Day in the life setting up a business in Dubai | Matt & Summer
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- เผยแพร่เมื่อ 16 ก.ย. 2024
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Great video, helped us a lot. We moved our ecom brand to Dubai this year and we are extremely pleased with our current situation.
But I have to say it is not exactly easy to set up your company in Dubai by yourself. The paperwork and some other intricate details turned out to be extremely confusing for us. Thankfully the process is almost automated and very cheap thanks to business setup consultancy firms in there - we moved our company to Dubai with them.
Now we pay zero tax. Changed everything for us. Would recommend, Dubai is the future
what's the name of the consultancy firm you worked with? can't trust many of them
@@Helen-tr6ewsame question here
also, starting a business helps people in the community there too. Dubai and the UAE overall is still developing (really fast but still developing), so setting up business there itself helps people in its own way. And if you can grow your wealth and fund community programs back home in the UK you have much more control over HOW to contribute. So well done u two! Good luck on ur ventures.
This is the dream! Chasing financial freedom together as a couple. Loved the video!
Wish this video could be shown in schools; the financial/business insights that you've shared are invaluable. Awesome!!! 😊
Ah thank you just doing what we can to pass on what we’ve learnt 😁
schools are to create workers, not create business people who know how to become financially free. The whole world cant be financially free under the monetary system, only some will be financially free and some wont its built into the system. There is not enough money is existence to pay back all the loans that are outstanding because of the banking procedure (fractional reserve lending) which now there is no reserve. This means if you are not an elite level banker, owner/shareholder of a bank who profits off creating money from others by creating it when others need it, then you are in the dog eat dog world we are all in because of this rigged banking scam which the elites (federal reserve owners) are keeping us in in a whole load of ways because the majority dont wake up to it or if they do dont know what to do to put an end to it. Anyway keep borrowing people until this bubble bursts maybe around about 2030 maybe inline with agenda 2030 probably. Or maybe not and all of the above is just the ravings of a lunatic.
Guys this video couldn’t have come at a better time. Just got back from Dubai with my partner and we feel so inspired! Definitely opened my eyes and mind to more. This video has been super super helpful so thank you so much 🙏🙏🙏🙏 given me insights to things I’ve wanted to know!
I very much appreciate you guys, your willing to show others and especially the youths to think big , think outside the box, the possibilities are endless; you guys are youths yourselves, your honesty and openness to help others are priceless!!👏🏽🙏🏽
Never thought about Dubai as a business alternative for digital nomads. Very informative video. Thank you!
for real? everyone seems to want to be there for biz.
its wonderful to support everyone and show us how to begin! thanks guys
Agreed thank you!
This is very beautiful, back in the days people couldn't wear shorts etc, this country is very beautiful I pray 🙏 I can visit. Thanks for the advice 🙏 👍
No problem! You are allowed to wear shorts in the touristy areas its more definitely a lot more relaxed now:)
Love this so much guys hearing you guys chit chata and talk business. Love it Mat and Summer!!!
Thank you! Passing on everything we learn 😊
Got a lot from this video before I set up my company in Dubai - will always be grateful for this. So paid it forward....including what was needed to open a business bank account.
I found it quite confusing and a lot of the business setup firms added to that confusion, more than helped. My recommendation would be to ask questions, ask more questions, and continue asking until you're clear on everything. That's what I did - and then went with a firm that were the most patient and answered clearly.
Ultimately a mainland company made more sense to me - future-proofed and worked well.
Hi, guys
I have plan to go to dubai for work, so I have looked lots of youtubers.
I am happy to find you!!
you guys gave me such a great inspiration!
thanks for everything you give to us and fingers cross for your new journey!
Really appreciate the resident v. citizen disclaimer at the 10:00 mark, as I was watching your video for more information on things like this (for my own business).
Thank you a tonne. Keep up the good work.
You guys are literally living my dream. I wish id done something like this
You still can it’s never to late to be successful work at it and you’ll get there!!! 🔥🔥🔥
@@jsk852 I know, but im in my 30s now and no idea where to even start. I should have invested and thought about it earlier in my life 😩
Yh I see what you mean but you never know if you look into it you might find some ways around it and find a way to do it still!
