Ldt. in UK for EU - HQ in UAE as F.Z.E

[0ecomoff]

Hi,

I have an F.Z.E from the UAE and live there. I have some retail customers in the EU and often times they don't trust the F.Z.E.

Is it a good choice to go for a Ldt. from the UK as a subsidiary? If yes, can someone point me to the direction where I can get it done professionally with UK registered office (found one for 149 GBP)?

 

[whiteboardfriend]

Hi 0ecomoff,

You can't go wrong with a UK LTD when it comes to EU‌ customers, I got mine done with 1st formations. Their prestige package is at a‍ discount at the moment and it costs £69.99 and you get a registered office with⁠ it. If you have any questions about the sign-up process, let me know and I'll⁤ get back to you asap.

 

[CaptK]

How do⁤ you take payment?

 

[0ecomoff]

Thanks, I will bookmark it.⁣
So far with my bank⁢ accounts from my home country. I really need to get a bank account at the︀ UAE, but it seems to be not that easy with the freelance package.

 

[rowena]

@0ecomoff
Do you have a freelance license or an FZE company?

 

[0ecomoff]

The freelance package gave me an F.Z.E

 

[rowena]

Apply to mashreq‌ neo biz bank account. if you have DEWA bill then they should accept you.

 

[0ecomoff]

I already applied for NEO but can not‍ get an account and password remotely. I will be in the UAE again in 2-3⁠ weeks and will take care of everything. Thanks for your advice about the DEWA bill.⁤

 

[Fred]

If you⁠ are not able to get a DEWA bill or it's simple not worth it for⁤ you to rent a private flat the whole year - let me know I can⁣ mention you few banks that are still open without private flat in UAE.

For your⁢ initial question go with an UK LLP instead of the Ltd. - you can form︀ the UK LLP with your FZE as one partner and the other partner is yourself.︁

 

[IBO Panama]

I did this but i was not able⁢ to open any UK bank account as non resident LLP.
Do you have any answer︀ to this solution?
By the way I have contacted DLS but didn't get an answer.︁

 

[CaptK]

Bankera do⁠ open for LLP's with directors or companies in different jurisdictions but it's not guaranteed.

 

[Fred]

Payoneer is⁠ best for classic e-commerce and receiving money from merchants like PayPal and Stripe. Payoneer accept⁤ non resident LLP.

As you get local UK bank details you can withdraw very easy⁣ from UK PayPal because they want to see local UK bank details for withdraws so⁢ Lithuania EMI that provide EUR IBAN don't work.

Send you PM.

 

[IBO Panama]

Hi thanks for your generous⁠ answer but i just checked now they don't have option for LLP, but i see⁤ partnership.
Can i put it as partnership?

 

[Fred]

Exactly it's just a general form thing of payoneer based on the US‍ entity forms they will approve you straight away and if you only receive money from⁠ merchants never ask any questions.

 

[unknownaussie1996]

Would having a UK LLP owned by Dubai⁢ FZ cause you to be classified as a "holding company" and therefore have to file︀ for ESR requirements?

Also have you heard of any issues of neo banks e.g. Wise︁ or Airwallex not allowing you to open a bank account with the Dubai FZ company︂ as a partner, due to UAE being on the grey list?

 

[Gediminas]

You can⁤ set up a UK partnership (LLP) with a partner that is your UAE company.

UK partnership would not be taxable in the UK, so you would attribute profits to the⁣ company in UAE.

UK LLC is also an option, it would be easier with banking.⁢

You can set up LLC and then invoice it from a Dubai company.

UK branch︀ of Dubai company would be much more difficult.

 

[unknownaussie1996]

thank you for your reply, really informative.

When making your Dubai FZ company a partner⁢ in the LLP, that wouldn't make you liable to file an ESR right?

 

[canomad]

I am wondering this as well. I have this set up with⁠ US LLC and my accountant is saying i have to file ESR as its a⁤ connected company. I really dont want to do this as my Core income generating activities⁣ are oustide the UAE. I may have ot make monthly trips and actualy batch my⁢ work