There is a lot of good information in this post.
I just have a question about the location to incorporate the company.
Why do you not recomend places like Fujairah ?
What is the advantage to have the company in Dubai?
Good Point @carlosbl
Due to the fact that we open the local UAE Business & Personal Account with the Residence Visa, Emirates ID and local phone no. the Bank consider you fully as local UAE resident and therefore no reporting of your financial statements under CRS is triggered.
It's called Residence by Investment by the OECD:
"While residence and citizenship by investment (CBI/RBI) schemes allow individuals to obtain citizenship or residence rights through local investments or against a flat fee for perfectly legitimate reasons, they can also be potentially misused to hide their assets offshore by escaping reporting under the OECD/G20 Common Reporting Standard (CRS)."
Thanks for the review.Hey all.
Not posting much in this forum, but I believe it’s time for me to do the first one.
2 months ago, we started to process with DLS-Dubai getting 2 companies set up in the UAE with personal and business bank accounts. We had a few Signal calls with Fred from DLS-Dubai and quickly afterwards paid his invoice for getting it all set up. Many of the documents we did remotely before we arrived in Dubai, so it could be done as fast as possible. 1 month afterwards we booked a flight for Dubai, and estimated the whole process would take approximately 10 days.
When we arrived in Dubai we immediately went out for the different medical tests, insurance etc, getting all the work done as fast as possible. We had LOCAL personal driver helping us with all of the stuff, so it’s idiot proof for sure.
During the process we also met up with Fred and had dinner with him (which he surprisingly paid). We were really worried that we couldn’t make it within 10 days, as we should also do the bank meeting. On the 8. day here in Dubai we had he bank meeting, and here I am writing the review after the meeting.
Credit cards will be sent to our home country within 2 weeks, and our business banking account will be opened within the next 4 weeks. All set and done now – and can only give my best recommendations for DLS-Dubai.
With the Freezone we work with - no.
True I can confirm that.DSOA
The management and leadership is from EU. If you have some urgent matter you get as a partner what you need in 30 minutes. That's not the case by other Zones - they basically say to you in a urgent matter you have to write an email and they get back to you within 2-3 days.
As we work mainly with europeans - we know the mentality of them as well as that everything needs to be scheduled well we have to work with the most responsive authority to provide the best service for the client. That's what we care about the most because all the Business Authorities in Dubai are more or less the same except the management and leadership.
Freezone in small emirate comes only with downside at the same price of a Dubai Freezone.hello! at your website can be found Popular mistakes at a glance and Company formation in small emirates such as Ras Al Khaimah, Fujairah and Ajman is indicated as a mistake. can you clarify why, when some of them are really attractive as allow to have residence keep alive by visiting UAE once a year.
Just send me a PM and we can take a look if we can help you with this matter.Hi, thanks for your detailed response.
The tax advisor I spoke to related to this article which was a court ruling in 2017
<p>Following a litigation procedure filed recently to challenge a personal income tax (“IRS”) assessment of 35% on dividends received from Dubai by a tax resident individual eligible for the special tax regime applicable to non-habitual residents (“NHR”), the Portuguese Tax Authorities, when...www.cms-lawnow.com
It does look possible, the only question mark is substance...
How easy is it to have substance in Dubai, and roughly what costs are involved?
We are not into crypto, we own an international events company, working 70% Uk and 30% global.