How to form an Offshore Company in UAE - Dubai? (ZERO Tax Jurisdiction)

[@OffshoreCitizen]

Book a call with Michael: calendly.com/michael-rosmer?month=2021-03

[@misterpizzaman3581]

You are going to make it big: people like you and you have good content !

[@OffshoreCitizen]

Thanks!

[@bdr7576]

The hotel size bit in the beginning made me chuckle.

[@vigilante_stark]

Thanks man. You have a great and genuine way to present videos.

[@OffshoreCitizen]

That's the goal. Thank you! Are you looking to incorporate in Dubai?

[@vigilante_stark]

@@OffshoreCitizen Soon. Will contact you if I finalize my decision.

[@peterngige8905]

For me yes how can I get your contacts am currently in UAE?​@@OffshoreCitizen

[@Yaseen-boys]

Minor correction, the medical takes two days only, you go for your medical one day, you get the result the following day. Its usually blood test and an Xray.

[@venusreena2532]

But what are they focused on?

[@SGFan21]

@@venusreena2532 They want to check if you have HIV but the X-ray I don't what's that for.

[@MaxtonTechnology]

@@SGFan21X-Ray is to check for Tuberculosis.

[@peterngige8905]

Nice i love this information 😊

[@wahidachowdhury8846]

How can i do offshore investments in uae

[@scott3745]

What does that mean (1:00), "It's not so amazing if you're outside of here"??

[@dimebagg1]

Rewatched this. Amazing vid

[@OffshoreCitizen]

Thanks! Anything else you'd like to see?

[@arjunhar4866]

Please try to add whole setup cost!

[@shahzadawaseem347]

Very informative. Thank you Michael.

[@OffshoreCitizen]

You're welcome, always our pleasure! Anything else you'd like to see?

[@moonkey5080]

Great Video Thank you for sharing!

[@OffshoreCitizen]

A pleasure. In case you ever need any assistance with this, feel free to reach out

[@ViceCoin]

What are the business registration options for digital nomads, wwho are not interested in citizenship?

[@SujithKumar-wf5us]

is offshore company same as Free zone companies ? I thought its different?

[@jaleotech5918]

Dude I don't see value in every vid you do! However, I fcking love that you ship daily! It's hard to do value every day of course. But big ups for getting the posting done daily. Make ppl miss you when you don't ship! This one looks like a good one!

[@totilsom]

And costs??

[@romanle6853]

What about doing business with eu? Are there any taxes included?

[@newworldmoney8926]

Could you open up a LLC in a Dubai free zone, put my girl and our baby on the residency visa to live in Dubai and never do any business through the LLC? Our plan would be to live in Dubai 6 months out of the year. What would the fees be like to do something like this through you and your contacts? Also are Dubai banks ok with receiving wires from crypto currency exchanges if you sustain yourself through crypto? I guess another option would be to buy a home or condo for 300k usd I guess? What do you charge to discuss options I am looking at future planning but not immediate.

[@MichaelRosmer]

Yes that is possible. Please send us a message through our website to discuss specifics

[@marcoseve]

Great content ! 👏🏼👏🏼

[@OffshoreCitizen]

Thanks, glad you enjoyed it. Let us know if there’s anything else you’d like to see on this channel

[@DaGreatCatch]

about the costing

[@MrMeneya]

Hey big Boss I really appreciate if you can help me and answer my question! I am about to start a KZbin Chanel in English and Arabic so if I have my KZbin send my payments to a Dubai checking account that I will open will that help me not pay tax for that KZbin Chanel to the IRS given the fact that I am only a permanent resident in the US. Thank you so much if you can answer that question.

[@JonasThente-ji5xx]

Very helpful. I plan to escape from Sweden's tax hell. This is great knowledge.

[@OffshoreCitizen]

Happy to be of service! Feel free to reach out in case you'd need any assistance with that :)

[@jeremyleonbarlow]

I've seen a lot of reports online that banking with a flexi-desk company is nearly impossible recently. Most banks want a more substantial and permanent office space for any company that they take on for banking. Have you seen any of these problems recently?

[@MichaelRosmer]

It varies bank to bank and based on other factors but there are definitely banks that accept it.

[@chimonymarketingagency2182]

Hi, thank you for the video!

