I've been seriously contemplating the idea of relocating to Dubai. In fact, I've had the chance to spend a fantastic four-month period there, which made me strongly consider it as my second home. Your videos have been an immense source of assistance, providing valuable insights and guidance. I genuinely look forward to enjoying more of your informative content. Keep up the excellent work!
Do you use any tax/vat agency for accounting, reporting, bookkeeping, tax residency change, etc? or you can do it all by yourself? I've contacted SPC Freezone, but as far as i understand all they do is help you to open a company, get a visa, and later on you're on your own with all the formalities
What's the routine work you do to maintain your SPC entity? Is having your records audited mandatory for example? Is there an online corporate tax service like in the UK which is relatively easy to follow and keep an eye on the upcoming tasks?
Actually they have just changed it- until now I have done basically nothing but now it is mandatory to do a tax service. I’m doing it myself at the moment will make a video on it when I have more info
Important note: If you plan to manage your UAE business from outside of UAE (stay 359/365 days outside of UAE) - your free zone company will become a tax resident in the country you live in. And has to pay corporate and individual taxes in that country (as it's operated/managed from that country). There's a very high chance you can away with not reporting your UAE company to local tax authorities, but its still illegal.
In some places it's waaay less time than this. For example if you're in uk more than 90 midnights in a tax year and have ties in uk like family then your freezone company gets caught in cfc rules and is taxed as being in UK. The rules are complex and unless you actually live in UAE it's very easy to fall into cfc rules
This is the problem with public platforms that you can't get "real world" information. You have be very "legal" about the advice you provide which may be completely opposite to how things work in the real world.
Hey Mabel, great video! I am doing research on how to choose the right freezone company for my business and your video was definitely very helpful. Would you mind sharing some questions you think someone should definitely ask when talking with a freezone? Ex: Renewal fees etc. anything you can think of, if you were starting new. Thank you!
Dou you have to rent an office even if you have an online business? And how much total costs and yearly all ongoing costs in setting up business (in usd currency)?
The good thing about my free zone is that you don’t need an office space you can just do the coworking lease (mandatory because you need some address). Links in the description :)
Hi Mabel - great info thanks. Do you need to pay your company licence fee each year and what else do you pay annually like extras for leasing, work permit etc? I have an online business so looking for fully virtual working like you so do you need a lease at all or is that just for the company address? You mentioned putting “Investor” on your licence - do you recommend just having Manager or CEO instead then? Do you need to get your academic qualifications authorised in the UAE and in the UK for the visa? Do you need to put Share Capital (eg 50k AED) into the company’s bank account to set it up and did you need to travel to Shajah to do paperwork and medical etc? Sorry, lots of questions here!
Hey!! Yep you pay the license every year, as well as any office space/coworking space lease (mandatory even for online biz). I’m not sure for other free zones but for mine, the owner of the company must be listed as “Investor”. For qualifications I don’t think you need to do anything for them but I’m not 100% sure because I didn’t go to university and each industry might be different! Hope this helps!
Share capital- no it depends on the bank. For the bank I recommend Wio, you don’t need to deposit :) And I needed to travel to Sharjah once but not too bad! It’s near Dubai just avoid traffic hours :)
Apparently if you are making anything, even cakes for example, you have to pay $50K to set it up, not 100% clear on it but something to look into before setting up.
Hey thanks for watching!! Hmm good questions, I would check with the freezone itself because you might be limited to only operating in the freezone itself. Good luck!
Hello Mabel! I've newly formed with SPC. Don't have a Wio account yet, awaiting for it. How do you withdraw salary from Wio Business? Is WPS mandatory for SPC? Also, can salary be withdrawn via ATM or is it just via a Wio business bank transfer?
Hey!!! Awesome so glad to have helped. Hope you used my link! 🙏 for the salary withdrawal I usually just transfer it to my own account. Never heard of WPS here actually. Yeah you can get a bank card for your account to make withdrawals. Hope this helps!
