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Best setup to live in Dubai without doing business?

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Feb 7, 2020
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I'm looking to set up some sort of a an offshore/freezone company in the UAE or get a freelance visa which will allow me to live in the UAE and do personal banking there but i don't really need the company to do any actual work as my setups in other countries are fine for now.

So my question is what would be the best set up in the UAE purely from a residence visa perspective? I need to to be easy enough to open a personal bank accounts and live a normal life as a resident without having to jump through hoops.
 
Thanks that's super helpful! I'm 30 and yes technically i⁣ would be a remote worker so that might work best for me. I'll look into⁢ this
 
Actually, i just had a read-through of the ^ remote⁣ work visa. Couple of things that won't work for me are its for 1 year⁢ only (i'm looking for longer term) and the i have to show a monthly income︀ of $5000 which i don't have officially.

In that case maybe a freezone company is︁ a better option?
 
Yes, freezone company is one of the fastest and best.
Freelance Visa will be cheaper‌ option.

gofreelance.ae
 
I am also looking into this now as‍ biz has been ok recently.

Anyone knows a good incorporation agent and fees for DMCC?⁠
Are they ok with dormant / low activity business?

Or does DMCC handle it well⁤ themselves.
DMCC has prestige so that seems good in this part of the world.
 
Dear ,
Do not pay any agent you can directly go through their website .‌
Submit your application to their website .

www.dmcc.ae
dic.ae (Dubai Internet city )
creativezone.ae

For DMCC

  1. Business activity: (attached is the list of activities provided by DMCC)
2. How many‍ shareholders (Individuals/Corporates):

3. Residency visa requirements required the first year:

4. Property/office solution you are⁠ interested in:

DMCC is currently running new promotions such as the below:

  • Up to 50%⁤ reduction on the total company set up fee, along with a Flexi Desk for 1⁣ year
  • Flexible payment options for new DMCC Business Centre tenants
  • Complete digital process for business⁢ set up from the comfort of your home

Dubai internet city

Initial process (stage 1:︀ No cost, approval on business plan, security clearance, & purposed name of the company)

To start off the procedures, you will need to complete and email me the below mentioned︁ documents:

  1. Application for License (form attached)
  2. Business Plan (as per template)
  3. Passport copies for all︂ the shareholder(s), director(s) and manager
  4. Select an activity for the company (from the list attached)︃


After obtaining the necessary approvals, I’ll be sending you the legal documents to complete, as︄ discussed we usually send the legal documents after the initial approval is granted.

Stage 2-︅ Legal documents (payments to be made after the legal documents submission)

After the initial approval︆ is granted we send a set of legal documents (templates) as per the company shareholding︇ structure to be completed. Its recommended to complete the legal documents only after the initial︈ approval is granted.

Costs to incorporate:

License fee: AED 15,020 (annual)

Registration fee: AED 3,520︉ (one time)

Share capital: AED 10,000 (minimum – refundable/ Not applicable for Branch of a︊ Foreign company).

Lease fee: Depends on the space (80 sqft = grants you 1 visa)︋

Establishment card: AED 2,000 (annual)

Employment visa: AED 3,361.87 per employee (3 years) outside the︌ country/ AED 4,991.87 inside the country

Visa deposit: AED 2,500 per employee

For the lease,︍ please find the below:

** Minimum option is AED 25,000 which is a shared desk︎ at the business center which grants you two visas.
 
Nice thanks for this detailed info.

With dubai internet city, are bank account openings possible?
I assume with dmcc no problems, whereas I read RAK and others it is mostly impossible︎ now.
 
If business is good and genuine , all paper work sounds good than there is‌ no problem.
In Dubai internet city
Big name are there so there will be no‍ issue of bank account .
 
If you still need help there is a co working startup they also provide Business‌ licensing service .

https://www.letswork.io/licensing
If you have problem with freezone,
there is an another solution‍
"DUBAI MAINLAND CO-WORKING LICENSE"

with 100% ownership no local partner needed.
 
Free Zone Entity is better option. Chose cheaper freezones (not Dubai or⁣ Abu Dhabi) which may cost you 8000$/year (3-year Visa). Rent an apartment and use information⁢ to apply for personal bank account like Mashreq Neo easily.
 

Dubai Internet City Free Zone​

Prices starting from
AED 7,500 (freelancer licence)

Cheap and quality‌ freezone
 
S
Sharjah, Ajman, UAQ... If you don't‌ plan to open business account, there may be no need to rent flexi desk which‍ costs ~15 AED/year. So register Free Zone Entity, apply for 3-year Visa, rent an apartment⁠ to live in Dubai and apply for personal account.
 
If something is cheap, there is a reason for that .
For Cheap free zone‌ very difficult to open account.
 
Yes. Cheap FreeZone is difficult to open business account, but the topic owner is asking‌ about residence visa and personal account only.
For business account, bank KYC is always difficult‍ and you need legit documents of your previous/current business to prove. Start with small banks⁠ and run accounts for few months before approaching bigger banks. Banks will challenge you with⁤ questions about your transactions, Invoices, PO, BL etc. So prepare well
 
Personal account should be quite easy to open if⁤ you have the residence permit?
 
Yes, after having Emirate ID and your address at UAE with‍ utility bill to prove (even Banks may not need it). Thing will be very easy⁠
 
What do you think, how easy will it be, just a walk into the⁠ bank and that's it?
 
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