I don't understand what do I have to do (UAE 2024)

[Offshore13]

I wouldn't worry about being⁢ on a grey list; that's more of an EU standard that doesn't really affect most︀ people. If you're from the EU, UK, or any non-greylist country, you shouldn't have any︁ trouble opening bank accounts or doing business. It's not worth it to go for the︂ cheapest option; I've actually lost more money trying to save on costs than if I︃ had just gone with a strong company structure. If you're considering Marshall Islands, Belize, or︄ Seychelles, it's better to use them as a subsidiary rather than your main company. For︅ safety, I think setting up in the UAE (FZE or Mainland) with residency is the︆ best approach.

I really dont know︉ about that but I would not test this as one day you might fly to︊ any of these countries and forgot about it and then you might get a bad︋ surprise. In business always keep clean records you never know. Its my personal advice, maybe︌ legally then cannot even touch you

 

[JackieTsan]

Keep records man! respect them as⁠ they respect you! You get in an agreement, respect it!
Same as uae I am⁤ typical 100%, don’t like anymore what they offer? You Tell them ciao habibi and move⁣ to other “agreement”.
Been typical and respectful is not only mandatory for you; but if⁢ you’re not the rules will change. People that are not following the rules are making︀ these authorities ask harder requirements.
Would be the most important to be respectful to any︁ “engagement” you get in.

I’m from eu yes (and eu passport), living outside 10 years and more.
How you can use Marshall or Belize as subsidiary I don’t understand. Please can you kindly︊ explain? Marshal has ESR can’t be used to save amounts and this is illegal if︋ you mean this. (Having a company in uae and use Marshall as expenses- supplier), correct???︌ That is againest ESR or I am wrong?
I can do this if it’s legal!!︍ And send expenses to UAE OFFSHORE (rak) so will not be taxed there.
According to︎ ESR tha Marshall has, it’s not.
Please correct me if I’m wrong!
Also, are you️ a consultant? I'd extremely appreciate it if you can help me (paid service of course)‌ to figure out what to do!!!
Hundreds of thanks for your time @Offshore13

 

[sergeylim88]

i was just asking a hypothetical question
i have no companies (At the moment) in‌ any of mentioned countires, but I was just thinking out loud
@Martin Everson and @JohnnyDoe what do you think? you guys have a lot of experience with those island countires‍
honestly i even doubt anyone would make an audit

for UAE is clear, you have⁠ to do everything by the book.

 

[JackieTsan]

for UAE everyday is⁣ getting more clear : run away as many members here suggested but I still try⁢ and have hope

 

[JohnnyDoe]

sergeylim88 said:
i was just asking a hypothetical question
i have no companies (At the moment) in any of mentioned countires, but I was just thinking out loud
@Martin Everson and @JohnnyDoe what do you think? you guys have a lot of experience with those island countires
honestly i even doubt anyone would make an audit
Click to expand...

You just have to worry about VAT, import duties and property taxes. It's up to you to decide how much to give to the state, if you prefer to live a simple life you can end up paying almost nothing. Nobody cares about what you do abroad.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[sergeylim88]

here we are talking about ibcs (offshore companies not doing anything on their soil), so‌ that means no one will care, just like i figured
thanks for the input

 

[JackieTsan]

4 years back discussion; i wouldn't say to trust it at this point as⁠ A LOT have been changed.

 

[Martin Everson]

BVI and 11 other tax havens⁠ already automatically share data with home country of BO where they are non-resident and company⁤ has no economic substance - see below. It may cause you issues in your home⁣ country however if they get a report through depending on if your governemnt is even⁢ interested in hearing about the striking off.

https://www.offshorecorptalk.com/th...es-with-no-substance-with-ubos-country.36103/
In general those small countries are powerless︀ to do much other than let the company be struck off like below.

https://bccar.bz/elliot-management-group-inc-no-30614/

 

[JackieTsan]

Home country OR/AND country of residence?

 

[Martin Everson]

Residence only.