Goodbye to Dubai and all UAE Banks friendliness?

[Kakarot]

i use this site as reference:

https://gsl.org/en/offshore/offshore-zones/
click on middle east to expand -- and‌ it lists a bunch of UAE zones and prices per year, and per 2nd year‍ of incorporation.

Are these ALL the available options?

Which of these could get bank accounts?⁠ And which are unlikely to succeed like RAK etc?

I think that's a critical question⁤ here. I cannot figure out which UAE company to form.

If I spend too little⁣ -- maybe no possibility to get the bank account.

If I spend too much, annual⁢ fees could make a UAE company more expensive to upkeep than singapore or Hong Kong︀ or Romania etc etc -- many jurisdictions which are probably more reputable than UAE --︁ at least a bit.

So determining which of these zones is best and most well︂ rounded seems tricky.

ESPECIALLY in light of these new banking restrictions there which this thread︃ is all about.

 

[Fred]

That's it.

You can't have everything and expecting to pay nothing.

Pay more for a Dubai Company to have a chance to get banking or pay less‍ for a Fujairah Company and have close to zero chance to get any banking.

If you safe on the setup costs you will regreat it and pay twice if you⁠ can't get any banking for the cheap company.

 

[CaptK]

I have had a few⁣ OP's come to me because they registered RAK and Ajman companies and can not get⁢ banking.
They ended having to get a whole new solution.

I have had 2 clients︀ (one recently) that even had an issue getting residency. No criminal record, nationality or any︁ issues with them personally.
You are entitled to residency once you register a company but︂ you are still at the mercy of the Emirate your in.
This was a very︃ rare case but because we don't know how the original agent did the application we︄ don't know what they did wrong.

Once we set them up a new company they︅ got it straight away.

 

[BlueMist]

You are wrong @CaptK by saying you are at the mercy of Emirate you are‌ in. All visas apart from Dubai are decided and issued by Abu Dhabi. The 5‍ Emirates decide about nothing when it comes to residence visa issuance. There are quotas for⁠ nationalities in the UAE, Abu Dhabi and Dubai have different quotas. Once these are reached⁤ the visas are getting rejected. Few weeks later this can change and the same person⁣ visa could be approved.

 

[troubled soul]

Where do you find this info⁢ ?
I never heard any kind of "Visa quotas"

 

[BlueMist]

Because you have never heard doesn’t mean they don’t exist.‍ Of course these are not public quotas but if you talk to Arabs who have⁠ lived here for more than 20 years you will learn about this. I have Egyptian⁤ friend whose visa was rejected due to this and it didn’t matter his employee was⁣ top Abu Dhabi bank and he was working in the banking industry for many years⁢ here. That’s why Dubai residents of certain nationalities are often afraid to change to sometimes︀ better paid job in Abu Dhabi exactly because of these nationalities quotas and risks of︁ being rejected.

 

[Nasters]

If this is the case and it happens to someone, who will be︀ responsible for all the customer's costs? the customer or @Fred and @CaptK ?

Is a︁ risk

 

[BlueMist]

There is always a risk and residence visa is simply not⁠ guaranteed. Agent did his job, the rest is up to Abu Dhabi or Dubai. Dubai⁤ has more relaxed quotas which is always safer to choose to incorporate. Dubai has its⁣ own travel policies regulated by GDRFA (for Dubai residence visa holders only), while all other⁢ 6 Emirates go through ICA. Same with the COVID vaccine. Living in Dubai on non︀ Dubai visa you are officially not eligible to be vaccinated by DHA. DHA won’t issue︁ MRN automatically to non Dubai visa holders. Yes there are exceptions and if you send︂ them a proof of living in Dubai they will issue you MRN and you can︃ book your Pfizer shot. I wrote it before already that the pandemic has shown to︄ better get Dubai residence visa and Dubai company, especially if you intend to live in︅ Dubai.

 

[Fred]

We work mainly with Europeans - never had a reject of⁠ the Residence Visa for this guy's even from Australia, New Zealand, Japan, USA and India⁤ - no issues.

