Define the assets, beneficiaries and decisions your RAK ICC foundation needs to support.
Discuss your plans with an adviser.
Define the assets, intended beneficiaries, decision-making roles and purposes first. Use that governance brief for legal review, then coordinate formation with the separate work needed to transfer or register the assets.
No. A foundation has its own governance and purposes. Assess how the council and governing documents will administer the assets rather than treating it as a company whose decisions are simply allocated among shareholders.
Define the assets, people and governance before drafting the foundation’s documents.
Expand a deliverable for the detail.
Map intended assets, beneficiaries or purposes and decision-making roles for the professional governance discussion.
Organise founder, council and other participant records alongside drafting instructions and registration evidence.
Separate foundation registration from asset transfers and record the continuing governance and administration responsibilities.
Firswood provides this service directly. Confirm the registered-agent appointment and any professional authorisation required for the agreed work. Registry decisions, legal and tax advice, asset transfers and banking each follow their applicable requirements.
A RAK ICC foundation has a legal identity separate from its founder and acts through a council. It can be considered for holding assets and organising long-term family governance. Its usefulness depends on the quality of its governing documents and the arrangements made to place the intended assets into the structure. Compare this with an offshore company holding structure where the question is whether conventional share ownership better fits the intended purpose.
Start by describing the outcome you want: who should benefit, who should make decisions and how those decisions should work over time. Agree how the brief will be prepared with the appointed registered agent and relevant legal and tax advisers, confirming each provider’s role and authorisation. Specialist drafting and asset-transfer work should be expressly included in the engagement where required.
A coherent brief for drafting, registration and implementation
Start with the central intention and work through each connected decision. Agree the instructions before preparing the final documents.
Read the detailed considerationsCompanyFormation.ae · RAK ICC Foundation Formation
Use the relevant group for your ownership and application route. Preparation records and documents requiring authority confirmation are identified below.
The receiving authority and appointed professional confirm the final file for your particular application.
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Define the assets, people and governance before drafting the foundation’s documents.
Build a clear asset and family brief before choosing standard documents. Consider distributions, voting, replacement decision makers and how disagreements will be handled. A structure holding one family company may need different governance from one managing several types of property in different jurisdictions. An existing or planned will raises a related but different succession question; use the Dubai wills route comparison to identify matters for coordinated legal advice.
RAK ICC requires a council of at least two members. A guardian’s role and whether one is required depend on the objects and applicable rules. Separate the people making day-to-day decisions from any oversight function, and confirm that each proposed person understands and accepts the role. Source: RAK ICC: foundation questions.
Incorporation does not by itself transfer a company shareholding or real estate title into the foundation. Review the transfer rules of each asset registry, existing financing conditions and the relevant tax position. Keep that implementation programme alongside the foundation registration so the final structure matches the original brief.
Agree the scope and responsibilities first, then track each submission and its supporting records.
Identify the intended beneficiaries or purposes, current ownership and objectives. Record the family and commercial issues that the structure should address.
Compare the foundation with other available arrangements. Obtain advice on the jurisdictions connected to the people and assets rather than relying on registration location alone.
Select the founder, council and any guardian arrangements. Decide how appointments, distributions, replacement office holders and reserved decisions should work.
Coordinate drafting of the charter and by-laws and assemble the identification file. Resolve inconsistent instructions before the application is signed.
Complete the registry application and respond to any additional enquiries. Verify the issued foundation particulars and retain the final constitutional documents.
Complete the separate asset transfers and establish decision, accounting and distribution records. Agree who maintains the file and handles annual administration.
Build the proposal around drafting, registry work, asset implementation and ongoing administration. Distinguish initial and recurring charges, professional coordination and any conditional third-party work.
| Cost component | What to account for |
|---|---|
| Registration and agent appointment | Identify registry charges, onboarding work and the continuing registered-agent and office arrangements within the written proposal. |
| Governance drafting | Price legal work according to the family, assets and complexity of decision-making provisions. Bespoke succession instructions can require more work than a standard application. |
| Conditional professional roles | Where council, guardian or other professional services are proposed, set out their authority, responsibilities and ongoing fees separately. |
| Asset-transfer costs | Allow for relevant registry, valuation, certification and financing-consent work. These costs depend on what is actually contributed after registration. |
| Ongoing financial administration | Budget for accounting records, professional reviews and administration. Confirm which regular tasks are covered and how exceptional transactions will be charged. |
Outline the outcome you need, any relevant dates and the preparation you have already completed.
Agree the governing instructions before registration, then plan each asset contribution separately. Unresolved family, title or financing questions can affect implementation.
The time needed to settle family instructions and governance is distinct from the registry review. Unresolved asset or beneficiary questions should be addressed before signing.
Completion depends on a consistent application and due-diligence file, together with any clarification requested through the registered agent.
Each asset transfer follows its own process. A property or financed shareholding can take longer to place into the structure than the foundation takes to register.
A clear handover makes the next renewal, transaction or change easier to manage.
Retain council decisions, supporting approvals and distribution records. Make the authority for a transaction clear to the people administering the assets.
Revisit the governance with qualified advisers when family arrangements, residence or asset ownership changes. Follow the governing documents for amendments and appointments.
Update the asset schedule as contributions and disposals occur. Agree how accounting records and evidence of ownership are maintained with the registered agent.
Need to discuss your own circumstances?
No. It has its own foundation governance and purposes rather than an ordinary shareholder structure. Review how its council and governing documents will administer the assets before choosing it.
The RAK ICC framework permits a corporate founder. Prepare the corporate entity’s authority and ownership records and obtain advice about the implications of that choice for the wider structure.
No. A separate transfer must be completed under the relevant asset registry’s rules. Confirm financing conditions, title requirements and transaction costs before assuming that a property can be contributed.
The 2025 consolidated Foundations Regulations permit exclusively charitable objects, but the registry’s public FAQ states that it does not register purely charitable foundations. Obtain written confirmation from RAK ICC and legal advice on the proposed objects and guardian requirements before proceeding.
Privacy does not remove identification or disclosure obligations. The registered agent and relevant authorities can require information about the people and arrangements involved; plan for a complete and accurate file.
No structure gives that result automatically. Its effect depends on governing documents, assets and the laws connected to the people involved. Take advice on those circumstances and keep the resulting implementation tasks documented.
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