Ras Al Khaimah International Business Company (RAK ICC) Formation and First-Year Fees –  USD 3,950.00 (All Included)

Note that our incorporation and annual fees are all “all-included fees”, and cover all the required services, duties, disbursements, and procedures to incorporate a RAK International Company, and keep it in good standing.

• All Applicable Registration and Government Fees (RAKIC Authority)
• Preparing and filing the Memorandum & Articles of Association
• Preparing the Director’s acceptance letter
• Preparing and executing appointment of director by the Registered Agent
• Providing Certificate of Incorporation and Filed Memorandum & Articles of Association
• Preparing First Board Meeting Minutes resolving the Allotment of Shares, Appointment of Directors, Registered Office and other Corporate Matters
• preparing the Register of Directors and Register of Shareholders
• Preparing Share Certificates
• Providing Registered Office Service, including business address, for the calendar year
• Providing Registered Agent Service for the calendar year

Time to form the company

It generally takes us one day to prepare the M&AA and the related corporate documentation, which need to be signed by the directors/shareholders of the company. Upon receiving the signed documents, we can proceed with the filing, and it takes 1 to 2 business days for the Registrar to issue the Certificate of Incorporation, and the stamped M&AA.

Bank Account Opening Services (Optional)

We can assist you in open bank accounts for companies in the following offshore jurisdictions:

• Andorra Bank Account - USD $ 1,200.00
  Andorra Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Andorra Bank Account

  USD 500,000

  Yes

  USD, EUR, CHF, CAD, AUD, SEK, NOK, NZD

  Yes

  Private Bank with focus on wealth management. If they open a corporate account for an active company, they would need that either the account has a substantial amount on the account, or that the UBO himself opens an account for wealth management.
• Antigua Bank Account - USD $ 300.00
  Antigua Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Antigua Bank Account

  USD 10,000

  Yes

  USD, EUR

  Yes

  In euros DBank processes only via SEPA. In dollars at the moment only with correspondents in the US, through FEDWIRE (not ACH at the moment). Cash Secured Visa Credit Card available.

  Antigua Bank Account

  USD 25,000

  Yes

  USD, EUR, GBP

  Yes

  Cash Secured Visa Credit Card

  Antigua Bank Account

  USD 5,000

  Yes

  USD, EUR

  Yes

  UnionPay Cards work without inconvenience in the USA.
• Armenia Bank Account - USD $ 1,200.00
  Armenia Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Armenia Bank Account

  USD 50,000

  Yes

  EUR, USD, RUB, AMD

  Yes

  Business connection to Armenia is required. The annual outgoing turnover of the client should be at least 10 mln USD per year. The annual number of outgoing transfers should be at least 60 per year. Note that the banks considers smaller companies is well on case-by-case basis, but they could charges additional fees.
• Bahamas Bank Account - USD $ 500.00
  Bahamas Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Bahamas Bank Account

  USD 1,000,000

  No

  USD

  Yes

  Family Offices, Fund Managers and Asset Managers only.

  Bahamas Bank Account

  USD 10,000,000

  No

  Multicurrency

  Yes

  Primary focus with physical presence in Bahamas. Business interest in the Bahamas. The company needs to have been in existence for a minimum of 3 years.

  Bahamas Bank Account

  USD 1,000,000

  Yes

  Multicurrency

  Yes

  Credit Card available on a case by case basis.

  Bahamas Bank Account

  USD 1,000,000

  Yes

  Multicurrency

  Yes

  Remote account opening is possible, but the bank will visit the client within first year after opening.

  Bahamas Bank Account

  USD 500,000

  Yes

  USD, EUR

  Yes

  Prepaid debit card available.
• Belize Bank Account - USD $ 300.00
  Belize Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Belize Bank Account

  USD 4,000

  No

  EUR, GBP, USD

  Yes

  Belize Bank Account

  USD 1,000

  Yes

  USD, EUR, GBP, CAD, CHF, AUD, AED, CNY, SEK, NOK

  Yes

  Prepaid Visa cards available.

