If one would settle with online bank (EMI), I am baffled why would anyone go with an expensive company in UAE when there are much cheaper jurisdictions that offer the same as RAK and have a completely closed Registry.
RAK for Daytrading
- Thread starter kinglion
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Of course, if you intend to change country of residence (as an individual) it makes sense, then that is a different story.
I am more confused with people who intend to stay tax residents in their home country, but still want to incorporate tax-free company in RAK. A jurisdiction that offers nothing, bad company documents with no Apostille certification and extremely hard to open regular bank account in or outside UAE.
Unfortunately the only way to avoid tax in Germany or most western EU countries is to get a certificate of residence somewhere else that has a DTA in place.
Whatever you do without a certificate of residence they can get you with their bs CFC rules ...
Whatever you do without a certificate of residence they can get you with their bs CFC rules ...
but that would again require that in my case Germany knows about the company abroad
but because of the visa i count as an arab (simply said) as long as i enter the UAE once every 6 months. For this reason they do not send anything to germany.
and because I won't tell the tax office they don't know that I am behind the company
Even twig can shoot once a year. Don't hope to not be reported. Rules change day by day, you can't hide your transaction history after the laws change
did you get this tested by a tax attorney or good advisor? I believe it can't be that easy or can it?
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My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Still, RAK is a pain(bank account problem, low reputable FZ). Why don't go you with almost reputable Dubai or Abu Dhabi FZ? The cost almost the same. There are also other things you need to consider.
- You also need a utility bill to get rid of CRS completely.
- All FZs started requirements to comply with ESR rules. Did you check it?
Rak was the First one that got recommended for me.
I did not understand the esr rules. Do they apply for me?
It is better to work with Dubai or Abu Dhabi FZs. They're better in every aspect(online portal, customer service, banking possibility etc..).
All companies in the UAE need to comply with the ESR. Since you have a finance business, ESR rules apply to your company. You can check details here Economic Substance Regulations
How to get utility bill? I've tried with virgin mobile Mobile plan yearly contract but they not put address on invoice... dewa at the moment I cannot have, have you other options to get it from abroad?
Interested on the utility bill thing as well.
I'm planning to go with Freelance permit to start with and get the residency card. @rowena Do you think it's "easy" to have a bank account for freelance activities in FZE ? Apparently you can have a "commercial" name with Freelance permit (so you can invoice like a company).
I'm planning to go with Freelance permit to start with and get the residency card. @rowena Do you think it's "easy" to have a bank account for freelance activities in FZE ? Apparently you can have a "commercial" name with Freelance permit (so you can invoice like a company).
For freelance you just need to open personal bank account so it's super easy it will get 2 weeks around
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