Question concerning the opening of an UAE Ajman Media Freezone company

[Offshore13]

Not yet‌ as I left after 2 months, I have tried RAKbank but they are incompetent and‍ super unfriendly, the account managers have the wrong job 🙂 but its a great experience. I⁠ had all paperwork and have a stable well-known business but somehow they did not like⁤ the international history of the company. I have another contact I will try beginning of⁣ 2023 and pay around 1000 USD in order to get a guaranteed UAE business bank⁢ account which is not completely delusional with fees and will give you an update and︀ share contact if anyone is interested. One thing though they did not mention the bank︁ yet, but its not one of the big ones.

So conclusion 🙂 its still possible but︂ it will not work straight away

 

[Fred]

Technically - when the company is older then 1 year - no UAE Bank gonna‌ open you a Business Bank Account when you approach them for a normal product.

This is a compliance internal policy with every major UAE Bank I have seen so far.‍

1k USD doesn't help much here - real corrupt compliance doesn't start below 10k USD⁠ or you get a Private Banker, put 250k USD in a life insurance, which is⁤ a legal way for the bank to steal your money.

At least you keep positive⁣ - thumbs up.

 

[Offshore13]

Hi all,

Jut a quick update for︀ the bank account opening. This has been moving and UAE seems to make it easier︁ to open BUSINESS bankaccounts even for free zone companies. Check out WIO bank in the︂ UAE they will open a Business bank account in no time and so far I︃ have not heard anything about someone being rejected. I am happy to give this info︄ here for free bt just FYI I have paid for this when this info was︅ not public and I have signed up with them

 

[Offshore13]

Hi everyone, hope you are all well and companies are rising
I just wanted to‌ give an update about my Freezone journey, yesterday the TAX authorities hit us with 10k‍ penalties and a few hours later with 1k UAE dirhams more. Very confusing as it⁠ was their system which was not working when I declared for the first time, and⁤ obviously they accuse me of not complying and declared to late the threshold of over⁣ 380k dirhams. On top of that the 1k penalty will be every month for late⁢ filling as well. Obviously I contested and and I have proof, lets see what will︀ happen will keep you updated.

Does Anyone got a good 0% offshore company structure without︁ fillings or tax obligations lime belize or marshall inslands in the good old times?

 

[JimBeam]

Just get an accountant and let them deal with all that.

 

[Clank]

Mashreq neobiz will also open easily if you have︀ an office or tenancy contract that you can buy online.

 

[zzzzzz]

Are you talking about buying a‍ template of tenancy contract or service that offers renting something + tenancy contract?

 

[Clank]

There are services that give you‍ a tenancy contract + help with bank inspections for 2-3k AED a year. It’s all⁠ legal.

It’s a real office but you can’t use it, if bank does an inspection⁤ they put your company name one it.

I have helped some friends with my office⁣ this way.

 

[Offshore13]

Ye got one already there has‍ been a bug in the system and the numbers were greyed out and tax authority⁠ asked to change them but the accountant couldn't, so he just sent it, that's why⁤ they are wrong and I already filed a complaint, lets see

sorry wrong threat

Yes got one already there has been a︃ bug in the system and the numbers were greyed out and tax authority asked to︄ change them but the accountant couldn't, so he just sent it, that's why they are︅ wrong and I already filed a complaint, lets see

 

[Fred]

Beside of this post looks like spam - it's wrong.⁤

Most small Emirates Freezones are Bank internal blacklisted and they either don't get any Business⁣ Bank Account done or only with high minimum Balance / Insurance / Investment commitments.

 

[Clank]

You will be able to open a UAE bank account with Wio or mashreqneobiz︉ easily.

You can also use Currenxie for receiving international payments. They don’t do CRS reporting.︊

 

[Offshore13]

Yes Thanks I went for WIO when they were still in⁠ Beta