Why Dubai Companies are a BAD Idea?
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- Опубліковано 30 лип 2024
- When you SHOULD'T consider Dubai for company formation?
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UAE, and in particular Dubai is one of the most popular places in the world for company formation. In lots of the cases it makes the perfect sense to incorporate in the UAE, but sometimes... it simply doesn't and it is better to look for alternatives.
When does it make no sense to form a UAE company? Why? What are the better options to incorporating in the UAE?
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It's worse than just being 9%, it's the detail around that. The UAE have said that that above a threshold (which are very vague and at their determination), you have to pay 9% on all you take out as salary. So it's a disguised personal tax too. This, despite a previous commitment to be zero Corp tax for 50, years, which they've reneged on. So what else will they change. HK far better. Zero tax. Many dropping their UAE Cos for the reasons above.
Its not 6 months anymore, its minimum 3 months to maintain tax residency
All good points. Can you make one on using US LLCs as a way to get personal tax residency in the UAE through the freelance visa? That seems the best of both worlds
Very informative insight as always.
Glad it was helpful! Anything you'd like to see next?
@@OffshoreCitizencould you do a deep dive on offshore banking for trading companies (physical commodities trading) comparing UAE, Cayman Islands, BVI, etc and the banking they can get along with any funding requirements in each case. That’d be very interesting and helpful
Good you got some people thinking about the setting up there.
Good video. Could the tax treaty network also play some part in the decision tree?
So essentially the UAE is not a good place to incorporate unless you already live there or want to use the company as a way to obtain a residence visa.
no UAE for me. Cant bear bureaucracies!
i am 100% that you’ve never experienced anything related to uae government..
My company was formed in 3 days my emirates id was issued and shipped to my hotel within 1 hour, after i went to their happiness center to give my fingerprints which took 5min. my bank account was created within 1 hour via the bank app, the card and cheque was shipped to me next day without me going to the bank’s branch at all, they came to give me my docs, cards, cheque book, and took only my signature.
I’d consider it only to get a UAE residency, even than you will be better running an LLC maybe for most cases
If one lives here but wants to avoid the really high costs of setting up a holding company there, what are your [low/no tax] options that are non-red flag
What about nominee director, nominee shareholder services. That should overcome lack of residency.
Nominees have no bearing on residency
@@OffshoreCitizen well of course, the point is one can have a company there and not be living there by using nominee.
So if the company that will be in UAE is holding company, that’s would work to minimize the taxation? And if I don’t do the bus activities in UAE yet, would it effect the taxation? I will just register the company in free zone and will pay zero taxes! Correct me if I am wrong.
I didn't catch. So if you're not a resident you'll pay 9% tax and if you are you don't?
What if I get the 10 year visa through buying a property. Plan to be there 1 month a year. Then start a company. Can I take avantage and pay less for running the company?
100% correct!
You don't have to be a resident to have a personal account in AED. NBD opened an account for me with low minimum balance. ADCB was willing too, but much higher balance. It does require being very prepared before your visit but possible.
He’s talking about a BUSINESS account
I grew up in Vegas. Why the F would I want to go to an even hotter wasteland?
Word
How you pay 5% in Malta?
since a year ago the new law came out stating that if you own a business in UAE you need to come once a year not every 6 month
Depends on the type of visa you've got
@@OffshoreCitizen yes i mentioned if you own a business, that means you have investor partner visa
Hello there
I am a British owned business looking to remain in the UK and register as uae business, how difficult is it to get residency? Would I need residency?
You get residency by forming a UAE company, it's a pretty straightforward process and something we assist many of our clients with. Feel free to reach out for more details
UAE IS NOT FOREVER. ONE DAY YOU'LL LEAVE IT AND LEAVE HOME AND ALL BEHIND AS THE UAE WILL NEVER GIVE YOU A CITIZENSHIP
many people have lived there forever including their children .
Pretty amazed you can be this open about those disadvantages. Let me add, as a tech entrepreneur its hard to relocate an entire highly skilled developer team to UAE (talking AI experts), because of the perceived image of UAE, as those highly skilled people happen to be extremely freedom loving individuals wishing to exercise their citizen and democratic rights. Again this is no criticism of UAE, just noting a (pure) competitive disadvantage from a business perspective. Is it okay to say this?
Why would you relocated AI experts to UAE? All tech experts you can hire remote you and will cost you much less.
Why would it not be okay to say this?
@@emileriksen2481 because the line between criticizing UAE, which is not well recepted, and simply talking about business problems, is vague, fuzzy and unclear
@@deserialized thats not how it works when you have a really big important software project - you need people in a room, at least sometimes, and the more, the better. Been in the industry 30+ years. We're not talking some hypey app stuff here
Yep, that's why they won't become tech hub - it is simply not enough to enable infrastructure, tech and creative talents have certain expectations..
Am from UAE but am not satisfied with this
Uploaded video at the same time as Nomad Capitalist. Conspiracy? jk
Aye aye. UAE company if living there. No UAE company if not luving there.
UAE is the best for tax planning and freedom from Israel run countries.
Understandably some people have heart burn in digesting this fact
Top fan ❤. What's the best way to make money from crypto trading?
Dude. There's a quality of your voice's timbre that is very difficult to listen to. It's akin to a constant crackling of your voice as if you're not using enough air to fully annunciate your words, resulting in a over utilization of your vocal cords, which creating a constant din of noise akin to a low pitched crackling or gurgling at the lower frequencies you speak at, that seem to also resonate with microphone and recording equipment thereby amplifying the noise. It's about the best way I can explain it. I suggest you consult with an audio engineer to see how you can set levels and utilize filters to minimize that most distracting timbre in your voice.
Canadian accents are famous for that.😂
He sounds like a Giant to me with a deep crackling voice!! It's not high pitch. It's not low class. It's like he talks while in pain while gargling water lol