HORRIBLE Dubai Company Experience (NEVER Again!)
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The speaker shares a cautionary tale about the challenges faced by individuals seeking to lower their taxes in Dubai through residency and company setup services.
Challenges of Working with Certain Companies
- The speaker recounts recommending a company to a wealthy expat client two years ago for residency and company setup services.
- Issues arise with famous yet cheap companies in Dubai, leading to delays in processing and inefficiencies.
- Delays are experienced in obtaining necessary licenses and visas, extending the process beyond the expected timeframe.
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Delays and complications persist in the visa application process, impacting the overall efficiency of setting up a business or residency in Dubai.
Visa Processing Challenges
- Significant delays occur during visa processing, particularly around October-November.
- Appointments for medical tests take longer than usual, causing further delays in obtaining necessary documents.
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Extended timelines for essential processes like opening bank accounts contribute to prolonged stays in Dubai due to bureaucratic hurdles.
Prolonged Stay Due to Administrative Processes
- Opening bank accounts takes 2-3 weeks due to current situations involving Russia and Ukraine.
- Some clients face up to an eight-month wait for Emirates ID due to inefficiencies of certain service providers.
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Renewing licenses becomes a cumbersome process as companies demand excessive documentation and cause unnecessary delays.
License Renewal Challenges
- Renewing licenses involves extensive paperwork verification, video calls, and net worth proofs, leading to prolonged processing times.
Contractual Issues in Dubai
The speaker shares a personal experience regarding contractual penalties when canceling an apartment lease in Dubai, highlighting the importance of understanding contract terms to avoid excessive charges.
Understanding Contractual Penalties
- When canceling an apartment lease in Dubai, there is usually a small penalty involved.
- The speaker was initially asked to pay three times the penalty amount, totaling around 33,000. After legal consultation, it was clarified that only one third of the initial proposed payment was legally required.
- Companies in Dubai may appear cheap and easy to work with initially but can lead to higher costs and complications in the long run.
- Similar issues can arise when renting vehicles or equipment like cars, jet skis, or yachts where initial low costs might escalate due to damages or additional charges.
- It is advised to be cautious when engaging with service providers in Dubai, ensuring thorough research on reviews and recommendations to avoid potential scams and negative experiences.