UAE Company formation Question

[pinger]

Hello!

We are looking to open a company in the UAE. Can someone here translate this to us and basically explain what these posts are saying (as you can tell we are new to this). Does it look correct or is it sprinkled with “additional” BS fees?

See attachment

We are looking for into this solution for the purpose of sales of replica products/services online where we can accept debit card.

Appreciate the input!

 

[Sols]

Pricing looks reasonable. You can find cheaper, and you can find more expensive. If you like the service provider and they are licensed and reputable, it doesn't look like you're being ripped off.

You're spending way too much on a replica business, though. Replica businesses are usually temporary companies set up with nominees/false identities in EU and US, where incorporation is fast and cheap.

Merchant accounts are easily and quickly lost, and you need to set up a new company. It's going to get expensive to pay 26,110 AED every couple of months, just for company formation.

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This is the probably the answer to your question.

 

[pinger]

Thank you for your reply!

Im assuming there is many merchants to go through before the company itself is useless?

I know its maybe not the beat solution so do you have any other tips for us regarding accepting debit card selling IPTV?

Im following a guy's journey here (Kohls) were he is posting some high risk merchants he was using to accept debit card. Our first thought is to try an apply with those but other than that we are unfortunately clueless about the situation”¦

Ive been searching for a solution to our debit card problem for awhile and still havent managed to find a solid solution

Sols said:
Pricing looks reasonable. You can find cheaper, and you can find more expensive. If you like the service provider and they are licensed and reputable, it doesn't look like you're being ripped off.

You're spending way too much on a replica business, though. Replica businesses are usually temporary companies set up with nominees/false identities in EU and US, where incorporation is fast and cheap.

Merchant accounts are easily and quickly lost, and you need to set up a new company. It's going to get expensive to pay 26,110 AED every couple of months, just for company formation.
Click to expand...

 

[Sols]

pinger said:
Im assuming there is many merchants to go through before the company itself is useless?
Click to expand...

What do you mean? If you open merchant accounts for your UAE company and it gets banned, it's usually the whole company (plus directors and UBO) that end up on the Visa and/or Mastercard blacklist.

pinger said:
I know its maybe not the beat solution so do you have any other tips for us regarding accepting debit card selling IPTV?
Click to expand...

Most merchants in these types of businesses set up burner companies with nominee or synthetic directors/UBOs. These last for a few months at the most, before which they take as much money out as they can, and switch to a new company/website. Customers are informed via social media, Telegram groups, chat groups, about the change.

Another option is to work with a processor that does that bit for you. They can be hard to find without the right connections, though. It costs more but usually tends to be more stable than creating and losing your own merchant accounts over and over.

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This is the probably the answer to your question.