An Incumbency Certificate for RAK ICC company, the UAE, or a certificate of full legal standing, is the special document which is issued by the company’s registered agent, who has done the registration of a foreign company. In fact, the certificate contains information about the shareholders and managers of the company. At the same time, the entrepreneurs can choose what exact information will be included in this certificate. Information only about the shareholders or only about the RAK ICC company management can be reflected here.
This certificate of Incumbency has no validity restrictions, however it may be requested by the competent authorities at certain time intervals. So, for example, banking institutions or counteragents of the company and business partners may request an Incumbency Certificate once a year.
The certificate is issued by the licensed registered agent in the UAE and includes the following information about the company:
- Full name of the legal entity;
- Date of registration / incorporation of the foreign company;
- Registration number;
- Information about the share capital
- Information about the composition of the company management;
- Information about the founders / shareholders of the company;
It should be noted that the certificate of incumbency will be mandatory for opening a corporate bank account for the RAK ICC company in almost all the international financial institutions.
