Six Benefits of Incorporating in Dubai
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- เผยแพร่เมื่อ 28 มิ.ย. 2024
- Our article on UAE Residence by Investment: the Ultimate Guide:
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The UAE is a primary destination for businesses to set up their regional base and serve the growing markets in South Asia, Africa, and the Middle East.
We have vast experience in providing services for successful entrepreneurs who wants to move to Dubai and incorporate their business there.
Reminder: The United Arab Emirates (UAE) has announced plans to impose a new 9% federal corporation tax from 1 June 2023.
That news can't change a lot because in this video Andrews shares six benefits of incorporating in Dubai and explains why new tax may not be a deal-breaker.
00:00 Start
01:01 UAE Free Zone
01:51 Tax-Free for You and the Company
02:41 Simple Process
04:19 You Get a Residence Permit
05:54 You Can Open Personal and Business Banks
11:58 You Don’t Have to Live in Dubai
07:59 You Can Hire People from Everywhere
09:53 The Pros of Moving to Dubai
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.
Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
One thing I've heard about Dubai is how incredibly safe it is even late at night.
Yeeeeeeeessss
Yes, this is true. Was just there & ppl were saying that you could leave your cell phone out on a public table (like at a restaurant) for a few hours & then come back to pick it up. Many ppl told me about how safe it is there.
@@troyswood I live here, and thats how you reserve a table. If I arrive before my friends, and need the bathroom, I leave my wallet and phone on the table.
Yes been going Dubai for 12 years out on average 2am in the morning absolutely no trouble very, very safe
To me, the idea of being okay with paying at least a little something is great as long as the money is efficiently paying for services or products needed to at least maintain the status quo of the nation. One of the reasons why I left the US is because I felt as though I was constantly being ripped off.
Where are you at now?
Same with Canada, except worse.
Thank you for the video!
In addition uae is giving golden visas for expats which is an amazing step ...u can get 5 or 10 years golden visa to live if you are investor etc
Very informative and helpful, thanks Andrew. To be honest, Dubai was not on my radar before this video.
Just posted about doing this in 14 days - from set up to opening the business bank account!
Thank you for your advice;(
Can you talk about the corporate taxes pros and cons between Dubai and Singapore for Canadian?
Great Video
Brilliant stuff
Thank you, David.
Dubai is actually awesome and is an emerging market
Maybe it's best to travel to these places that Andrew mentions and stay there for 90 to 120 days as Visa passport allow to get the feel of these places, people and cultures. Traveling as a tourist than living there which will give you a choice of deciding whether it's a place to stay or do business or both. Now a day people from all over the globe wants to move to other places. I live here in the US became a citizen but now I'm also thinking of moving overseas. I had a friend that's moving to live in Dakar Senegal.
Nice video.
Thank you, Max.
Andrew, thoughts on the recent European pressures towards the Caribbean CIP passports?
🤘😎👍I've been to Dubai several times on my way to Afghanistan, which is a long 18-hour flight! It's a beautiful place, but the summers are brutally hot!
Please read this, ironically I started a company Nomads bnb, an LLC, during the pandemic I had liquidity issues, no assitance or delays, I had to break some contracts, I was personally held liable for all the company liabilities, I EVEN WENT TO JAIL FOR 12 days, and I am still paying those debts, I am banned from leaving the country and I am still being chased…
LLC laws do not protect you, they are a joke, there is no such thing as limited liability in UAE, they pierce the corporate veil, the laws and what really happens are not the same
Be very careful!!!
@@mm80134 Sucks to be you. They learned back in 2008 that many foreigners would take on huge debts, and then leave the country when their business failed. There were so many cars abandoned at the airport that it wasn't funny.
Isn't Afghanistan also got during summers
@@izac90210 it depends on where you are in Afghanistan.
@@mm80134 thank you for sharing your experience. I have heard other stories, not tax related, that takes UAE off the list for me.
Thank you for your video!
What would better free zone (JAFZA / Ajman / RAK) option to setup offshore UAE company for international payment services?
Consideration to maybe 3 months out of the years, 6 Months in Switzerland, Montreau and the rest between Antwerp, Belgium and Texas.
@@torontovoice1 I think it's 90 days in Switzerland.
One should consider placing assets and Company under a TRUST.
