NON-CRS SETUP: Dubai Company with FREE Residence Visa and Bank Accounts! - DLS Dubai
- Thread starter Fred
- Start date
hello, Fred, can you share the updated price for 1st year and 2nd year for your full package?
Did sent you PM to determine your Risk Category.
I know I did drop - 2-3 years ago - prices in EUR however they are no longer accurate due to the fact we work in AED which is pegged to the USD and EUR lost a lot of value since then.
Toggle signature
Hi @Fred
I'm a bit confused.
1. The main idea of your setup is that you can have a corporate/personal bank account in UAE that will not be reported to the country where you are a tax resident?
2. CIT in UAE will soon increase to 9%. Is that applicable to the companies you set up? Will that mean bookkeeping for the company is required?
Thanks
@Fred
Do you offer rent a company services?
Last edited: Mar 14, 2023
I'm a bit confused.
1. The main idea of your setup is that you can have a corporate/personal bank account in UAE that will not be reported to the country where you are a tax resident?
2. CIT in UAE will soon increase to 9%. Is that applicable to the companies you set up? Will that mean bookkeeping for the company is required?
Thanks
@Fred
Do you offer rent a company services?
Last edited: Mar 14, 2023
The main idea of the Dubai Setup is that you get through the Dubai Company Formation the possibility of a Permanent Residence Visa in Dubai as well which then again leads to opening local Bank Accounts in Dubai as a Resident.
In our opinion is non-resident banking dead - especially for transactional Business Banking - unless it's Private Banking / Wealth Management.
Example:
You are based with your Residence according to your name in Europe @European and you setup a Company in the Seychelles - you have no ties to the Seychelles beside of the Offshore Company which is due to it's Offshore Status no connection to the Seychelles either - therefore you won't get any local Banking in the Seychelles and you need to look in other places - which automatically leads you to questionable Banking Jurisdictions like Belize, Vanuatu.
Let's say you are fine with parking your hard earned money in a Bank in Belize (which we hope you don't) - what personal address of yours do they put on file? Your European Address as you don't have any other Residence outside the EU and definitely not a Tax Free Residence like you get it here with us in Dubai.
So even when you are fine with Banking your money in a Banana Republic - if you can call this even banking (search the forum for Caye Bank or Hamilton Reserve Bank) you get reported at the end of the year to your home country tax authorities due to your EU address the offshore bank has on file.
So it's necessary to look at setups which grants you through the Company Formation or an Investment a Permanent Residence - optimal a 0% Tax Residence - this leads you automatically to the Dubai Setup we provide.
NO. We setup only Freezone Companies in Dubai and therefore our clients with Freezone Companies remain 0% Corporate Tax.
Only Mainland Companies are - no matter what - taxed at 9% Corporate Tax.
You can find several articles here in the forum about it as well.
NO. We don't.
Re- consider such services as you risk to loose your money by such services blocking your money in the bank account which is not in your name neither you have any ties to.
This was again already discussed here on the forum and why you should avoid such services.
Toggle signature
Thanks @Fred for the comprehensive answer
Can you please PM me? I have some further questions about setting up the company in Dubai.
Hi Fred, I'm interested to know more about your services in Dubai, can you PM me so I can elaborate my needs so you can give me the actual price. thanks
today I got an email:
Apparently CBD was one of the few options available for Russians. But I wasn't aware that I was supposed to keep 100k USD there. Is it something new or did I miss such an important point when opening the account?
Last edited: Apr 3, 2023
Apparently CBD was one of the few options available for Russians. But I wasn't aware that I was supposed to keep 100k USD there. Is it something new or did I miss such an important point when opening the account?
Last edited: Apr 3, 2023
Hello @5K1PP3R ,
this is offtopic and should be sent by PM.
However for transparency reasons we can keep the conversation public - if you don't mind me mentioning personal information.
@5K1PP3R we pushed you last year through for CBD Business Banking together with all other Russians / High Risk Passport Holder. CBD was fine with it because they started new into SME Banking.
However later last year there risk appetite went back to normal and earlier this year new High Risk Clients need to maintain a 375000 AED average Balance - it needs to make sense for both sides at all the time.
I can confirm you here that no one else got so far the notification and I guess that's why they actually use the account and I suspect that's the issue here in your case - High Risk Account without any movements doesn't make sense for the bank as it is a risk without any reward.
