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Newly Introduced, Rak ICC Foundations
by The Corporate Department Affiniax Partners | JAN 19, 2020

With the continuous vision to achieve global brand recognition as a premium jurisdiction for the provision of Company formation services, Ras Al Khaimah International Corporate Centre has recently introduced its new product, the RAK ICC Foundation.

The RAK ICC Foundation is a corporate body created with a legal personality separate from that of its Founder(s) registered at RAK ICC. The Foundation acts through its council to administer its assets and carry out its objectives. Offshore foundations are commonly used as a vehicle for asset protection, estate planning, as well as wealth management. Such foundations have many advantages and the Foundation has been set up in a jurisdiction governed by offshore legislation.

The key benefits and advantages of the RAK ICC Foundation are:

  • Enhanced succession planning and asset protection
  • Robust governance structure
  • Guardian oversight
  • Distinct legal personality that separates liability whilst maintaining control of assets and have perpetual existence after the lifetime of the Founder
  • Governance
  • Continuity

The RAK ICC Foundation Regulations 2019 are made by the board of directors of RAK ICC pursuant to Ras Al Khaimah Decree No.4 of 2016. For further enquiries and information please feel free to contact our team at mail@affiniax.com or call us on +971 4 425 6616. Affiniax A A S Auditors a Registered Agent of Ras Al Khaimah International Corporate Centre. 

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