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A new Dubai Instant company License ??
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The only reason why you need to go to Fujairah is to convert the driving license, but it’s valid for 10 years. I also go to Fujairah to renew my kids residence visas, simply because it costs me few thousands dirhams less doing it in person vs through the freezone visa service. There are no queues in Fujairah. I leave at 8am and I am back 2pm - once every 3 years not an issue.
So at this point what would be the cheapest option in Dubai?
As far as I know most free zones in Dubai are unreasonably more expensive than those in other emirates....
As far as I know most free zones in Dubai are unreasonably more expensive than those in other emirates....
One time setup cost for Company with 1 Visa and all the costs for the Visa application, Medical Test and Emiates ID will be around 7.000 EUR max. - yearly running costs 4.000 EUR max.
Keep in mind that especially when it comes to financial institutions outside UAE it really depends where do you have incorporated - beside of what was already mentioned here before.
CIM Bank for example only opens for Dubai and Abu Dhabi companies in 2021.
Worth mentioning, CIM will also require to have real economical substance in UAE (with real office, etc).
Maybe we are partnered with different financial institutions, but our clients do not face any issues when they request accounts with their UAE entities that is not necessarily Dubai.
As I mentioned before, the only advantage I can see is having Dubai entity if you plan to have actual business locally.
Yes that's right and as there is pretty much office space available in Dubai and 99% of our clients intend to live in Dubai it just makes sence in the bigger picture no matter if to the banks or to the brokers to have the company in Dubai as well.
I get your point and don't want to start an offense - as you can see here in the thread the opinions go in different directions even from the members living here in Dubai.
Some in UAE, most - outside.
With UAE banks most important is whether you have a real office (in any Emirate) and how much money you run. Banks, such as Mashreq, are easier, and won't care about that at all. But you probably know that.
I assumed soSome in UAE, most - outside.
With UAE banks most important is whether you have a real office (in any Emirate) and how much money you run. Banks, such as Mashreq, are easier, and won't care about that at all. But you probably know that.
, to be honest when clients are not prepared to pay for substance or forfil residency requirements I go outside of the UAE.Without residency then definitely an outside bank but that just becomes a pain in the butt.
f**k CIM bunch of clowns!!!!!!
Where the pain comes from? We use both options for some of our companies and don't face any issues.
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I doubt this is possible. I do generally agree that it makes better sense these days to incorporate in Dubai vs in smaller Emirates, not only because of banks, Dubai residence etc, also because of political situation, where all other 6 Emirates depend on Abu Dhabi immigration control policy (including foreign nationals quota) and foreign travel policy (ICA) vs Dubai (GDRFA).
However realistically speaking the running costs of proper business of €4000 a year could may relate to annual renewal of trade license only. Any basic accounting package which includes bookkeeping and VAT reporting is at least AED 12.000 per annum (these are standard market rates). That's already €7000. Then you have to add audited accounts (surely at least AED 1000+), rental office if required for the substance, ESR advise and filling etc. Legal fees for compliance review and ESR filling for very basic setups can easily reach over AED 4000.
Worth mentioning, if you run an international business, your goal is to have no audit requirements for accounting. It will save time and money. For example, Ajman Free Economic Zone.
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To better understand:
Which is the cheapest Emirates installment to get a resident Visa (not just for tax purpose but also to visit and stay in Dubai for a few months - EU passport)? With the Ajman Free Economic Zone can I get a Visa to stay in Dubai? Do you have an idea about costs for setup and a visa?
Yes, with Ajman FZE you can also apply for a UAE visa and Emirati ID. You can freely live (like many others do) in Dubai with such a visa.
Send me an email so we could schedule a complimentary call. I will invite my partner, who is a lawyer and international tax advisor. Both we will answer any of your questions.
Just clients who want a Rolls Royce for Nissan Micra money.
Visa is valid throughout the UAE. Many guys have Ajman, RAK, Sharjah and Fujierah companies and visa's but live in Dubai.
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