@@mabelgoulden872 Thanks! I had actually reached out to them earlier before I saw your video, so I couldn't use your link. But, I like your vlogs and guides especially for Social Media Management. I hope you become more prominent in the UAE blogger space. God bless you!
Hi Mabel! Thanks for the video, I'm wondering since freezones don't allow you to trade outside the freezone - do you still service clients outside of your freezone or limit your business activities to the area you're in?
Hey thank you for watching! great question. You are right you are limited to working within the freezone. For me personally my business is online so I have not had any issues. But yes for example if I was a personal trainer or providing a service in person I would need a different license. I think! I hope this helps :)
Can you please suggest some good banks to open my business and personal account with after setuping freezone company Who can open my bank account in less then a week without any hassel.
towards the end of the video you talk about the personal account, if I understood correctly opening a personal account is quite possible with a debit card but not a credit card that's it ?
Thanks for the information thats probably needed by anyone who wants to open new company. I just wanted to ask at SPC, is it easy to open a bank account with minimum balance after getting your company ready? Any difficulties?
Hello Mabel, thank you for your information. I want to open a trading license at freezone and I have some questions. Can I go to the freezone directly by my own to complete my license or need to go through an agent? And lastly, have you any idea about SHAMS freezone and if yes then, how much would be the cost for that license? Thanks in advance.
Hello! Thanks for watching. Yes you can go directly to free zone, this is what I would recommend. For example I went directly to SPC (link is in the description). And for SHAMS I’m afraid I have no experience of them. Good luck!
Hello...Can all this process be done without an agency can it be done directly through the relevant ministries? Also if you have an online business and don't need a physical location do they give you a virtual address? Kind regards AJ
I just want to open a new bank account in Dubai so that I can get rid form Canadian tax is it possible to open a account like that and i am a game developer so I can withdraw my money in Dubai without paying taxes ?
Hey, ive dm'd you and filled out the form and have received no replies, would appreciate it if you could reply please as i'm looking to move to Dubai soon. Thanks in advance.
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I've been seriously contemplating the idea of relocating to Dubai. In fact, I've had the chance to spend a fantastic four-month period there, which made me strongly consider it as my second home. Your videos have been an immense source of assistance, providing valuable insights and guidance. I genuinely look forward to enjoying more of your informative content. Keep up the excellent work!
So glad I could help!
Thank you so much for the helpful video! Please could you link the video you were referring to with the full cost breakdown?
Glad you found it helpful! Yes of course: th-cam.com/video/0G4-DYJxdkA/w-d-xo.htmlsi=A74y8FpESVwNhgho
Do you use any tax/vat agency for accounting, reporting, bookkeeping, tax residency change, etc? or you can do it all by yourself?
I've contacted SPC Freezone, but as far as i understand all they do is help you to open a company, get a visa, and later on you're on your own with all the formalities
Yes that’s right you can do it yourself!
What's the routine work you do to maintain your SPC entity? Is having your records audited mandatory for example? Is there an online corporate tax service like in the UK which is relatively easy to follow and keep an eye on the upcoming tasks?
Actually they have just changed it- until now I have done basically nothing but now it is mandatory to do a tax service. I’m doing it myself at the moment will make a video on it when I have more info
Thank you so much Mabel
You’re welcome!
I did the form now waiting
What is the benefit to run the business in uae if you want to stay in your own country and manage the business from there ? 🙏
Security, Vibes, 0 taxes, Quality of life, Weather ...
Important note:
If you plan to manage your UAE business from outside of UAE (stay 359/365 days outside of UAE) - your free zone company will become a tax resident in the country you live in.
And has to pay corporate and individual taxes in that country (as it's operated/managed from that country).
There's a very high chance you can away with not reporting your UAE company to local tax authorities, but its still illegal.
That's a great point to add! Thank you!
In some places it's waaay less time than this. For example if you're in uk more than 90 midnights in a tax year and have ties in uk like family then your freezone company gets caught in cfc rules and is taxed as being in UK. The rules are complex and unless you actually live in UAE it's very easy to fall into cfc rules
I was thinking about this and going to ask lol... thanks !!
