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UK Ltd with emi bank account

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JustAnotherNomad

Mentor Group Gold
@JustAnotherNomad Sounds good for the freelancer deal with a « business name ». Do you know which Emirates allow that ?

Ajman, probably others as well.
Just be aware that business banking in the UAE can be difficult/impossible if you don’t have your own office (flexi desk). But you could probably just bank elsewhere ( EMI) and only use a personal bank account in the UAE.
There are also mainland companies offering “freelancer visas”, but that’s not the same thing. They hire you as an employee, so you get an employee visa and need your “employer’s” approval for everything. In the freezones, you should usually get an investor visa, so you’re your own boss. But of course you’re not allowed to do business with UAE customers in the freezones, so if you want that, you need to get a mainland visa. I’m not sure if it’s legal to circumvent that buy using an offshore company if the work is done in the UAE, probably not. If you work for UAE customers from outside the UAE, I guess it would be fine.
 

Moulaga

New member
Sounds good! Thank you.
So with the freelance licence and visa, you get the residency card/ID. So for banking/ EMI you are UAE resident (no CRS reporting)..

Can I still live in Morocco (and go once each 6 months to UAE) and do some (little) transfer pricing to rapatriate some of the profit Between UAE and Morocco? - Without mentioning that UAE company is « mine ».
(I’ll need to pay 15% dividend taxes locally )

I see there is an interesting treaty (Lower dividend taxes) but I believe to get
that the UAE company needs to be a subsidiary of the Moroccan one.. so hard to get the approval / lots of paper and stuff to do it..

Would love to hear your thoughts @JustAnotherNomad
 

JustAnotherNomad

Mentor Group Gold
Sounds good! Thank you.
So with the freelance licence and visa, you get the residency card/ID. So for banking/ EMI you are UAE resident (no CRS reporting)..

Yes. But of course if they have reason to believe you’re still mostly in Morocco, they may still send information there.

Can I still live in Morocco (and go once each 6 months to UAE) and do some (little) transfer pricing to rapatriate some of the profit Between UAE and Morocco? - Without mentioning that UAE company is « mine ».

You can do what you want. If it’s not your own company, you don’t have to worry about transfer pricing either. But if there is an audit, they may ask who is behind the other company and what you paid for. And they might want to see proof that you received what you paid for. They may want to see emails, contracts. So if you lie and say it was somebody else’s company and they find out, you have committed a crime. And if you’re honest and say it’s your own company, they’ll probably ask for where the substance is. Either way they probably won’t accept it. But of course I have no idea how strict they are and how much they would usually dig.
 

wheelspin

New member
If the freelance visa comes with a FZE company what about the liability?
What is the difference between the freelance visa and opening a Freezone company?
 

JustAnotherNomad

Mentor Group Gold
Those are questions you should ask the individual free zones. They have sales teams that will answer all such questions.
I guess the biggest difference will be that you might not be allowed to have employees as a freelancer, and then of course what type of license you are even eligible for will depend on your business activities.
 

smartcard

Offshore Agent
If your company is conducting distribution services, whether goods or services, but only to a related foreign party. So in your case, are you providing the software to a company outside of the UAE, AND are those companies related to you by way of shared ownership. If you are only providing services to non related parties then you are NOT undertaking a 'relevant activity'.

You have to remember the idea of the ESR is to see if you are doing BEPS (base erosion and profit sharing), so if you are trying to reduce the profit of a related company in a taxable country. If you are selling (services) or buying (goods) from a non related party then you are not enabling base erosion.

Hope that helps
An amended set of regulations was issued recently and it has some major changes with regards to "Connected Person" Tax Flash

Definition of “Connected person” and “group”
Previous ESR
Connected person: A natural or juridical person who is related to one or more juridical person(s) through direct or indirect ownership or control, or common control.

Group: Not defined.
New ESR
Connected person: An entity forming part of the same group to which the licensee or the excluded licensee belongs.

Group: Two or more entities related through ownership or control, such that they are required to prepare consolidated financial statements.


 

Davis123

New member
Yes. But of course if they have reason to believe you’re still mostly in Morocco, they may still send information there.



You can do what you want. If it’s not your own company, you don’t have to worry about transfer pricing either. But if there is an audit, they may ask who is behind the other company and what you paid for. And they might want to see proof that you received what you paid for. They may want to see emails, contracts. So if you lie and say it was somebody else’s company and they find out, you have committed a crime. And if you’re honest and say it’s your own company, they’ll probably ask for where the substance is. Either way they probably won’t accept it. But of course I have no idea how strict they are and how much they would usually dig.
There are some ways to avoid even this. I think CaptK and some others in Mentor Group can give you better advices.
 

Davis123

New member
B
I talked with directly RAKICC and they told me all every company must complete ESR notification. I will finish ESR notification via agent next week.
yes I agreed. I filled out too last week for my company. It's straightforward for me since all my activities are in UAE.
 
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