Thanks for the review.
Which bank did you manage to get the business account opened with?
NON-CRS SETUP: Dubai Company with FREE Residence Visa and Bank Accounts! - DLS Dubai
- Thread starter Fred
- Start date
Which bank did you manage to get the business account opened with?
With the Freezone we work with - no.
The Company Documents can be verified with a QR code on it - so the Date of incorporation can only be verified from somebody having the original company documents. Public is zero visible.
So the Privacy of your Dubai Company will go as far as you take it - keep the Company incorporation for you and you have 100% privacy.
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True I can confirm that.
Most other Freezone take time to Reply (Not much) but IFZA is the fastest among all. You can receive a reply in Few Hours.
Just got back from Dubai and would like to share my experience with Fred and DLS dubai.
We decided to go with DLS because they offered an all inclusive service. From previous experience i know that creating a company is not hard, but getting the bank account with an established bank is another matter.
We spoke a few times via telegram and decided to go head. Initially we were supposed to apply for the visa remotely but at the time we did this Dubai had stopped accepting remote applications so we decided to travel to Dubai and sort everything out in the country.
When we arrived we met with Fred and we discussed the whole setup and he helped us reconfigure a few things to make sure the setup was bulletproof. I have some experience with creating offshore companies but it was nice to speak to a pro and is was obvious that Fred has been doing this for a while and knows the lay of the land so to speak.
The whole medical and emirates ID application went smooth, we got picked up by Mareb and he took us trough everything. (We even skipped the line for the fingerprint taking witch was about 3 hours long 🙂
Last but not least was the bank meeting, before the meeting we had already gone over the whole setup with an associate banker of Freds to make sure the setup would be approved.
This last part was was assured me that the money was well spend with DLS. We met with Freds contact in the bank and he made us sign all the necessary documents. He assured us that we would not need to come in person again, and even if we where required to come he would sign on our behalf and Fedex us the documents or cards directly.
We expect the bank to be open in about 3 weeks time.
Only negative thing i have to say is that there was a miscommunication about the price of the VISA, but we told Fred how we felt and he decided to give us a refund for the difference, excellent service.
All in all i am super happy with the service provided and i am happy recommend Fred to anyone.
We decided to go with DLS because they offered an all inclusive service. From previous experience i know that creating a company is not hard, but getting the bank account with an established bank is another matter.
We spoke a few times via telegram and decided to go head. Initially we were supposed to apply for the visa remotely but at the time we did this Dubai had stopped accepting remote applications so we decided to travel to Dubai and sort everything out in the country.
When we arrived we met with Fred and we discussed the whole setup and he helped us reconfigure a few things to make sure the setup was bulletproof. I have some experience with creating offshore companies but it was nice to speak to a pro and is was obvious that Fred has been doing this for a while and knows the lay of the land so to speak.
The whole medical and emirates ID application went smooth, we got picked up by Mareb and he took us trough everything. (We even skipped the line for the fingerprint taking witch was about 3 hours long 🙂
Last but not least was the bank meeting, before the meeting we had already gone over the whole setup with an associate banker of Freds to make sure the setup would be approved.
This last part was was assured me that the money was well spend with DLS. We met with Freds contact in the bank and he made us sign all the necessary documents. He assured us that we would not need to come in person again, and even if we where required to come he would sign on our behalf and Fedex us the documents or cards directly.
We expect the bank to be open in about 3 weeks time.
Only negative thing i have to say is that there was a miscommunication about the price of the VISA, but we told Fred how we felt and he decided to give us a refund for the difference, excellent service.
All in all i am super happy with the service provided and i am happy recommend Fred to anyone.
@Petersvenson
Thanks for the very good extensive review.
Like mentioned back in the days remote Visa Application wasn't available so you had to come to the UAE before we were able to file the Visa application.
In this case there is a status change involved that has to be paid. We didn't communicated this well enough in the past so we decided to take responsibility for the costs.
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Thanks for the very good extensive review.
Like mentioned back in the days remote Visa Application wasn't available so you had to come to the UAE before we were able to file the Visa application.
In this case there is a status change involved that has to be paid. We didn't communicated this well enough in the past so we decided to take responsibility for the costs.
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Freezone in small emirate comes only with downside at the same price of a Dubai Freezone.
It's much more difficult to open a Business Bank Account for a company incorporated outside Dubai in 2021.
Some of the banks we work with even have most of the smaller emirate Freezones blacklisted because they don't comply with the latest regulation.
Furthermore anybody want to spend there time in Dubai and all the GoV services related to your Residence Visa in Dubai are digital available - there is again no point to take a Residence Visa somewhere in the dessert and in urgent matters you have to drive through whole UAE to get things done.
What you have mentioned about being one day per year to the UAE has nothing to do with the Emirate you have your Residence Visa with but the type of Residence Visa.
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Hey everyone,
I found Fred through this forum so I felt it was right to post an update. I started the company formation process about 1-2 months ago. I am now finally in Dubai to do the visa stamping and perhaps the most important one of all, opening the business bank account.