  Belize Bank Account

  USD 3,000

  Yes

  Multicurrency

  Yes
• BVI Bank Account - USD $ 900.00
  BVI Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  BVI Bank Account

  USD 20,000

  No

  USD, GBP, HKD

  Yes

  Bank of Asia does not onboard corporations who have a connection in US and Russia.

  BVI Bank Account

  USD 500,000

  No

  Multicurrency

  Yes

  VP Bank offers services to local BVI residents as well as international clients who have BVI companies, trusts or fund structures. It is primarily focused on financing, investment management, custodial and securities trading accounts. No Commercial Activity, only for asset management business.
• Cayman Islands Bank Account - USD $ 900.00
  Cayman Islands Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Cayman Islands Bank Account

  USD 250,000

  Yes

  USD, EUR, GBP, CAD, AUD, JPY, SEK, CHF

  Yes

  Cayman Islands Bank Account

  USD 100,000

  Yes

  USD, EUR, CAD, GBP, AUD, Multicurrency

  Yes

  NCB Cayman Bank offers trading, private and investment bank accounts
• Cook Islands Bank Account - USD $ 600.00
  Cook Islands Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Cook Islands Bank Account

  USD 250,000

  Yes

  USD, EUR, GBP, CAD, NZD, AUD, SGD, HKD

  Yes

  Clients can have a corporate account for operational purposes only if they open an investment account as well.
• Curaçao Bank Account - USD $ 500.00
  Curaçao Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Curaçao Bank Account

  USD 100,000

  No

  Multicurrency

  Yes

  Internet Banking only for viewing the account, not for operating

  Curaçao Bank Account

  N/A

  Yes

  Multicurrency

  Yes
• Cyprus Bank Account - USD $ 1,200.00
  Cyprus Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Cyprus Bank Account

  N/A

  Yes

  Multicurrency

  Yes

  Supports large Cypriot and international groups, preferably operating from Cyprus and international companies in their expansion and operations in Cyprus.
• Dominica Bank Account - USD $ 300.00
  Dominica Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Dominica Bank Account

  USD 15,000

  Yes

  USD, EUR, GBP, CHF

  Yes

  Dominica Bank Account

  USD 15,000

  Yes

  USD, EUR, GBP

  Yes

  Dominica Bank Account

  N/A

  No

  Multicurrency

  Yes

  SWIFT transactions are carried out only through a pool account in the name of the bank.

  Dominica Bank Account

  N/A

  No

  Multicurrency

  Yes

  Dominica Bank Account

  N/A

  No

  EUR, USD

  Yes

  SWIFT transactions are carried out only through a pool account in the name of the bank.
• Gibraltar Bank Account - USD $ 1,200.00
  Gibraltar Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Gibraltar Bank Account

  N/A

  No

  Multicurrency

  Yes

  Gibraltar Bank Account

  USD 200,000

  No

  USD, EUR, GBP

  Yes
• Hong Kong Bank Account - USD $ 1,400.00
  Hong Kong Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Hong Kong Bank Account

  HKD 100,000

  Yes

  Multicurrency

  No

  A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.

  Hong Kong Bank Account

  HKD 200,000

  Yes

  HKD, USD, Multicurrency

  No

  A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.
• Isle of Man Bank Account - USD $ 1,200.00
  Isle of Man Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Isle of Man Bank Account

  N/A

  No

  USD, AUD, EUR, CZK, DKK, HUF, SGD, JPY, NOK, GBP, ZAR, ILS, NZD, PLN, CHF, SEK, CAD, BGN

  Yes

  Preferred industries: Asset Holding Entities, e-sports, yachting, aviation, e-commerce, internet sales and trading, business consultancy, advertising and marketing, property development and management.
• Labuan Bank Account - USD $ 500.00
  Labuan Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Labuan Bank Account

  USD 10,000

  No

  USD, JPY, SGD, EUR, GBP

  Yes

  Labuan Bank Account

  USD 250,000

  No

  Multicurrency

  Yes

  Labuan Bank Account

  USD 25,000

  No

  USD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AED

  Yes

  They focus more on Labuan incorporated entities.
• Liechtenstein Bank Account - USD $ 1,200.00
  Liechtenstein Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Liechtenstein Bank Account