[@sudakar9207]

'Nice' hair cut! Have you considered using a razor machine?

[@VERTICALWisdom]

Excluding your structuring and consulting, what is UAE free zone company cost and banking deposit amounts? Sounds like business banking in UAE is a pain in fanny.

[@MichaelRosmer]

Well business banking in much of the world is a pain these days. Cost depends on the free zone but typically by the time you pay all the related fees around $10k or so, can be less or more but that's a rough level.

[@andreas_tech]

Hi, is it possible to form an offshore company in a tax haven (low tax country), in a cheap way (few hundred bucks), without physical presence / address? thx

[@saleemfamily-ty8jm]

Hi Could you tell me how much it casts to setup UAE company and whole process.

[@OffshoreCitizen]

Please reach out through our website and we'll be happy to provide all the details and assist through the process, if interested

[@lockerbie7724]

could you speak on cryptocurrency and the uae thanks

[@OffshoreCitizen]

Will see what we can do! Thanks for the suggestion. Stay tuned 😄

[@ywueeee]

Awesome video! Could you please re-do this video with updated information? Like the recent developments with crypto licensing, binance, bybit moving etc. Also is there a way to trade cryptos, nfts and get a bank, residence permit emirates id, use that with exchanges on the freelancer visa? The freelancing work being 'trading'? What would be the cheapest setup be? Thanks!

[@OffshoreCitizen]

That's a good idea, thank you! Are you looking into incorporating here?

[@sawkrandom23]

Can I start a Web design business in UK, then move it to the UAE?

[@smartmoon786]

Can we get Holding company licence with a free zone company formation? Subsidiary's will be in other countries.

[@OffshoreCitizen]

Please contact through our website, describing your situation a bit more detailed

[@rph9837]

Hi, i have a question.we have business in sudan(africa) We want to setup offshore company in dubai freezone to receive fund from our sudan customers and pay to our foreign supplier. Is there any documentation we should maintain to show to any authority in uae. I mean maintenance of accounts compulsory or not.

[@husseinmontaser9154]

How can i make an invoice to export materials ( back to back trading) in offshore company ,, is there software or i do formula in excel?

[@FrankWu]

The problem with UAE company structure is that is totally different to Australia and UK.

[@chimonymarketingagency2182]

you have mention that for money transaction Dubai is not the best choice. Is that correct? Does Ajman FZ has problem with money transfers and banking? Thank you for clarifying.

[@saugatadas5518]

Hello this is very helpful. I am from India and running a software company. Is it beneficial to move to FZA in UAE ?

[@Admin-po2qp]

Thanks for Watching and commenting.. For More Crypto Knowledge and Profit making. D•M +• 1• 9• 3• 7• 7• 0• 6• 0• 2• 3• 7••

[@davelawson2564]

yes if you can pay the annual costs

[@Carey1135]

@@davelawson2564 what are the annual cost for maintaining a company on average?

[@davelawson2564]

@@Carey1135 $25k plus

[@Carey1135]

@@davelawson2564 25 k for annual cost ?? Damn ....

[@DaGreatCatch]

Would you do a video about costings

[@OffshoreCitizen]

It all depends on the structure you go for, but we'll see what we can do👍 Are you interested in opening one?

[@DaGreatCatch]

@@OffshoreCitizen yes

[@manishmendon5068]

What's the maximum shareholders allowed when registering a corporation in Dubai?

[@monkeytime8653]

can you change a business from america to dubia

[@OffshoreCitizen]

In theory it is possible but usually it wouldn't make sense to do it that way

[@monkeytime8653]

@@OffshoreCitizen what needs to be done

[@firozshah5928]

How much consultancy Business will cost ??

[@OffshoreCitizen]

Feel free to reach out and we'll be happy to share all the details

[@firozshah5928]

@@OffshoreCitizen Whats is your Charges ?

[@vie51]

Great video Thank you! Is there any limit for opening company in UAE? For example, Any limit for company that deals with pork related products, lingeries, etc?

[@MichaelRosmer]

There are some limits but they are pretty broad

[@davelawson2564]

As long as you are not importing pork to dubai/UAE , you are safe

[@elsbells8545]

What about for forex traders?

