Moving UAE Freezone Company To Cyprus

[Peter2023]

My Freezone company owns owns properties in my home country in Western Europe.

can I redomicile the company to Cyprus? Has anybody done anything like this and what does it entail?

Can I set it up with the same name in Cyprus and open an office there and then liquidate the Dubai company? Or do I need to keep paying the Dubai fees also

 

[CyprusLaw]

Peter2023 said:
My Freezone company owns owns properties in my home country in Western Europe.

can I redomicile the company to Cyprus? Has anybody done anything like this and what does it entail?

Can I set it up with the same name in Cyprus and open an office there and then liquidate the Dubai company? Or do I need to keep paying the Dubai fees also
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Hi Peter,

I will PM you about this.

 

[JustAnotherNomad]

Peter2023 said:
Can I set it up with the same name in Cyprus and open an office there and then liquidate the Dubai company?
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The simplest solution would probably be to sell the real estate to the new company, but that might trigger tax in the countries where the real estate is located.

 

[5K1PP3R]

stay away from Cyprus, that's a major сlusterfuсk. 5 lawyers will give you 5 different opinions. You will end up with incompetent idiots. They all offer a free initial consultation when they say everything is gonna be fine. But that's only 1st consultation

 

[CyprusLaw]

5K1PP3R said:
stay away from Cyprus, that's a major сlusterfuсk. 5 lawyers will give you 5 different opinions. You will end up with incompetent idiots. They all offer a free initial consultation when they say everything is gonna be fine. But that's only 1st consultation
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I do respect the fact that you probably have a bad experience with Cyprus. BUT, I will give my two cents here, from my experience 90% of the clients prioritise the cost therefore tend to find cheaper lawyers, service providers etc, and unfortunately in most cases price also reflects competency.

Additionally, in a lot of cases things go wrong because of the client who is not cooperating or is not making full disclosure of infomration etc.

Would be happy to hear more about your experience with Cyprus

 

[JimBeam]

What's the reason behind this?
Why do you want to close the FZ company?