Hello Kate, one question, is about an LLC in USA and a company in UAE, the question is: is it advisable to USE THE SAME COMPANY NAME for the UAE company and the LLC in the United States? for example, the name of the UAE company is XXXYYYZZZ and the name of the LLC is the same, XXXYYYZZZ. Thanks.
Hello Andres! Thanks for your query. It depends of your commercial needs, from a legal/consultant point of view there is no impact to use the same or a different name unless there is another company registered with a similar name in the region and/or a trademark registered in WIPO covering both countries ☺
Depending of the business that you setup and its area, you could have a virtual office. For another license activities, you would need an office space :)
Hi there! The total cost will depend of the license, number of shareholders, Freezone or mainland and activity. Opening a bank account does not have any cost. I hope it helps and if you need us to help you please do not hesitate to reach out to us! 😄
So theoretically there’s no issue if setting up the entity, whilst initially keeping residence in Europe/us… then Building up the profits in the uae entity, and then when ready physically moving over to the uae, declaring as uae tax resident and being able to transfer the profits to your personal bank? Do I have that correct?
Hello Joe. Your assumption it is more or less correct due to during the time you have your entity in the United Arab Emirates (UAE) and you are tax resident in a third country, you would, in some cases (as it depends of the tax regulations of each country) have to pay taxes for those profits (if any) during that period of time. Secondly, once you are in UAE (and tax resident here), you can transfer all the profits to your personal account. Let me know if you require assitance to do your taxation move-in in Dubai along with your setup!
Hi there! There would be some clarification of why you want to setup a freezone company instead of a DED (Dubai Economy Department) license. Airbnb business - short term rental are categorised as "Vacation Homes Rental" and this license is only provided by DED to conduct the activity compliant. Furthermore, you will need an approval from DTCM (Dubai Tourism) to proceed further. All the above, it is in case you will manage properties for clients, if you will manage your own properties, there is not need to setup the license but there is a limitation of a maximum number of properties!
@connectgroupuae whats the max number of properties? Are LLC available in dubai? Do you know if the properties need to be free and clear or they can have mortgages?
Hi again! So replying to your questions: 1) If you own the properties, the maximum amount is 8 (to operate without a license but still you need to register in DTCM. 2) Limited Liability Companies (LLC) are availables in Dubai, correct! ✅. 3) And for your last question, properties can be mortgage! ☺️ I hope this helps!
Hello! :). Yes, you can be a partner of a company and hold a visa via another company. However, you may require a NOC to become a partner of X company from your current employer. If you need any suppor please let us know! :)
If the person is already present in Dubai on Golden Visa, does he still need an Establishment Card when setting up an LLC ? Without a visa on LLC, can he get a bank account opened ?
Hello! If a person being the shareholder of the company holds a golden visa, the person will not need an establishment card to stablish the company unless the company needs to hire employees. And yes, the shareholder can get the company bank account opened! :). However, to register Etisalat, Dewa, office space (Ejari) you will require the Establishment card. Hope it helps and if you need anything from our side please let us know
@@connectgroupuaeif he’s 100% shareholder and doesn’t need any employees, will he be considered an employee if he’s stated as General Manager? Very confusing 🫤
@@connectgroupuaein that case what will it state as “manager” ? Since you need an authorized signatory to open the account. Meaning do you need the establishment card in order to be named manager on the trade license?
Haha! 😆. This is a fee that is mandatory to pay (as it appears in the payment voucher for the license). They check the total ejari amount and charge 5% of it into your license renewal!
Hypothetically if i wanted to set up my business before i come to the UAE and say its a home office. How does that work when i still havent even been in the country to rent something?
