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PhiAnon

New member
@Fred Great thread so far, very interesting. Since i can't send pm because i'm a new member i'll just post here my concerns: you say we must stay in Dubai for at least 180days but then proceed to say we can just stay in Dubai for a few days per year, i'm confused, what should i really do if i plan to open a company there ?
What about the non residence visa, what are the requirements to apply for it ? And can i live anywhere i want and still benefit from dubai tax laws ?
Is it easy for a dubai company to apply for services like stripe, transferwise etc ?
 

uplana

Corporate Services
Mentor Group Gold
It's worth to use this service before it get saturated or laws will change and make it an invalid solution.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
@Fred Great thread so far, very interesting. Since i can't send pm because i'm a new member i'll just post here my concerns: you say we must stay in Dubai for at least 180days but then proceed to say we can just stay in Dubai for a few days per year, i'm confused, what should i really do if i plan to open a company there ?
What about the non residence visa, what are the requirements to apply for it ? And can i live anywhere i want and still benefit from dubai tax laws ?
Is it easy for a dubai company to apply for services like stripe, transferwise etc ?
Good questions I think a lot of people are interested in.

Well you mix up the things a little bit.

First of all everybody has its unique situation. But in general there are 2-3 common situations most of our clients are into.

1. Type) Living somewhere in South America, South East Asia or somewhere else with easy life and no headache. However the local banks are not always good, lot of corruption and grey area. They don't have any plans to relocate soon to Europe. They don't care about tax certificate or CRS. Therefore they just need to be every 180 days for 1 day in the UAE to achieve having there Finance & Business base in the UAE.

2. Type) Already living somewhere offshore or mid-offshore like Malta, Cyprus or Panama. Likes the place to live but not for business and banking as a lot of questions asked. However due to favorable CFC rules and minimum of bureaucracy they are fine with moving just the business & banking to the UAE and coming every 180 days for 1 day to the UAE as they are already living offshore or mid-offshore they manage with other jurisdiction tax certificate and using UAE for 0% tax profits and save heaven.

3. Type) Isn't living offshore at all mostly located in Europe, Canada, Brasil or CIS countries and considers tax freedom together with less bureaucracy for his own life. Wants to setup business and residence first to see how things are going and considering moving 180 days + to the UAE to have no issues with the previous home country. This " considering" takes for some clients just weeks or months and for some other years.

So remember:
Coming every 6 months for 1 day to the UAE keeps the whole structure working and active. This means your Finance and Business structure works perfectly fine.

Staying in UAE for 180+ days makes you a tax resident in combination with things like a local UAE Bank account and some salary coming in.

To make your tax residence not questionable to anybody you can apply for tax residence certificate.

But what time asks somebody for the tax residence certificate? Well that's a good question and only hard to answer.

Usually the tax residence certificate is only really necessary if you have somewhere else strong ties and substance or you want to move back to your previous home country after a short period of time. Imagine moving out of an aggressive tax country like Germany and France as the average Joe and flying in 2-3 years later with a private jet and millions of dollars - for sure the tax authority will ask questions and for sure a tax residence certificate will help you in such a critical case.

My conclusion:

I meet frequently people from the forum and most of them are already living years outside of there country of citizenship, many have several passports, some even have passports with different names. Many even don't know where they will live in 2-3 years. Some don't have no plans to relocate to within the next 5-10 years to there home country.

For all of you guys - save you the headache of counting days and tax residence certificate - you are lucky and in a very good position.

But:

For all the boring guys like me with only having one passport of a high tax country - ask yourself if 1.) you want to relocate back to your home country within a short period of time (2-3 years) or 2.) you don't have any plans for the next 5-10 years and just want to enjoy life.

For the 1.) Situation make sure you get the tax residence certificate for the 2.) Situation - enjoy your life.

I can confirm moving out of a high tax country (living 20+ years before) and never looking back won't make you any troubles even without a tax residence certificate.
 
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uplana

Corporate Services
Mentor Group Gold
I meet frequently people from the forum and most of them are already living years outside of there country of citizenship, many have several passports, some even have passports with different names. Many even don't know where they will live in 2-3 years. Some don't have no plans to relocate to within the next 5-10 years to there home country.
looks like many around here are willing to relocate or establish their business in Dubai.

I seriously consider using your service in a few month, do you offer any guarantees, escrow or something for the delivery ?
 

JackAlabama

Entrepreneur
looks like many around here are willing to relocate or establish their business in Dubai.

