Private foundation: RAK ICC: sourced answers
4 answers to specific questions — each with a verbatim quote from an official source and a link to it.
Every answer is checked against a verbatim quote from a stored copy of its source and has passed an independent review. This is reference information, not legal advice: rules change, and the outcome depends on your circumstances.
Legal form in a country
What is the minimum capital (minimum endowment) on formation of the structure
USD 100
«26. Minimum initial capital (1) For the purpose of the registration of a Foundation, the Charter must require the Foundation to have initial capital with a value of 100 US dollars or its equivalent in any other currency. (2) The initial capital may comprise of the Property of the Foundation and may be provided by way of gift or for valuable consideration. (3) Following the endowment of the initial capital, further Property may be endowed upon the Foundation by any person if the Charter so permits.»
Source: rakicc.com · source copy as of 2026-10-03
What is the minimum number of members of the governing body (directors, council)
Council of 2 or more
2 or more
«17. The Council (1) The Council shall comprise at least two (2) members. A Founder or a body corporate may be appointed as a member of the Council. (2) The Council shall carry out the objects of the Foundation and administer its Property. (3) A member of the Council: (a) must be so named in the Register; (b) must ensure that the Council keeps accurate Accounting Records for the Foundation; (c) must comply with the provisions of these Regulations, the Charter and By-laws. (d) act honestly and in good faith with a view to the best interests of the Foundation; (e) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances; and (f) declare any interest in a transaction of the Foundation at any Council meeting at which such transaction is considered. (4) A person must not be appointed as a member of a Council, or be so referred to in the Register, unless he has consented in writing to being a member of the Council. (5) The appointment of a person as a member of a Council is void and will have no effect if that person is also a Guardian of the Foundation. (6) The duty under Regulation 17(4) is fiduciary in nature. …»
Source: rakicc.com · source copy as of 2026-10-03
Which statute (act) establishes the legal form
Foundations Regulations 2019, amended 2025
«Consolidated text RAK ICC Foundations Regulations 2019 as amended on 31 July 2025 by RAK ICC Foundations Regulations 2019, Amendments 2025 RAS AL KHAIMAH INTERNATIONAL CORPORATE CENTRE GOVERNMENT OF RAS AL KHAIMAH RAK ICC FOUNDATIONS REGULATIONS 2019 Consolidated text TABLE OF CONTENTS TABLE OF CONTENTS.................................................»
Source: rakicc.com · source copy as of 2026-10-03
Is a local registered agent (registered office with a licensed provider) mandatory
registered agent mandatory (Reg. 25)
«25. The Registered Agent (1) A Foundation must have a Registered Agent. (2) The Registered Agent of a Foundation: (a) must be appointed in accordance with these Regulations; and (b) has, in respect of the Foundation, the functions specified in these Regulations and the By- laws. (3) On the establishment of a Foundation, the proposed Registered Agent named in the Charter becomes the Registered Agent of the Foundation. (4) Details of any change of the Registered Agent must be provided to the Registrar within thirty (30) days of the occurrence of the change. A Foundation which fails to comply with this requirement is liable to a fine, not exceeding level 2. (5) A Foundation may not have more than one Registered Agent at any time.»
Source: rakicc.com · source copy as of 2026-10-03
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