Why Dubai Companies are a BAD Idea?

Рет қаралды 8,162

Күн бұрын

When you SHOULD'T consider Dubai for company formation?
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UAE, and in particular Dubai is one of the most popular places in the world for company formation. In lots of the cases it makes the perfect sense to incorporate in the UAE, but sometimes... it simply doesn't and it is better to look for alternatives.
When does it make no sense to form a UAE company? Why? What are the better options to incorporating in the UAE?
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Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
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Пікірлер: 44

@eliotgoodfellow7294 8 күн бұрын

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.

@kayn6858 9 күн бұрын

Its not 6 months anymore, its minimum 3 months to maintain tax residency

@ArijanRace 10 күн бұрын

Very informative insight as always.

@OffshoreCitizen 9 күн бұрын

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

@fernandoraymond 10 күн бұрын

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

@nat6106 8 күн бұрын

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

@tyjay6885 10 күн бұрын

no UAE for me. Cant bear bureaucracies!

@hichamez6811 10 күн бұрын

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.

@patienceisalpha 10 күн бұрын

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

@tuomaskiv 10 күн бұрын

100% correct!

@omarelmohri 9 күн бұрын

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

@nineseven420empire3 10 күн бұрын

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

@jesselivermore9285 10 күн бұрын

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.

@robertnicholson1409 8 күн бұрын

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

@OffshoreCitizen 6 күн бұрын

Nominees have no bearing on residency

@robertnicholson1409 6 күн бұрын

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

@mkishon 10 күн бұрын

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.

@BoxingPrinceTV 10 күн бұрын

He’s talking about a BUSINESS account

@deserialized 8 күн бұрын

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?

@kirill4531 9 күн бұрын

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

@z906090 5 күн бұрын

How you pay 5% in Malta?

@afymehmood5722 6 күн бұрын

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 6 күн бұрын

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

@kibwengoientombe5556 10 күн бұрын

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 6 күн бұрын

many people have lived there forever including their children .

@biiibzz001 7 күн бұрын

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 6 күн бұрын

Depends on the type of visa you've got

@biiibzz001 5 күн бұрын

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

@WorldDiscoveryPath 8 күн бұрын

Am from UAE but am not satisfied with this

@jonnyboy9927 10 күн бұрын

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

@luciddreamer11 10 күн бұрын

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

@Th3SilentObserver 9 күн бұрын

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 8 күн бұрын

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

@emileriksen2481 8 күн бұрын

Why would it not be okay to say this?

@Th3SilentObserver 8 күн бұрын

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

@Th3SilentObserver 8 күн бұрын

@@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 3 күн бұрын

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..

@LindaKazmorck 10 күн бұрын

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

@CosmosChill7649 10 күн бұрын

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

@unknownquantity4440 10 күн бұрын

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 9 күн бұрын

Canadian accents are famous for that.😂

@nonameanon9368 8 күн бұрын

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

@JohnHarthomstowCEO 2 күн бұрын

His voice is fine. Are you American? No disrespect, but it always seems to be Americans that seem to want others to change their accents / voice to suit them. Yet most other countries are happy to adapt to others and tolerate differences in how people express themselves.