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Note: The insights in today’s article were inspired by and partially quoted from a recent video on the Nomad Capitalist YouTube channel featuring Andrew Henderson. This provides context for the observations and perspectives shared throughout.
For years, Dubai was marketed as the global playground of zero tax, instant banking, easy incorporation, and plug‑and‑play residency.
But that era is over.
And if you’re an online entrepreneur, coach, consultant, SaaS founder, or global operator still considering the UAE as your primary structure, you need to pause — and question everything.
This article draws from a recent interview by Andrew Henderson on the Nomad Capitalist YouTube channel, where he publicly states:
The UAE is no longer a tax‑free paradise for entrepreneurs.
What makes this significant is not the statement itself — it’s the timing.
The world has changed. Tax systems have changed. Compliance standards have changed. Banking expectations have changed.
But the marketing around Dubai has not kept up.
1. The Mirage of 0% Tax Has Faded
For nearly a decade, Dubai’s pitch was simple: set up a free‑zone company and enjoy 0% corporate taxes.
That pitch is now outdated.
Henderson puts it bluntly:
0% tax is over. 9% tax is in.
This is no longer rumor, no longer optional, and no longer avoidable for active businesses.
You will pay 9% if your business actually operates, generates revenue, and has substance.
And ironically, the more successful you are, the more this applies.
This doesn’t make the UAE “bad.” But it does mean it’s no longer the universal solution it once appeared to be.
2. Banks in the UAE Don’t Understand Global Entrepreneurs
This is where the real trouble begins.
The UAE has world‑class government services. But UAE banking is another story.
Henderson explains:
The banks never entirely understood people who don’t live in Dubai… if you don’t live in Dubai what do you mean you don’t live in Dubai?
Let that sink in.
If you don’t live there, UAE banks often:
Don’t understand your lifestyle
Don’t understand remote work
Don’t understand distributed teams
Don’t understand global management
Don’t understand why your company exists in the UAE if you don’t
This leads to:
Delayed onboarding
Demands for physical presence
Requests for residency visas
Threats of account closure
Endless compliance loops
UAE banking assumes local presence.
If you live globally, travel often, or run a borderless business — the UAE simply isn’t built around your reality.
3. The False Promise of “Just Get a Visa and You’re Good”
For years, formation agents sold the same one‑liner:
“Get the company → get the visa → get the bank account → done.”
But reality is different.
The old residency visa tied to a company required you to enter the UAE every 180 days. On paper, that seems fine. But:
Global entrepreneurs travel
Plans change
Obligations overlap
Suddenly you find yourself flying “just to keep the visa alive.”
Henderson described the burden as it accumulated:
Let me tell you from experience… that adds up.
Today, there are golden visa options. But they require:
Capital locked in banks
Real estate exposure
Physical presence requirements
The UAE is no longer “just open a company and forget about it.”
4. Compliance Is Rising — and Costs Are Rising With It
Offshore jurisdictions always carry premium fees.
But the UAE has become more expensive without offering additional benefits for remote entrepreneurs.
Henderson’s example:
I canceled a power of attorney over a five‑minute Zoom call and it cost 800 bucks.
Multiply this across filings, renewals, attestations, bank compliance, and mandatory reporting.
Cost creep is real.
5. The UAE Ecosystem Isn’t Built for Remote, Online, Global Operations
Here’s the part not many people talk about.
A modern online entrepreneur needs:
Global merchant accounts
Easy multi‑currency banking
Fintech compatibility
PSP acceptance
Brokerage platforms
Payment gateways
Henderson explains:
You have fewer of those services in the UAE… banks in Asia are more forward‑thinking.
For remote entrepreneurs, Hong Kong or Singapore often offer:
Better global banking
Better fintech support
Better merchant processing
Better global acceptance
The UAE simply isn’t optimized for this type of business model.
6. The Only Real Strong Use‑Case Remaining for a UAE Company
Despite everything, the UAE does shine in one area:
Holding Companies
If you’re an investor holding:
Public equities
African investments
European shares
Cross‑border business interests
The UAE may still be one of the best jurisdictions because of its treaty network.
As Henderson notes:
There may not be anything better for certain holdings… depending on your assets.
But this is crucial:
A holding company ≠ an operating company.
Most online entrepreneurs are building active businesses. Those do not get the same advantage from the UAE anymore.
7. So Who Should Still Consider the UAE?
Only two groups:
1. People who choose to live in the UAE for lifestyle
If you live there and want your business physically there, then sure. Accept the 9% tax and run with it.
2. Investors needing a holding company for treaty benefits
This is where the UAE truly shines.
Everyone else?
You need to think twice.
8. The Real Question Every Entrepreneur Should Ask
Are you choosing the UAE based on:
Outdated marketing?
Influencer narratives?
What worked in 2018?
What others are doing blindly?
Or based on your actual business model, your lifestyle, and your tax residency reality?
Because as Henderson puts it:
Don’t chase what was good 5 years ago.
The world has changed. Your structure needs to change with it.
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Final Thought
The UAE is not “bad.” It’s simply no longer the automatic, default, universally correct answer.
For some, it’s still excellent. For many, it’s not.
If you’re serious about protecting your business, your privacy, your taxes, and your long‑term mobility — you need to see the UAE for what it is in 2025, not what it used to be.
And that starts by questioning the assumptions everyone else accepts without thinking.
Should you be interested, Click here to watch the Youtube Video
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