I Need Cheap Dubai Company, must protect money!

[daniels27]

Who owns the money? You? They may still try to take the company money.

But only 72000 EUR? Just go to the bank, get paper (or gold), did a hole‌ in a friend's garden and good. Bitcoin would be an alternative.

But a company for‍ that much money is not worth it

 

[brianK]

UK Ltd with imaginary friends appointed will do the trick, quick and nicely protected if‌ done right.

 

[bubbledouble]

What's wrong with the providers i.e. emiratessetup and Dubai provider with the AD thread ?‌

 

[daniels27]

He has 70k EUR to protect. After 10 years of‍ protection, the service beocmes obsolete.

 

[JohnnyDoe]

Buy xmr

 

[bubbledouble]

I just answering his first question in regards to Dubai.‍

Whether it’s worth it or not isn’t something I can comment on, that’s his own⁠ decision. It might also be that over the years he ends up with more money⁤ he needs to protect, in which case a Dubai setup could very well be worth⁣ it.

 

[Clank]

I don’t think a Dubai setup will give you much protection against creditors. There are‌ jurisdictions with better protection such as Nevis or Cook Islands that exactly work for these‍ cases.

For an LLC the best jurisdiction currently is Nevis for asset protection. Cook Islands⁠ is more often used for trusts.

Nevertheless with such a low amount I doubt you⁤ will have many options for brokerages. You will be able to open a Currenxie account⁣ and maybe an IBKR account.

 

[dany]

I agree with @JohnnyDoe buy crypto XMR, BTC or something and keep them on cold‌ wallet. You will be fine, no one will or can touch them.

 

[cionide]

As was mentioned here - buy crypto and put it in a cold wallet -‌ email yourself the recovery key in an encrypted file or keep a ledger device with‍ a family member or someone you trust. If you MUST keep it in fiat, you⁠ can look into an LLC somewhere that has charging order protection - like Belize, Wyoming,⁤ or I think Nevis too. This will make it very hard to touch. Belize specifically⁣ has interesting laws, making it very expensive to even *try* to recover the money due⁢ to the bond required.

https://lighthousetrust.ch/the-belize-llc-better-than-an-asset-protection-trust

 

[ecool]

don't do this please. All cold wallets tell you loud and clear, not to enter your‌ recovery keys into any computer

 

[user123434]

Regarding Dubai Company, is some way to have it but not to enter in country‌ at least once per 6 months ( ignoring golden visa)?
That is the only thing‍ which keeps me away from Dubai Company.

 

[cionide]

There's no completely *perfect*‍ place to keep any recovery key. If you use something like Protonmail, email it to⁠ yourself in a veracrypt container with a unique good password, labeled 'recipes' with a bunch⁤ of other text files containing recipes - who's gonna look?

What are the other options?⁣ On a piece of paper in a safe that a robber or police might force⁢ you to open or force open? Bury it and it turns out you didn't secure︀ it enough against condensation?

 

[John M]

And… how is he going to open a‍ bank account for it?!

 

[Nigital Domad]

I have a client in similar situation but he has 3M EUR. Any general advise‌ (beyond what already offered here?) I was thinking to advice private banking angles or similar?‍

 

[daniels27]

Similar but very different. With that amount, you actually⁠ can afford trusts etc. You can easily pay 25k for the management of a trust⁤ each year.

 

[forward]

But why not flip it to crypto, if the⁠ situation is.. bonkers ?

 

[daniels27]

@forward I proposed this in the first answer already:

 

[cryptofriendly]

It's much⁢ easier than you think. Nowadays, I store my 24 word recovery key phrase in clear︀ text on a piece of paper in three different locations, some of them pretty insecure,︁ open to see for anyone that wants to take a look.

Sounds idiotic, right?

Well, not really. Losing the full recovery phrase is of much bigger risk for me, and︂ I can't even memorize my phone number (my shirts have a longer lifespan than my︃ SIM cards), and 24 random words in the right order are pretty much impossible to︄ keep in mind for the long run (for me at least).

There is a very︅ elegant option that makes all the worries go away, takes all risks away regarding storing︆ the 24 words without other people having access to it, and you just need to︇ remember ONE word/phrase/combination chosen by yourself. It also fixes the problem someone holding a gun︈ to your head.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature

 

[cionide]

Ahh that is a︄ nice option - I didn't know about that one. Thanks!

 

[cionide]

Liechtenstein is not a signatory of the Lugano agreement,⁠ so that might be an option at that amount. Their banks are stupid expensive, and⁤ that's basically the only reason to bank there at this point. Have him run it⁣ through some EMI before transferring to the end bank account - anyone that may gain⁢ access to his banking records probably won't be able to get anything outside of their︀ own country without alot of difficulty.