[@OffshoreCitizen]

If you're moving there sure, best to reach out to us to discuss your specific situation though

[@ravikadel9302]

I already 02 times Arrival and Departure in UAE.

[@hosabettulaxmanbangera1471]

Thanks Indeed.

[@OffshoreCitizen]

A please. If you need help with the process, feel free to reach out

[@BallyBoy95]

Flexidesks, gonna look into that. Thanks.

[@OffshoreCitizen]

A pleasure! Feel free to reach out in case you need any assistance

[@TheXV22]

Can you give an estimate of the total cost?

[@OffshoreCitizen]

Please reach out through our website and we'll provide all the details

[@nick_g]

Great video! I have a question about Online businesses. What if I have an online business that sells subscription based information products only (no physical goods)? Is there any specific country I should look at for that model? Congrats on the subs btw, when I first found your channel you had less than 8K and now triple that :-)

[@OffshoreCitizen]

Thanks! To answer your question it depends on a bunch of things like where your customers are, where you're from, your team, etc. Best is to send us an email or book a call and we can discuss specifics.

[@dawoodwaris]

Hello Michael, I have a BVI approved fund manager license looking to register as foreign fund manager in ADGM Abu Dhabi. Is it possible for me to open a bank account under my company in UAE?

[@yasmineseba3213]

Thank you for this great video just one question please when someone opens an offshore company in Dubai can he receive the tax exemption certificate from it or not and thank you

[@johnsambucini8981]

You said they're not crypto currency friendly but Is the moon carl He has his own KZbin channel and hes living in Dubai and hes been using crypto currency ever since hes been there and he says that they're tax free so can you really explain how they're able to do this if that's the case?

[@MichaelRosmer]

I know Carl. Yes, UAE is tax free. You can buy some real estate and vehicles with crypto in Dubai. What are not friendly are the banks. If you cash out crypto into a bank account there's a decent chance they'll close your account. What Carl and some others do are 1. But things with crypto rather than fiat for example he bought his cars with ETH not fiat 2. Cash out in other countries than transfer the money to UAE

[@johnsambucini8981]

@@MichaelRosmer I have question let's say my money goes up here in usa for crypto and I don't cash it out and I want to move to Dubai would I still have pay taxes in usa? And when they say tax free do they also mean that you don't have to pay property tax?

[@MichaelRosmer]

@@johnsambucini8981 if you're a US citizen you're taxable no matter where in the world you live. If you aren't then probably not or at least if you ceasing being a US person you won't be minus possible exit tax implications

[@arthurkane1452]

Any suggestions on where to incorporate to reduce the youtube new tax withholding if I'm in a non treaty country with US (still territorial taxation).

[@MichaelRosmer]

Well you can't necessarily just register a company wherever and avoid withholding. It depends on anti treaty shopping rules etc. This being said there are some good tax treaties with the US that you can take advantage of if applicable.

[@arthurkane1452]

@@MichaelRosmer I see, but those solutions will involve moving to another country? Usually, how much % of tax is paid like this?

[@MichaelRosmer]

@@arthurkane1452 totally depends. You don't necessarily have to move it depends on the country, on the tax treaty, on the substance, management and control etc. As for tax savings that also depends. The best is probably to book a call and we can discuss it and go over the best solution for you. calendly.com/michael-rosmer/offshore-citizen-30-min?back=1&month=2021-03

[@reikihealingdistance7071]

can we use peronsal bank account in free zone company instead of applying for business bank?

[@OffshoreCitizen]

Depends for what

[@SatishKumar-kg6jx]

I am a doctor and want to setup diagnostic center in Dubai. Can you help?

[@OffshoreCitizen]

Probably please send us a message through www.offshorecitizen.net

[@Mo-ct7oo]

Michel, Thanks for this nice content as always, can you give more information about the banking you mentioned that if you do not live in Dubai or you do not have residency you will not be able to have access for the local banking, so if opening a company there which banking a person can use for that company?? Thanks

[@MichaelRosmer]

Well ideally you use local banking but otherwise we usually use banks in Europe

[@Mo-ct7oo]

@@MichaelRosmer Thanks a lot Michael for your fast reply, but can you make one thing clear for me if you will use banks in Europe and all your transfer will be out from those banks what is the real benefit of registered a company in Dubai ?? because you will be obligated to pay taxes in Europe anyway, or am I missing something??