@@jsk852 I’m gonna try at least! Trying to educate myself to see what would suit me and what is actually achievable. Ty ☺️
Your welcome I can’t wait for you to be successful ❤️
Really enjoyed this
Keep up the good work guys
Thankyou :)
love this stuff alot, proper makes me wanna push myself for that dream life with a wifey lmao live it up guys
I was told a couple of years ago that Dubai is like a ghost town and there are masses of units and properties that are unoccupied …what is your honest observation on this ….love your videos and keep up the good work…so excited to follow your Dubai journey 👍❤️
I know someone who’s got a travel business there and they don’t invest in property simply because it’s not worth it. It doesn’t pay off that quickly if you rent from what they told me. Perhaps it’s different with flips, but don’t think they’re that common since it’s all about new builds there
Great vlog guys!! Love Dubai! 🙂 Hope you're having a great time and best of luck with your business! 🍻
Thank you! 🙏🏼☺️
God bless you in all you do! Such an inspirational daily vlog! Thanks!!! Have a good night and see ya tomorrow 😉
Thank you so much ☺️ see you at tonight’s vlog!
What’s the company you used to set up your business there?
I love what you said about building your own wealth first before helping others :)
Thanks for posting I'm seriously looking at doing business in Dubai
Yay a longer vlog 🙌
More longer vlogs on the way ☺️
Matt & Summer, thanks for the awesome, informative video. Good luck with your plans.
15:40 Stayed at the address for my bday in September , fun fact this hotel has the tallest infinity pool in the world at the top, highly recommend to you going to the top has several bars and restaurants too.
You guys look happy and relaxed, really pleased for you.
I know there's a lot of opportunity to buy off plan property in Dubai, essentially you can purchase at a significant discount even if the property is just 6 months away from being fully built and ready to rent out / sell for an immediate profit. The discussion I had was with Damac but there are others out there.
The potential profit margin is theoretically much higher than general property investment - and a lot less work than you are used to doing - but it can be difficult to find a developer that that you can trust (based on online reviews who possibly didn't understand what was going on) but if that is a road you decide to go down would really appreciate you sharing that journey and providing recommendations :)
Be careful though. A lot of people got stung doing this many years back. If there is a property or financial dip during construction then you risk the property never getting finished
@@phildraper2100 True, best to start off small and build trust with the developer.
Don't even think about buying property there.....you don't really own it
I agree with Phil , buying off plan is risky and I know personally people who got stuck in unfinished developments after paying full price when the financial crises hit the region about 10 or 12 years age , the development owner left them with unfinished buildings.
This happened long time ago and I don’t know if they have new laws to protect the owners .
Just coincidentally came across your channel as we’re relocating to dubai also come January… and going to the same visa meetings next week! Thanks for sharing
oh awesome! dm us on ig if you need any recommendations or help. We will also post updated videos on how the process went for us:)
Really incite full especially for someone like me considering taking the leap and moving out to dubai
Me too. Very interested
Good luck setting your business in Dubai ❤️
Thankyou Manav!
What consultancy firm did you use to register your business? I’m looking to move & would really appreciate the info!
Thanks for the high quality & entertaining content !
Great informative video. Love this. Really providing us with a lot of value!
If I ever see you guys again I’m definitely coming to hi this time 😂😂 not missing that chance again I was the one that saw you in Cornwall that day at the beach Jamie Kelley ARTS I just changed the name of my channel love the vlog by the way 🔥🔥🔥🔥🔥
yes definitely say hi!! & thank you!
Hi, Matt and Summer-Really enjoyed your video. It was informative, honest and very well presented. Thank you
Thank you for sharing your journey , many new investors and digital nomads really don’t know the UAE option , the minor details are class 👌
Thank you appreciate that more on this coking soon 👌🏼
Thanks guys, looking forward for a business and find this vlog more important😊
Thank you soooo much!! Love your vlogs. Honestly so helpful!!! Thank you for being honest and sharing. Helping me a lot 🌸
Thank you guys , it's interesting to set up a business in Dubai. Good luck.
awww it looks so beautiful at night on the beach x although i dunno if i could cope with the heat in the daytime there.
in the winter months the heat is perfect, but I think it might get bit too hot in the summer months :)
What's the company you used to set this up in Dubai?
Send us a message on Instagram and we’d be happy to introduce you :) IG links in the video descriptions
OMG ure soo sweet really loving your couple and what u do and your interaction.
With all due respect to the creative zone consultant, his claim that it is easier to set up a corporate bank account for businesses that are on mainland basis is absolutely FALSE. Whether it is mainland or freezone set up, the main determinant to open a bank account for your business is the commercial activities and the nature of that business, the demographics of the market you will be targeting, etc. I feel sorry for all new arrivals who get fed with misleading information from so called business consultants. My message to business consultants: You are not a banker. Please don't think that you're qualified to provide banking advice to the public just because you want to sell your service.
yes right mate
It’s necessarily false, you can’t open accounts, no problem, but you need LOC’s or other facilities for your business, and banks risk assessment division would rarely clear a Freezone company for such facilities, a local company clears up faster because it’s easier to litigate on them, and provides the bank more assurance legally to get their money back.