I seriously consider using your service in a few month, do you offer any guarantees, escrow or something for the delivery ?
If it helps you, I got the e-visa issued already some time ago, while being outside the country and all was as promised so far.
Soon I will be in Dubai to complete the process.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
looks like many around here are willing to relocate or establish their business in Dubai.

I seriously consider using your service in a few month, do you offer any guarantees, escrow or something for the delivery ?
Yes. The setup we provide is the way to go right now as you still receive in 2021 what everybody is looking for:

Tax Freedom and Privacy.

If we check your documents upfront and everything is fine - we guarantee for the service.

So far we could serve anybody and of course the only thing you need to have is patience when it comes to the Business Bank Account opening.

We make everybody with VIP Service and Fast Track - however we are either the Bank Compliance or the Immigration Authority of the UAE.

Long story short:
Everything we can influent directly - we do - fast and straightforward.

Everything we can't influent - we provide always several options and for now always one option at least worked out.
 

Kol019201

Silver Member
I always see people asking about the business bank account in here. If people already got their account and if Fred can even provide one...

I can assure you that Fred has good contacts to many banks and will provide you with a business bank account. It worked in my case, so it will surely work for you.
I got an business bank account at Emirates NBD. That's like the best bank you can wish for.
Just do as Fred says and you will get your account in 4-6 weeks. He also replies very fast on telegram if you need help with anything.


Let the cashout begin.
emirates nbd.PNG
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
I always see people asking about the business bank account in here. If people already got their account and if Fred can even provide one...

I can assure you that Fred has good contacts to many banks and will provide you with a business bank account. It worked in my case, so it will surely work for you.
I got an business bank account at Emirates NBD. That's like the best bank you can wish for.
Just do as Fred says and you will get your account in 4-6 weeks. He also replies very fast on telegram if you need help with anything.


Let the cashout begin.
View attachment 2684
Thanks for taking your time to leave a review.

Was a pleasure to work with you and we are thankful that you followed our advise all the time.

We already managed a lot of business accounts but only a few are taking the time to leave a review.
 

ttrader

New member
I always see people asking about the business bank account in here. If people already got their account and if Fred can even provide one...

I can assure you that Fred has good contacts to many banks and will provide you with a business bank account. It worked in my case, so it will surely work for you.
I got an business bank account at Emirates NBD. That's like the best bank you can wish for.
Just do as Fred says and you will get your account in 4-6 weeks. He also replies very fast on telegram if you need help with anything.


Let the cashout begin.
View attachment 2684

That is encouraging to hear! Ill be soon opening my UAE company business bank account via Fred too, fingers crossed! and Ill report back.
 

DutyFree

New member
I am here to review Fred work per his request.


After chatting for a few days and having a call with Fred to let him known my specific needs and discussing how we could find a solution: I agree to proceed.
Few hours later I receive a service agreement to my email and make the payment.

15 days later I receive to my email company docs, quick and smooth. I was really impressed even at this early stage by the proffesionalism of this Psedu-Anonymous guy.

After this first steps we proceed with the e-visa application and I tell Fred when I will be able to visit the country.

I land in Dubai, the same night I meet with Fred and we have a nice chat. He is well manered and well versed in his business. To be honest I wanted to meet with Fred in person just to make sure I was not working with some thugs or lowlife guy looking to make a quick buck. Test passed.

Next day I was picked in my hotel to become an UAE resident. It was a long day, around 5-6 hours. Fred guy did a remarkable job skipping some lines where he could and making you feel like at home from minute one.


After around 7 days I get my passport back and after 10 days I get my EmiratesID.
I have only one day left in Dubai to make all Bank meetings before leaving. So I am sitting in the hotel thinking I lost my trip because I will be leaving with any bank account.

I talk with Fred and let him know my situation and here is where the magic comes to live : He arranged 2 meetings with the biggest Banks in UAE and we get everything sorted out the last day.
Things I learned that day:
Cash deposit are no issue, but is not recommended in big quantities, options are provided.
No CRS reporting has ever happened, said by the banker himself. “No one will ask”.


Now I am just waiting for my business bank account to get opened. He already told me it might take some time. I will update when I get it running.


As a personal advice : If you can afford the time to spend 20 days, please do. Will make everything less stressful and get to know better the bankers.
 

JackAlabama

Entrepreneur
In the meantime, I also progressed one step ahead.
After having gotten e-visa, I came to Dubai and did the remaining steps of the application with an employee of Fred, who was well versed in handling the affairs and I felt well guided thru the bureaucracy of Dubai.