[@MichaelRosmer]

@@Mo-ct7oo taxes in almost all cases have nothing to do with where your bank accounts are located. The only reason we use accounts in UAE is because of stability

[@Mo-ct7oo]

@@MichaelRosmer Thanks a lot again for your reply :) yeah, I understand what you mean, but as you know the banking issues always the most difficult part, I am trying to open a bank account for my own company in the Netherland and I am still facing problems with that even I have Dutch nationality so I am not even a foreigner and the banks still give me a lot of headaches and a lot of forms to fill for money laundry issues, so I can not imagine how it will be to have a company in a place like Dubai which has not the perfect reputation when it comes to money laundering and has the bank account in Europe, so I just do not see how this is a feasible option.

[@MichaelRosmer]

@@Mo-ct7oo yeah it's terrible banks no longer facilitate business they impede it, makes you want to just transact all in crypto

[@citrineinvestorsgroup5782]

What's the cost of setting a up freezone company?

[@OffshoreCitizen]

You can send a message through one of our websites and we'll give you a quote, based on the details of your situation

[@ameenasif]

I would like to go ahead with this setup , I tried several companies that do formation but they are either very slow, or just care about they cut in the process and have no expertise in tax or legal advice for best option

[@OffshoreCitizen]

Feel free to send us a message offshorecitizen.net/ We'll be happy to assist

[@andrew-isac]

i m not sure i understacorrect ( does this zero tax include renouncing the US citizenship! ) or how it works ? since supposedly U d still have report tax back to US for off shore business i believe since they track that! supposedly for all countries if i understand correct! , looking forward for your insights , thankj you

[@OffshoreCitizen]

The US always taxes you on your worldwide income based on your citizenship so Americans need to renounce to gain most of the benefits. People from other countries are good

[@andrew-isac]

Offshore Citizen aha ya thanks u for insights , the question was coming from a US backgrounds mainly ,ya

[@sshetty9683]

No details of costs involved ans comparision with other zero tax jurisdictions or territorial tax countries.

[@MichaelRosmer]

Costs vary by free zone and what all costs you include. This being said UAE is more expensive than most jurisdictions, a typical package will cost around $9k on the lower end. It can cost less but can also cost a bunch more. Compared to other jurisdictions this is expensive but then again it's also much more simple to set up and maintain on a zero tax basis.

[@bobo-uv9ls]

@@MichaelRosmer ive seen a place called DLS Dubai being advertised a lot. 7k euros for set up and 4k euros for yearly fees? It sounds like there are yearly maintenance costs, how much does this cost typically for a person who obviously is cost conscious?

[@OffshoreCitizen]

Yeah that's about what you should expect. You can save money by paying 3 years in advance

[@sshetty9683]

@@OffshoreCitizen i also heard that some of sites advertising are fake. Is it true?

[@davelawson2564]

@@sshetty9683 its vague question

[@TruthBeliever]

what banks you recommend for crypto?

[@MichaelRosmer]

Good question depends where in the world. If you can get it Silvergate it's good

[@TruthBeliever]

@@MichaelRosmer thank you

[@muhammadm4582]

Total cost?

[@MichaelRosmer]

Totally depends on what all you're including, the area, etc. but usually around $10k all inclusive, could be a bit less, could be slightly more depending on visas, bank accounts, company activity, etc.

[@TinaUdensi]

Good morning. Pls I have an online business and thinking of registering in Dubai. I would like to find out how many people within the company can get the residency visa and what their position within the company needs to be. Thank you

[@OffshoreCitizen]

Hi Tina, Please send a message through our website about the details of your situation and plan and we'll be happy to assist

[@thecontainerthecontents6889]

do you need a residential lease in UAE to show a bank to open a corporate bank account for a UAE company? i keep hearing different opinions on this.

[@OffshoreCitizen]

No not necessarily but for some banks yes

[@firozshah5928]

Weekesh ??????? 9:9 timing

[@OffshoreCitizen]

?

