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Best setup to live in Dubai without doing business?

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Feb 7, 2020
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I'm looking to set up some sort of a an offshore/freezone company in the UAE or get a freelance visa which will allow me to live in the UAE and do personal banking there but i don't really need the company to do any actual work as my setups in other countries are fine for now.

So my question is what would be the best set up in the UAE purely from a residence visa perspective? I need to to be easy enough to open a personal bank accounts and live a normal life as a resident without having to jump through hoops.
 
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#2
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#3
hirenshukla2017 said:
1)Retire in Dubai
www.visitdubai.com/en/sc7/retire-in-dubai

2)Work remotely from Dubai
www.visitdubai.com/en/business-in-dubai/dubai-for-business/work-remotely-from-dubai

What are your profile ,age ,profession ?

You can contact visitdubai.com website contact list they will help which will be best for you.
They are very helpful.

If you are young best will be remote worker visa.
And
If you are 55 year plus Retire visa will be the best option.
Click to expand...
Thanks that's super helpful! I'm 30 and yes technically i would be a remote worker so that might work best for me. I'll look into this
 
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#4
hirenshukla2017 said:
1)Retire in Dubai
www.visitdubai.com/en/sc7/retire-in-dubai

2)Work remotely from Dubai
www.visitdubai.com/en/business-in-dubai/dubai-for-business/work-remotely-from-dubai

What are your profile ,age ,profession ?

You can contact visitdubai.com website contact list they will help which will be best for you.
They are very helpful.

If you are young best will be remote worker visa.
And
If you are 55 year plus Retire visa will be the best option.
Click to expand...
Actually, i just had a read-through of the ^ remote work visa. Couple of things that won't work for me are its for 1 year only (i'm looking for longer term) and the i have to show a monthly income of $5000 which i don't have officially.

In that case maybe a freezone company is a better option?
 
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#6
hirenshukla2017 said:
Yes, freezone company is one of the fastest and best.
Freelance Visa will be cheaper option.

gofreelance.ae
Click to expand...
I am also looking into this now as biz has been ok recently.

Anyone knows a good incorporation agent and fees for DMCC?
Are they ok with dormant / low activity business?

Or does DMCC handle it well themselves.
DMCC has prestige so that seems good in this part of the world.
 
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#7
Dear ,
Do not pay any agent you can directly go through their website .
Submit your application to their website .

www.dmcc.ae
dic.ae (Dubai Internet city )
creativezone.ae

For DMCC

  1. Business activity: (attached is the list of activities provided by DMCC)
2. How many shareholders (Individuals/Corporates):

3. Residency visa requirements required the first year:

4. Property/office solution you are interested in:

DMCC is currently running new promotions such as the below:

  • Up to 50% reduction on the total company set up fee, along with a Flexi Desk for 1 year
  • Flexible payment options for new DMCC Business Centre tenants
  • Complete digital process for business set up from the comfort of your home

Dubai internet city

Initial process (stage 1: No cost, approval on business plan, security clearance, & purposed name of the company)



To start off the procedures, you will need to complete and email me the below mentioned documents:

  1. Application for License (form attached)
  2. Business Plan (as per template)
  3. Passport copies for all the shareholder(s), director(s) and manager
  4. Select an activity for the company (from the list attached)


After obtaining the necessary approvals, I’ll be sending you the legal documents to complete, as discussed we usually send the legal documents after the initial approval is granted.



Stage 2- Legal documents (payments to be made after the legal documents submission)



After the initial approval is granted we send a set of legal documents (templates) as per the company shareholding structure to be completed. Its recommended to complete the legal documents only after the initial approval is granted.



Costs to incorporate:



License fee: AED 15,020 (annual)

Registration fee: AED 3,520 (one time)

Share capital: AED 10,000 (minimum – refundable/ Not applicable for Branch of a Foreign company).