@@abubakeralhussaini9536 Credit facilities such as LOC’s are rarely required by free zone businesses. Unless if they’re into trading of goods. Freezone business owners just want to open bank accounts, that’s their main concern. Plus, the financial turnover of the business and demographics are more important determinants to their credit eligibility. If the business is having a strong balance sheet and conducting its activities in demographics that are within the acceptable risk parameters of the bank, then there should not be complexities in availing credit facilities if required down the line.
@@moezak6497 hence, the advisor said “ corporate accounts “ , he Wasn’t technically wrong.
@@abubakeralhussaini9536 Mate, unless he was speaking a different language he clearly said that you’d have an easier time opening a corporate bank account for a mainland company. Which is innately inaccurate.
Great video thank you for sharing your experience!
Really looking forward to the buraj khalifa vlog, great video keep it up always love the content 😁!!.
Loving this daily vlogs, keep up guys
Thank you! It will continue for 2021! 😁
Really interesting vlog enjoyed watching.
Thank you so much 😊
Hey, you guys are super insightful. Thank you for doing this. If its okay with you, I would like to know what business consultants you are using? The guys in the video that are sharing with you info on having a business in Dubai . Kindly let me know. it would be a massive help.
Hey guys, came across your channel love the content! Hope you're enjoying Dubai. I am in real estate myself and it's a fantastic market
Matt and summer hope you guys are enjoying your venture in Dubai good luck with that! Thank you for sharing valuable information regarding set up business and tax benefits. I’ve restaurant in UK, soon I will be moving to Dubai soon open restaurant as well as some interesting opportunities. How can I contact you guys when I’m Dubai? Once again good luck with everything. Hope to see you soon. Take care
Nicely done business entrepreneurs. A real life entrepreneurship experience. Your presentation will give to a wider U.S. audience investors the necessary knowledge of business integration into the most competitive country in the world. Not many business owners would take the time to produce such insights. :) For most of the investors. Large capital and entrepreneurial skill is essential to make it big in Dubai. You must also have the right connection.
Very interesting and informative guys, great information¡ quite a lot I didn’t know about Dubai
The only way to do great work is to love what you do. Steve Jobs
You guys should set up a company to help other indivituals register companies... Our option is to go via companies that do and many times they are so pushy that they almost want to take you in a certain direction opposite to what is best for you... We have not met but i feel that i would feel more comfortable if you were helping me set up rather than a total stranger!!! Food for thought!
what legal company did you use for the business setup ?
It's nice to hear Vusi Thembekwayo's name pop up. Shout-out to S.A
It’s great to share that knowledge with people…just important to understand that a big part of the ability to have zero tax there is that funding comes from selling fossil fuels…without a carbon tax there is an unpriced negative externality which isn’t in your equation. Not your problem to solve though so fair play
Great video. Will you guys be going back to Bali next year?
yes definitely! Australia and Bali are on the list :)
Hello from Puerto Rico!! Thank you for this amazing content! Is there a website or platform in Dubai to see properties for sales??
Guys this is a great idea, taking us through the journey start to end! Apparently with the freezones it's really hard to open a bank account, but with it being onshore it's much easier BUT apparently there are more reporting requirements. I'm heavily invested in crypto and will look to start a consultancy based out of Dubai. So literally this is great, made this less daunting! Can you also talk about the fee's the agents/lawyers charge part of setting all this up for you?
Hey Moe, we have been advised with our business activities to create the company onshore, its a little more expensive (by 1-2k) we will update you in a future video on progress and also tell you how much it costed!
Planning to start crypto trading business in Dubai too. Hope the government is crypto friendly and more traders for hire over there.
Glad I discovered your channels. Subscribed :)
There is still a lot need to know in terms of information. I do business setups in UAE and Oman… lots of hidden costs involved. However, best of luck to you both ❤️
great information here . thanks for posting
@14:11 You guys don't have to justify anything to anyone mate. I say good for you for trying to look out for your family
Hey both Vlog was amazing ✨✨ ! Would you be able to do a meet up with Mike Thurston please, that's only if you find that time. It would be a great collab✨ but anyway thanks keep up the good work🌟
You both are inspirational and have such a lovely relationship. Do you plan on splitting up most of tour time between Spain (Marbella) and Dubai?
I think from what I know you don’t even have to split the time. They said they’re only required to spend 1 day per year there. They can go travel the world :)
Thanks for the knowledge sharing!
Thought you were trimming the hedge with that selfie stick 🤣
Very very interesting / what about medical benefits and if your older not young like you guys as far as living there???
