Im talking about business accounts and PSPs for EU companies with UAE resident UBOs.
Dubai is dead, any alternative to the free zone 9% tax?
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Im talking about business accounts and PSPs for EU companies with UAE resident UBOs.
Removed from FATF but not removed from EU High AML tax list. Until it is not fully removed from this list it will be still problematic.
https://finance.ec.europa.eu/financ...ntent-anti-money-laundering-and-countering_en
Also I don't think removal will help a lot. UAE will still remain high risk country in view of banks and PSP
Are all of you guys moving away from Dubai? how many would you estimate from the total number of companies incorporated in Dubai will close or move their companies to other offshore jurisdictions?
Do you know a source for where we could find such figures or would such sources be manipulated as much in the UAE is ?
Do you know a source for where we could find such figures or would such sources be manipulated as much in the UAE is ?
It's on its way, trust me, predicted about the FATF, euro clearances are to be getting smooth, EU is on its way to remove UAE from money laundering list.
I suspect a lot are taking advantage of the 3-year “small business relief” exemption while assessing where to go next.
I believe the max exodus will be late 2026. Not only due to the expiration of SBR, but also because of the high likelihood of an oversupply of properties thus driving down the inflated property market.
As I understand it, you can request the SBR at the moment of filing the tax declaration, which means in 2025. Therefore, no one can say before this time how it works in practice
Do you have any information on why this can/should be done before 2025?
I may be mistaken, but so far my view is the same as in this article.
I paid and consulted 3 separate advisors yesterday and today.
Two of them told me need asap to register the company for tax and audit 2023 as they will ask for it to apply for tax relief (small business ..) in 2024. You have to pay tax for 2024 according to the law, why you mention 2025?
Two of them told me need asap to register the company for tax and audit 2023 as they will ask for it to apply for tax relief (small business ..) in 2024. You have to pay tax for 2024 according to the law, why you mention 2025?
It depends on when your fiscal year starts. If it starts on June 1, then until February 28, 2025. If from January 1, then until September 30, 2025.
But this year, you need to register for CT (the deadline for registration depends on the date of the company's license).
An audit is not mandatory for all companies.
In any case, I'm describing my understanding of the situation and I could be wrong. Perhaps your fiscal year starts on June 1, then everything can be (but not must be) done in 2024, including the SBR. In that case, your consultants might be right about the need to hurry.
Thank you so much for all this great info! My year starts Jan 1st if I remember correct.
Thank you
Having UAE company and facing significant issues with EMIs and I was wondering why.. Thanks to the amazing guys in one EMI and some amazing guys here I found out this https://finance.ec.europa.eu/financ...ng-financing-terrorism-international-level_en
How it's possible? And then we are discussing about UAE companies, + 9% + ....
Opinions?
How it's possible? And then we are discussing about UAE companies, + 9% + ....
Opinions?
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