Recent content by Nickster

Sorry, I can't recommend anyone. They will all know as much as anyone else who reads the government guidance. But, they'll also have a major incentive to sell you their services, with pretty much no come back on them for misinformation. Best to read up for yourself and keep your ear to the...

I am constantly hearing about people who's agents are misinforming them., so you're not alone. It's for companies in the UAE. Nothing to do with individuals (who are still on 0% income tax).

The link I gave is from the government site

If you mean for Dubai Freezones then there is no auditing requirement unless the company is one of the qualifying activities (0% tax). And, if your revenue (not profit) is under 3 million AED then you can report on a cash basis only, so no real accounting necessary, only keeping proof of...

Wrong. Please tell me you are not advising clients of this.

Looks like you can opt for small business relief if your turnover (not profit) is under 3 million AED. Plus, very simplified accounting and no auditing by the looks of it. This includes Freezone businesses...

Does anyone know the approximate costs for both statutory accounting and auditing services for a Dubai Freezone company for a minimal number of transactions?

Do you have a family? This is an important aspect. I would definitely look at Dubai as an option. I did pretty much the same and like it so much I ended up staying (surprising). You can always come over, re-structure, and prep the business for an exit (there are a ton of people looking to...

Exactly. I'm not wanting to give anyone specific tax advice. That would be for them to decide upon and get appropriate qualified advice.

How would they check?

That would be quite unlikely for a digital only product/service. But I guess it would depend on how careful/reckless the person is.

I would assume that the EU shareholder may not be an employee of the company and only receive dividends passively. If a salary/wages are needed then perhaps they can use a consultancy company in the EU country and the company can invoice. I'm sure there would be different options available.

I am a successful Solo-preneur living in Dubai and I work through my Freezone company, that only deals with entities outside of Dubai and all of my business is online (Saas, ecom etc.). So, as far as I am aware this should be totally exempt under the new corporate tax regime being introduced...