[@888easyk]

Hello I have been watching some of your videos a while and I would like to know if I’m going to trade stocks or Forex in UAE as individual will the freezone be suitable for me? Let me know please thanks

[@OffshoreCitizen]

It should be but the best is to send us a message through www.offshorecitizen.net and we can go over your specific details

[@hellophoenix]

I’m a GCC citizen and allowed to live in the UAE but I can’t find anything as far as “ permanent residency “ for GCC citizens.

[@MichaelRosmer]

As far as I know they basically still don't really have permanent residency in UAE just long term renewable

[@DestroyerOfLiberals]

Sounds like a pain in the ass, so much for the famous Dubai. I can do this in UK in like an hour.

[@bbrebozo6417]

I heard that Dubai can give 10 year visas to people with a Ph.D. in useful fields. Is there a way to tie that to a consulting company, and does a company need to make a minimum amount of money.

[@Admin-po2qp]

Thanks for Watching and commenting.. For More Crypto Knowledge and Profit making. D•M +• 1• 9• 3• 7• 7• 0• 6• 0• 2• 3• 7••

[@GOATLAVISH777]

If I do Day Trading Forex for a living how can I make that into a business to move over?

[@OffshoreCitizen]

Best to contact us to discuss this

[@thecontainerthecontents6889]

Hi Michael, could you do a video breaking down the myriad zones you have to select between from which to form a company in UAE? Does selecting certain zones come with consequences such as more difficulty getting a company bank account because you formed in RAK for example? Because the price to form a company in UAE varies dramatically based on the zone you select -- but for someone not actually doing business in UAE -- and using the company for international business, the zone is irrelevant. So why doesn't everyone just form in RAK? Is it because it's harder to get a bank account or...? Is a flexidesk office address enough to show a bank there to open a company account? Or do you need to show banks a lease to indicate you are living in UAE nowadays to get your company bank account realistically in 2021? I've heard the banks there are under greatest scrutiny now for compliance issues lately and so the KYC and risk aversion has gone up massively at banks there lately. Lastly, do you mean the DTA (tax treaties) between UAE and Canada would make a canadian who left canada and lived in UAE STILL income tax resident in Canada instead of UAE? I guess that would make UAE useless for a canadian even if they relocated there?

[@OffshoreCitizen]

Yes there's definitely massive cost differences as well as ongoing compliance difference between some free zones. I'll have to create a video discussing differences. As for the tax treaty it doesn't mean you're tax resident it means you don't get treaty protection.

[@thecontainerthecontents6889]

@@OffshoreCitizen ok so as long as you don't live in canada nor receive any money from canada nor from business in canada... (basically have nothing whatsoever to do with canada anymore) UAE could work for a canadian living overseas right?

[@MichaelRosmer]

@@thecontainerthecontents6889 correct

[@thecontainerthecontents6889]

@@KnightlyHouse whys that? How would the zone exist if no one can get banks. Sounds like nonsense to me.

[@MichaelRosmer]

@@KnightlyHouse nonsense I just did a video on this the other day RAK companies are no different than others. We've done plenty of accounts for those companies lately.

[@hopingforaces]

Is it fair to say that getting residency and banking setup in Dubai, is lower cost and easier than doing the same in Singapore?

[@MichaelRosmer]

No, they are similar

[@hopingforaces]

@@MichaelRosmer I thought for Dubai residency could just require setting up a company for around $15,000. Whereas Singapore, excluding a million plus investment, the only way to get residency without being an employee is the EntrePass ( difficult to get)

[@OffshoreCitizen]

Ah sorry yes for the residency it's much harder in Singapore, was thinking about the company formation costs

[@mqaum1844]

hello can I have a offshore company in dubai and other countries whilst I live in the uk

[@OffshoreCitizen]

Ok, good chance you're probably taxable then unless the substance matches

[@mqaum1844]

@@OffshoreCitizen what do you mean by substance matches.

[@KushanVora]

Where can I connect with you?

[@OffshoreCitizen]

Check out our websites www.offshorecapitalist.com or www.offshorecitizen.net you can send us a, message through either of those.

[@robertroose3230]

I read somewhere that if you live in UAE then you can't open a Wise account. Is that true?

[@MichaelRosmer]

They don't support UAE right now no

[@crossroads670]

UAE is starting to open up to Fintechs. I know Stripe has a private Pilot program in the UAE so this is good news for the future.

