DLS and Fred MIA

[manukahoney]

It was never cheap. If you need a simple offshore - there are multiple options‌ available, the only problem is they are mostly unbankable if you don't have some special‍ relationships with the bankers.
Dubai was cost efficient for mid 6 - low 7 corp⁠ revenues and you also could get a local residency, non reportable personal bank accounts (as⁤ long as you reside in UAE) and have a working USD and EUR bank accounts⁣ for accepting payments.
Simple 1-person setup costs around 5k EUR annually to maintain now, plus⁢ around 1-4k EUR to submit all the audits (heavily depends of what kind of firm︀ you chose, how many transactions you make etc). Plus you now pay corp tax on︁ whatever profit you have, so there might be a few % put aside. Is it︂ expensive? Maybe. Are there better options? Perhaps, but it works for SMB setups and I︃ haven't found something better package-wise (corp + personal residence, quality of life, safety etc).

 

[Houdini]

where does it belong to Fred and⁢ Mia ?

 

[CrazyPanda]

I don’t know Mia, but Fred has misled many people. He insisted that most business activities‌ would be outside the scope of corporate tax. It seems he deleted his original post,‍ but I managed to find a trace of it. Check below.

Claim: “You are only paying 9% Corporate⁢ Tax if you are running one of the Excluded Activities.”
Truth: You first need to︀ check whether you are conducting a qualifying activity. If you are not conducting a qualifying︁ activity, you will be subject to corporate tax regardless of whether you engage in excluded︂ activities. Qualifying activities are very limited, such as financing, shipping, IP businesses, etc. Additionally, your︃ company must be a ‘Qualifying Free Zone Person’, must earn ‘Qualifying Income’ and not engange︄ any Excluded Activities to be eligible for the 0% tax rate.

Claim: “No matter if︅ you are doing E-Commerce or Marketing Services - it’s a Qualifying Activity.”
Truth: Completely incorrect.︆ E-commerce or marketing activities are not qualifying activities under UAE corporate tax law and subject︇ to %9 corporate tax directly.

Here is another incorrect statement from DLS: "It’s important to︈ understand that the Excluded List of Activities in regards to Qualifying Income for a Qualifying︉ Freezone Person is a conclusively complete list and the Activities not mentioned thereby automatically belong︊ to the List of Qualifying Activities to remain 0% Corporate Tax as described"

This is︋ completely wrong and misleading statement. The UAE corporate tax law defines “Excluded Activities” that do︌ not qualify for the 0% corporate tax rate for Free Zone Persons. Just because an︍ activity is not on the Excluded Activities list does not make it a “Qualifying Activity”︎ eligible for the 0% tax rate...

https://dls-dubai.com/en/99-of-free...bai-remain-0-corporate-tax-why/#reading-start

I have own 2 freezone UAE companies in️ the software business since 2019, with a turnover in the 8-figure range. We worked with‌ the professional tax lawyers in Dubai to analyze the 0% free zone incentives, as our‍ business is an IP business, which is a qualifying activity. After spending about $25,000 on⁠ legal fees, we decided to pay the 9% tax due to the complexity, reporting requirements⁤ and risks associated with trying to achieve 0% tax in the UAE.

 

[Houdini]

Thank you for explaining this. Now your post make more sense.

 

[Fred]

UPDATE FOR EXISTING DLS Dubai Clients:

All exiting clients receive in the next couple of‌ days an Update E-Mail from IFZA so that you can perform again your Trade License‍ Renewal with DLS Dubai and all benefits that come along with, including a FREE Personal⁠ Consultation Session of 1 hour with Fred along with the Trade License Renewal.

Further we⁤ handle your upcoming Trade License Renewal with our PRO Service and you enjoy our Residence⁣ Visa Free for Lifetime Promotion.

@CrazyPanda
There is a reason why we paused the Business for more then 1 Year and︂ didn't onboarded more then a handful of clients after 01.06.2023.

I received 100s of E-Mails︃ from Forum Users, Existing Clients and Potential Clients seeking for clarifications, I spent way more︄ then $25,000 to get ASAP clarification, back then the reality was that even the Big︅ 4 were just Copy & Pasting from FTA Website and kept a low ball on︆ any clarification to not burn themselves like I did at the end of the day.︇ Post got deleted as it was not accurate.