Don't worry - DLS Dubai wouldn't be DLS Dubai if we wouldn't have a couple of solutions in the back hand - just message the DLS Dubai Team or directly me.
Toggle signature
Hi Fred, I believed I contacted wrong person and almost get scammed.
Please check ... he wanna take my money without confirm here from you....
They used fake Telegram account at @dlsdubais instead of @dlsdubai
Please let me know how I can contact you by correct way. Im ready on-board and making payment now
Please check ... he wanna take my money without confirm here from you....
They used fake Telegram account at @dlsdubais instead of @dlsdubai
Please let me know how I can contact you by correct way. Im ready on-board and making payment now
Attachments
-
Screenshot_20230506_133624_Telegram.webp
17.1 KB · Views: 24
Are you serious? It can't be that complicated.
Everywhere is his banner, just click on it and go to Contact, the respective messengers are even linked you just have to click on it.
If you are too unsure to have done this correctly, then ask for a short phone call or other verification.
This is correct - see below.
However you can always go through dls-dubai.com - our E-Mail, WhatsApp and Telegram is linked on our website.
We did helped in the past a lot of people to recover there funds from past scams here in the forum - maybe one of them is not trying to copy us.
Please help us by making Telegram aware of it.
Toggle signature
I just got home from my trip to Dubai, a beautiful trip that could only be messed but this company unprofessionalism and horrific treatment.
Actually not the company, their employees are actually good people, the owners are unprofessional and they don't care at all about what they do.
So I will share here my honest feedback, in hope you will make the right decision and not be in the situation of interacting with this company ,DLS Dubai.
1. The whole ideea they are proposing is solid, stable and real. I came back with a very good opinion about Dubai and what they are trying to achieve there as a city. So yes, fast company setup, 0 taxes, no CRS, etc.
2. For people with limited time to read this, the point is do it, make your company in Dubai, but please, I mean please try to find a different company to do this for you. This is the only thing I recommend. I found now plenty of them but I worked with Fred as I found out about him here, on this forum. I did not had a good understanding on what this means when I contacted him.
3. I arrived in Dubai. Fred and his company is like a Tesla. A good and a bad thing follows at everything he does. You are happy that you have a big screen on Tesla, but you realise the door is not closing properly. You are happy for the acceleration but the breaks are not working anymore.
He is using Zoho CRM and sends you organised procedures that makes you think that he is super organised, but he don't respond you to messages, emails, calls.
4. He doesn't respond your massages, emails or calls.
He is trying to run his company on automatic mode. So, if you have any question regarding anything that is not written in his documents, he basically ignores your messages. He treats you like a number. Even if I may ask a dummy question, he doesn't bother at all. In our Whatsapp conversations, he basically ignores my questions and then writes me different things ignoring the questions above.
5. It doesn't take 7 days, it is a lie. On the onboarding process he is sending you a nice picture where you clearly realise that you can setup your company in a week.
I asked them before leaving to Dubai how many days I should book, if it's enough 5 days. After ignoring me for a few days, they responded and said a full week. I booked Sunday to Sunday, a full week.
I came back home without anything I proposed. I don't have my bank account, bank card, personal card or Emirates ID ready.
All was a mess because for all of this we needed at least two weeks. That the reality. They don't say you that.
6. They say that it cost you 9k and no hidden fees. That is also a lie. If you want to setup your company in a week you need to pay a tax to speed up your medical test process, then another tax to speed up the ID issuing process. Not big taxes, nothing to worry about but hidden.
7. You never know what's next or what's the whole picture. All the time you should wait for another document that explains you. If you are asking him, what's next, how the process should go, he is also ignoring your emails or calls. If you are asking his employees what's next, they say ask Fred. You ask Fred, but Fred the Great is busy. So you are blind totally in this process.
8. I never spoked even once with him on phone while I was in Dubai. He has some email templates and all the interaction was with one driver that took me to local authorities some text conversations with another employee of them that helped me apply at the bank account.
He is super available on the discovery call to sell you this thing. Then, he's not available anymore. Never.
How the process looks like in reality:
a. You go there and step one is a medical tests.
b. You need to go to trade registry authority and pick up your original company documents, for which he applies before so all are ready you just need to pick them up.
c. Then, with company documents ready and medical test approved, now you need to apply for a resided visa, to a 3rd location (all in the same day), at immigration office. There you need to stay one hour.