For the more exotic ones like Pakistan, Bangladesh and Nigeria we can't⁣ speak for as we don't work with such countries. In general because of the high⁢ risk status of the country even if they get residence Visa the bank account opening︀ hassle isn't worth it.

Out of 100's we had one client that failed the Medical︁ Test and we decided to share the "loss" for setting up the Dubai Company -︂ of course not our responsibility but that's the difference if you choose not some discount︃ service provider.

 

[CaptK]

Ofcourse there is a quota but⁢ right now the government are missing out on revenue from shopping and tourism. For the︀ case in point I just did a RAK ICC (worst company to buy) for a︁ client last week Zimbabwe national who lived in the UK. Went through no problem!!

This individual is a Belgium national has been to Dubai over 10 times, never over stayed︂ or done anything wrong. His business turns over 1M a year and has 500K in︃ savings. Rejected!!!!!!! with a RAK FZE and proper office but he is able to employ︄ 2 staff members who received their visas. Both never been to Dubai!!

It is very︅ very rare that an application is rejected without a reason.

 

[CaptK]

You can only fail the medical test if you test positive for︂ HIV, Tuberculosis, Syphilis, and Hepatitis B. Blood test and chest X-ray.

HIV can't be cured︃ but the other 3 can and go back once you have received treatment.

 

[Fred]

This guy was HIV positive - after 2 months he went back to Dubai with⁤ a faked test from outside - managed to get him out of the country without⁣ prison.

A story for a beer!

 

[Nasters]

the prisons in that⁠ country must be scary, and maybe you will never get out of them

 

[Gediminas]

I imagine what would happen if they‍ also check THC levels during this test...

 

[Martin Everson]

"British tourist Keith Brown was sentenced to four years in prison after Dubai customs‌ officers found a 0.003g trace of cannabis stuck to his shoe."

😕

http://news.bbc.co.uk/2/hi/uk_news/7234786.stm

 

[Fred]

Last Updated: Friday, 8 February 2008, 14:18 GMT

 

[BlueMist]

Ah those famous "innocent" Brits lol , like this female teacher‍ who died of drugs overdosing in First Class lounge in UK before departure to Dubai.⁠

You don't have to believe in everything you read @Martin Everson 🙂 It's just people who⁤ are dumb as F thinking they can play or trick the system. Like the story⁣ of Fred's client coming to Dubai with faked tests. Who in their right mind is⁢ doing that?

 

[Golden Fleece]

Did you even bother reading the article? How⁤ is traveling to Dubai with Melatonin "dumb" or tricking the system. I take Melatonin every⁣ night an hour before bed and I also travel with it. The article itself said⁢ that you can buy it in Dubai, so why was someone arrested for bringing it︀ into Dubai?

Melatonin and poppy seeds? On this basis alone, I would not travel to Dubai, much︅ less live there.

On a related note, my insurance company previously provided up to $50,000︆ in insurance for any shipments to Saudi Arabia. I recently discovered that so many shipments︇ of ordinary items are now confiscated by Saudi Arabian customs that the insurance company no︈ longer offers insurance for Saudi Arabia. The Middle East is simply insane.

 

[JohnLocke]

I totally agree here, you get what you pay for, if you are low on money‍ you don't want to go this route anyway! I also agree you should not pay⁠ an overprice, but in this industry I personally learned that prices and service is close⁤ connected. You can find some really cheap services and you you will realize that you⁣ did a bad mistake after you paid.

 

[BlueMist]

I think there is much more‍ to the stories we are not being told and UK press if famous for defaming⁠ UAE in this way. There is a guy who brings baking grade poppy seeds from⁤ Europe (if you can't miss 0.02 you can't miss a full bag of poppy seeds⁣ either being brought more than once) and he was never held or anything. In fact⁢ he was not aware until I made him aware.

There are people who have been︀ living here for more than a decade and somehow nothing happened to them despite plenty︁ of travel trips including trips to Amsterdam for obvious reasons.

Also never say never. I︂ know a very rich guy who was always against muslim countries and somehow since recently︃ he seemed to forget what he was saying years ago. He is a regular to︄ Dubai now with his family 🙂