Other characteristics of RAK ICC companies are as follows:
RAK ICC Companies can be registered by one shareholder and can have one director. The shareholder and director can be the same person and there is No limitation on shareholder and director residencies.
A company maybe incorporated, continued or re-registered under the Companies Regulations as: company limited by shares, company limited by guarantee that is/ is not authorized to issue shares, unlimited company that is/ is not authorized to issue shares.
A company limited by shares may also be registered as a ‘Segregated Portfolio Company’ and as a ‘Restricted Purposes Company’.
Companies may not be incorporated with a company name which has more than 100 characters, contravenes applicable laws, is identical/similar to the name under which another company has been registered under the Companies Regulations or another applicable law.
Where a proposed name has a meaning in a language other than English, the application to register the company under that name must be accompanied by a certified translation.
Shares may be issued with or without par value in any currency. Issuance of fractional shares is permitted and shares are freely transferable. Bearer shares are prohibited; shares may only be issued in registered form.
Companies shall have a registered office within the United Arab Emirates and appoint an approved registered agent. The registered office of the company shall be the office of its registered agent).
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