Cheers!I have Dubai company+visa and a small emirate company. Dubai visa is always better because integrated with lots of online channels of Dubai also more reputable. Small emirates are always cheap but worse customer service and more paperwork instead of digital portals.
Send you PM.Hello, thank you for information, very good.
I have a question, can a FreeZone company incorporated in any Emirate own propertly in Dubai (direct ownership of the property)? If yes, which Emirate do you recommend?
When it comes to the Visa there is. As most of the people want to live in Dubai or Abu Dhabi it's additional hassle if you ever need a service and have your Visa issued by let's say Fujairah.
One time setup cost for Company with 1 Visa and all the costs for the Visa application, Medical Test and Emiates ID will be around 7.000 EUR max. - yearly running costs 4.000 EUR max.So at this point what would be the cheapest option in Dubai?
As far as I know most free zones in Dubai are unreasonably more expensive than those in other emirates....
CIM Bank for example only opens for Dubai and Abu Dhabi companies in 2021.
when it comes to financial institutions outside UAE it really depends where do you have incorporated
Yes that's right and as there is pretty much office space available in Dubai and 99% of our clients intend to live in Dubai it just makes sence in the bigger picture no matter if to the banks or to the brokers to have the company in Dubai as well.Worth mentioning, CIM will also require to have real economical substance in UAE (with real office, etc).
Maybe we are partnered with different financial institutions, but our clients do not face any issues when they request accounts with their UAE entities that is not necessarily Dubai.
As I mentioned before, the only advantage I can see is having Dubai entity if you plan to have actual business locally.
Are those institutions in the UAE?Maybe we are partnered with different financial institutions, but our clients do not face any issues when they request accounts with their UAE entities that is not necessarily Dubai.
Are those institutions in the UAE?
I assumed soSome in UAE, most - outside.
With UAE banks most important is whether you have a real office (in any Emirate) and how much money you run. Banks, such as Mashreq, are easier, and won't care about that at all. But you probably know that.
then definitely an outside bank but that just becomes a pain in the butt
I doubt this is possible. I do generally agree that it makes better sense these days to incorporate in Dubai vs in smaller Emirates, not only because of banks, Dubai residence etc, also because of political situation, where all other 6 Emirates depend on Abu Dhabi immigration control policy (including foreign nationals quota) and foreign travel policy (ICA) vs Dubai (GDRFA).One time setup cost for Company with 1 Visa and all the costs for the Visa application, Medical Test and Emiates ID will be around 7.000 EUR max. - yearly running costs 4.000 EUR max.
Any basic accounting package which includes bookkeeping and VAT reporting is at least AED 12.000 per annum (these are standard market rates). That's already €7000.
To better understand:Worth mentioning that is you run an international business, your goal is to have no audit requirements for accounting. It will save time and money. For example, Ajman Free Economic Zone.
To better understand:
Which is the cheapest Emirates installment to get a resident Visa (not just for tax purpose but also to visit and stay in Dubai for a few months - EU passport)? With the Ajman Free Economic Zone can I get a Visa to stay in Dubai? Do you have an idea about costs for setup and a visa?
Are there audit requirements for accounting for a Dubai mainland company?Worth mentioning, if you run an international business, your goal is to have no audit requirements for accounting. It will save time and money. For example, Ajman Free Economic Zone.
Are there audit requirements for accounting for a Dubai mainland company?
Just clients who want a Rolls Royce for Nissan Micra money.Where the pain comes from? We use both options for some of our companies and don't face any issues.
Visa is valid throughout the UAE. Many guys have Ajman, RAK, Sharjah and Fujierah companies and visa's but live in Dubai.To better understand:
Which is the cheapest Emirates installment to get a resident Visa (not just for tax purpose but also to visit and stay in Dubai for a few months - EU passport)? With the Ajman Free Economic Zone can I get a Visa to stay in Dubai? Do you have an idea about costs for setup and a visa?
Are there free zones with audit requirements for accounting, too?
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