Dubai Virtual Commercial City (vcc)

[Runway]

Anyone tried sending an email to the address mentioned here to ask which Bank would consider opening an account for a VCC ?
https://vccdubai.ae/page/interested_in_opening_a_bank_account.aspx

 

[WoWNull]

Runway said:
Anyone tried sending an email to the address mentioned here to ask which Bank would consider opening an account for a VCC ?
https://vccdubai.ae/page/interested_in_opening_a_bank_account.aspx
Click to expand...

At the moment there is no bank accepting, better to wait for next year to get more information.

 

[Elitegold7]

Dubai is blacklisted by EU for Money Laundering. All local banks are in mess & merging to save arse due to massive business loan defaults & over exposure in Real Estate. Its virtually impossible to get a USD or EUR account if you are a new Local company. An AED account might take 2 weeks. Yes i am talking about a Local company.

 

[Nikonja]

Hi!
Has anyone managed to get Virtual company license?
I applied and got the email that I am DEDapproved but that I need some validation and they provided me with the email where I need to write for further information.
I wrote several times but got no reply

I would appreciate any help if someone has experience with getting Virtual company license.

Many thanks

 

[NicolasMaduro]

So this is what I know about this amazing UAE company type:

1. sole proprietorship meaning you are liable for eveything you do
2. you cant get a bank account anywhere, except for transferwise who gives to everyone
3. you dont get 0% tax, because you are basicly taxed where you live and run the company anyway

So why would anyone create this company type? I only see it make any sense for local residences in UAE.

 

[WoWNull]

NicolasMaduro said:
So why would anyone create this company type?
Click to expand...

Just for the name =D

NicolasMaduro said:
I only see it make any sense for local residences in UAE.
Click to expand...

Not allowed for residences, it's only for non-residence.

 

[Nikonja]

NicolasMaduro said:
So this is what I know about this amazing UAE company type:

1. sole proprietorship meaning you are liable for eveything you do

So it is not limited type of company?

2.you cant get a bank account anywhere, except for transferwise who gives to everyone
TransferWise is ok with me, if it can be connected to such company.
Do you know if it can?

1. you dont get 0% tax, because you are basicly taxed where you live and run the company anyway

So why would anyone create this company type? I only see it make any sense for local residences in UAE.
Click to expand...

Is there a better option?
I read something about Virtual company in Georgia.

Thanks