  USD 500,000

  No

  Multicurrency

  Yes

  Every active NFE needs to have a substance.
• Mauritius Bank Account - USD $ 600.00
  Mauritius Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Mauritius Bank Account

  USD 50,000

  No

  Multicurrency

  Yes

  Mauritius Bank Account

  USD 50,000

  Yes

  Multicurrency

  Yes
• Nevis Bank Account - USD $ 300.00
  Nevis Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Nevis Bank Account

  USD 10,000

  No

  USD, EUR, GBP, Multicurrency, CHF, CAD

  Yes

  Nevis Bank Account

  USD 100,000

  No

  USD, EUR, GBP, CHF, AUD, CAD, AED, JPY, SGD, HKD

  Yes

  Nevis Bank Account

  USD 25,000

  No

  Multicurrency

  Yes

  Nevis Bank Account

  USD 10,000

  No

  USD

  Yes
• Panama Bank Account - USD $ 1,200.00
  Panama Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Panama Bank Account

  USD 50,000

  Yes

  USD, EUR

  Yes

  Panama Bank Account

  USD 10,000

  Yes

  USD, EUR, CHF, GBP, CAD

  Yes
• Puerto Rico Bank Account - USD $ 300.00
  Puerto Rico Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Puerto Rico Bank Account

  N/A

  Yes

  USD, HKD, AUD, CAD, CHF, CNY, DKK, EUR, GBP, JPY, NOK, NZD, SEK, SGD, TRL, XAF, ZAR

  Yes

  Unionpay Merchant service for clients.

  Puerto Rico Bank Account

  USD 25,000

  No

  USD

  Yes

  Their main focus is on commercial type, trade finance.

  Puerto Rico Bank Account

  USD 10,000

  No

  Multicurrency

  Yes

  Puerto Rico Bank Account

  USD 150,000

  No

  USD

  Yes
• Saint Lucia Bank Account - USD $ 300.00
  Saint Lucia Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Saint Lucia Bank Account

  N/A

  No

  Multicurrency

  Yes

  Saint Lucia Bank Account

  USD 5,000

  Yes

  USD, EUR, GBP, HKD, Multicurrency, CAD, CHF, AED, AUD, NZD, NOK, SEK, THB, JPY, ZAR

  Yes
• Seychelles Bank Account - USD $ 500.00
  Seychelles Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Seychelles Bank Account

  USD 25,000

  No

  USD

  Yes

  Internet banking is in view mode only, all transactions are carried out via email or by phone.
• Singapore Bank Account - USD $ 900.00
  Singapore Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Singapore Bank Account

  SGD 100,000

  No

  USD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CAD

  Yes

  Nexus in the form of client/supplier/partner/contractor in Singapore required.

  Singapore Bank Account

  USD 3,000,000

  No

  USD, SGD

  Yes

  Singapore Bank Account

  SGD 250,000

  No

  Multicurrency

  No

  Nexus in the form of client/supplier/partner/contractor in Singapore required.

  Singapore Bank Account

  SGD/USD 30,000

  No

  SGD, AUD, CAD, RMB, EUR, HKD, JPY, NZD, GBP, USD

  Yes

  Nexus in the form of client/supplier/partner/contractor in Singapore required.

  Singapore Bank Account

  SGD/USD 30,000

  No

  Multicurrency

  Yes

  Nexus in the form of client/supplier/partner/contractor in Singapore required.

  Singapore Bank Account

  USD 30,000

  No

  USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF

  Yes

  Nexus in the form of client/supplier/partner/contractor in Singapore required.

  Singapore Bank Account

  SGD 250,000

  No

  Multicurrency

  Yes

  Nexus in the form of client/supplier/partner/contractor in Singapore required.
• Switzerland Bank Account - USD $ 1,200.00
  Switzerland Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Switzerland Bank Account

  CHF 500,000

  Yes

  EUR, GBP, CHF, CAD, AUD, JPY, SGD, PLN, HKD, NOK, SEK, ILS, MXN, DKK, TRL, NZD, AED

  Yes

  Amina Bank does not open accounts with a pure transactional business nexus.