[@MichaelRosmer]

@@crossroads670 yeah 100%

[@adjutantgamer2584]

hey i have an e commerce brand which work world wide and it has grown big that i need to pay taxes now a big amount 30 % of profit so i am thinking of registering my company in dubai so my query is that can i own 100 % of my company i sell world wide with the currency being dollar and i dont wanna pay tax so will i pay 0 tax in dubai pls reply

[@freshlime7538]

have u find a solution?

[@nazahmed7929]

Hello Michael, Can you please advise how I can get in contact with you? I would appreciate your prompt response.

[@OffshoreCitizen]

You can send us a message through our websites, links are in the description

[@blackpinkunniexl]

if you want to live and work with your partner in dubai and you are not married, is it possible to start a company there? the law is strict for unmarried couples due to the family law

[@MichaelRosmer]

Yes that's fine. And they abolished restrictions on unmarried couples living together

[@billmane226]

Do you mean I cant have local banking if I set up offshore uae company ?

[@MichaelRosmer]

No, where did you get that idea?

[@billmane226]

@@MichaelRosmer I am just thinking if offshore uae company can get a local banking then what is the point to set up a company in tax free region?

[@MichaelRosmer]

@@billmane226 banking has nothing to do with taxes in almost all cases. Also forming a company in a zero tax country doesn't mean you'll pay zero tax. You need to view each of those things separately.

[@Yameen200]

@@MichaelRosmer Whats the point in forming a company in a zero tax country if you still have to pay tax to your country or to the tax haven country. Seems counter productive.

[@MichaelRosmer]

@@Yameen200 you might not pay taxes it really depends. Tax planning is complex if it was so easy as forming a company in a zero-tax country and paying no tax everyone would do it and the tax departments would be out of business. This is why I've got this channel to go over the intricacies and nuances of how it works country by country. Structured properly it's entirely possible you could potentially pay zero tax at the corporate level, sometimes even at the personal level, though that is much more complicated but proper structuring is hyper important.

[@thameralmadani6448]

Where would be a good option for one who wants to open up a company and its business is related to crypto currency?

[@OffshoreCitizen]

There's no one size fits all. The optimal solution will vary depending on the details of your specific situation. It's probably best to reach out and we can work a strategy for you

[@michaelgreen8525]

How hard is it to open a corp bank account? Do any banks do remote opening?

[@MichaelRosmer]

No remote opening. It's definitely a slow process and hit and miss.

[@michaelgreen8525]

@@MichaelRosmer Thanks Michael as I could not find one and was wasting time running around like a headless chicken.

[@misterpizzaman3581]

Nice. !

[@Transatlas]

"How to form an offshore company", then proceed to talk only about non offshore companies. I don't get it

[@Transatlas]

Also most important question: do you pay a tax in your residency country if your offshore company in Dubai is having revenues

[@haithamyoussef2292]

Hi! We are start up … I am interested in opening offshore company in uae .. I just want tax I’d numb so I can able online payment on our website. Please inform if you can help

[@haithamyoussef2292]

I need Business license

[@OffshoreCitizen]

Hi Haitham, we do assist our clients set up companies in Dubai, as well as obtain residency. It's probably best to send a message through our website offshorecitizen.net/ and explain your situation, plans, ang goals. We'll share all the needed information with you

[@AK-xm5dm]

Great video! I might use your service. Please make a video more about crypto trading licence, business account and opening business bank account in UAE. Planning to relocate.

[@OffshoreCitizen]

Great suggestion, thanks! When will you relocate? Feel free to reach out, looking forward to connecting with you☺

[@precisionrelaxation5080]

Beneficial Information..!

[@OffshoreCitizen]

Always happy to be of service☺ Are you interested in opening a company in Dubai?

[@precisionrelaxation5080]

@@OffshoreCitizen Yes

[@athiralbaaj2526]

hi, I am An American Citizen who speaks English / Arabic and I would love to live in UAE and I got a couple grand do you think its possible ?

[@investIQEnglish]

Great video! Wanted to know how many days a year does one need to be in UAE in order to setup and maintain a Freezone company and what is the costs involved?