Lease fee: Depends on the space (80 sqft = grants you 1 visa)



Establishment card: AED 2,000 (annual)

Employment visa: AED 3,361.87 per employee (3 years) outside the country/ AED 4,991.87 inside the country

Visa deposit: AED 2,500 per employee



For the lease, please find the below:



** Minimum option is AED 25,000 which is a shared desk at the business center which grants you two visas.
 

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#8
hirenshukla2017 said:
Dear ,
Do not pay any agent you can directly go through their website .
Submit your application to their website .

www.dmcc.ae
dic.ae (Dubai Internet city )
creativezone.ae

For DMCC

  1. Business activity: (attached is the list of activities provided by DMCC)
2. How many shareholders (Individuals/Corporates):

3. Residency visa requirements required the first year:

4. Property/office solution you are interested in:

DMCC is currently running new promotions such as the below:

  • Up to 50% reduction on the total company set up fee, along with a Flexi Desk for 1 year
  • Flexible payment options for new DMCC Business Centre tenants
  • Complete digital process for business set up from the comfort of your home

Dubai internet city

Initial process (stage 1: No cost, approval on business plan, security clearance, & purposed name of the company)



To start off the procedures, you will need to complete and email me the below mentioned documents:

  1. Application for License (form attached)
  2. Business Plan (as per template)
  3. Passport copies for all the shareholder(s), director(s) and manager
  4. Select an activity for the company (from the list attached)


After obtaining the necessary approvals, I’ll be sending you the legal documents to complete, as discussed we usually send the legal documents after the initial approval is granted.



Stage 2- Legal documents (payments to be made after the legal documents submission)



After the initial approval is granted we send a set of legal documents (templates) as per the company shareholding structure to be completed. Its recommended to complete the legal documents only after the initial approval is granted.



Costs to incorporate:



License fee: AED 15,020 (annual)

Registration fee: AED 3,520 (one time)

Share capital: AED 10,000 (minimum – refundable/ Not applicable for Branch of a Foreign company).

Lease fee: Depends on the space (80 sqft = grants you 1 visa)



Establishment card: AED 2,000 (annual)

Employment visa: AED 3,361.87 per employee (3 years) outside the country/ AED 4,991.87 inside the country

Visa deposit: AED 2,500 per employee



For the lease, please find the below:



** Minimum option is AED 25,000 which is a shared desk at the business center which grants you two visas.
Click to expand...
Nice thanks for this detailed info.

With dubai internet city, are bank account openings possible?
I assume with dmcc no problems, whereas I read RAK and others it is mostly impossible now.
 
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#9
If business is good and genuine , all paper work sounds good than there is no problem.
In Dubai internet city
Big name are there so there will be no issue of bank account .
 
#11
YSB said:
Actually, i just had a read-through of the ^ remote work visa. Couple of things that won't work for me are its for 1 year only (i'm looking for longer term) and the i have to show a monthly income of $5000 which i don't have officially.

In that case maybe a freezone company is a better option?
Click to expand...
Free Zone Entity is better option. Chose cheaper freezones (not Dubai or Abu Dhabi) which may cost you 8000$/year (3-year Visa). Rent an apartment and use information to apply for personal bank account like Mashreq Neo easily.
 
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#17
Yes. Cheap FreeZone is difficult to open business account, but the topic owner is asking about residence visa and personal account only.
For business account, bank KYC is always difficult and you need legit documents of your previous/current business to prove. Start with small banks and run accounts for few months before approaching bigger banks. Banks will challenge you with questions about your transactions, Invoices, PO, BL etc. So prepare well
 
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#18
linhtinhforfree said:
S

Sharjah, Ajman, UAQ... If you don't plan to open business account, there may be no need to rent flexi desk which costs ~15 AED/year. So register Free Zone Entity, apply for 3-year Visa, rent an apartment to live in Dubai and apply for personal account.
Click to expand...
Personal account should be quite easy to open if you have the residence permit?
 
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#20
linhtinhforfree said:
Yes, after having Emirate ID and your address at UAE with utility bill to prove (even Banks may not need it). Thing will be very easy
Click to expand...
What do you think, how easy will it be, just a walk into the bank and that's it?
 
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