All interactions with Dubai authorities are smooth and nothing like European bureaucratic procedures. So you will leave with a very good impression from all of this 3 places.
After a, b and c, now you need to have your Emirates ID, the physical ID that basically you can use and open bank accounts as a local.
d. Open personal bank account. You can open this accounts without the ID BUT the trick is that you can't get the bank card without presenting the physical ID to the delivery guy.
So, if you apply for EID as I did Monday, it will be ready next Monday.
In my case, I applied for a personal bank account Tuesday, but when I was contacted for delivery of the bank card, because I had no physical Emirates ID, the card returned to their post office. Even now it is there.
e. To open a company bank account they may call on your LOCAL phone number. BUT, when you are in the country, you can buy only tourist SIM card, which has no Roaming option. You can convert your LOCAL sim card to RESIDENT sim card only with your Emirates ID. So if you don't have the ID ready, as it was my case and you leave country, the whole process blocks. Because I am now in Europe, the bank may call me for final verification on my account to open it but as I don't have roaming on my SIM card, all the process is stuck.
So the conclusion here is to actually stay in the country until you can pick-up in this order your Emirated ID, Personal bank card and company bank card. Minimum two weeks.
In my case, now I need to have another trip to Dubai, pick-up my Emirates ID, call the bank and maybe tell them I had an emergency that I had to leave and see how I can finish my company bank account application.
I asked them 2 days ago what I need to do. I have no answer yet.
So guys, all of the above is my experience with them. Maybe the story was different if Fred was actually answering my calls and clear all this for me but no. He is still not available. I still don't know when I need to go back to Dubai, how I will solve my issues and finish my application, etc.
I am curious now that if Fred the Great will come down from the sky and speak here with the mortals and present his angle on this story.
Maybe here he will be available and we can actually talk about how I can finish this process as on WhatsApp he's not available anymore.
In any case, even if I may done some dummy things in the whole this process or asked some questions that maybe they were already answered in his documents, you don't want this kind of experience. There are a lot of other companies in Dubai doing the same thing. Just pick another random one and maybe you will be more lucky, you have nothing to lose.
Actually not the company, their employees are actually good people, the owners are unprofessional and they don't care at all about what they do.
So I will share here my honest feedback, in hope you will make the right decision and not be in the situation of interacting with this company ,DLS Dubai.
1. The whole ideea they are proposing is solid, stable and real. I came back with a very good opinion about Dubai and what they are trying to achieve there as a city. So yes, fast company setup, 0 taxes, no CRS, etc.
2. For people with limited time to read this, the point is do it, make your company in Dubai, but please, I mean please try to find a different company to do this for you. This is the only thing I recommend. I found now plenty of them but I worked with Fred as I found out about him here, on this forum. I did not had a good understanding on what this means when I contacted him.
3. I arrived in Dubai. Fred and his company is like a Tesla. A good and a bad thing follows at everything he does. You are happy that you have a big screen on Tesla, but you realise the door is not closing properly. You are happy for the acceleration but the breaks are not working anymore.
He is using Zoho CRM and sends you organised procedures that makes you think that he is super organised, but he don't respond you to messages, emails, calls.
4. He doesn't respond your massages, emails or calls.
He is trying to run his company on automatic mode. So, if you have any question regarding anything that is not written in his documents, he basically ignores your messages. He treats you like a number. Even if I may ask a dummy question, he doesn't bother at all. In our Whatsapp conversations, he basically ignores my questions and then writes me different things ignoring the questions above.
5. It doesn't take 7 days, it is a lie. On the onboarding process he is sending you a nice picture where you clearly realise that you can setup your company in a week.
I asked them before leaving to Dubai how many days I should book, if it's enough 5 days. After ignoring me for a few days, they responded and said a full week. I booked Sunday to Sunday, a full week.
I came back home without anything I proposed. I don't have my bank account, bank card, personal card or Emirates ID ready.
All was a mess because for all of this we needed at least two weeks. That the reality. They don't say you that.
6. They say that it cost you 9k and no hidden fees. That is also a lie. If you want to setup your company in a week you need to pay a tax to speed up your medical test process, then another tax to speed up the ID issuing process. Not big taxes, nothing to worry about but hidden.
7. You never know what's next or what's the whole picture. All the time you should wait for another document that explains you. If you are asking him, what's next, how the process should go, he is also ignoring your emails or calls. If you are asking his employees what's next, they say ask Fred. You ask Fred, but Fred the Great is busy. So you are blind totally in this process.
