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Offshore Company to Hide my Identity, Dubai?

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Thanks.

I only receive payments with cards/ paypal etc. No bank transfer. I don't︆ do B2B and I have relationships with payment processors for accepting payments (They said Dubai︇ company would be good for them). Customers are worldwide, but the biggest part is EU︈ + US + UK + Australia + Canada.

I only need a bank account to︉ settle the card/ paypal payments and also use this bank account to pay my business︊ expenses and have my own credit card to pay business expenses. Currently, I mainly use︋ Wise for day-to-day business expenses as it is easy to send money internationally (so it︌ would be a plus if Wise is accepted for a Dubai company). I usually use︍ EUR / USD.

I am aware of that. I once read a lot about that topic and I'm sure️ I dont have a nexus there. Additionally, it is extremely complicated, especially for non-physical goods‌ since I can not verify the real location of the customer with guarantee. It is‍ practically impossible because of its complexity (every state/ city has different rules, rates, thresholds, ...)⁠ unless you are a big corp. I let the customer select the billing country and⁤ it may happen that they select another country when there is no tax. And I⁣ can not verify that. But if anyone has experience with that topic (in terms of⁢ non-physical goods and internet business, you may message me).
 
In this case seems (at first glance) that both suggested options (1. and︉ 2.) should work. Actually I don't even see a need for the EU company at︊ all. However, I would check with people that offer incorporation and bank accounts opening in︋ Dubai how hard will be to open bank account in Dubai for company with no︌ substance there. My understanding is you sell digital product/service that has nothing to do with︍ Dubai and you will not reside in Dubai?
Last time I checked people were complaining︎ it got much harder to open business bank accs in Dubai even for companies with️ substance there depending on the sector and that for free zone companies it's even harder.‌ However, someone with good relationship with a bank might be able to overcome that for‍ a fee. But that is the critical single point of failure I see in your⁠ plan so far, given that you have good relationship with your payment processor already. Otherwise⁤ that would be the other weak point.
In short, in most of those plans/setups getting⁣ reliable banking is usually the hardest part.

p.s.
disclosure, i'm in a hurry and haven't⁢ given it deep thought but those are my first thoughts about it. Hope it helps︀ though.
 
That's quite fine, then.

Well. As I have already said, US taxmen︄ are not less money-hungry than their colleagues around the world 😉 With all due respect, I︅ do not recommend to think that just reading a lot makes you smarter than they︆ are (or at least sufficiently smart) 🙁 .

Yes it is; but unfortunately, this does not make you free of all︇ the obligations...

Your unability to verify that the customer has not made a mistake (unintentionally or intentionally)︍ is not your fail, under condition you deployed sufficiently fair measures to prevent it.

From what I have seen, engaging️ a merchant of record is frequently/usually a solution deployed in such a case.

True.

Exactly 🙂
I agree in general. Nevertheless for︀ @drain 's case, US sales tax is the most challenging problem, IMO.
 
At the very least you log different⁤ details in the ordering process, such as Physical and IP address. If they correspond then⁣ you have at least proof that you did what is within your reach.

Claiming that⁢ you cannot verify something wont hold anywhere.
 
What stops you from simply open an UAE account for your company there and get⁣ the funds from Wise transferred to this account ?
 
Sorry it is a good friend of mine who‍ just did this and told me about it. I saw the passport because I told⁠ him I could not believe what he said. Anyway, it's possible and don't require special⁤ connections in Turkey.
 
Yes, this is really interesting. Almost “too good to be true” 😉
Of course, the devil can be hidden behind details; e.g. I presume that Turkish goverment keeps⁠ your original name in the records and it is linked to your new name forever⁤ – consequences are clear...

A new thread dedicated to this has been started here https://www.offshorecorptalk.com/th...turkish-citizenship-through-investment.46517/ (the relevant posts copied). Please, go there with any relevant dicussion.
 
May I ask︈ what you have concluded? You have received a lot of responses here, so it would︉ be great to know what the final outcome is.
 
Can I ask you if you went with a US LLC, DUBAI‍ LTD or what did you setup to avoid your name to be public?

I have⁠ been following a few threads here and there also in the secret forums for MG⁤ if you use some of the methods there which I believe still work well i.e.⁣ some sort of nominee or imaginer friend model you could succeed with your plans.
 
Imaginary friends‌ works always and will work always.
 
Update:
My goal was to incorporate a company where my details (shareholder, director) are not‌ publicly accessible for journalists, customers, competitors, etc. Real anonymity, i.e. that my details are also‍ hidden from governments/ authorities seams extremely hard and expensive so I will not follow this⁠ route.

I decided to incorporate a Dubai freezone company (IFZA) where I am personally the⁤ own shareholder and director.

Some points I figured out:
  1. It doesnt make much sense to⁣ have my EU company own the Dubai company. Also, the setup cost & time of⁢ that would be much greater and more complex. I would still have to declare the︀ UBO in the UAE.
  2. UAE / Freezone have UBO registers and require that, but it︁ is not public. Only available to government.
  3. UAE Freezone has no public register of shareholder/︂ director data. Unless there is a leak or someone goes through court, there is no︃ way to find out director/ shareholder names. Again, only available to government/ authorities. The freezone︄ told me that and I also was not able to find out the details of︅ some Dubai companies.
  4. Cyprus has public shareholder/ director register available to everyone online. Would need︆ nominees to hide my identity. And there is still non public UBO register as far︇ as I know. Malta is probably similar.
  5. US LLC in specific states would be the︈ best for anonymity, but I dont want to deal with US authorities nor own a︉ company there, so this is no option.
  6. I am also thinking of moving to Dubai︊ at a later point to also have lower tax, and I would prefer Dubai over︋ Cyprus/ Malta to live probably. Also I dont need nominees in Dubai and to have︌ the same effect in countries like Cyprus I would need nominees.
  7. One need a Visa︍ from Dubai to be able to open bank accounts for the company (need to travel︎ there, but not live there)
I havent incorporated the new company yet.

Let me know️ if you have anything to add here.
 
If you just want to hide your identity from competitors, journalists etc it is very‌ easy and there are many country options available. The use of a simple Nominee will‍ work in most cases. IFZA is a good location but UAE in general is more⁠ complicated than some locations and generally more costly.
 
True, CY LTD with the nominees seems like an option.

But I believe, that you still⁤ can find the UBO if you pay like $50 for the report, correct me if⁣ I'm wrong.
 
For example? Not many, and you don't want your company in those‍ EU countries.

In most EU countries you can access the info about the UBO.
 
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