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]

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]

Just for‌ the name =D

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

 

[Nikonja]

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

Thanks