Why Dubai Companies are a BAD Idea?

[@eliotgoodfellow7294]

It's worse than just being 9%, it's the detail around that. The UAE have said that that above a threshold (which are very vague and at their determination), you have to pay 9% on all you take out as salary. So it's a disguised personal tax too. This, despite a previous commitment to be zero Corp tax for 50, years, which they've reneged on. So what else will they change. HK far better. Zero tax. Many dropping their UAE Cos for the reasons above.

[@ywueeee]

what are the better options now? for cheap setups to pay yourself a salary?

[@relaxandlivelife7093]

Very straightforward advice and very honest

[@nat6106]

All good points. Can you make one on using US LLCs as a way to get personal tax residency in the UAE through the freelance visa? That seems the best of both worlds

[@ArijanRace]

Very informative insight as always.

[@OffshoreCitizen]

Glad it was helpful! Anything you'd like to see next?

[@Frankabagnale33]

@@OffshoreCitizencould you do a deep dive on offshore banking for trading companies (physical commodities trading) comparing UAE, Cayman Islands, BVI, etc and the banking they can get along with any funding requirements in each case. That’d be very interesting and helpful

[@StevenYevski]

So if the company that will be in UAE is holding company, that’s would work to minimize the taxation? And if I don’t do the bus activities in UAE yet, would it effect the taxation? I will just register the company in free zone and will pay zero taxes! Correct me if I am wrong.

[@patienceisalpha]

Good video. Could the tax treaty network also play some part in the decision tree?

[@tyjay6885]

no UAE for me. Cant bear bureaucracies!

[@hichamez6811]

i am 100% that you’ve never experienced anything related to uae government.. My company was formed in 3 days my emirates id was issued and shipped to my hotel within 1 hour, after i went to their happiness center to give my fingerprints which took 5min. my bank account was created within 1 hour via the bank app, the card and cheque was shipped to me next day without me going to the bank’s branch at all, they came to give me my docs, cards, cheque book, and took only my signature.

[@tuomaskiv]

100% correct!

[@omarelmohri]

I’d consider it only to get a UAE residency, even than you will be better running an LLC maybe for most cases

[@fernandoraymond]

Good you got some people thinking about the setting up there.

[@deserialized]

What if I get the 10 year visa through buying a property. Plan to be there 1 month a year. Then start a company. Can I take avantage and pay less for running the company?

[@shabarishbalaji1881]

If UAE is not good, then which one would you recommend for someone based in India to incorporate a company? Singapore? USA?

[@OffshoreCitizen]

Depends on all the circumstances surrounding your business. Best is to reach out and we can work out the optimal strategy for you

[@robertnicholson1409]

What about nominee director, nominee shareholder services. That should overcome lack of residency.

[@OffshoreCitizen]

Nominees have no bearing on residency

[@robertnicholson1409]

@@OffshoreCitizen well of course, the point is one can have a company there and not be living there by using nominee.

[@nineseven420empire3]

I grew up in Vegas. Why the F would I want to go to an even hotter wasteland?

[@tariqramadan1521]

Word

[@afymehmood5722]

Hello there I am a British owned business looking to remain in the UK and register as uae business, how difficult is it to get residency? Would I need residency?

[@OffshoreCitizen]

You get residency by forming a UAE company, it's a pretty straightforward process and something we assist many of our clients with. Feel free to reach out for more details

[@mkishon]

You don't have to be a resident to have a personal account in AED. NBD opened an account for me with low minimum balance. ADCB was willing too, but much higher balance. It does require being very prepared before your visit but possible.

[@HB91LDN]

He’s talking about a BUSINESS account

[@z906090]

How you pay 5% in Malta?

[@jesselivermore9285]

So essentially the UAE is not a good place to incorporate unless you already live there or want to use the company as a way to obtain a residence visa.

[@kirill4531]

I didn't catch. So if you're not a resident you'll pay 9% tax and if you are you don't?