Please read this, ironically I started a company Nomads bnb, an LLC, during the pandemic I had liquidity issues, no assitance or delays, I had to break some contracts, I was personally held liable for all the company liabilities, I EVEN WENT TO JAIL FOR 12 days, and I am still paying those debts, I am banned from leaving the country and I am still being chased…
LLC laws do not protect you, they are a joke, there is no such thing as limited liability in UAE, they pierce the corporate veil, the laws and what really happens are not the same
Be very careful!!!
Yes
In my opinion, UAE is fantastic for residence if you work here or have personal wealth. It is a tad over complex for company incorporation. It is improving rapidly, though I am still not a fan of buying property here, compared to say Turkey, Northern Cyprus or Portugal.
any specific reason being not a fan of buying property there?
Could you please share your views on the Golden Visa for UAE and how attractive is this proposition?
Welcome to Dubai
Love the white angel behind you
Thank you. Dubai is one of the country’s on my radar!
If you're an Indian citizen and you take a residence permit in UAE by opening up your business there, it is required that you stay in India only for 120 days in a year. Then you won't be taxed in India for your income accrued outside India (UAE). But if you exceed 120 days stay in India, your tax benefit is gone and you'll have to declare and pay tax in India for your income accrued outside India (UAE).
That to if you earn more than 15 lack taxable income from india right if you have an llp company to maintain businessses in india then its dividend will not taxable so you can stay upto 179 days in india
If your emirati company does business both inside and outside the country is it liable to the 9% tax?
If I want to invest in Dubai real estate and international stocks, will I get taxed the corporate rate for holding these assets in a holding company?
A big mall in the dessert......
Lol
Dubai is a city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai. According to the most recent study conducted by Freedom House, the UAE has a rating of 17/100 (100 being the best), and as such is rated "NOT FREE." One may be able to incorporate there for certain tax reasons, but no one in their right mind would ever want to live there. You'd be better off living in Turkey or Jordan than living in Dubai.
why u don’t support living there?
What do you mean? People here can wear shorts and flipflops and go clubbing as freely as people can wear hijab and go to the mosque. I never saw a place as organized and neat as Dubai, their philosophy is order, peace, mutual respect, no hate and no crossing boundaries. it's very young and budding and the brutal heat is a significant disadvantage
@@AbdellahBerhil Political rights: 5/40....Civil Liberties: 12/60...Combined Score: 17/100 "Not Free" Money isn't everything, my friend.
@@___________2204 Political rights: 5/40....Civil Liberties: 12/60...Combined Score: 17/100 "Not Free". The things which you mentioned do not equate with political freedom and civil liberties. Are you willing to exchange freedom and liberties for "shorts and flipflops", my friend? And I'll venture a guess that the privilege of wearing "shorts and flipflops" only extends to males, not females. Cheers and best wishes.
@@fumble_brewski5410 I agree
Thanks Andrew as usual! I just didn't understand one thing. Shouldn't I be spending at least 182 days in Dubai to be considered fiscally residence there? Meaning I can't just pop up two days a year and state that I pay my taxes in UAE right? Otherwise everyone would say live in Thailand and be a couple of days a year in Dubai: is that a possibility?
You have to visit once every 6 months - that’s it.
@@samfahey943 Not required if you are on a Golden Visa.
This is one the best video I have watched today, a wonderful channel . SUBBED and liked ! a fellow creator $$$
UAE is interesting - very progressive - making all the right noises
Moved our business to Dubai this year. If you do the same thing you'll probably want to end it all after a few weeks. Why? The paperwork and intricate details of starting/moving your business to Dubai are extremely confusing and annoying. You cannot just buy an LLC like we do in the west. It was worth it as we pay zero tax now and the place is awesome, but still, good luck on setting up your business in there. Thankfully we found a business setup consulting company to handle everything for us, otherwise the process would take months I think.
I like Dubai
You mentioned Labuan, what is the current situation regarding starting a company there, tax and residency?
NC has not talked about it in a while. My personal experience is that Labuan is not worth it anymore. I'm closing my corp there. They have very high substance requirements now. You need a Labuan office, with full time employees. The tax cap is gone too.
Would be nice to move to the UAE.
Can you set up a company in Sharjah free zone and live in Dubai? Or can you only live in the Emirate you incorporate in?
You don't even need to live in Dubai/Sharjah to open up a freezone company. I speak from experience.