This is the problem with public platforms that you can't get "real world" information. You have be very "legal" about the advice you provide which may be completely opposite to how things work in the real world.
Thank you so much for this amazing and informative video! :)
Thank you so much Mabel
Hey Mabel, great video! I am doing research on how to choose the right freezone company for my business and your video was definitely very helpful. Would you mind sharing some questions you think someone should definitely ask when talking with a freezone? Ex: Renewal fees etc. anything you can think of, if you were starting new. Thank you!
Definitely ask for renewal fees, the terms for hiring employees if needed, and whether they require an office space or coworking
Thank you
Well done 💓great episode to watch x
Thanks so much
Welcome!
What tax records do you need to keep? Do you need an accountant and submit records etc? Any tax to pay such as the new 9% tax?
I want to start a company in Dubai which agents is better?
This is awesome! Thank you!
You’re welcome’
Thank you very helpful
You're welcome!
Very helpful= I thought it was zero tax, as that is a major reason Id move there.
Thanks for watching!
Dou you have to rent an office even if you have an online business? And how much total costs and yearly all ongoing costs in setting up business (in usd currency)?
The good thing about my free zone is that you don’t need an office space you can just do the coworking lease (mandatory because you need some address). Links in the description :)
@@mabelgoulden872 🙏
Do i need to setup for a blog?
Hi Mabel - great info thanks. Do you need to pay your company licence fee each year and what else do you pay annually like extras for leasing, work permit etc? I have an online business so looking for fully virtual working like you so do you need a lease at all or is that just for the company address? You mentioned putting “Investor” on your licence - do you recommend just having Manager or CEO instead then? Do you need to get your academic qualifications authorised in the UAE and in the UK for the visa? Do you need to put Share Capital (eg 50k AED) into the company’s bank account to set it up and did you need to travel to Shajah to do paperwork and medical etc? Sorry, lots of questions here!
Hey!! Yep you pay the license every year, as well as any office space/coworking space lease (mandatory even for online biz). I’m not sure for other free zones but for mine, the owner of the company must be listed as “Investor”.
For qualifications I don’t think you need to do anything for them but I’m not 100% sure because I didn’t go to university and each industry might be different! Hope this helps!
Share capital- no it depends on the bank. For the bank I recommend Wio, you don’t need to deposit :)
And I needed to travel to Sharjah once but not too bad! It’s near Dubai just avoid traffic hours :)
You’re a rockstar, thanks for the info! It’s a nightmare finding good info on this topic!
@@rls8599 you’re welcome!! Honestly I know I’ve been there 😅😅
I have recently started my own handmade skincare business in my country..
Can i start this from Dubai as well?
Any info on this?
That's great, yes I think if you sell online you can. If you need store then it's different
Apparently if you are making anything, even cakes for example, you have to pay $50K to set it up, not 100% clear on it but something to look into before setting up.
The only way to do great work is to love what you do. Steve Jobs
Do you need to an accountant to report your income etc ? or its not required
Not required in my experience
I need your help to establish a company….
Sure message me on IG
Hi! Thanks for your help and your videos!! I would like to open a beauty salon in Dubai. Wouls you reccomand this type of business?:)
Hey thanks for watching!! Hmm good questions, I would check with the freezone itself because you might be limited to only operating in the freezone itself. Good luck!
WIO now introduced monthly plans to run the business acount, was it free for you?
Just the first 2 months were free with a promotion
Hello Mabel! I've newly formed with SPC. Don't have a Wio account yet, awaiting for it. How do you withdraw salary from Wio Business? Is WPS mandatory for SPC? Also, can salary be withdrawn via ATM or is it just via a Wio business bank transfer?
Hey!!! Awesome so glad to have helped. Hope you used my link! 🙏 for the salary withdrawal I usually just transfer it to my own account. Never heard of WPS here actually.