The staff working in Dubai gov were surprisingly nice and I felt treated well while having had to capture biometric data.

The medical check was also quick and rather painless with the result delivered within 30mins. That place is in itself quite a humm lets say futuristic experience in its look and feel with robots strolling around, which was not something I was used to before.

I have experience with the process in Panama and also some other countries where the gov staff was pretty rude and things were much more cumbersome. So from that perspective, Dubai won points. (I knew the place from just tourism before though).

A tip: Bring cash and several cards to the process for the gov/medical fees.

I was not in a rush with the whole process as I will stay in Dubai for a prolonged time (after all where can you really travel to during this covid thing without much hassle besides Europe and Africa), so if anyone is interested in a personal meetup, feel free to send PM.
 
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Can not agree more
Most Bank have now this type of facility, Named Digital bank. You only required mobile and Emirate Id to open account .
I posted so many time on the forum. I posted again here .


All major bank have this feature.

Can not say about Business bank account . But when you get your Emirate ID . You get personal bank account Easily. No need to worry about personal account. (If you are from any country)

Hope this help.
Thanks so much.
1. Are these banks you recommend for a Freezone Business company? Have you used any of them for a Freezone company yourself?
2. Do any of them open the account in non AED currency (USD or multi currency would be ideal)?
3. Is there any harm in trying more than one application at the same time, just in case one or more bank refuses the application?
4. Will they open the personal account at the same time, or just after the company account is opened?
 

angltrust

New member
Here's my ( verypositive) review:

1. The company and e-visa were created very quickly while I was outside of U.A.E.
2. Once on the ground, I had to apply for a res. status. At every step of the way, there was a PRO with me who worked out the details. I strongly believe that anyone who even doesn't speak English can easily do this.
3. Once the res. was done, I applied successfully for bank accounts. It's important to say that DLS are very well connected and they get the job done.

I only had to remain for 10 days in U.A.E. to complete everything.

To summarize, these guys get the job done 100%, no question about it.
 

azb1

Entrepreneur
Thanks so much.
1. Are these banks you recommend for a Freezone Business company? Have you used any of them for a Freezone company yourself?
2. Do any of them open the account in non AED currency (USD or multi currency would be ideal)?
3. Is there any harm in trying more than one application at the same time, just in case one or more bank refuses the application?
4. Will they open the personal account at the same time, or just after the company account is opened?
1. Are these banks you recommend for a Freezone Business company? Have you used any of them for a Freezone company yourself?
Yes,
You can apply online. Fill form

2. Do any of them open the account in non AED currency (USD or multi currency would be ideal)?
I think most of them only support AED (Mobile Bank aka Digital Bank)

3. Is there any harm in trying more than one application at the same time, just in case one or more bank refuses the application?
Zero, Nobody cares. Do not worry too much about bank account opening . If you have real business, There will be no problem . But your business is shady one you will face some difficulty.

4. Will they open the personal account at the same time, or just after the company account is opened?
Personal account immaturely. Business takes time.

Overall, I can get idea that You are worrying about the "bank account". Fred is well connected as so many People give him good review. If you take his service, I think there will be no problem.
You can apply for yourself also. But Like I say so many time in this forum .Everything complex and confusing. As example Personal account can not be used for business activities. There are so many caution you have to take for banking operation in Dubai. Bank Staff is not up to mark. Sometime They just do not want to dig dipper. Can reject your application mercilessly. Sake of saving few bucks , Cost you so many days in Dubai. Stress and Headache also.
You can try to http://mashreqneobiz.com/. You can get some idea what I am trying to say. It is not that You can not open account by yourself. But ,By doing yourself, It takes time to things to understand.
Small Silly mistake can reject your application.

Hope you get my point.
 
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1. Are these banks you recommend for a Freezone Business company? Have you used any of them for a Freezone company yourself?
Yes,
You can apply online. Fill form

2. Do any of them open the account in non AED currency (USD or multi currency would be ideal)?
I think most of them only support AED (Mobile Bank aka Digital Bank)

3. Is there any harm in trying more than one application at the same time, just in case one or more bank refuses the application?
Zero, Nobody cares. Do not worry too much about bank account opening . If you have real business, There will be no problem . But your business is shady one you will face some difficulty.

4. Will they open the personal account at the same time, or just after the company account is opened?
Personal account immaturely. Business takes time.

