Cayman, BVI, Jersey and Panama all offer foundations or similar vehicles. What the UAE adds is a jurisdiction you can actually be part of — bank locally, hold residency, and meet your Council in person — rather than an address on a registry you never visit.

🏦 Banking that's actually usable

UAE-based banks are used to onboarding foundations and their founders directly, without the correspondent-banking friction that offshore-only structures often run into.

🛂 A residency to go with it

A UAE company or foundation structure can be paired with UAE residency — something a Cayman or BVI entity alone doesn't offer, and most founders end up wanting both.

✅ Off the FATF grey list

The UAE exited the FATF grey list in February 2024 and was subsequently removed from the EU's high-risk list too — a cleaner compliance profile than several long-standing offshore centres.

💼 0% personal & inheritance tax

No personal income tax, no capital gains tax on personal wealth, and no forced inheritance rules to work around — the same reasons families choose the UAE to live, not just to file paperwork.

Why This Jurisdiction

Entity Information

What We'll Need About The Entity — Any Jurisdiction

Proposed foundation name

Must not be misleading, and must carry the extension “Foundation.” Include a short explanation of what the name means or refers to.

Entity structure

Who the Founder(s) are, who sits on the Council, and whether a Guardian will be appointed.

Shareholding structure

Share capital, nominal value per share, class of shares (ordinary, in most cases), and total number of shares.

Assets or entities to be held

Existing companies, or ones about to be incorporated, that the foundation will hold shares in.

Document Checklist

Required From Every Individual

Same checklist across RAK ICC, DIFC and ADGM — Founder(s), Council members, Guardian, Beneficiaries and the Data Protection Officer where appointed.

Every Individual

Founder · Council · Guardian · DPO

Passport copy — clear, valid 6+ months
UAE Residence Visa & Emirates ID (front and back)
Passport-size photo, white background, 600×600px
Mobile number & email address
CV or LinkedIn profile
Assessment form — Business Brief, KYC, UBO, Source of Wealth

Proof Of Address

Any One Of The Following

Latest 3-month personal bank statement, showing full name and residential address
Latest 2-month utility bill (water, electricity, telecom), showing full name and address
Residential contract or title deed + latest 1-month utility bill for that address

Financial Standing

Source Of Income

Bank statements — last six (6) months
Diploma / education certificate, where available

FAQ

Ready To Send Documents?

Whichever Way's Easiest For You

No form to fill in — just email, WhatsApp, or book a call and our specialist takes it from there. Jurisdiction you're looking at: RAK ICC.

Not sure which jurisdiction fits? Ask us first

We have a dedicated Foundations specialist on board — book a free call, or message us on WhatsApp, and we'll help you pick before you submit anything.

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