Yeah you can get a bank card for your account to make withdrawals. Hope this helps!
@@mabelgoulden872 Thanks! I had actually reached out to them earlier before I saw your video, so I couldn't use your link. But, I like your vlogs and guides especially for Social Media Management. I hope you become more prominent in the UAE blogger space. God bless you!
Hi Mabel! Thanks for the video, I'm wondering since freezones don't allow you to trade outside the freezone - do you still service clients outside of your freezone or limit your business activities to the area you're in?
Hey thank you for watching! great question. You are right you are limited to working within the freezone. For me personally my business is online so I have not had any issues. But yes for example if I was a personal trainer or providing a service in person I would need a different license. I think! I hope this helps :)
Can you please suggest some good banks to open my business and personal account with after setuping freezone company Who can open my bank account in less then a week without any hassel.
Yep definitely I have a video on it also. It’s called Wio bank
Do you have a personal connection? this link takes you to SPC.... Thanks
They created me a personal link on their site so you’ll fill it in and Paul will contact you
towards the end of the video you talk about the personal account, if I understood correctly opening a personal account is quite possible with a debit card but not a credit card that's it ?
Some banks will allow you to use credit card also, I asked my freezone and they said it depends on the bank
Thanks for the information thats probably needed by anyone who wants to open new company.
I just wanted to ask at SPC, is it easy to open a bank account with minimum balance after getting your company ready? Any difficulties?
They do have a bank account opening VIP service but I didn’t use it, I went directly to Wio and there’s no minimum :)
@@mabelgoulden872 Appreciated!
Hello Mabel, thank you for your information. I want to open a trading license at freezone and I have some questions. Can I go to the freezone directly by my own to complete my license or need to go through an agent? And lastly, have you any idea about SHAMS freezone and if yes then, how much would be the cost for that license? Thanks in advance.
Hello! Thanks for watching. Yes you can go directly to free zone, this is what I would recommend. For example I went directly to SPC (link is in the description). And for SHAMS I’m afraid I have no experience of them. Good luck!
@@mabelgoulden872 Thank you
Which kind of business you doing?
Social Media marketing :)
Hello...Can all this process be done without an agency can it be done directly through the relevant ministries? Also if you have an online business and don't need a physical location do they give you a virtual address? Kind regards AJ
Yes go direct to spc, fill the form in the description and I’ll connect you
Can you work anywhere else as an employee or you cannot because you are on an investor Visa?
I don’t think you can
Thanks @@mabelgoulden872
I just want to open a new bank account in Dubai so that I can get rid form Canadian tax is it possible to open a account like that and i am a game developer so I can withdraw my money in Dubai without paying taxes ?
You will need a visa to open a bank account
Beautiful girl❤
You are so kind
I want open manufacturing business In rakez freezone what is u r advise
Don't bother rakez
You are not British
🤔
Can you connect me with your agent please ?
Hey! Yes of course link is in the description
Dear you information is not updated
It is
What's up Mabel can I have the Number of the Agent please
Message me on Instagram I’ll send it’
@@mabelgoulden872 I don't have Instagram
Hey, ive dm'd you and filled out the form and have received no replies, would appreciate it if you could reply please as i'm looking to move to Dubai soon. Thanks in advance.
Hey! If you filled the form you should have received a text from SPC, let me know if you didn't yet!
@@mabelgoulden872 Hey, thanks for the reply, I didnt receive a text yet.
I just apply for the Refer me to your SPC Freezone agent! Please respond ;) Thank you
Fill the form in the description!
Was this your first time opening a business or did you own a business before arriving in Dubai?
First time
Interesting video, but the vocal fry honestly ruined it for me.
Thank you!!! 💞💞💞💞💞
Please become more professional, your videos have annoying echo. Invest in a mic!
Thanks so much x
Such a waste of time…
What
Hey Mabel! I don’t have an Instagram account. Could you connect me with your agent at SPC to establish my business? Thanks so much!
Hello! Yes sure please fill in the form in the description link!