  Switzerland Bank Account

  CHF 1,000,000

  Yes

  Multicurrency

  Yes

  Switzerland Bank Account

  CHF 500,000

  Yes

  Multicurrency

  Yes

  Switzerland Bank Account

  CHF 5,000

  Yes

  Multicurrency

  Yes

  Companies must have an expected turnover of at least CHF 3,000,000.

  Switzerland Bank Account

  CHF 3,000,000

  Yes

  Multicurrency

  Yes

  Deposit must be maintained in crypto assets held through the bank's custody services. Minimum Average Balance for high risk jurisdictions should be 1-2Mio CHF.
• USA Bank Account - USD $ 1,400.00
  USA Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  USA Bank Account

  USD 100,000

  No

  USD

  Yes

  min deposit USD 100k and more AND/OR with revenues of USD 1M

  USA Bank Account

  from 10,000 but preferred 250K-300K

  Yes

  USD, Multicurrency

  Yes

  They tend to focus more on technology/startup companies that are focused on growing and scaling through future equity raises and subsequent debt facilities.

  USA Bank Account

  USD 5,000

  Yes

  USD

  Yes

  The company should trade in Asia and the USA.

  USA Bank Account

  Typically USD 25,000 - USD 50,000, for high risk USD 500,000

  Yes

  USD

  Yes

  At least one US based signatory is required. Purpose to open an account in US is required.
• Vanuatu Bank Account - USD $ 500.00
  Vanuatu Bank Account

  Bank

  Min Deposit

  Cards

  Currencies

  Remote

  Comments

  Vanuatu Bank Account

  1,500 EUR

  No

  EUR, GBP, USD

  Yes

  Outgoing USD transactions cannot be facilitated.
• EMI Account - USD $ 300.00
  EMI Accounts

  EMI

  Min Deposit

  Cards

  Currencies

  Remote

  DNBC (CA) (former DSBC)

  N/A

  No

  EUR, CAD, GBP, CHF, HKD

  Yes

  Hong Kong EMI Account

  N/A

  Yes

  Multicurrency

  Yes

  Kazakhstan EMI Account

  Depending on category.

  No

  Multicurrency

  Yes

  Lithuania EMI Account

  N/A

  Yes

  EUR

  Yes

  Lithuania EMI Account

  N/A

  No

  EUR, CAD, GBP, CHF, HKD

  Yes

  Lithuania EMI Account

  N/A

  No

  EUR

  Yes

  Lithuania EMI Account

  N/A

  No

  EUR, USD, GBP, SEK, JPY, HKD

  Yes

  Luxembourg EMI Account

  N/A

  No

  Multicurrency

  Yes

  Singapore EMI Account

  N/A

  Yes

  SGD, USD

  Yes

  United Kingdom EMI Account

  N/A

  Yes

  EUR, GBP

  Yes

  United Kingdom EMI Account

  N/A

  No

  EUR, GBP

  Yes

  United Kingdom EMI Account

  Depending on category.

  No

  EUR, GBP

  Yes

Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.

Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.

Nominee Services (Optional)

• Nominee Director Services – USD 2,500.00 p.a.
• Nominee Shareholder Services – USD 2,500.00 p.a.

RAK Company Annual Fees (payable one year after incorporation, and annually thereafter) – USD 3,550.00

• All Applicable Annual Government Fees
• Advising on completion of and filing the Economic Substance Return
• Maintaining the Minute Book, Registers and Statutory Records
• Providing Registered Agent Service for one year
• Providing Registered Office Service, including business address, for one year

Other Services (Optional)

• Formation and Maintenance of Freezone Companies (Dubai, Fujairah, RAK, Ajman, Abu Dhabi, Sharjah)
• Assistance with obtaining 3-year Business Visas for directors of Freezone companies
• Continuation of Foreign Companies
• Secretarial Services
• Accounting Services

Please, contact us for further information.