Recent content by Offshore13

I wouldn't worry about being on a grey list; that's more of an EU standard that doesn't really affect most people. If you're from the EU, UK, or any non-greylist country, you shouldn't have any trouble opening bank accounts or doing business. It's not worth it to go for the cheapest option; I've...

As far as I know for Belize and Marshall Islands you need to fill ESR only and keep clean records of your accounts as they can audit if they want to.

Have a look at Ajman Freezone, they are reliable and you can deal directly with the government. It will cost you around 3-4k for setup and yearly the same. If you want a residence, which I recommend its a few hundred more. I just read Seychelles is off the EU blacklist, not that I care what...

10k for late VAT registration and 1k for late quarterly VAT filling. I thought its super relaxed like 10 years ago with a Belize company or the Marshall Islands - Now I am learning every day and still miss some updates, that's why you need professional help from a local agency.

11k AED and apparently that is nothing compared to what others paid

Please do yourself a favor and get an approved and reliable accountant, I learned it the hard way and paid the fine...

I have opened small entities in a few different jurisdictions over the past 10 years and now my company is based in the UAE 100% including residency for employees etc. Personally and from what I have seen for small to mid-size operations the best solution so far 0% corporate tax and no income...

Thanks Fred for your reply!

Hi, if I understand correctly there are only a few companies (as below) who have to do the ESR report? Its a bit unclear, I don't trust any accountant I want to be 100% sure as 20k or 50k AED is quite a lot for penalty Banking Business Insurance Business Investment Fund Management Business...

Thanks for the explanation ;)

Hi all :) I just received a letter from my ex offshore UK bank in Gibraltar and it said that if I dont provide any TAX infos they will send a request to the authorities under which the adrress of the account was. A little context, the bank throw me out in October after 15 years because of the...

Maybe I should rephrase the question. As a Freezone company do we have to fill out the UBO form as a sole owner with 100% of shares? As I have read that for now only mainland companies have to fill this out. I mean dont have a problem filling it out just want to know context and/or any who has...

Does anyone know about the UOB requirements for a company in the UAE? I am wondering why they would ask for additional information when we've already provided so much to open the entity. With everything changing constantly, it feels like a race to keep up with the latest information and avoid...

As far as I know, after speaking with the accountancy firm I am working with they have mentioned that Freezone companies don't have to register now with the corporate Taxes on the UAE Tax website from June 2023. They are beginning to open the registration but for now Greezones are exempted if...

Yes Thanks I went for WIO when they were still in Beta