and philanthropic activities within a single legal framework.
To set up a RAKICC Foundation, a Founder must appoint Council Members, engage a Registered Agent, draft a Charter and By-Laws, register a UAE office address, and submit the application with a minimum capital contribution of USD 100.
Appoint Council Members (one or more, depending on governance requirements)
The RAKICC Foundation structure is built around a Founder, a Foundation Council responsible for management, optional Guardian oversight, and designated beneficiaries or qualified recipients. All roles and powers are governed by private By-Laws.
Yes. A RAK ICC Foundation for asset protection in UAE is commonly used for succession planning, as it separates ownership from control, helps reduce inheritance disputes, and supports orderly wealth transfer across generations.
RAK ICC Foundations benefit from a tax-efficient environment; however, tax treatment depends on the nature of activities, assets held, and the tax residency of involved parties.
Yes. A UAE foundation structure under RAK ICC can hold shares in operating companies, real estate, intellectual property, and investment portfolios, making it a flexible vehicle for long-term wealth management.

Speak to Our RAKICC Foundation Specialists

Contact Elevate Accounting & Auditing to explore how a RAKICC Foundation can support your asset protection, succession planning, and international structuring goals with clarity and confidence.
Email Us: parth@elevateauditing.com
+971 56 167 2533
Or
+971 56 167 2533
Scroll to Top