UAE IFZA Office Space for banking

[yngmind]

Hey guys, I'm considering getting IFZA FZ. What will be the cheapest office option banks will accept?
I heard WIO is OK with shared offices.

If you have one, share your cost for maintaining the license and the office for the IFZA.

My friends pay $8-10k a year (license + office, no visas).

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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[cryptotree]

IFZA provides an address for you. WIO accepts this. Depending on what trade license you have you can also open a traditional bank account without an actual office.

 

[0xDEADBEEF]

Maintenance of license with IFZA directly is about 20k AED for visa, establishment card, license and shared office. If your friends are paying 32-40k for the same package, they should consider renewing through IFZA.

 

[yngmind]

cryptotree said:
IFZA provides an address for you. WIO accepts this. Depending on what trade license you have you can also open a traditional bank account without an actual office.
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Oh, that's nice. My friends told me the same stuff, do you know license will work without an office?

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely

 

[cryptotree]

yngmind said:
Oh, that's nice. My friends told me the same stuff, do you know license will work without an office?
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service related activities which you could do from home. For example marketing consulting and research.

 

[yngmind]

cryptotree said:
service related activities which you could do from home. For example marketing consulting and research.
Click to expand...

Thanks broski, gonna get IFZA then.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely

 

[csp dubai]

wio is probaly the only bank who will open you account with a flexi desk , affter they will close it you are fxxxx, isthe new strategy of banks in dubai

 

[JohnLocke]

csp dubai said:
wio is probaly the only bank who will open you account with a flexi desk , affter they will close it you are fxxxx, isthe new strategy of banks in dubai
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If that is really the case, I would contact the bank before opening an account and depositing money to clarify what my plans are and to determine if the bank can accept them.

I have a feeling that many people here act like the American police, shooting first and then asking questions later, only to wonder why they are punished.

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[cryptotree]

csp dubai said:
wio is probaly the only bank who will open you account with a flexi desk , affter they will close it you are fxxxx, isthe new strategy of banks in dubai
Click to expand...

I have opened other bank accounts without any issues

 

[Henn and Rich]

yngmind said:
Hey guys, I'm considering getting IFZA FZ. What will be the cheapest office option banks will accept?
I heard WIO is OK with shared offices.

If you have one, share your cost for maintaining the license and the office for the IFZA.

My friends pay $8-10k a year (license + office, no visas).
Click to expand...

You can obtain an Ejari (official rental contract) without actually renting any office and office pictures with your company signage (mainland companies only). Office visit for bank inspections possible also. I may or may not know such a person who can provide this service.

 

[Dandyline]

Henn and Rich said:
You can obtain an Ejari (official rental contract) without actually renting any office and office pictures with your company signage (mainland companies only). Office visit for bank inspections possible also. I may or may not know such a person who can provide this service.
Click to expand...

Many such services even on Bayut.

 

[Dandyline]

yngmind said:
Hey guys, I'm considering getting IFZA FZ. What will be the cheapest office option banks will accept?
I heard WIO is OK with shared offices.

If you have one, share your cost for maintaining the license and the office for the IFZA.

My friends pay $8-10k a year (license + office, no visas).
Click to expand...

Shared office from the FZ seems to be accepted by WIO. You need a residence visa and Emirates ID.

Around $8-10k/year is the average, including residence visa. Then you have the accounting and audits, which shouldn't be to expensive.

 

[yngmind]

IFZA gives you free office space for 1 year only, then you will pay like 6-10k aed a year.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely