Dubai company formation
- Thread starter Asgard0
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Just do it yourself. There's not really any need to use service providers, unless you have very specific needs.
I read that its complicated, especially getting a business and personal bank account. No bank, no income, no money.
If its a fair price im okay with paying a service fee.
You can contact @Gediminas
But are you aware you will have to pay 9% corporate tax on profits over AED 375k?
But are you aware you will have to pay 9% corporate tax on profits over AED 375k?
Feel free to get in touch, will be glad to assist
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TG: @ClearskyPayments
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I thought for the next 3 years there is the option to opt in for the small business relief. With that in mind, is it true that a newly formed company can apply for it
Without bookkeeping/audits, how will the UAE know they are making less than 375 AED?
they won't and you will get fined!
How can you setup your company yourself, is all in English ?
Basic bookkeeping is enough. Annual audit reports are mandatory but cheap. Starting from 500-1000€. I read that mostly Indians are going to do that.
Everything is available in english but especially the banking sector needs someone that is warm with the contact person of the bank.
License alone costs 5 thousands. Most services charge 10 thousand with virtual office (which you need for a bank account). That fee is fair if everything gets done well.
License for what?
I suspected that! Audits will probably be required. The cost is going to skyrocket. This will be big business for accounting firms. Will the accounting firms be liable for their mistakes?
Ahhh...OK... a Freezone License to operate a business. Got it. I thought it was a different kind of license.
You can also set up a mainland company. Not really much difference anymore if you don't have qualifying income anyway, as far as I know.
Free zones may have a bit better service, but I would guess that even that is getting better.
I'm pretty sure the VAT rules are exactly the same both for mainland and freezone companies.
VAT is only relevant if you have UAE clients anyway. If all your clients are outside the UAE, I believe you can apply for an exemption. If you don't apply for the exemption, you have to file VAT returns, even if they are nil.
VAT is only relevant if you have UAE clients anyway. If all your clients are outside the UAE, I believe you can apply for an exemption. If you don't apply for the exemption, you have to file VAT returns, even if they are nil.
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