Fred knows the process well and is quite knowledgeable. However, it took a lot longer than expected to get all the documents. It took me around a month. This is mostly from the slow paperwork speeds from the issuing authority. I was told they are handling bigger volumes of applications.
I also had to spend 15 days in another country in-order to gain entry into Dubai due to COVID flight restrictions. So that definitely added time on the clock.
I have obtained my medical check up certificate on Thursday but couldn't get to the remaining things due to not enough time and not having enough liquid cash on me.
Going to withdraw more cash and hoping to finish everything on the next upcoming working day and then eventually the bank meeting.
Just wanted to make an intro post about the process. I will post a review in greater detail once I am fully done.
Cheers
I found Fred through this forum so I felt it was right to post an update. I started the company formation process about 1-2 months ago. I am now finally in Dubai to do the visa stamping and perhaps the most important one of all, opening the business bank account.
Fred knows the process well and is quite knowledgeable. However, it took a lot longer than expected to get all the documents. It took me around a month. This is mostly from the slow paperwork speeds from the issuing authority. I was told they are handling bigger volumes of applications.
I also had to spend 15 days in another country in-order to gain entry into Dubai due to COVID flight restrictions. So that definitely added time on the clock.
I have obtained my medical check up certificate on Thursday but couldn't get to the remaining things due to not enough time and not having enough liquid cash on me.
Going to withdraw more cash and hoping to finish everything on the next upcoming working day and then eventually the bank meeting.
Just wanted to make an intro post about the process. I will post a review in greater detail once I am fully done.
Cheers
Has anyone got experience with Dubai company and Portugal's NHR scheme?
Just fininshed a call with Portugese tax advisor and he said dividends from a Dubai based company could be remitted to Portugal 100% tax free under the NHR scheme.
However, he also thinks I would require an Executive Director on the board of the Dubai company to satisfy CFC rules in Portugal.
Anyone else looked into this?
Just fininshed a call with Portugese tax advisor and he said dividends from a Dubai based company could be remitted to Portugal 100% tax free under the NHR scheme.
However, he also thinks I would require an Executive Director on the board of the Dubai company to satisfy CFC rules in Portugal.
Anyone else looked into this?
@Barney2201
That's a very good questions and we want to give you a quick overview as literally every 2nd Crypto request we get this days are in some way related to Portugal.
From what clients, interested people and even lawyers we contacted directly about this matter in Portugal we know there 3 types of lawyer with 3 different opinion about this matter.
1. Lawyer Opinion is that UAE isn't considered as a tax Haven and black listed but in some way on a grey list and the scheme with UAE isn't working at all for Portugal Residence.
2. Lawyer Opinion is like you mentioned it l. It's not an issue and you just need some local substance with a local director to remit the funds 100% tax free to Portugal.
3. Lawyer Opinion is that Portugal don't check the UAE substance really at all and you don't need a local director or anything else beside of the Dubai Company Formation.
However like always in Europe there is no clean straightforward opinion about some regulations and some people will simply get away with it and some other people will have issues depending on where you will live in Portugal. Maybe it's even going as far as it depends on the individual tax office in Portugal you deal with at the end of the day.
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That's a very good questions and we want to give you a quick overview as literally every 2nd Crypto request we get this days are in some way related to Portugal.
From what clients, interested people and even lawyers we contacted directly about this matter in Portugal we know there 3 types of lawyer with 3 different opinion about this matter.
1. Lawyer Opinion is that UAE isn't considered as a tax Haven and black listed but in some way on a grey list and the scheme with UAE isn't working at all for Portugal Residence.
2. Lawyer Opinion is like you mentioned it l. It's not an issue and you just need some local substance with a local director to remit the funds 100% tax free to Portugal.
3. Lawyer Opinion is that Portugal don't check the UAE substance really at all and you don't need a local director or anything else beside of the Dubai Company Formation.
However like always in Europe there is no clean straightforward opinion about some regulations and some people will simply get away with it and some other people will have issues depending on where you will live in Portugal. Maybe it's even going as far as it depends on the individual tax office in Portugal you deal with at the end of the day.
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Hi, thanks for your detailed response.
The tax advisor I spoke to related to this article which was a court ruling in 2017
https://www.cms-lawnow.com/ealerts/2017/07/nhr-regime-dividends-from-dubai?sc_lang=fr
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.
The tax advisor I spoke to related to this article which was a court ruling in 2017
https://www.cms-lawnow.com/ealerts/2017/07/nhr-regime-dividends-from-dubai?sc_lang=fr
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.
Just send me a PM and we can take a look if we can help you with this matter.
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@Fred Great thread so far, very interesting. Since i can't send pm because i'm a new member i'll just post here my concerns: you say we must stay in Dubai for at least 180days but then proceed to say we can just stay in Dubai for a few days per year, i'm confused, what should i really do if i plan to open a company there ?
What about the non residence visa, what are the requirements to apply for it ? And can i live anywhere i want and still benefit from dubai tax laws ?
