I'm currently going through the exact same process, not with the same agency (one called Smartzone) but with the Dubai Silicon Oasis freezone (though I initially thought I was dealing with IFZA haha). I signed the Resolution yesterday, now waiting for the confirmation of the company setup. Then the e-visa. I'm running a bit out of time compared to the schedule I had initially, but I'll get there - hopefully soon! I didn't know get the EmirateID could take weeks. I thought it was a matter of days! Anyway thanks for sharing your experience, that's always useful to have the feedback of someone going through the same situation :)
Good luck with everything! But yeah, Emirates ID takes a while and it just comes down mainly to the waiting time between your medical test and biometrics appointment. Just get an Airbnb or a hotel apartment in the meantime and it'll be all good!
I'm currently going though to setup company in dubai , Thank you so much for your information and sharing the experience from your new life in dubai , So when i get ready my new company i'll like to use your consultant for Ads in Dubai
Thanks Rasmus! Hypothetically, Would you have been able to keep your danish company and pay your Dubai company a management / service fee (as an expense to danish company) ? This way you’d minimize taxes on your danish company?
Yes, you could in theory pay some sort of consulting fee recurring and have the employees hired in the Dubai company and then lease out their work for example. But i just chose to close it down completely for have less ties to Denmark and there's not any bonus for me keeping it
Can i ask a question with regards to the application for a business bank account for WIO bank for the free zone company? I was in Dubai this week and spoke to a number of banks about opening business bank accounts and they would insist on a site visit to show that your businesss was actively trading from the address given, was that something that WIO stipulated or not? THanks in advance!
Thank you for sharing info!! I am coach and was gonna do freelance visa. What made you to go what you set up instead of doing freelance visa route? I am working alone and wonder if I need to research on which is best after knowing you went to your route and if I am missing anything...pros and cons... Do you have to live in Dubai certain days a year to have your visa or residency?
Thanks for watching! From my understanding, freelance visa only works if you're one person. Since i have around 8 people on payroll, i can't do a freelance visa. But a friend of mine did that, and she said the process was super easy, so i'd recommend you to look into it! You just have to be in Dubai 90 days of the year to keep your residency
I do not pay taxes do Denmark anymore no. You have to talk to an accountant to get everything settled in your home country, there's most likely going to be an exit tax and other affairs you'll have to figure out how to deal with
@@rasmusgutfelt Thanks- Was there a period you had to pay tax while in dubai and have you relinquished the danish citizenship? Ok if you dont want to answer
No, as soon as i renounced my tax residency in Denmark i didn't have to pay any income tax. In Denmark we can do that by just emailing the tax authorities. I still have my danish citizenship, so i still have a danish passport
Can anybody repeat these steps, or do you need to have a pre-existing business that is producing at least a minimum $ amount of revenue/profit per year before you can move?
Everyone can reproduce these steps as this was the process for me to set up a new company. Still, please consult a company to set up everything for you to make sure that things get done properly
Thank you for taking the time to make these videos.
We're moving there next year. Can't wait!!
I'm currently going through the exact same process, not with the same agency (one called Smartzone) but with the Dubai Silicon Oasis freezone (though I initially thought I was dealing with IFZA haha). I signed the Resolution yesterday, now waiting for the confirmation of the company setup. Then the e-visa. I'm running a bit out of time compared to the schedule I had initially, but I'll get there - hopefully soon!
I didn't know get the EmirateID could take weeks. I thought it was a matter of days!
Anyway thanks for sharing your experience, that's always useful to have the feedback of someone going through the same situation :)
Good luck with everything! But yeah, Emirates ID takes a while and it just comes down mainly to the waiting time between your medical test and biometrics appointment. Just get an Airbnb or a hotel apartment in the meantime and it'll be all good!
Top man. Fantastic info. Just subed . Keep up the great work Rasmus! 👌🙌
Thank you!
Great video that is much needed
Thank you!
I'm currently going though to setup company in dubai ,
Thank you so much for your information and sharing the experience from your new life in dubai , So when i get ready my new company i'll like to use your consultant for Ads in Dubai
Awesome! Feel free to reach out when you need help 🤝🏼
Thanks Rasmus!
Hypothetically, Would you have been able to keep your danish company and pay your Dubai company a management / service fee (as an expense to danish company) ? This way you’d minimize taxes on your danish company?
Yes, you could in theory pay some sort of consulting fee recurring and have the employees hired in the Dubai company and then lease out their work for example. But i just chose to close it down completely for have less ties to Denmark and there's not any bonus for me keeping it
Can i ask a question with regards to the application for a business bank account for WIO bank for the free zone company? I was in Dubai this week and spoke to a number of banks about opening business bank accounts and they would insist on a site visit to show that your businesss was actively trading from the address given, was that something that WIO stipulated or not? THanks in advance!
Is there a more complicated process anywhere else in the world?
Thank you for sharing info!!
I am coach and was gonna do freelance visa.
What made you to go what you set up instead of doing freelance visa route?
I am working alone and wonder if I need to research on which is best after knowing you went to your route and if I am missing anything...pros and cons...
Do you have to live in Dubai certain days a year to have your visa or residency?
Thanks for watching! From my understanding, freelance visa only works if you're one person. Since i have around 8 people on payroll, i can't do a freelance visa. But a friend of mine did that, and she said the process was super easy, so i'd recommend you to look into it!
You just have to be in Dubai 90 days of the year to keep your residency
@@rasmusgutfelt Thank you for the info!!!! 90 days!! 😊
@@rasmusgutfeltwas your friend able to use the freelance visa to create a tax free dubai bank account?
Hi mate. Thanks for sharing. Can I do the same as forex trader I have no company.
I assume so but check with a company that does business setups 😊
Rasmus- great video do you have an accountant in Dubai you would recommend..?
Thank you! Unfortunately i do not
Great video! May I ask how much did each step cost?
I paid $7000 for the whole thing. Can't provide a cost breakdown for each step as the company who helped me did everything
Do you still pay tax to your danish country? And or how was/is your road to become tax-free?
I do not pay taxes do Denmark anymore no. You have to talk to an accountant to get everything settled in your home country, there's most likely going to be an exit tax and other affairs you'll have to figure out how to deal with
@@rasmusgutfelt Thanks-
Was there a period you had to pay tax while in dubai and have you relinquished the danish citizenship?
Ok if you dont want to answer
No, as soon as i renounced my tax residency in Denmark i didn't have to pay any income tax. In Denmark we can do that by just emailing the tax authorities. I still have my danish citizenship, so i still have a danish passport
Can anybody repeat these steps, or do you need to have a pre-existing business that is producing at least a minimum $ amount of revenue/profit per year before you can move?
Everyone can reproduce these steps as this was the process for me to set up a new company. Still, please consult a company to set up everything for you to make sure that things get done properly
How many years is your visa for? And does your business have to keep producing a certain amount of revenue for you to be able to renew your visa?
@@meetrajesh My visa lasts 3 years. As long as i can pay for my business licence renewal each year i can continue to have my business running