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#21
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Dandyline said:
Transferwise, then move money to private account in Dubai, Singapore, HK, US weekly.
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If one would settle with online bank (EMI), I am baffled why would anyone go with an expensive company in UAE when there are much cheaper jurisdictions that offer the same as RAK and have a completely closed Registry.
 
#24
Dandyline said:
Because the UAE setup gives you a tax free residence visa, obviously.
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Of course, if you intend to change country of residence (as an individual) it makes sense, then that is a different story.

I am more confused with people who intend to stay tax residents in their home country, but still want to incorporate tax-free company in RAK. A jurisdiction that offers nothing, bad company documents with no Apostille certification and extremely hard to open regular bank account in or outside UAE.
 
#25
Mark Rucken said:
Of course, if you intend to change country of residence (as an individual) it makes sense, then that is a different story.

I am more confused with people who intend to stay tax residents in their home country, but still want to incorporate tax-free company in RAK. A jurisdiction that offers nothing, bad company documents with no Apostille certification and extremely hard to open regular bank account in or outside UAE.
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Yes you need to get an additional residency to avoid CRS.
 
#28
nomad999 said:
Unfortunately the only way to avoid tax in Germany or most western EU countries is to get a certificate of residence somewhere else that has a DTA in place.
Whatever you do without a certificate of residence they can get you with their bs CFC rules ...
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but that would again require that in my case Germany knows about the company abroad

but because of the visa i count as an arab (simply said) as long as i enter the UAE once every 6 months. For this reason they do not send anything to germany.
and because I won't tell the tax office they don't know that I am behind the company
 
#29
kinglion said:
but that would again require that in my case Germany knows about the company abroad

but because of the visa i count as an arab (simply said) as long as i enter the UAE once every 6 months. For this reason they do not send anything to germany.
and because I won't tell the tax office they don't know that I am behind the company
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Correct. Not legal but risk is zero to non if you are using your brain.
 
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#30
kinglion said:
But if I have the visa I count as a UAE resident according to UAE law. That means that nothing is transferred with the CRS.
I would shoot myself in the foot when I get a Tax domicil certificate.


Does RAK/UAE make sense for my plans with futures trading etc.?
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Even twig can shoot once a year. Don't hope to not be reported. Rules change day by day, you can't hide your transaction history after the laws change
 
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#32
kinglion said:
But if I have the visa I count as a UAE resident according to UAE law. That means that nothing is transferred with the CRS.
I would shoot myself in the foot when I get a Tax domicil certificate.
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did you get this tested by a tax attorney or good advisor? I believe it can't be that easy or can it?
 
#33
It is discussed thousands of times before. Don't go with RAKICC company. RAKICC = no-visa and no-local bank account

You can set up an FZ company at almost the same prices.
 
#35
kinglion said:
Look at m first post. I said Freezone RAK
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Still, RAK is a pain(bank account problem, low reputable FZ). Why don't go you with almost reputable Dubai or Abu Dhabi FZ? The cost almost the same. There are also other things you need to consider.

- You also need a utility bill to get rid of CRS completely.
- All FZs started requirements to comply with ESR rules. Did you check it?
 
#36
rowena said:
Still, RAK is a pain(bank account problem, low reputable FZ). Why don't go you with almost reputable Dubai or Abu Dhabi FZ? The cost almost the same. There are also other things you need to consider.

- You also need a utility bill to get rid of CRS completely.
- All FZs started requirements to comply with ESR rules. Did you check it?
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Rak was the First one that got recommended for me.
I did not understand the esr rules. Do they apply for me?
 
#37
kinglion said:
Rak was the First one that got recommended for me.
I did not understand the esr rules. Do they apply for me?
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It is better to work with Dubai or Abu Dhabi FZs. They're better in every aspect(online portal, customer service, banking possibility etc..).

All companies in the UAE need to comply with the ESR. Since you have a finance business, ESR rules apply to your company. You can check details here Economic Substance Regulations
 
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#38
rowena said:
Still, RAK is a pain(bank account problem, low reputable FZ). Why don't go you with almost reputable Dubai or Abu Dhabi FZ? The cost almost the same. There are also other things you need to consider.

- You also need a utility bill to get rid of CRS completely.
- All FZs started requirements to comply with ESR rules. Did you check it?
Click to expand...
How to get utility bill? I’ve tried with virgin mobile Mobile plan yearly contract but they not put address on invoice... dewa at the moment I cannot have, have you other options to get it from abroad?
 
#39
Interested on the utility bill thing as well.
I'm planning to go with Freelance permit to start with and get the residency card. @rowena Do you think it's "easy" to have a bank account for freelance activities in FZE ? Apparently you can have a "commercial" name with Freelance permit (so you can invoice like a company).
 
#40
Kilixos said:
Interested on the utility bill thing as well.
I'm planning to go with Freelance permit to start with and get the residency card. @rowena Do you think it's "easy" to have a bank account for freelance activities in FZE ? Apparently you can have a "commercial" name with Freelance permit (so you can invoice like a company).
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For freelance you just need to open personal bank account so it’s super easy it will get 2 weeks around
 
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