A RAK ICC Foundation is a corporate body created with a legal personality separate from that of its Founder(s) registered at RAK ICC. The Foundation acts through its council to administer its assets and carry out its objects.
What is a Foundation used for?
- Enhanced succession planning and asset protection
- Provide a robust governance structure
- Guardian oversight
- Distinct legal personality that separates liability whilst maintaining control of assets and have perpetual existence after the lifetime of the Founder
RAK ICC Foundation Advantages
- Perpetual concept
- Flexibility with beneficial class