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RAK ICC Foundations
Among the most secure, versatile, and cost-effective structures available globally for sophisticated asset protection, wealth management, and succession planning.
What Is a RAK ICC Foundation?
RAKICC Foundations are distinct legal entities with no shareholders and no directors. They are established by a Founder, who sets out their wishes in the Charter and By-Laws, which are highly customisable.
The Founder appoints Council Members to oversee the Foundation and retains the power to remove them. The Founder also designates Qualified Recipients (beneficiaries) and a Guardian who can step in if needed.
Once established, the Foundation functions in perpetuity as an "Orphan Structure", meaning it is self-owning. The Founder can amend any counterparties at any time.
Key Participants
Founder
Establishes the Foundation and sets the Charter and By-Laws. Retains control and can be a Qualified Recipient.
Council Members
Oversee the Foundation and are bound to follow the Founder's wishes. Appointed and removable by the Founder.
Qualified Recipients
The beneficiaries of the structure, designated by the Founder.
Guardian
Steps in should the Founder be unable to carry out their duties.
Registered Agent
Handles corporate governance and maintenance. Jersey Trust serves as your Registered Agent.
Key Features & Strengths
Asset Protection
A distinct legal personality separates assets from the Founder's personal estate, offering protection against creditors, political instability, and potential claims.
Confidentiality
No public registry. RAKICC is not compelled to disclose information to any Court or public body regarding ownership, management, or assets.
Succession Planning
Smooth, efficient transfer of assets across generations according to the Founder's wishes, without the complexities of probate.
Legal Firewall
2025 amendments introduced Firewall provisions shielding Foundations from foreign judgements that conflict with RAKICC regulations.
Statute of Limitations
A 3-year statute of limitations provides legal certainty against claims relating to establishment or asset transfers into the Foundation.
Tax Efficiency
Foundations can be eligible for UAE tax exemption. Wholly-owned subsidiaries may also qualify for tax transparency.
Frequently Asked Questions
What can a Foundation own?
Foundations can hold any asset, including property, shares in other companies, bonds, personal chattels, and investment portfolios.
How do Foundations differ from Trusts?
Foundations are an "orphan structure" which is self-owning with greater independence. They are distinct legal entities, whereas Trusts depend on the Trustee. The Founder retains control via the Charter and By-Laws. Foundations are also designed to function in perpetuity, unlike time-limited Trusts.
Can I redomicile my existing structure?
Yes. Existing Foundations in other jurisdictions can typically be redomiciled to RAKICC. Existing RAKICC Companies can also be converted to Foundations. Foreign entities can be re-domiciled to RAKICC and then converted.
Can Foundations open bank accounts?
Yes. If a given bank is unwilling to open accounts for Foundations directly, a RAKICC subsidiary company can be established which can open accounts with traditional banks and EMIs.
What courts apply?
RAKICC Foundations are drafted in accordance with Common Law. At establishment, Founders may choose RAK Courts, DIFC Courts, or ADGM Courts.
How long does setup take?
Once submitted, your Foundation can be ready in as few as 3 business days. Faster turnaround is available if needed. UAE presence is not required.
Ready to Establish Your Foundation?
Our team will guide you through every step, from initial consultation to ongoing management.
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