Is it easy for a dubai company to apply for services like stripe, transferwise etc ?
What about the non residence visa, what are the requirements to apply for it ? And can i live anywhere i want and still benefit from dubai tax laws ?
Is it easy for a dubai company to apply for services like stripe, transferwise etc ?
It's worth to use this service before it get saturated or laws will change and make it an invalid solution.
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Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.
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Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.
Good questions I think a lot of people are interested in.
Well you mix up the things a little bit.
First of all everybody has its unique situation. But in general there are 2-3 common situations most of our clients are into.
1. Type) Living somewhere in South America, South East Asia or somewhere else with easy life and no headache. However the local banks are not always good, lot of corruption and grey area. They don't have any plans to relocate soon to Europe. They don't care about tax certificate or CRS. Therefore they just need to be every 180 days for 1 day in the UAE to achieve having there Finance & Business base in the UAE.
2. Type) Already living somewhere offshore or mid-offshore like Malta, Cyprus or Panama. Likes the place to live but not for business and banking as a lot of questions asked. However due to favorable CFC rules and minimum of bureaucracy they are fine with moving just the business & banking to the UAE and coming every 180 days for 1 day to the UAE as they are already living offshore or mid-offshore they manage with other jurisdiction tax certificate and using UAE for 0% tax profits and save heaven.
3. Type) Isn't living offshore at all mostly located in Europe, Canada, Brasil or CIS countries and considers tax freedom together with less bureaucracy for his own life. Wants to setup business and residence first to see how things are going and considering moving 180 days + to the UAE to have no issues with the previous home country. This " considering" takes for some clients just weeks or months and for some other years.
So remember:
Coming every 6 months for 1 day to the UAE keeps the whole structure working and active. This means your Finance and Business structure works perfectly fine.
Staying in UAE for 180+ days makes you a tax resident in combination with things like a local UAE Bank account and some salary coming in.
To make your tax residence not questionable to anybody you can apply for tax residence certificate.
But what time asks somebody for the tax residence certificate? Well that's a good question and only hard to answer.
Usually the tax residence certificate is only really necessary if you have somewhere else strong ties and substance or you want to move back to your previous home country after a short period of time. Imagine moving out of an aggressive tax country like Germany and France as the average Joe and flying in 2-3 years later with a private jet and millions of dollars - for sure the tax authority will ask questions and for sure a tax residence certificate will help you in such a critical case.
My conclusion:
I meet frequently people from the forum and most of them are already living years outside of there country of citizenship, many have several passports, some even have passports with different names. Many even don't know where they will live in 2-3 years. Some don't have no plans to relocate to within the next 5-10 years to there home country.
For all of you guys - save you the headache of counting days and tax residence certificate - you are lucky and in a very good position.
But:
For all the boring guys like me with only having one passport of a high tax country - ask yourself if 1.) you want to relocate back to your home country within a short period of time (2-3 years) or 2.) you don't have any plans for the next 5-10 years and just want to enjoy life.
For the 1.) Situation make sure you get the tax residence certificate for the 2.) Situation - enjoy your life.
I can confirm moving out of a high tax country (living 20+ years before) and never looking back won't make you any troubles even without a tax residence certificate.
Last edited: Jun 2, 2021
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looks like many around here are willing to relocate or establish their business in Dubai.
I seriously consider using your service in a few month, do you offer any guarantees, escrow or something for the delivery ?
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Find help to the ultimate anonymous setup on OffshoreCorpTalk - Tried, Tested & Works
Need help to get things done, ping me inside the Mentor Group Gold forums.
If it helps you, I got the e-visa issued already some time ago, while being outside the country and all was as promised so far.
Soon I will be in Dubai to complete the process.
Yes. The setup we provide is the way to go right now as you still receive in 2021 what everybody is looking for:
Tax Freedom and Privacy.
If we check your documents upfront and everything is fine - we guarantee for the service.
So far we could serve anybody and of course the only thing you need to have is patience when it comes to the Business Bank Account opening.
We make everybody with VIP Service and Fast Track - however we are either the Bank Compliance or the Immigration Authority of the UAE.
Long story short:
Everything we can influent directly - we do - fast and straightforward.
Everything we can't influent - we provide always several options and for now always one option at least worked out.
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I always see people asking about the business bank account in here. If people already got their account and if Fred can even provide one...
I can assure you that Fred has good contacts to many banks and will provide you with a business bank account. It worked in my case, so it will surely work for you.
I got an business bank account at Emirates NBD. That's like the best bank you can wish for.
Just do as Fred says and you will get your account in 4-6 weeks. He also replies very fast on telegram if you need help with anything.
Let the cashout begin.
I can assure you that Fred has good contacts to many banks and will provide you with a business bank account. It worked in my case, so it will surely work for you.
I got an business bank account at Emirates NBD. That's like the best bank you can wish for.
Just do as Fred says and you will get your account in 4-6 weeks. He also replies very fast on telegram if you need help with anything.
Let the cashout begin.