Unlimited Company

Unlimited Company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint, several and non-limited obligation to meet any insufficiency in the assets of the company to enable settlement of any outstanding financial liability in the event of the company’s formal liquidation.

The joint, several and non-limited liability of the members or shareholders of the company to meet any insufficiency in the assets of the company (to settle its outstanding liabilities if any exist) applies only upon the formal liquidation of the company. Therefore, prior to any such formal liquidation of the company, any creditors or security holders of the company may have recourse only to the assets of the company, not those of its members or shareholders.

RAK ICC Website Updates
Step Asia 2019
RAK ICC Updates - Step Asia 2019
November 11, 2019
Meet The Registry Event – 23 October 2019
RAK ICC Updates - Meet The Registry Event – 23 October 2019
October 24, 2019
RAK ICC Updates - RAK ICC Facilitates International Trade and Commerce 1.How RAK ICC is positioning itself as a premium international jurisdiction? The first steps
September 30, 2019
RAK ICC Updates - INTAX CONFERENCE MOSCOW 2019
September 24, 2019
News & alerts
RAK ICC Updates - The Ras Al Khaimah-based corporate registry, RAK ICC, has unveiled three new board members, tasked with spearheading the organisation’s
September 11, 2019