Yes but why do you want a Sharjah Free Zone? You will not het a bank account
@@enissljivo4387 You definitely can get a business bank account for your Sharjah FZC LLC. Check out Rakbank. Not sure where you are getting your information from...
@@skateforhero The banks have become way stricter in the last few months. But even if you can get the a bank account, why would you go to Sharjah? To save USD 1K per year? for each and every documentation you will have to drive up and having a Dubai address is way better for your company image. Imagine having a half decent company with the company address in Sharjah, most people do not even know where that is...
@@enissljivo4387 It's a freezone company. Why would anyone care if it's in Sharjah or in Dubai? Our e-commerce business runs perfectly fine with the Sharjah set up.
Opening up a bank account has always been in a pain in the UAE. We endorsed a local company to make introduction to bank managers. After a rather long background check with lots of paperwork and a face to face meeting, it was settled.
Hello Andrew , l am from a country without CFC rules , so is it possible to open a company in UAE and live in my country not paying tax?
Please read this, ironically I started a company Nomads bnb, an LLC, during the pandemic I had liquidity issues, no assitance or delays, I had to break some contracts, I was personally held liable for all the company liabilities, I EVEN WENT TO JAIL FOR 12 days, and I am still paying those debts, I am banned from leaving the country and I am still being chased…
LLC laws do not protect you, they are a joke, there is no such thing as limited liability in UAE, they pierce the corporate veil, the laws and what really happens are not the same
Be very careful!!!
It depends on Tax Law in your country.
UAE Government will always give priority to its nationals over temporary residents. Covid vaccinations were distributed in this order. It will never change. Hence the Govt has no policy about naturalization.
People think they can go there and have a permeant life and live like kings. The ignorance is blinding.
Not really. I am Indian expat in UAE and myself and wife got free covid vaccines two doses and it was in best hospital in Abu Dhabi Cleveland. It was free and best experience, even in my country government charged for it and wasn’t organised well either. We were lucky to be here during that time.
How long would you have to visit per year to keep your residency valid?
You have to visit 2 times per year to keep visa. The condition is you can't be away for 6 months consecutively. You'll find that easily on official websites if you want to verify.
I work for a free zone that can issue a visa that allows you to visit only once per year, fell free to reach out to me
It is a complete waste of money with everything inflated in price. Its hell on earth in the summer and most places are getting old and over used. Its on the grey with fatca and u have to pay with ZERO benefits absolutely NO BENEFITS!
,;)
The UAE/Dubai continue to commit serious human rights violations, including arbitrary detention, cruel and inhuman treatment of detainees, suppression of freedom of expression, and violation of the right to privacy. The United Arab Emirates (UAE) continue to deprive stateless individuals of the right to nationality, impacting their access to a range of services. According to Human Rights Watch, the UAE detains those who criticize authorities, including hundreds of activists and academics, and Emirati laws discriminate against women, migrants and LGBT individuals. Flogging and stoning are legal forms of judicial punishment in the UAE due to Sharia courts. As a result, the UAE routinely ranks near the bottom of many international measures for human rights and press freedom. So if money is all you care about, then by all means live in Dubai/UAR. Just keep your opinions to yourself and you'll be fine.
You belongs to LGBT?
only 2 problems 1-full of Indians ,,even hotels and supermarkets mostly Indian style and smell , 2- very hot weather from April to October ,I mean very hot ,,but amazing weather in winter
Yeah, would have been a medieval desert shit hole without the sacrifice and contribution of Indians
I agreed it becoming dirty and the air is horrific
Dubai is made by cheap labourers that from india. skyrappers toll building built by indian. Big smart road built by Indian do you know real fact of dubai?Maximum All the vegetables groceries comes from India. Their wealth behind dirty sweat diying labour.
You have problem with Indian?
Moved our agency to Dubai this year. If you do the same thing you'll probably want to end it all after a few weeks. Why? The paperwork and intricate details of starting/moving your business to Dubai are extremely confusing and annoying. You cannot just buy an LLC like we do in the west. It was worth it as we pay zero tax now and the place is awesome, but still, good luck on setting up your business in there. Thankfully we found a business setup consulting company to handle everything for us, otherwise the process would take months I think.
There are a lot of companies that help with the business setup process but I don't know which one to trust. Who did you work with?