I heard some Freezone like DMCC required to file audit.
I want to know which Dubai Freezone does not require to file an Audit.
Thanks
I want to know which Dubai Freezone does not require to file an Audit.
Thanks
DMCC is a special case. The rest of the Freezones no audit but for your own sake do some bookeeping.I heard some Freezone like DMCC required to file audit.
I want to know which Dubai Freezone does not require to file an Audit.
Thanks
I totally agree, it won't make sense to run a company in some sort of tax free zone if you don't live there and have no audit or accounting, you will be asking for troubles.DMCC is a special case. The rest of the Freezones no audit but for your own sake do some bookeeping.
I email the Dubai Silicon Oasis Authority Website. They said it is required. I attach the screenshot below.
What is the catch?
What I am missing?
Can somebody put some light on this ?
View attachment 2620
They merged just recently with IFZA - they don't require it.@Fred will help us understand, I'm sure
Yes, Receive Confirmation from IFZA. They do not require an Audit.They merged just recently with IFZA - they don't require it.
That's correct.What can we conclude from this, create the company in Dubai, setup your bank account after you visited, then don't worry about the accounting and auditing of your company? So it is similar to a Seychelles company, no worries at all in regards to paperwork?
That's correct.
The only things you have to effort is travel to Dubai, Setup Cost and a good service provider that does some magic when it comes to the banking and the result will be a Company with same remarks like Seychelles IBC but with residence that leads to no CRS reporting and decent retail Business & Personal Bank Account.
What about licensing requirements for corporate crypto trading?
Doesn't crypto trading require a crypto-commodities license with the DMCC when company is based in the UAE?
That's correct.
The only things you have to effort is travel to Dubai, Setup Cost and a good service provider that does some magic when it comes to the banking and the result will be a Company with same remarks like Seychelles IBC but with residence that leads to no CRS reporting and decent retail Business & Personal Bank Account.
Yes - the physical visit and onboarding only residents makes the difference - otherwise UAE would be just another Cayman Islands or BVI with high monitoring and always on the edge being grey/black listed.There is no work around the visit in Dubai right?
This is a too General Question.@Fred With 100% foreign ownership of UAE companies being allowed now (except for some strategic industries), does it even still make sense to register a freezone company? Especially since most freezone entities don't offer limited liability?
Wouldn't it be better to just register a mainland LLC instead?
they can, and that's by having a branch office in the mainland.Can onshore freezone LLC's do business with UAE clients?