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.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Fred]

Martin Everson said:
@Fred Can you help here?

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

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.

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[fshore]

Fred said:
Yearly 5.000 EUR
Click to expand...

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]

Fred said:
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.
Click to expand...

I couldn't agree any further!! 😡😉

 

[Valhalla]

@Fred could you please message me?

 

[Valhalla]

Still looking for service provider

 

[FixieHartmann]

Fred said:
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.
Click to expand...

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

 

[erni]

FixieHartmann said:
The setup fee includes the first years fee? So it is 8k the first year, 5k the second and so on?
Click to expand...

would like to know that too

 

[JohnnyDoe]

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

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[erni]

JohnnyDoe said:
You can save money by buying my RAK company established in 2010 for just $1000
Click to expand...

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

 

[JohnnyDoe]

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

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[erni]

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

 

[Dandyline]

Fred said:
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.
Click to expand...

Which FZ?

 

[JohnnyDoe]

erni said:
I must say I'm impressed. I will have to visit the bank to change the signatory right ?
Click to expand...

Yes

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Fred]

FixieHartmann said:
The setup fee includes the first years fee? So it is 8k the first year, 5k the second and so on?
Click to expand...

Yes.

erni said:
what is the downside of doing so? it can't be the same as a fully established Dubai company?
Click to expand...

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.

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[erni]

You can help against a fee @Fred ?

 

[Fred]

erni said:
You can help against a fee @Fred ?
Click to expand...

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

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[RealDude]

fshore said:
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?
Click to expand...

would like to know that too