[@OffshoreCitizen]

Hi Dylan, best to reach out with your details and we'll be happy to respond to all your questions and assist with implementation

[@Jdjsisjuu]

so many questions

[@twanawebtech]

With free zone company, what is the personal and corporation taxes for all profits in the company year to year?

[@MichaelRosmer]

UAE is a pure zero tax jurisdiction. But that doesn't mean you're not taxable if you don't live there. Your country of residence matters a lot

[@dr.winner2516]

@@MichaelRosmer Not zero tax for oil or banking sector companies and not for GCC citizens though

[@MichaelRosmer]

@@dr.winner2516 oil companies and foreign banks yes. GCC citizens don't pay tax but cab be subject to social contributions on salaries.

[@dr.winner2516]

@@MichaelRosmer In my opinion social contributions do count as a tax

[@MichaelRosmer]

@@dr.winner2516 fair enough but they are only on salaries

[@jaleotech5918]

They will give you lots of credit and if you don't pay you can't leave until you do pay. You also can be sent to jail until your debts are settled. There are probably still Brits in jail there from the last frenzy

[@crossroads670]

Why would any reasonable entrepreneur be racking up debt and expecting to not pay it back?

[@alexandbeth1364]

I am very interested .can someone assist me please and thank you

[@OffshoreCitizen]

Of course, can you please send us a message through www.offshorecitizen.net?

[@priyanshsagar2645]

Hey Micheal! huge fan:) Would you recommend getting an NFT market place activity license in Mainland Dubai? or any specific freezones? also Banking for crypto is still really hard here which foreign banks would you recommend?

[@ranevc]

2022: why are your websites not working?

[@BeaconUAE]

Dubai is NOT an offshore location! Offshore companies can't open a bank account.

[@OffshoreCitizen]

Anything is offshore to a place that it's not based in

[@smm24hpanel9]

💙💙

[@stevenlong2111]

If the rich aren't paying tax like the rest of us how do governments pay for education, health care, social care road repairs, the police, army etc. All the worlds problems would be over if the greedy rich paid fair tax, 32 Trillion sat in offshore accounts while millions die due to poverty. A billionaire is a sign of a failed society.excessive greed is evil.

[@OffshoreCitizen]

This narrative is based on a complete misunderstanding of how the system and incentives work, how is it that Singapore is better than places like the US in pretty much every measure and yet taxes are MUCH lower. Review these arguments on the subject kzbin.info/www/bejne/g2XEdpaZfcucpJo kzbin.info/www/bejne/pH6oiK2pjpyKkKs

[@stevenlong2111]

You lot need to watch Gary economics on you tube you might learn some empathy and kindness

[@OffshoreCitizen]

What makes you think I don't have far more empathy and kindness than he does?

[@robertnicholson1409]

It's a Muslim Country and what about rule of law ? I'd be more than just a bit concerned about these two things.

[@OffshoreCitizen]

Visit you'll discover it's actually very good

[@robertnicholson1409]

@@OffshoreCitizen that's not an answer.

[@OffshoreCitizen]

Islam affects you about as much in Dubai as Christianity does in the southern US Rule of law is generally actually quite good, better than most other parts of the world

[@robertnicholson1409]

@@OffshoreCitizen comparing the US with this place is ridiculous and they don't have rule of law, that's an Anglo-Saxon thing. Just because it looks good ? Don't be fooled one day when it suits them the Mohammeds will take it off you.

[@OffshoreCitizen]

How much time have you spent there?

[@heather-vs9qe]

You talk far to fast slow down..at times

[@OffshoreCitizen]

You can slow down the KZbin video in the settings if that helps

[@salimahassan9219]

Seems to me like you have some negative feelings about Dubai,you have just told us that Dubai people are lying that the building you are in is the tallest hotel in the world,if you hate Dubai that much why don't you go somewhere else? Were you forced to come there? You actually want to make money by doing business in Dubai but you can't hide your resentment, God have mercy on you.

[@OffshoreCitizen]

What are you talking about? lol

[@salimahassan9219]

UAE are crypto currency friendly, check out for crypto currency information by wealthy expat on you tube please. Please tell the viewers the right information.

[@OffshoreCitizen]

Banks are absolutely NOT crypto friendly, you can try yourself and see how that goes