A new Dubai Instant company License ??
- Thread starter talker
- Start date
- Status
The only reason why you need to go to Fujairah is to convert the driving license, but it’s valid for 10 years. I also go to Fujairah to renew my kids residence visas, simply because it costs me few thousands dirhams less doing it in person vs through the freezone visa service. There are no queues in Fujairah. I leave at 8am and I am back 2pm - once every 3 years not an issue.
One time setup cost for Company with 1 Visa and all the costs for the Visa application, Medical Test and Emiates ID will be around 7.000 EUR max. - yearly running costs 4.000 EUR max.
Keep in mind that especially when it comes to financial institutions outside UAE it really depends where do you have incorporated - beside of what was already mentioned here before.
CIM Bank for example only opens for Dubai and Abu Dhabi companies in 2021.
Keep in mind that especially when it comes to financial institutions outside UAE it really depends where do you have incorporated - beside of what was already mentioned here before.
CIM Bank for example only opens for Dubai and Abu Dhabi companies in 2021.
Worth mentioning, CIM will also require to have real economical substance in UAE (with real office, etc).
Maybe we are partnered with different financial institutions, but our clients do not face any issues when they request accounts with their UAE entities that is not necessarily Dubai.
As I mentioned before, the only advantage I can see is having Dubai entity if you plan to have︀ actual business locally.
Maybe we are partnered with different financial institutions, but our clients do not face any issues when they request accounts with their UAE entities that is not necessarily Dubai.
As I mentioned before, the only advantage I can see is having Dubai entity if you plan to have︀ actual business locally.
Yes that's right and as there is pretty much office space available in Dubai and 99% of our clients intend to live in Dubai it just makes sence in the bigger picture no matter if to the banks or to the brokers to have the company︀ in Dubai as well.
I get your point and don't want to start an offense︁ - as you can see here in the thread the opinions go in different directions︂ even from the members living here in Dubai.
I get your point and don't want to start an offense︁ - as you can see here in the thread the opinions go in different directions︂ even from the members living here in Dubai.
Some in UAE, most - outside. 😉
With UAE banks most important is whether you have a real office (in any Emirate) and how much money you run. Banks, such as Mashreq, are easier, and won't care about that at all. But you probably know that.
With UAE banks most important is whether you have a real office (in any Emirate) and how much money you run. Banks, such as Mashreq, are easier, and won't care about that at all. But you probably know that.
I assumed so thu&¤# , to be honest when clients are not prepared to pay for substance or forfil residency requirements I go outside of the UAE.
Without residency then definitely an outside bank but that just becomes a pain in the butt.
f**k CIM bunch of clowns!!!!!!
Without residency then definitely an outside bank but that just becomes a pain in the butt.
f**k CIM bunch of clowns!!!!!!
I doubt this is possible. I do generally agree that it makes better sense these days to incorporate in Dubai vs in smaller Emirates, not only because of banks, Dubai residence etc, also because of political situation, where all other 6 Emirates depend on Abu Dhabi immigration control policy (including foreign nationals quota) and foreign travel policy (ICA) vs Dubai (GDRFA).
However realistically speaking the︀ running costs of proper business of €4000 a year could may relate to annual renewal︁ of trade license only. Any basic accounting package which includes bookkeeping and VAT reporting is︂ at least AED 12.000 per annum (these are standard market rates). That's already €7000. Then︃ you have to add audited accounts (surely at least AED 1000+), rental office if required︄ for the substance, ESR advise and filling etc. Legal fees for compliance review and ESR︅ filling for very basic setups can easily reach over AED 4000.
However realistically speaking the︀ running costs of proper business of €4000 a year could may relate to annual renewal︁ of trade license only. Any basic accounting package which includes bookkeeping and VAT reporting is︂ at least AED 12.000 per annum (these are standard market rates). That's already €7000. Then︃ you have to add audited accounts (surely at least AED 1000+), rental office if required︄ for the substance, ESR advise and filling etc. Legal fees for compliance review and ESR︅ filling for very basic setups can easily reach over AED 4000.
To better understand:
Which is the cheapest Emirates installment to get a resident Visa (not just for tax purpose but also to visit and stay in Dubai for a few months - EU passport)? With the Ajman Free Economic Zone can I get a Visa to stay in Dubai? Do you have an idea about costs for setup and a visa?
Which is the cheapest Emirates installment to get a resident Visa (not just for tax purpose but also to visit and stay in Dubai for a few months - EU passport)? With the Ajman Free Economic Zone can I get a Visa to stay in Dubai? Do you have an idea about costs for setup and a visa?
Yes, with Ajman FZE you can also apply for a UAE visa and Emirati ID. You can freely live (like many others do) in Dubai with such a visa.
Send me an email so we could schedule a complimentary︀ call. I will invite my partner, who is a lawyer and international tax advisor. Both︁ we will answer any of your questions.
Send me an email so we could schedule a complimentary︀ call. I will invite my partner, who is a lawyer and international tax advisor. Both︁ we will answer any of your questions.
- Status