What's your attitude to the Mainland in 2024?

[John Doe GOLDEN STAMP]

I managed to open a number of companies in Free Zones (for myself and clients) before recent events. A tax-free paradise and no reporting? That's part of it. But in the year 24, the border between Mainland companies controlling foreign Trusts and Free Zones has practically been erased. in

Everywhere there is 100% foreign ownership (and where not, a professional nominee director to help), there is no need for a local service agent, and the steps of interaction with local government agencies have improved

It would be nice to know your opinion, problems and questions about the Continents (as 87% of the type of business in the UAE).

 

[daniels27]

Mainland what? China?

 

[John Doe GOLDEN STAMP]

Mainland what? China?

I'm sorry, I forgot to clarify. No, Dubai. It's interesting to hear the opinions of owners after the "earthquake". Although everyone is somehow so overestimating the complexity of Corporate Tax..... Yes, the government itself doesn't know all the details yet (to say the least). But "increase spending, retained earnings" is the oldest and most tried and tested way out.

 

[ActionMan]

There's no longer any barrier to establishing a presence there, Plain and simple. Many introducers hesitate because they lack the experience to navigate the landscape. The requirement for a 51% Emirati partner, once a necessity, is no longer an obstacle, enhancing the prestige of owning a mainland company or, at a minimum, maintaining a marketing office on the mainland.

Having a mainland company is crucial for any dealings related to government contracts whether in the UAE, the GCC or the MENA region in general, and whether you're in property development, need specific land permits, or other governmental approvals. you will need a mainland company.

For example, We're in the process of setting up a chicken slaughterhouse capable of processing over 10,000 chickens per hour for just one production line. This venture not only includes the primary production line but also presents opportunities in waste management and cooking facilities, all of which represent significant profit potential. To achieve this, a substantial amount of land is required (about 42,000 - 60,000 Sqm), which would be unattainable without the proper mainland business setup to facilitate government interactions

 

[ZipZop]

biggest difference is the Emirati quota mandatory in a mainland company if you have more than 50 employees (quota is 2%)

 

[John Doe GOLDEN STAMP]

biggest difference is the Emirati quota mandatory in a mainland company if you have more than 50 employees (quota is 2%)

2% of the employee's employment cost? Another point, after 20 employees, you join the Emiratisation and hire 1 UAE citizen.

 

[ZipZop]

minimum 2% of employees number. so 1 per 50