Anyone with experience of a UAE FZ company?

Discussion in 'Offshore Business Discussion' started by kekmaw, Oct 15, 2016.

  1. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    I tried both places for some month ago, US was declined right away. I made some research on the more shady options to get a US account but don't wanted to proceed..

    The UK requires a personal visit. I have a lawyer in the UK who took me to Barclays bank London where I got an account which I'm not using much only for testing purpose.
  2. kekmaw

    kekmaw Member

    Good to know, thank you.

    Did you contact the US banks directly or via an agent? Because I have a agent that claims he can get a remote bank opening for me in the US but another guy that helps me out is skeptical to it.

    If I would visit the US, would it be easy then? My CPA should get back to me today or tomorrow on which route to go though. The privacy of a companyin Wyoming is very appealing otherwise a UK company might had been better. Will see.
  3. Admin

    Admin Forum Moderator The Forum Cleaner

    Forget the US focus on UK just consider personal visit. Otherwise you need some service like stripe.com/atlas that claim they can open real USA bank accounts for their clients.
  4. Admin

    Admin Forum Moderator The Forum Cleaner

    The Internet is full if people like your "guy" I have tried many services, many of your guys! and many alternatives to get a US bank account 0 result only huge expenses so far!
  5. kekmaw

    kekmaw Member

    Thanks, that's very good knowledge to have.

    I don't mind visiting the US either though to open a bank account in person if it can be done for a foreigner from a reputable country.
  6. suzy

    suzy Corporate Services Mentor Group Sponsor Entrepreneur Business Angel

    Try this method. Read it on another forum but don't believe this to be true at all!!

    auric likes this.
  7. khan

    khan Corporate Services Business Angel

    This is a pretty bad situation that they brought you into. Are you still dealing with these ash&/ or do you found someone else to help you?

    No offshore company agent should bring their customers into such a situation where the police needs to be involved. As a customer in this situation you get stigmatized one the authorities are involved they will forever have a close eye on you:eek:
    auric likes this.
  8. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    I simply don't believe any longer that someone is able to help you open a US bank account unless you are an US citizens, only possible options I have seen and read about is stripe.com/atlas but there are strings attached.
  9. kekmaw

    kekmaw Member

    Currently in Dubai setting everything up. Will have a update on the US bank account within a month I asume but I have paid a agent to help me out with this.
    Everything in Dubai should be done within a couple of weeks then I just need to wait for the US bank account. I will write a little summary about everything when it's done.
    auric likes this.
  10. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    Thank you for the update, please let us know how you did in details. It's a nice time of the year to be in Dubai :)
  11. JimBeam

    JimBeam New Member

    What strings attached? Any details?

    Do you have any estimate or figure how much the UAE formation did cost you in the end?
  12. I'mRobot

    I'mRobot Offshore Agent Entrepreneur

    Interesting, would like to know a status too :) ?
  13. kekmaw

    kekmaw Member

    I will do a full update on this once it's all done.
    I thought it should all be up and going by now but it's not for various reasons.

    Estimated costs $12.000 (setup + first year license fee)
  14. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    Wow, you are serious with your business when you spend that much money on the setup! Will be waiting to read your review / update to this thread thu&¤#
  15. kekmaw

    kekmaw Member

    Haha yeah, anyone doing business should be serious enough to put up a good structure, now more than ever. I'm not sure about your home countries but in mine there is a total witch hunt going on for people who are escaping tax. Every day I read something in the news about it and it's not going to get better. While having something cheap with a bad reputation like Belize would work the same in terms of company structure, I would have a way harder time getting good banks but most important of all was the visa. I needed a visa somewhere and become a tax payer in another country than my own. This is not the case for everyone but that is a law from my country which makes me tax liable back there unless I have tax residency in another country.
    auric likes this.
  16. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    Great to share your information, thanks. Actually it make sense to get a VISA for another country to avoid to pay tax locally. However, is that not requiring you to stay out of your own country for at least 181 days?
  17. kekmaw

    kekmaw Member

    Yes I'm required to stay outside of my home country for at least 6 months of the year + some other stuff in order to not be tax liable back home.
    But, if I don't stay outside of my home country for 6 months of the year and wanted to do offshore tax planning... I would likely have to break laws or do even more expensive solutions in order to be covered. So, in most cases, if you want to do everything legally and be free like a bird, you will probably have to get residency in another country and not spend to much time back home.

    Personally, I don't even want to stay in my hone country for more than 6 months a year so works fine! It's about exploring the world guys! :)
    auric likes this.
  18. auric

    auric Offshore Agent Mentor Group Sponsor Business Angel

    That's sounds like the perfect setup for your situation. People with family and other obligations at home will not be able to copy you unless they give up what they have. :)
  19. stoddart

    stoddart New Member


    Anyone try to open in dubai/uae ???

    Thank guys.
  20. kekmaw

    kekmaw Member

    I have a FZE in a UAE yeah. Pretty easy to setup if you go with a agent to help you... also helps you get introduced to banks etc. If you want a offshore company, it's pretty hard to get a bank account from what I've heard... unless you know someone.
    MikkyHendrix likes this.