Opening Dubai Office
Discussion
Can anyone help with opening a Dubai office.
I run a car sales business and have been approached to do some marketing and consultancy work for a couple of dealers out in the UAE following a few industry events. It's a staggering sum I can't afford to turn down and I'm ready to get to it.
I can see this running quite easily alongside what I currently do.
I was thinking if I open it as a global company and base it in the freezones then I can let the money build up in the company account that would be in Dubai as I don't actually need the income and if it gains traction or works invest into a property there.
If I send the money back to the UK I assume I would get hit with a tax bill but if it stays out of the UK then I'm clear?
I run a car sales business and have been approached to do some marketing and consultancy work for a couple of dealers out in the UAE following a few industry events. It's a staggering sum I can't afford to turn down and I'm ready to get to it.
I can see this running quite easily alongside what I currently do.
I was thinking if I open it as a global company and base it in the freezones then I can let the money build up in the company account that would be in Dubai as I don't actually need the income and if it gains traction or works invest into a property there.
If I send the money back to the UK I assume I would get hit with a tax bill but if it stays out of the UK then I'm clear?
May be useful info:
https://www.investindubai.gov.ae/en/business-setup
Will you remain UK tax resident?
https://www.investindubai.gov.ae/en/business-setup
Will you remain UK tax resident?
JimmyConwayNW said:
I would remain UK tax resident, higher rate tax payer via current company with house here. No current relocation plans.
The freezone companies sound best, but unsure what costs to expect.
In the linkThe freezone companies sound best, but unsure what costs to expect.
https://www.investindubai.gov.ae/en/business-setup...
It will cost about 10k to set up and about 10k per year ongoing in accountancy and compliance etc. gbp
It's all simpler if you have an Emirates visa which requires visiting every six months to remain valid.
Currently there is 0% corp tax up to a turnover of 3m Dirhams (about 600k gbp) for the next 3 fiscal years (inc 2024) and I believe the rules have changed so you wouldn't need a FZ company specifically. (9% for companies turning over greater than 3m)
There's no issue at all in parking the money over here indefinitely; you just have to think about how to get it back home at a time of your choosing.
You could maybe move excess profits to the UAE from your UK business too if you didn't need the money anytime soon and the UAE business wasn't gonna turn over more than the threshold; can always move it back.
It's all simpler if you have an Emirates visa which requires visiting every six months to remain valid.
Currently there is 0% corp tax up to a turnover of 3m Dirhams (about 600k gbp) for the next 3 fiscal years (inc 2024) and I believe the rules have changed so you wouldn't need a FZ company specifically. (9% for companies turning over greater than 3m)
There's no issue at all in parking the money over here indefinitely; you just have to think about how to get it back home at a time of your choosing.
You could maybe move excess profits to the UAE from your UK business too if you didn't need the money anytime soon and the UAE business wasn't gonna turn over more than the threshold; can always move it back.
You can't trade on the mainland with a freezone company (apart from for a few permitted business types).
If you're consulting, take a look at the freelance visa as it might be an easier option compared to a company. Corporate tax, VAT and the paperwork burden of a company is a bit of a pain in the UAE.
If you're consulting, take a look at the freelance visa as it might be an easier option compared to a company. Corporate tax, VAT and the paperwork burden of a company is a bit of a pain in the UAE.
ecs said:
You can't trade on the mainland with a freezone company (apart from for a few permitted business types).
Marketing and consultancy being amongst them. OP. PM me, I have the ideal person in mind for you to talk to. Knows your industry inside out, is well connected locally, has UK/UAE offices.
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