UAE resident + UK LLC / LLP / LTD
- Thread starter Alenka
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ESR = ECONOMIC SUBSTANCE REGULATIONS, see applicable regulation: الهيئة الاتحادية للضرائب - 404
Same for an US LLC (I suppose you use it as an Foreign-owned U.S. DE), never use it as an holding because of passive income taxation in the US...
Same for an US LLC (I suppose you use it as an Foreign-owned U.S. DE), never use it as an holding because of passive income taxation in the US...
Hello, I am in the kind of similar situation. Currently using my UK LLP and am unable to switch to UAE FreeZone company as can not open a bank account. Currently, my Stripe+Wise working well, but I would like to change one of the LLP partners to my UAE FZ company, is it a good idea? Currently, UAE is in the Grey zone, so, probably it may create some compliance issues with Stripe/Wise.
I have also had an Estonian e-Residence, so can create an EE company, probably it will be a better option to set up this company as LLP partner to avoid any compliance︀ issues?
I have also had an Estonian e-Residence, so can create an EE company, probably it will be a better option to set up this company as LLP partner to avoid any compliance︀ issues?
What will be the purpose of the FZCO or Estonian company? Are you making a holding structure? As in the LLP conducts operations and distributes profit to the FZCO?
It's quite a common thing to use a UK LTD/LLP for payment processing due to the easy of using stripe/wise with it. This way you only receive payments via this company and can do the rest of the operations via your UAE FZ company.
I'm still not sure what the whole structure of your business looks like, so I can only︀ guess what you actually need. If you just need a new LLP partner then any︁ company should do the job afaik? I'd probably use the Estonian company as it seems︂ to be working with the user I mentioned previously.
It's quite a common thing to use a UK LTD/LLP for payment processing due to the easy of using stripe/wise with it. This way you only receive payments via this company and can do the rest of the operations via your UAE FZ company.
I'm still not sure what the whole structure of your business looks like, so I can only︀ guess what you actually need. If you just need a new LLP partner then any︁ company should do the job afaik? I'd probably use the Estonian company as it seems︂ to be working with the user I mentioned previously.
I am a resident of the UAE and have a Wise account for my UK and EE companies. All went well for two years with no issues. Last month I transferred EUR 5k from my UAE FZE LTD's bank account as a salary to my Wise personal account. I got an email from Wise asking loads of crap, e. g. what I do for a living, upload a payslip, etc. The email asking for the paperwork came three weeks after the funds cleared, but the email mentioned the payment was on hold. So, not sure if sh*t is hitting the fan or if Wise's compliance︀ is now getting tougher on payments from the UAE (UAE is still on the gray︁ list). Maybe something to consider....
So have a look to pages 5-7-9 of https://www.mof.gov.ae/en/Strategic.../Economic Substance Activities Flowcharts.pdf
I think he needs nominee director or a sleeping partner in his business to just stay in uae.That should be enough for him.
Are you selling Gold bars??Any good pricing available on it??
Since you are so lost,lostguy i have no comments to make on top of your comments.
Since you are so lost,lostguy i have no comments to make on top of your comments.
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