Recent content by Cristero

In my case, I'm pretty far away from any reasonable company revenue threshold I think

Thanks for the response @madihrb. So no audit for now for a company that is not a qualifying free zone entity. The small business relief means I don't pay CIT mainly, doesn't it?

Sorry to hijack a little this thread, but this seems to be the most active thread on the current situation in the UAE. As many of you, I'm trying to understand if it's still worth it to keep an entity in a free zone or not. And in my case it's not a matter of CIT (since I don't go above 3M AED...

Where do they say there's no mandatory accounting and auditing at the end of the year though? And it seems they are talking only about resident people, which doesn't apply to people without a visa and Emirates ID

Was this confirmed by an accountant? I wouldn't be surprised if the accountants I spoke to would "forget" about it

I don't see mention it anymore, but as a simple structure, HK company with an offshore status still has 0% VAT and 0% CIT. Is it because of the challenge to open a bank account?

Average is 5k euro per year all included. Cheapest I've found for a company that processes few transactions per month is 1.6k euro per year.

As many of you, I'm trying to understand the implications of the new CIT for my company registered in a free zone in UAE. Since I don't trust any agency or free zone office trying to get your money, I started consulting with different accountants, who told me a different story than what the...

Hi @MiddleEuroAsia would that scheme work with a UK LLP instead of a US LLC? Basically me and my FZCO will be the shareholders of the UK LLP and in that way I would be able to get a business bank account in Europe and decent rates for payment processing. Stripe and PayPal are a total ripoff for...

Same scheme for me, waiting for confirmation of approval of receiving accounts and then I'll start transferring, but as you said fees at 2% are insane.

yes they will onboard me, but I still have to travel to the UAE and they only have a AED account. My business is an e-commerce selling in Europe, so I'm looking at least for a platform like Payoneer to get paid in euro, leave them there in euro and then eventually withdraw to the bank in UAE in...

Hi everyone, did anybody manage to setup payoneer with a UAE free zone company? I did the application with them and when asked for the bank info for the withdrawal, I gave them the IBAN of the bank for my first business. If approved, I was wondering if it would be possible to basically pay...

Hey Andy, can you please DM me? I have a couple of questions for you. Thanks!

I never applied for visa and residency because I didn't need them. Never got an Emirates ID, neither a visa. I know it sounds strange

There is no risk of crossing the threshold, I'm way below it, since it's just a one man company. I was asking because I thought I read that for non UAE resident you needed to apply for VAT anyway.