Everyone that lives here needs to get medical insurance and you can choose what you want covered based on your requirements and budget. Better the budget better the healthcare
Good morning. Thank you for this video. Pls I wanted to find out how many people within the company can get the residency visa and who exactly can get the residency e.g shareholders, directors or just staff
Great information on setting up business in Dubai, it's a lot cheaper than I thought. I know if you spend no more than 6 months in the UK you can be exempt from paying tax.
do u have a biz
I have no idea why this was suggested to me, anyway, welcome to our country, you guys look amazing, let me know if you need an advice from a local!
Cheers!
Thanks Khalifa!
Great video very helpful just a question can you start a business in the UAE and still live in the Uk?
Thank you
Exceptional video guys, really solid content.
Thanks Deen glad people are finding it useful that’s what it’s all about!
good morning matt & summer
have a nice day 👍
At the end I think I like you no matter what, am subscribing too
I am looking to setup a business to and move with the family next year. There is a lot of options, freezone and visa wise.
what biz r u setting up
I live in dubai and have property there. I also have a business and have gone through exact same process you are going through now, twice. If I’ll see you I’ll say hello. See if I can help. There are some pitfalls to watch out for and I’m sure your head is spinning
is it expensive to start a business in Dubai?
I’ve saved millions living in dubai and I also own a property there. It’s cheapest way to live to get on the ladder asap. No rent and you can cash it in later.
Appreciate that feel free to send us a message on Instagram so we can talk! Links in all bios of our videos
Hey guys 😊 would be awesome if you could share me the name of the company that help you set up business.. it sounds a lot cheaper then what I was quoted.
Also maybe I can help you on crypto in return 😉
What’s the restrictions on clothing as you guys are casual and or use to be pretty strict there of what women wear etc!!!
Seems like it has loosened up for sure!!
Relaxed in most areas, no issues. Some areas are stricter but we don’t really go to those areas
Just curious to know; you can’t go and stay in the UK for more then 60 or 90 days a year after getting UAE residency?
Very good that all me gustan todos los vídeos muchas gracias che
I'm new to the channel and would love to follow you guys on your journey. Also i would like to know your business idea.
I like Dubai from Canada
I might be late but did you guys permanently move to Dubai ? ❤️
Just take the digital nomad visa, no need
to form a corporation and you can be a resident and then use tax treaties
Appreciate the suggestion, it’s not just social media we are doing here though so needed a mainland business
@@mattandsummer I understand. I was just suggesting it because if the digital nomad visa gives you (very cheaply) UAE residency then you can bill clients internationally through for example a US LLC (which is a flow through entity and cheap to set up) and therefore run businesses worldwide and pay no tax. Of course attorneys always recommend the more complicated option but it might be better for you.
I tried to google all this information on tax liability and found it in this vid. Thanks!
You’re welcome!
I have a question does you need a business visa to make a company in dubai
God bless your... Please visit my village stone head snake is there.. Love from shillong North East india
You’re doing great both 👌👏
Thanks Stephen! 🙏🏼🙌🏼
Can you share details of the visa advisor?
Thank you for sharing :)
No worries! ☺️
this was helpful
What king of tripod and mic do you use for your vlogs, thank you
Sony tripod to go with the Zv1 camera and Rode mic :)
i own 3 uk businesses but they all sell throughout england do you know if its possible do this still as we can be based in dubai but we would still need to sell throughout the uk as its ecommerce
Excellent vlog. Where are you staying guys
Thankyou & Rixos Building
Is the same tax policy for Australian passports? thx
You guys should meet up with iman gadzhi he's in Dubai as well, he does finance and business
Interesting you guys are looking into crypto. I've been investing and trading for years, one of which is involved in creating the digital pound. Best advice, don't get involved in online courses they are normally just after your money. If you ever want any free advice when you're back in the UK, let us know 👍great videos btw, keep it up
UK:
-18/28% capital gains tax on residential properties
-19/25% corporate tax
-20/40/45% income tax
-20% VAT
Dubai:
-0% capital gains tax
-0% corporate tax (for now)
-0% income tax
-5% VAT
-spend one day of the year there; keep your stays in the other country(s) to less than 90 days
-keep business income tax-free while not being a resident; only pay taxes in country of residence
-roughly 6,000 pounds initially to set up company and residency
-pay for a 3-year resident visa
-several thousand to renew business license yearly
Well, damn. Time to move to Dubai heheh!
Is there is link with more info on how to apply for the business visas for a start up ?
dm us on instagram @mattmellor and we can get our visa agent to contact you :)
@@mattandsummer thanks !
7.10 🤔is that David Beckham (back side)