RAK ICC (Ras Al Khaimah International Corporate Centre) and JAFZA Offshore (Jebel Ali Free Zone Authority) are the UAE’s two primary offshore company jurisdictions. Both allow non-UAE residents to incorporate holding structures without physical presence requirements, but they differ in cost, structure, and use cases.
RAK ICC
RAK ICC is administered by RAKIA (RAK Investment Authority) and is the more popular of the two offshore options due to lower costs. RAK ICC incorporation: AED 3,000–5,500/year via a licensed registered agent. Registered agents: there are 50+ licensed RAK ICC agents globally. RAK ICC companies can: own assets globally (property, shares, IP), hold bank accounts in UAE and internationally, and be used as holding vehicles for UAE mainland or free zone companies. RAK ICC companies CANNOT: conduct business within the UAE, employ staff in the UAE, or obtain residence visas.
Common use cases: international asset holding, structuring multi-jurisdictional businesses, estate planning, and holding UAE property as a legal entity.
JAFZA Offshore
JAFZA Offshore is a Jebel Ali Free Zone offshore company — older and more established than RAK ICC. JAFZA Offshore incorporation: AED 7,000–12,000/year. JAFZA Offshore has a unique advantage: JAFZA Offshore companies CAN own property in JAFZA’s designated real estate areas. This makes JAFZA Offshore the preferred choice for real estate investors wanting to hold JAFZA-area industrial property. JAFZA Offshore also has stronger bank recognition at UAE banks than RAK ICC, which can be an advantage for opening UAE corporate bank accounts.
Comparison Table
| Factor | RAK ICC | JAFZA Offshore |
|---|---|---|
| Annual Cost | AED 3,000–5,500 | AED 7,000–12,000 |
| UAE Property Ownership | Limited | Yes (JAFZA area property) |
| Bank Account Ease | Moderate | Good (JAFZA recognition) |
| Agents Available | 50+ globally | Fewer (more controlled) |
| Residence Visa | No | No |
| UAE Business Activity | Not permitted | Not permitted |
Recommendation
Choose RAK ICC for the most cost-effective UAE offshore holding structure — it is sufficient for 90% of international holding and asset protection use cases. Choose JAFZA Offshore if you specifically need to hold JAFZA-area real estate, or if your use case involves UAE banks that are more familiar with JAFZA-branded entities.