8. I never spoked even once with him on phone while I was in Dubai. He has some email templates and all the interaction was with one driver that took me to local authorities some text conversations with another employee of them that helped me apply at the bank account.
He is super available on the discovery call to sell you this thing. Then, he's not available anymore. Never.
How the process looks like in reality:
a. You go there and step one is a medical tests.
b. You need to go to trade registry authority and pick up your original company documents, for which he applies before so all are ready you just need to pick them up.
c. Then, with company documents ready and medical test approved, now you need to apply for a resided visa, to a 3rd location (all in the same day), at immigration office. There you need to stay one hour.
All interactions with Dubai authorities are smooth and nothing like European bureaucratic procedures. So you will leave with a very good impression from all of this 3 places.
After a, b and c, now you need to have your Emirates ID, the physical ID that basically you can use and open bank accounts as a local.
d. Open personal bank account. You can open this accounts without the ID BUT the trick is that you can't get the bank card without presenting the physical ID to the delivery guy.
So, if you apply for EID as I did Monday, it will be ready next Monday.
In my case, I applied for a personal bank account Tuesday, but when I was contacted for delivery of the bank card, because I had no physical Emirates ID, the card returned to their post office. Even now it is there.
e. To open a company bank account they may call on your LOCAL phone number. BUT, when you are in the country, you can buy only tourist SIM card, which has no Roaming option. You can convert your LOCAL sim card to RESIDENT sim card only with your Emirates ID. So if you don't have the ID ready, as it was my case and you leave country, the whole process blocks. Because I am now in Europe, the bank may call me for final verification on my account to open it but as I don't have roaming on my SIM card, all the process is stuck.
So the conclusion here is to actually stay in the country until you can pick-up in this order your Emirated ID, Personal bank card and company bank card. Minimum two weeks.
In my case, now I need to have another trip to Dubai, pick-up my Emirates ID, call the bank and maybe tell them I had an emergency that I had to leave and see how I can finish my company bank account application.
I asked them 2 days ago what I need to do. I have no answer yet.
So guys, all of the above is my experience with them. Maybe the story was different if Fred was actually answering my calls and clear all this for me but no. He is still not available. I still don't know when I need to go back to Dubai, how I will solve my issues and finish my application, etc.
I am curious now that if Fred the Great will come down from the sky and speak here with the mortals and present his angle on this story.
Maybe here he will be available and we can actually talk about how I can finish this process as on WhatsApp he's not available anymore.
In any case, even if I may done some dummy things in the whole this process or asked some questions that maybe they were already answered in his documents, you don't want this kind of experience. There are a lot of other companies in Dubai doing the same thing. Just pick another random one and maybe you will be more lucky, you have nothing to lose.
Is this like the first time in life you do anything? Welcome to the real world -- the thing keeps throwing you curve balls. I suggest you keep some margin for error in the future.
>5. It doesn't take 7 days, it is a lie.
>So, if you apply for EID as I did Monday, it will be ready next Monday.
Monday to Monday is .. *check notes* ... 7 days.
>5. It doesn't take 7 days, it is a lie.
>So, if you apply for EID as I did Monday, it will be ready next Monday.
Monday to Monday is .. *check notes* ... 7 days.
7 days in the country to finish the process. I did not finished anything in those 7 days. 🙂 So no, not 7 days just for EID.
Regarding keeping a margin, well, when you actually are doing something in your life, your time and schedule is limited. So you need to rely on some information to be actually capable finish your tasks.
So, thanks for your input, but I prefer to keep my standards and actually expect some kind of customer service or good will in exchange for my money, rather than thinking the life is hard and anything can happen.
Let's eat all the s**t we can from all the companies can sell it to us because life sucks, right?
Last edited: May 10, 2023
Ofc I am new. That's why I needed information and a clear view about what I need to do.
So your proposal is for me to get more experienced with this process before actually buying this kind of services, so next time I will not be disappointed anymore? 🙂) I think you are just trying to find a way to disagree with me. Just relax, if you are so experienced, this feedback is not addressed to you rather than also other inexperienced like me. Maybe they will find some value here. I would liked to have this kind of feedback here before.
Ofc I can be wrong with all I say because I have no 4 other experiences with this and never did anything in my life, but let them judge this. 😉