[@Th3SilentObserver]

Pretty amazed you can be this open about those disadvantages. Let me add, as a tech entrepreneur its hard to relocate an entire highly skilled developer team to UAE (talking AI experts), because of the perceived image of UAE, as those highly skilled people happen to be extremely freedom loving individuals wishing to exercise their citizen and democratic rights. Again this is no criticism of UAE, just noting a (pure) competitive disadvantage from a business perspective. Is it okay to say this?

[@deserialized]

Why would you relocated AI experts to UAE? All tech experts you can hire remote you and will cost you much less.

[@emileriksen2481]

Why would it not be okay to say this?

[@Th3SilentObserver]

@@emileriksen2481 because the line between criticizing UAE, which is not well recepted, and simply talking about business problems, is vague, fuzzy and unclear

[@Th3SilentObserver]

@@deserialized thats not how it works when you have a really big important software project - you need people in a room, at least sometimes, and the more, the better. Been in the industry 30+ years. We're not talking some hypey app stuff here

[@reaver9]

Yep, that's why they won't become tech hub - it is simply not enough to enable infrastructure, tech and creative talents have certain expectations..

[@kibwengoientombe5556]

UAE IS NOT FOREVER. ONE DAY YOU'LL LEAVE IT AND LEAVE HOME AND ALL BEHIND AS THE UAE WILL NEVER GIVE YOU A CITIZENSHIP

[@Jewzi123]

many people have lived there forever including their children .

[@William99990]

🛣 Everyone here, Hi! I can move to another country to pay less taxes, but will it increase my profit (US dollars) compared to the US if I want to do business there (to interact with local customers)? I am not in the US, I will not live there, here I want to compare it with the US. I look at it this way: $_ Annual EBT - $_ Annual Taxes (Corporation, LLC) - $___ Annual Cost of Living = Benefit I know EBT can be different, but here we are guided by how many US dollars we get by looking at for example GDP per capita Current US $, Household Disposable Income per Capita, Average Wages, GNI per capita, standard Profit data (comparing the same company to the US). Here by EBT we do not mean real earnings in US dollars, but how many times more or less I earn compared to the US. I was looking for an answer in your videos, but it’s not there. Could you please let me know which countries you would prioritize If you were in my place? I would really appreciate your advice.

[@lekeabiodun3252]

If one lives here but wants to avoid the really high costs of setting up a holding company there, what are your [low/no tax] options that are non-red flag

[@biiibzz001]

since a year ago the new law came out stating that if you own a business in UAE you need to come once a year not every 6 month

[@OffshoreCitizen]

Depends on the type of visa you've got

[@biiibzz001]

@@OffshoreCitizen yes i mentioned if you own a business, that means you have investor partner visa

[@charliefasurf1000]

Why do you need residency? You don’t. Also the 9% tax is on profits, but you can just pay yourself a big fat salary at 0%. Am I not seeing something?

[@WorldDiscoveryPath]

Am from UAE but am not satisfied with this

[@luciddreamer11]

Aye aye. UAE company if living there. No UAE company if not luving there.

[@jonnyboy9927]

Uploaded video at the same time as Nomad Capitalist. Conspiracy? jk

[@CosmosChill7649]

UAE is the best for tax planning and freedom from Israel run countries. Understandably some people have heart burn in digesting this fact

[@LindaKazmorck]

Top fan ❤. What's the best way to make money from crypto trading?

[@unknownquantity4440]

Dude. There's a quality of your voice's timbre that is very difficult to listen to. It's akin to a constant crackling of your voice as if you're not using enough air to fully annunciate your words, resulting in a over utilization of your vocal cords, which creating a constant din of noise akin to a low pitched crackling or gurgling at the lower frequencies you speak at, that seem to also resonate with microphone and recording equipment thereby amplifying the noise. It's about the best way I can explain it. I suggest you consult with an audio engineer to see how you can set levels and utilize filters to minimize that most distracting timbre in your voice.

[@wholebitcoiner2574]

Canadian accents are famous for that.😂

[@nonameanon9368]

He sounds like a Giant to me with a deep crackling voice!! It's not high pitch. It's not low class. It's like he talks while in pain while gargling water lol

[@relaxandlivelife7093]

Sounds fine just needs to adjust his mic closer