Overall, I can get idea that You are worrying about the "bank account". Fred is well connected as so many People give him good review. If you take his service, I think there will be no problem.
You can apply for yourself also. But Like I say so many time in this forum .Everything complex and confusing. As example Personal account can not be used for business activities. There are so many caution you have to take for banking operation in Dubai. Bank Staff is not up to mark. Sometime They just do not want to dig dipper. Can reject your application mercilessly. Sake of saving few bucks , Cost you so many days in Dubai. Stress and Headache also.
You can try to http://mashreqneobiz.com/. You can get some idea what I am trying to say. It is not that You can not open account by yourself. But ,By doing yourself, It takes time to things to understand.
Small Silly mistake can reject your application.

Hope you get my point.
Thank you for your response.

So bank account is no problem as long as I use Fred (which I have not), but WILL be a problem if I do not. So therefore I am right to be concerned and hence my questions. :)

You recommend Mashreq in point 1, then seem to imply in your last point that they will be difficult?

I have not got my Emirates ID yet (I will get that when I visit), so will I be able to start the application without that? It seems that most of them require that in the application.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
@azb1 thanks helping answer questions if I miss them.

However I need to clarify some things about the Banking in the UAE and some myths around here in the forum.

For Business Bank Account opening there is no EMI like Bank Account opening available with local UAE Banks.

The whole thing about Mashreq NeoBiz is that you can apply online for it instead of signing papers in person.

Everything else afterwards like compliance questions will be done by Mail same like with classic banks as well.

The big problem about Mashreq NeoBiz is that you have to meet the banker to verify your documents and activate the Online Banking after 3-4 weeks so this is not visible for people with a 1 week stay in Dubai to get everything done.

Still you can open with classic bank solutions remote while staying abroad once the account application form is signed.

The only real advantage of Mashreq NeoBiz is the 0 balance account but this comes with a requirement to stay at least 4 weeks in Dubai - so not suitable for everyone and still a nice to have option but definitely far away from EMI like opening.

I wanted to clarify this as people getting confused with misleading information without pratice experience during personal consulting calls.
 

hokus

New member
The process ensures that everything is designed to meet bank requirements. Therefore, I understand that Fred can guarantee a business account, as he checks each case individually in advance.

Since business bank accounts are the only critical part of the process and Fred has plenty of solutions for this, he is definitely recommended.

For future questions regarding companies/banks etc. I will always turn to him!
 
@azb1 thanks helping answer questions if I miss them.

However I need to clarify some things about the Banking in the UAE and some myths around here in the forum.

For Business Bank Account opening there is no EMI like Bank Account opening available with local UAE Banks.

The whole thing about Mashreq NeoBiz is that you can apply online for it instead of signing papers in person.

Everything else afterwards like compliance questions will be done by Mail same like with classic banks as well.

The big problem about Mashreq NeoBiz is that you have to meet the banker to verify your documents and activate the Online Banking after 3-4 weeks so this is not visible for people with a 1 week stay in Dubai to get everything done.

Still you can open with classic bank solutions remote while staying abroad once the account application form is signed.

The only real advantage of Mashreq NeoBiz is the 0 balance account but this comes with a requirement to stay at least 4 weeks in Dubai - so not suitable for everyone and still a nice to have option but definitely far away from EMI like opening.

I wanted to clarify this as people getting confused with misleading information without pratice experience during personal consulting calls.
Thanks Fred, which banks allow you to get submit everything online in advance of a trip to Dubai and then get everything done in person within one week while there? I don't have my Emirates ID yet but will collect when I am there also.

Am thinking of gong with RakBank.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Thanks Fred, which banks allow you to get submit everything online in advance of a trip to Dubai and then get everything done in person within one week while there? I don't have my Emirates ID yet but will collect when I am there also.

Am thinking of gong with RakBank.
This is with no bank possible.

Mashreq NeoBiz and RAKBANK online application both require that you have the Emirates ID already so no "upfront" application while you are abroad is possible.

Don't let you mislead by thinking there is something like a EMI - both Mashreq NeoBiz and RAKBANK require you to meet in person - RAKBANK during the process that can easily take 2 weeks and Mashreq NeoBiz to activate the Online Banking after 2-4 weeks so for both you have to be in Dubai for 34 weeks.

In your case you need to have a good service provider that manages like we do - schedule the bank meeting for taking the signatures once you have the Residence Visa in the Passport and present the Emirates ID afterwards to the banker and send it abroad because the EID is even not ready within 1 week if you have to make the Medical Test etc. still when you arrive. This process is only possible with classic Bank Applications like with ENBD - the account gets opened after you have left already and you don't need to see the banker ever again to get access to the Online Banking or for verifiying something.
 
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