According to Gulf News report on 24 March 2019, bilateral trade between China and the UAE has hit USD 53 billion last year. There had been a 245% increase in Chinese tourists in the 3rd quarter of 2018, a testimony to the visa liberalisation policy which was implemented in January.
With soaring demand on trade and tourism, Fidinam DMCC has launched a China Desk to address both inbound and outbound business need. The China Desk will be headed by Mr Loi Xiao, a Fidinam veteran, who has served the Lugano, Zurich, Geneva, Vaduz, Hong Kong and Ho Chi Minh City office in his 30+ years of services.
The China Desk in Dubai will primarily assist corporate and private clients on two fronts:
- Facilitating companies in Hong Kong and Mainland China to set up LLC and free zone companies in Dubai and beyond
- Maintaining such companies in good-standing with a focus on VAT compliance, a new tax regime implemented in 2018
- Advising the companies on profit repatriation to Greater China and the tax implication thereof
- Assisting companies to understand local licencing requirements, including but not limited to F&B, real estate agency, etc.
- Assisting clients on obtaining investor and employee visa status in the UAE, incl. a signature VIP service (with Audi Q7) for medical check and visa typing
- Facilitating the purchase of apartments and staff quarters through a Jebel Ali Free Zone (JAFZA) vehicle
- Introduction to premier financial institutions for asset management and booking in the UAE
- Registration of will in the DIFC Wills & Probate Registry for assets in Dubai and Ras al Khaimah
Complemented by Tagalog, Hindi, Kyrgyz, Russian, and 4 more mainstream European languages, the addition of the China desk can now bolster Fidinam’s ability to serve the emerging markets from Dubai.