I have no idea why you frame︈ it like I did had bad intentions at any point and you could find a︉ "trace" about my bad intentions. Your Argument doesn't make sense if you take into consideration︊ that my "Misleading Information" was published just to close shop 1 Month later.

No bad︋ feelings, I wish for everyone of you guys just the best.

 

[uk29]

@Fred Is the renewal still available through you? I messaged on Whatsapp and Telegram but‌ didn't receive a response?

 

[bubbledouble]

How long is it since he‌ posted this?

 

[picsous]

Didn’t hear back from him since a long time now. But just renewed with ifza‌ myself and everything worked fine

 

[Giok45]

Actually, I was contacted by Dina in June who informed me that Fred (or DLS)‌ is back in business. I got with them my renewal, so far so good. But‍ when I came to Dubai for the Visa case, I realized that it is better⁠ to contact IFZA directly and follow their instructions. Surprisingly I was informed by IFZA that⁤ DLS was not in business anymore. The disturbing thing is DLS/FRED never responds on the⁣ phones for proper information. Only by email (Dina) or text on what's up with Fred⁢ but their replies are really "reluctant" same as their services. Those guys are like "ghosts"︀ which is really disturbing. The physical address of their location as stated on their site︁ does not exist, I am not sure if it has ever existed. When I got︂ there, there was another company instead called IMEX which is probably irrelevant. So it is︃ better to be cautious with them.

 

[kislokan]

I had no contact with dls dubai after the announcement on here and with the‌ tax registration deadline approaching I simply switched providers which was incredibly easy and included accounting.‍ I am not gonna wait around for something that may or may not happen. f**k⁠ that.

 

[bubbledouble]

very good decision, to which provider did you switch⁤ ?

 

[ShillGates]

same here they are︄ a scam. Dont do business with them, seems Fred doesnt exist - and the email︅ just taken over by someone who also doesnt exist. 100% scam. once you pay ,︆ they ignore you.

 

[ImKing]

When were you contacted︄ by them, and have you looked into what IMEX does? Perhaps there’s a link to︅ Fred and Co here?

I have to say, I find their approach in this case︆ very puzzling. Jan risks ruining his solid reputation that he’s built up over many years︇ here on OffshoreCorpTalk. If he intends to return to the same line of business, he︈ ought to conduct himself with integrity, honesty, and above all, be highly responsive.

Have you︉ paid him any money, and if so, how much? And have you requested a refund?︊

Have you paid︍ him any money, and if so, how much? And have you requested a refund?

 

[ShillGates]

yes paid and no︁ refund as there is NOONE - once paid, goodbye. Scamartists

Who actually has ever met︂ Fred - seems he like John Doe, or as the case is in Dubai, Mohammed︃ Mohammed

 

[Giok45]

Perhaps IMEX inside has a sort of a link or even an office like the‌ one shown in the DLS picture, but it was closed when I got there, so‍ I cannot tell for sure. I paid DLS and they got my renewal without any⁠ problem. I was afraid of being scammed but I called IFZA and verified it. Was⁤ anybody scammed here? Or was I too lucky? I do not know. What I can⁣ tell is that I find this "ghosting" approach very unprofessional.

 

[ShillGates]

oh am sure the renewal will work because if it does not - I will‌ call in favours - but its a scam nonetheless - there is noone there at‍ DLS that would reply to anything else, "where do i send money" - any issues,⁠ you are on your own, so do yourselves a favour and go to ifza directly,⁤ why pay someone else more for less.

DLs is on the graveyard and good riddance⁣ after those corporate tax lies they kept spouting - remember its you who are in⁢ the frame , not dls when someone comes knocking.

 

[bigbite100]

@M4S wrote a comment which was deleted. Why was it deleted?

 

[M4S]

Spoke to Dina last week, jsut working through our renewals now. So far no red‌ flags, planning to meet Fred in person when he arrives back in the UAE

 

[M4S]

Updated

 

[USDT]

I recently renewed my license with their help. Everything went smoothly, and I received confirmation‌ from IFZA. Throughout the process, I had an extensive correspondence with Dina.