UAE to introduce 9% corporate tax on business profits from June 1, 2023 (FZCO REMAINS 0%)

[zzzzzz]

IB needs a proof of residence and the EJARI is the best and only proof of residence that matters to them. The EJARI is a long term contract for rent, which you can cancel after 1-3 months. You'll find people who will do this but expect to pay 8 to 10 thousands AED. You can rent the shittiest place for 3 months or a place where you actually live for a couple of months.

I'm asking because this guy couldn't open IB account with EJARI contract (unsigned/unstamped). However, bank statement with local address usually works, I mean, it was always accepted for my EU address when I had to extend W8BEN.

 

[karishi]

I'm asking because this guy couldn't open IB account with EJARI contract (unsigned/unstamped). However, bank statement with local address usually works, I mean, it was always accepted for my EU address when I had to extend W8BEN.

The EJARI which is accepted is only the electronic form registered at the dubai land department, which can be checked by Interactive Brokers for validity. The paper version is worth nothing. The bank opens your account without any proof of address, so what's written on the bank statement can't nbe used, you can put a PO BOx as your address, so it should not work for IB, but you can of course try. Only use for having an address on bank statement has been so far for proof of address for company renewal in San Vincent and the grenadines.

 

[JackAlabama]

IB needs a proof of residence and the EJARI is the best and only proof of residence that matters to them. The EJARI is a long term contract for rent, which you can cancel after 1-3 months. You'll find people who will do this but expect to pay 8 to 10 thousands AED. You can rent the shittiest place for 3 months or a place where you actually live for a couple of months.

Not only ejari, bank statements and the usual utility bills also work as they do for any halfway decent institution.

 

[karishi]

Not only ejari, bank statements and the usual utility bills also work as they do for any halfway decent institution.

IB told me bank statements didn't work. When I opened the bank account I put an address for the bank and there was no control whatsoever on it. There are international banks where you can do trading that DO require a Proof of Address, so a bank statement from Citybank might work, while a bank statement from CBD or NBD might not work. And of course DEWA bills work, but the ejari is much easier/quicker to have, I mean you need an EJARI to have a DEWA bill. You can do the ejari, register it with dubai land department, open all the accounts and cancel the ejari in 15 days.

Not only ejari, bank statements and the usual utility bills also work as they do for any halfway decent institution.

I mean, I tried it, it would have saved me 9000 AED. Nothing wrong in trying of course, that's super easy to get.

 

[Fred]

Not only ejari, bank statements and the usual utility bills also work as they do for any halfway decent institution.

That's it.

Bank Statements from local UAE Bank works all the time for IBKR Company Accounts.

It depends a bit on the Compliance Officer dealing with however sooner then later they approve it.

 

[yeongsu]

Bank Statements from local UAE Bank works all the time for IBKR Company Accounts.

Will the same work for personal account as well?
Passport with residence visa + Emirates Id + Dubai personal bank account statement.

 

[JackAlabama]

Will the same work for personal account as well?
Passport with residence visa + Emirates Id + Dubai personal bank account statement.

Depends on your specific target, but generally yes.
It works as well. It does work for visa applications as well where you need to show wealth or/and income.

 

[RealDude]

The new axis of evil? ​

​

UAE Joined China, India in Abstaining on UN Ukraine Vote​

https://www.bloomberg.com/news/arti...-vote-on-ukraine-to-put-emphasis-on-diplomacy
„The UAE’s foreign minister Sheikh Abdullah bin Zayed Al Nahyan is scheduled to meet with his Russian counterpart in Moscow on Monday.“

 

[Martin Everson]

Thanks for post but can we keep to thread topic please. How did we get from UAE tax discussion to Ukraine

 

[karishi]

Depends on your specific target, but generally yes.
It works as well. It does work for visa applications as well where you need to show wealth or/and income.

What do you mean?If you have to transfer residency to UAE, Italy for example doesn't accept bank statements as proof of residence, they want a tenancy contract and more.

Will the same work for personal account as well?
Passport with residence visa + Emirates Id + Dubai personal bank account statement.

For Interactive Brokers account, it didn't work for me.

Will the same work for personal account as well?
Passport with residence visa + Emirates Id + Dubai personal bank account statement.

for me it hasn't worked. I mean I tried sending the bank statement as a proof of residence ( it was an address and not a PO BOX on the bank statement ) when opening the account and IB said that it was not a valid Proof of Residence. Try anyway, if they say no, do the EJARI.

 

[RealDude]

Well whose gonna complain out there? There is no free press in UAE, no protests allowed and no slander...sorry criticism of UAE rulers allowed. Add the fact they have a non-independent judiciary legal system far less advanced then Julius Caesars - year 40 BC (Before Christ), thumbs up and thumbs down in the arena system and you get the picture.

Just because

 

[Martin Everson]

Just because

Just because what?

Fun and games over keep to topic or start a new thread. I am gonna remove my own posts too where I have violated that rule also.

 

[RealDude]

Just because what?

Fun and games over keep to topic or start a new thread. I am gonna remove my own posts too where I have violated that rule also.

Self-censorship?

 

[Martin Everson]

Self-censorship?

Yes I am not above anyone else in keeping threads on topic. I am Rasputin not Vladimir Putin . I have a loud mouth and joke a lot in threads but I am gonna try and keep stuff on topic going forward

 

[yeongsu]

Try anyway, if they say no, do the EJARI.

Thank you for the suggestion. I'll go with whichever option gets the work done.

 

[JackAlabama]

What do you mean?If you have to transfer residency to UAE, Italy for example doesn't accept bank statements as proof of residence, they want a tenancy contract and more.


For Interactive Brokers account, it didn't work for me.

for me it hasn't worked. I mean I tried sending the bank statement as a proof of residence ( it was an address and not a PO BOX on the bank statement ) when opening the account and IB said that it was not a valid Proof of Residence. Try anyway, if they say no, do the EJARI.

well yah the leading places in the EUDSSR are surely more tricky.

Try it again, it took me as well like 3 times until accepted due to some address mismatch or some bs like that. It needs to match the exact spelling you entered in IB, otherwise some moron might complain (hence you can try a couple of times).

 

[zzzzzz]

I mean I tried sending the bank statement as a proof of residence ( it was an address and not a PO BOX on the bank statement ) when opening the account and IB said that it was not a valid Proof of Residence. Try anyway, if they say no, do the EJARI.

Does EJARI contract stay online for download/archive purposes, or is deleted if it's canceled/expires?

 

[karishi]

Thank you for the suggestion. I'll go with whichever option gets the work done.

well, if you can do it with the bank statement it's obviously much cheaper, if you don't plan to live in dubai and don't rent with a long term contract.

 

[zzzzzz]

If you go the property route you can get an investor visa which indeed allows you to visit only every 365 days the UAE - however that's not possible through FZCO incorporation - Ras Al Khaimah did issued in the past investor visas through FZE incorporation - however they had still the requirement of the 180 days. Which makes sense as the Visa through the company always follow the fact that you are employee of the company somehow.

My mistake! That couple opened mainland company, not freezone. Are there any differences between freezone and mainland company in costs, accounting...etc.? Is the requirement for investor in mainland company, visiting UAE at least every 360 days?

 

[Fred]

My mistake! That couple opened mainland company, not freezone. Are there any differences between freezone and mainland company in costs, accounting...etc.? Is the requirement for investor in mainland company, visiting UAE at least every 360 days?

With Mainland a lot of more bureaucracy is involved due to VAT, Audit and Accounting.