Previously Ras Al Khaimah Free Trade Zone Authority International Companies Regulations 2006 had been introduced for registering and governing offshore companies in the Ras Al Khaimah Free Zone in 2006.
Further New Regulations after merger of Ras Al Khaimah Free Trade Zone and Ras Al Kahimah Investment Authority called Ras Al Khaimah International Corporate Centre Business Companies Regulations 2016 (the Regulations) have been introduced in 2016.
Under the Regulations, an International Corporate Centre Business Company with limited liability can be formed with at least one shareholder, one director and one secretary. A director may also act as a secretary. The capital structure can be decided by the shareholder(s). However, all the shares must be fully paid when allotted and the International Corporate Centre Business Company.
An International Corporate Centre Business Company is required, at all times, to have:
- A registered agent, approved by the International Corporate Centre, a Government Authority of Ras Al Khaimah (“the Authority”). Such registered agent shall be located in the Free Zone or elsewhere in the UAE.
- A registered office, which must be an office maintained in the Free Zone by the company or an office maintained in the Free Zone or in UAE by its registered agent, to which all communications and notices may be addressed.
An International Corporate Centre Business Company may conduct any lawful business subject to the following restrictions as provided by the Regulations. The International Corporate Centre Business Company shall not carry on:
- Business with persons/entities in the Ras Al Khaimah Free Trade Zone or in the UAE except as otherwise provided in the Regulations.
- Any other business which may, by regulations made by the Authority, be prohibited.