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Move your Company to the UAE (RAK, Dubai)

RAK (UAE) Welcomes Applications to Re-Domicile Companies From Other Countries to the UAE

The UAE (RAK Free Zone) in a pioneering move has just put in place legislation and procedures and now the Registrar is inviting applications from Companies registered outside the UAE (Cyprus, Malta, UK, BVI, Seychelles and any other country) to re-domicile / continue (transfer their seat) their operations in the UAE.

So it is NOW possible – instead of ‘closing’ your existing company to actually ‘move’ and continue operating your company to/from the UAE as a UAE company without any other changes to its legal status as a corporate entity and open bank accounts in the UAE.

Fees & Costs

Redomiciliation and bank accounts – $9,750

Annual Fees & Government Costs – $2750

Please find below the procedure required for Re-domiciliation.

Before you proceed, please do check to ensure that the jurisdiction in which the Company is established has provision for allowing redomiciliation/transfer out of companies.

Some jurisdictions do not permit transfer out/redomiciliation of companies.

Apart from the checklist we require the following documents to be notarised:

1. Shareholders resolution stating the decision on transfer of domicile and approving the new version of company’s MOA/AOA

2. Affidavit made by the director (authorized by the Board of directors) /all directors of the foreign company

FYI – Affidavit to include the following:

  • Current company name of the foreign company and the name under which the company will continue in RAKFTZ
  • Country of jurisdiction where the foreign company is registered
  • Date of registration of the foreign company
  • Approval of the new version of Company’s MOA/AOA
  • Confirming the financial good standing and solvency of the foreign company
  • That the foreign company gave an official notice according to the laws of the country of jurisdiction as to its decision to be re-domiciled
  • That no criminal or administrative procedures have been commenced against the foreign company for infringement of the law of the country of registration

3. If the foreign company’s shareholder is a corporate shareholder then we require corporate shareholders resolution on such decision of Re-Domiciliation

*If one of the director(s) / shareholder(s) represents the corporate shareholder then we require – Members Resolution on appointing authorized signatory for the corporate shareholder

4. If the signing of new MOA/AOA is not witnessed by the registered agent then these documents are to be notarised

TRANSFER OF DOMICILE – Transfer In – CHECKLIST
LIST OF DOCUMENTS
Continuation – Transfer In
Documents Required
1.Consent from Jurisdiction to re-domicile to RAK

2. Application for Consent – duly completed

3. Certified/Notarized Resolution of the Shareholders consenting for the transfer of domicile of the company

Notarised Original
4. Certificate of Incorporation/Registration of the company

Attested by the agent(Affix stamp & signature)
5. Certificate of Good Standing of the company

Attested by the agent
6. Certificate of Incumbency

Attested by the agent
7. Memorandum & Articles of Association of the company

Attested by the agent
8. List of Members(Shareholders)/Directors of the company

Current dated attested by the Registrar at the seat of incorporation
9. Due Diligence Documents for the Shareholder(s)

  • Passport copy, CV, Bank Reference, Utility Bill

Not older than 3 months
10. Passport copy of the Director(s) & Secretary

11. New set of Continued Memorandum & Articles of Association- Directors resolution stating that the proposed new M&A have been approved by majority of Directors

Witnessed and attested by the agent or if not witnessed by agent then requires to be notarised
12. A Certificate (Schedule 5) signed by Registered Agent

  • Template provided SCHEDULE ONE: REGISTERED AGENT’S CERTIFICATE of the IC Transfer of Domicile Regulations 2009Page 13

Template is included in the regulations
13. Copy of Notice to all Shareholders – 14 days prior to application (if applicable)

14. Written Consent for application from holders if charges (if applicable)

15. Certification of solvency (signed by the Directors) OR Audited Accounts (by Company’s auditors)- Document stating that the Company is not for any reason disqualified from continuing in RAK

16. Evidence of Advertising:

  • UAE – 1 English newspaper & 1 Arabic newspaper
  • 1 newspaper in country from current jurisdiction
  • Template of Notice provided in SCHEDULE THREE: NEWSPAPER NOTICE FOR CONTINUATION IN THE ZONE of the IC Transfer of Domicile Regulations 2009 – Page 14

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