Experiences with Alliance Business Advisors

[ITlancer]

Hello everyone!

I am interested in starting an IT company in Dubai's FTZ. I don't need offices nor to employ anyone from UAE.
So I contacted Alliance Business Advisors (Opening Offshore Company Dubai, UAE | Alliance Business Advisors )
because I found their website with a lot of info about that, but I wanted some direct info.
So the info I got in the return was very promising, but I am not sure if I should trust them.

Here's a few interesting info I got:

- no taxes on income and dividends
- no restrictions and no taxes on repatriation of capital

The mandatory presence in UAE to maintain the residency status – 1 day every 180 days (permanent stay is not required).

Companies registered in UAE also have the following additional advantages:

- no mandatory requirement for submitting annual bookkeeping/audit
- no mandatory requirement for renting a physical office
- no mandatory requirement for paying share capital

In order to open any account (personal or corporate) in UAE, you need to incorporate a Free Zone company and get residency visa to become a resident (residency visa only possible through either a Free Zone company or property purchase), as this is the mandatory requirement in order to open a bank account in UAE.

Together with opening a bank account in Dubai , all expences are arround $10k for the first year and a bit less then $7k/year for years to come.

So did anyone have experience with this agents?
Are these info realistic?

Thanks in advance for any reply!

 

[Spinat]

I don't know them but check Google, check Trustpilot and anything else you can do before you are going to use them.

From first look they look like a BLOG which provides information - the design is from the beginning of the 00 and don't look very inspiring.

 

[WoWNull]

Are these info realistic?

yes.

for the agent idk we have a lot of such agents in uae, but now they are changing the rules so not sure how easy or hard to open for the price there is less try RAK or Fujira freezone dubai expensive.

 

[ITlancer]

Thank you for your replies and suggestions!

Can you maybe recommend some proven agency to help me start a company, so I don't have any unnecessary issues? (sorry if this is maybe against the rules of the forum!)

Also, can you tell me, for such a company, are the data of the founder and the employees private? If my home country asks for the tax and transaction details, will they be revealed?

Thanks!

 

[WoWNull]

Thank you for your replies and suggestions!

Can you maybe recommend some proven agency to help me start a company, so I don't have any unnecessary issues? (sorry if this is maybe against the rules of the forum!)

Also, can you tell me, for such a company, are the data of the founder and the employees private? If my home country asks for the tax and transaction details, will they be revealed?

Thanks!

In UAE?

yes they provide these details.


read this please

https://www.khaleejtimes.com/business/eu-removes-uae-from-tax-haven-black-list-1

 

[ITlancer]

Thanks @WoWNull !

UAE was something I ran into first when looking for a place to start a virtual company (I don't need an office and all the people I work with are working remotely).
Any other suggestion for a safe and stable place to do this?
Privacy is not a problem, I was just asking what is the situation in the UAE.

 

[WoWNull]

Thanks @WoWNull !

UAE was something I ran into first when looking for a place to start a virtual company (I don't need an office and all the people I work with are working remotely).
Any other suggestion for a safe and stable place to do this?
Privacy is not a problem, I was just asking what is the situation in the UAE.

Personally i run my own in USA and UK
But i will close the USA bcuz the banking issues, and other option i have is Estonia
Bot sure what is your requirements but for me it was to have legal entity with lowest cost to start even though i will pay taxes like in UJ around 19% but i was searching for law and legal entity to protect me

In UAE you will have high starting cost along with high renewal cost.

Read this if you are interesting
https://www.wamda.com/2019/09/hidden-costs-starting-uae
For me living in UAE is awesome but it's not for business unless you have something that cover you. For startup and new business its totally not that easy.

 

[ITlancer]

Cool, thanks very much for the info @WoWNull !