RAK ICC Special Purpose Vehicle (SPV)

RAK ICC Special Purpose Vehicles (SPV)

RAK ICC allows for the formation and registration of Special Purpose Vehicles as one of the corporate structures available to businesses within its jurisdiction.

A Special Purpose Vehicle (SPV) is a legal entity that is created for a specific purpose or project. It is often used to isolate and protect assets or liabilities associated with a particular venture or investment. SPVs are commonly utilised for various purposes such as securitisation transactions, joint ventures, holding assets, raising funds, or facilitating complex financial arrangements.

RAK ICC SPVs provide benefits such as:

1. Limited Liability: The SPV structure allows for limited liability, meaning that the liability of the SPV is generally limited to its assets, and the personal assets of the shareholders or directors are shielded from the SPV's liabilities.
2. Asset Protection: By segregating specific assets or activities within an SPV, businesses can mitigate risk and protect their core assets from potential liabilities.
3. Structured Transactions: RAK ICC SPVs facilitate structured transactions and financial arrangements by providing a separate legal entity that can hold, manage, and transfer assets, restructure debt, raise capital or rights related to a specific project or investment.
4. Confidentiality: RAK ICC offers a level of confidentiality and privacy for SPVs, allowing businesses to maintain discretion regarding their corporate structure and operations.

Setting up an SPV in RAK ICC offers a relatively straightforward incorporation process. With Sovereign PPGs assistance, we can streamline the set-up process for our clients. RAK ICC allows for a simple migration process from many global jurisdictions.

Process to set up a RAK ICC SPV

Step 1 – Contact a registered agent such as Sovereign PPG to assist with providing an office address. Sovereign PPG is registered on the RAK ICC website portal under name PPG Corporate Services.

Step 2 – Prepare the required documentation as per the RAK ICC checklist which Sovereign PPG will provide

Step 3 – Submit the application

Step 4 – Assuming all documentation is approved, you will receive your certificate of incorporation