Embarking on the journey to register a RAK ICC Foundation in the UAE offers a strategic path for asset protection and succession planning. These Foundations stand out as independent corporate entities, holding a distinct legal personality, separate from their founders.
RAK ICC Foundations serve as powerful tools for individuals seeking to safeguard their assets while simultaneously planning for the future. Through a robust governance structure, they maintain control over assets during and beyond the lifetime of the founder. By separating liability from the founder, these entities ensure a secure and controlled management of assets.
The process to establish a RAK ICC Foundation is straightforward and involves three simple steps. Firstly, one selects their desired package and places an order for the setup. Following this, the necessary incorporation documents are prepared and submitted to RAK ICC. Upon submission, the Foundation is swiftly established within three working days.
These Foundations are managed by a council responsible for administering the assets and fulfilling the objectives set forth by the founder. A unique feature of RAK ICC Foundations is the ability for the founder to act as both the council of members and the guardian, offering a streamlined and personalized management approach.
In addition, RAK ICC Foundations provide various benefits including asset protection and succession planning, which are critical for those looking to ensure their legacy endures. This distinct legal personality not only separates the liability of the founders but also allows for a controlled administration of assets.
The registration process is enhanced by the availability of legal assistance and the streamlined support systems provided. By choosing a trusted service with a proven track record, individuals can seamlessly navigate the complexities of establishment and management.
Registering a RAK ICC Foundation is not just a legal formality but a strategic move towards securing one’s financial future and legacy. With the right guidance and streamlined processes, establishing a Foundation in the UAE can be both efficient and effective, offering peace of mind and control over one’s assets.
Source: Legalinz
