Real costs of UAE legal entity?

[Valhalla]

Hello!
Can anyone please tell me what would be the annual costs of running UAE legal entity in Free Zone?

Do you need to hire audit & accountancy firm, manage payroll, VAT certificates, Social Insurance, UBO Registration, Shareholder tax return certification, etc etc?

Thank you very much!

 

[Martin Everson]

@Fred Can you help here?

Please make findings public so others can benefit from this question.

 

[Fred]

@Fred Can you help here?

Please make findings public so others can benefit from this question.

Dubai Onshore Freezone Company with 1 Residence Visa and the necessary SUBSTANCE in 2022:

Setup 8.000 EUR
Yearly 5.000 EUR

No accounting or audit requirements if setup in the right way.

Since the FATF Grey Listing you simply can't get around a real physical office if you want to have USD and EUR accounts - we include this of course in our proposal.

 

[fshore]

Yearly 5.000 EUR

So that includes a physical office that you can actually use and work from on a daily basis, in Dubai?
incl internet, phone line etc?

 

[369]

@Fred please check pm if such a setup would be possible in dubai

 

[thirtyniner]

Dubai Onshore Freezone Company with 1 Residence Visa and the necessary SUBSTANCE in 2022:

Setup 8.000 EUR
Yearly 5.000 EUR

No accounting or audit requirements if setup in the right way.

Since the FATF Grey Listing you simply can't get around a real physical office if you want to have USD and EUR accounts - we include this of course in our proposal.

I couldn't agree any further!!

 

[Valhalla]

@Fred could you please message me?

 

[Valhalla]

Still looking for service provider

 

[FixieHartmann]

Dubai Onshore Freezone Company with 1 Residence Visa and the necessary SUBSTANCE in 2022:

Setup 8.000 EUR
Yearly 5.000 EUR

No accounting or audit requirements if setup in the right way.

Since the FATF Grey Listing you simply can't get around a real physical office if you want to have USD and EUR accounts - we include this of course in our proposal.

The setup fee includes the first years fee? So it is 8k the first year, 5k the second and so on?

 

[erni]

The setup fee includes the first years fee? So it is 8k the first year, 5k the second and so on?

would like to know that too

 

[JohnnyDoe]

You can save money by buying my RAK company established in 2010 for just $1000

 

[erni]

You can save money by buying my RAK company established in 2010 for just $1000

what is the downside of doing so? it can't be the same as a fully established Dubai company?

 

[JohnnyDoe]

what is the downside of doing so? it can't be the same as a fully established Dubai company?

You get a 12 years old company with a bank account (ADIB). You just need to change the name of the company and the signatory on the account. It’s less expensive than setting up a new company and much cheaper than vintage companies you find on the market (if you can find any).

 

[erni]

I must say I'm impressed. I will have to visit the bank to change the signatory right ?

 

[Dandyline]

Dubai Onshore Freezone Company with 1 Residence Visa and the necessary SUBSTANCE in 2022:

Setup 8.000 EUR
Yearly 5.000 EUR

No accounting or audit requirements if setup in the right way.

Since the FATF Grey Listing you simply can't get around a real physical office if you want to have USD and EUR accounts - we include this of course in our proposal.

Which FZ?

 

[JohnnyDoe]

I must say I'm impressed. I will have to visit the bank to change the signatory right ?

Yes

 

[Fred]

The setup fee includes the first years fee? So it is 8k the first year, 5k the second and so on?

Yes.

what is the downside of doing so? it can't be the same as a fully established Dubai company?

Downside is that ADIB runs a re-KYC on you as a new Account Holder and can decline of course and close the account. Of course it needs to be self explaining that you need to have Visa and EID to even have a a chance to get the re-KYC approved.

I would say if you have good ties to the UAE the chance is 50/50 and if you are already ADIB Corporate Client the Chance is 70/30 for getting the account approved.

However for 1k USD it's absolutely worth a try.

 

[erni]

You can help against a fee @Fred ?

 

[Fred]

You can help against a fee @Fred ?

No - it's entirely up to the internal policy of the bank if they keep it or not.

 

[RealDude]

So that includes a physical office that you can actually use and work from on a daily basis, in Dubai?
incl internet, phone line etc?

would like to know that too