RAK boosts appeal as private wealth hub

As Al Khaimah is undergoing a transition as it expands from a tradiional offshore registry into a broader private wealth hub, reflecting the emirate’s growing role in structuring private and family wealth.

- Azza AlAli [e-mail]

RAK ICC now provides many of the international structuring tools commonly used in global wealth planning.

(FILE PHOTO)

Sandra Marie Louw, CEO at RAK International Corporate Centre, told Khaleej Timesin an interview at the Ras Al Khaimah Investment & Business Summit, the change comes as more high-net-worth families establish a presence in Ras Al Khaimah, driving demand for structured asset protection, succession planning and regulated corporate solutions.

Louw explained that RAK ICC now provides many of the international structuring tools commonly used in global wealth planning, including foundations, holding companies and international business companies.

However, she said the organisation is increasingly focusing on the needs of individual business owners and family enterprises rather than institutional financial clients.

The aim, she added, is to make estate and wealth planning accessible to entrepreneurs preparing for business exits, family transitions or the handover of assets to the next generation.