Offshore company in Dubai / UAE who?

[bastard]

I would like to know what agent to use to setup a Dubai company or a company in the UAE?

As you can read already I have not much knowledge about setting up anything in that direction so any input is much appreciated.

So far I have been looking at UAE Company Formation | UAE Company - Set Up from $1,025 | FBS UAE but the website looks strange.

 

[Remy]

I have used during several years an agent Création société offshore à Dubaï - Simple‌ & sérieux | Société Dubaï a bit expensive with yearly USD 2000 for a RAK‍ offshore. Prices : Prix société offshore : création de société à Dubaï

I've visited them⁠ in Dubai before meeting at the bank (Noor Bank). Mainly French speaking, but also English⁤ speaking. They are licenced and reliable.

 

[bastard]

Thanks for the domain report, will stay away from this service.

Thank you very much, I will send them⁠ an e-mail to see if we can come to an arrangement.

 

[Remy]

Ask Mister Eric Morel, he was in charge of the⁠ office, not sure he is still in Dubai, but try.

 

[Remy]

Please note the change in e-mail addresses for this agent :

​

​ ​ We are honored to announce that the member companies of the HAI YANG network have been‌ taken over by the MERRITT group. Since the setup of HAI YANG more than 20‍ years ago, the international legal and tax environment has changed: we no longer speak of⁠ nominee, "anonymous" bank account, non-public register, Offshore company, etc. Now, transparency, tax conventions and economic⁤ substance have become the watchwords of a world where opacity no longer has a place.⁣ To best support our customers in this new dynamic, the MERRITT group offers our clients⁢ services. Some of our clients are already familiar with MERRITT because their teams are already︀ in charge of the accounting of their company since the beginning of this year and︁ / or already use their services and business center of Florida in the USA. The name HAI YANG will therefore disappear gradually to make room for: MERRITT ASIA (for Hong︂ Kong), MERRITT MIDDLE EAST (for the Emirates), MERRITT USA (for the US), MERRITT ACCOUNTING (for accounting), MERRITT WORK SPACES (for the US business center) and MERRITT LEGAL CONSULTANTS (for legal︃ advice). We are therefore strengthening our offer in accounting and business law, which are now︄ essential in Corporate Services. Please note that your contacts do not change, only their email address will︈ change (to [email protected]) but emails sent to [email protected] are always transferred). Regarding the customer︉ support, you will receive within 3 months max, your access codes to the portal www.merritt.center. This portal will allow you to find all the elements of your company in︊ a secure environment and ensure the monitoring of your company as soon as possible. The email address [email protected] will be replaced by [email protected].

 

[Spinat]

Can I ask you @Remy what did you pay for the setup of the company‌ with them including an address to receive mail?

DAMN and it is all in French‍ja334¤¤#

 

[Remy]

I set up my RAK Offshore in 2012 for EUR⁠ 3528, now it's cheapper, EUR 1800 yearly and the USD 2000 until last year I⁤ closed it.

I opened first remotly an account in Barclays Dubai, a nightmare to open⁣ and to maintain. When the Retail branch of Barclays Dubai was sold, they frozed all⁢ accounts with foreigners directors 😵, a nightmare again during weeks before to cash out the︀ funds.

Opened a new account in Noor Bank Dubai in 2014. Not efficient, slow, a︁ big turnover in relationship managers, but roughly ok if you don't need them for your︂ bank operations. But from 2017, each TT I sent from my account took around one︃ month to arrive, that was crazy ! Each time, I need to answer the same︄ questions for compliance.

So, I gave up Dubai !

 

[Remy]

Google translates !‌ 😀

 

[WoWNull]

=_= even for residence people have a similar⁣ issue, i am with a bank for 6years now, and every2 years when i update⁢ my info i need to answer the same questions the same story..

 

[rowena]

Their web site is from 1995. Yes you can send money them, do not worry‌ smi(&%

 

[bastard]

Yeah it looksl ike some crappy low live who make‍ some money on people that don't know better.

 

[Spinat]

Is someone able to specify the costs for a DUBAI company, the figures I found‌ here at OffshoreCorptalk say 15.000 $US for setup and 8.000$US every year. But what does‍ these costs include, is there someone that can help to pin point the costs please?⁠

 

[puravida]

USD 13,300 for 3 years package including Visa (USD 4,400⁤ per year). One year package will cost around USD 5,500 per year.

 

[JohnLocke]

Where did you‍ get thise figures from, any link to an reputable agent?

 

[Davis123]

It really all depends on the type of license you need as we have a‌ whole thread on this forum where I discussed all options. If you do it yourself‍ it's much cheaper but of course the company that will set it up for you⁠ is going to charge something and they deserve it too. It all depends on your⁤ needs and wants. In govt depts, they speak English quite well so you have no⁣ worries. After one year, I had no problem in renewing my company on my own.⁢

 

[CaptK]

@Davis123 Maybe you should be our OCT man in Dubai.︀
I regularly travel to Dubai to set up structures for clients and it will range︁ from 5K to 15K for a company and then upto 100K if I am setting︂ up an investment company to take clients deposits. A RAK ICC is very cheap but︃ that is purely Offshore and you cant do business in UAE. Approximately 3000 per annum︄ but no residency and a nightmare to open a bank account. I found it easier︅ to open a Mauritius bank account than a UAE one for a RAK ICC.

Renewal is easy but make sure your not late in processing I would say do it︆ anywhere from before 2 weeks of expiry.

Ajman is my favoured Emirate at the moment︇ they are quick and the cheapest. You are not restricted to doing business there nor︈ living there is no social life there. 40 mins from Dubai and a lot cheaper.︉

 

[puravida]

No Agent. This is from personal experience dealing directly with the government‍ agency of Ras Al Khaimah Economic Zone (RAKEZ).

 

[reesek]

different zones have slightly different pricing 5-15k range

 

[Davis123]

T
Thx CaptK maybe I should be OCT. Yes Ajman is my favorite too. There︅ is an Ajman Offshore company too available which is cheaper than RAK ICC but yes︆ you can't open up bank accounts anymore with Offshore companies in Dubai. Years ago it︇ used to be a fairly quick process. You can open up bank accounts in some︈ jurisdictions. I remembered an offer with CIM bank too in Switzerland on another forum but︉ it was years ago. I know some Mauritius banks work with Ajman too.

 

[CaptK]

I will be coming soon for a client. Maybe we can meet︀ for a beer.