No accounting required company (outside EU) + Local bank account

[Brillo]

Hello guys,
For reasons that I am not here to explain, otherwise it would take too long ... I need to open a company outside the EU.
This company is required to open a 2Checkout account only... below are the requirements:

1- Cheap incorporation
2- No accounting required
3- Outside EU and US
4- with the possibility to open a local bank account (mandatory because 2Checkout Payout can be done only to local banks)

Do you have any advice?
I wouldn't spend a lot because as mentioned above, it will be used only to open a 2Checkout account and receive some payments each month.

Thank you

 

[troubled soul]

Dubai freezone any time , but it is very tricky to get local bank account now day

 

[Brillo]

azb1 said:
Dubai freezone any time , but it is very tricky to get local bank account now day
Click to expand...

Thank you for your advice.
Any "low-cost" agent for that?

Also, isn't Seychelles or similiar also cheaper and without accounting obligation?

 

[fshore]

You don't mentioned that there should be 0% tax, so there are some places that don't require accounting for some types of small companies, for example Macao.

 

[CaptK]

You are limited outside of EU as banking is difficult. Seychelles is not cheap to maintain and even harder for bank account.
What is your nationality and residency.

 

[Brillo]

CaptK said:
You are limited outside of EU as banking is difficult. Seychelles is not cheap to maintain and even harder for bank account.
What is your nationality and residency.
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Maltese,
And yes, 0 taxation is also the way to go.
Again, this company is just needed to open a single account... so I want a company as cheap as possible

 

[NicolasMaduro]

Do 2checkout payout money to any bank account? For example Stripe will only payout to local bank account in UAE for UAE Company.

Cause if you need both a local bank account AND a Company with 0% tax and No accounting, then I will say your mission is close to impossible

 

[Brillo]

NicolasMaduro said:
Do 2checkout payout money to any bank account? For example Stripe will only payout to local bank account in UAE for UAE Company.

Cause if you need both a local bank account AND a Company with 0% tax and No accounting, then I will say your mission is close to impossible
Click to expand...

Same for 2Checkout. Is that hard to open an account in UAE? I heard there are tons of local banks there.

 

[NicolasMaduro]

Brillo said:
Same for 2Checkout. Is that hard to open an account in UAE? I heard there are tons of local banks there.
Click to expand...

Yea you will 100% chance get refused by all banks in UAE when you dont even have any substance or anything.

Your only chance is to get residency, an apartment and office lease for your Company. And then its not cheap anymore and even with substance and residency in UAE you might get rejected

 

[CaptK]

I think OP needs to define cheap?
UAE is gonna cost you north of $8k
UK Ltd is going to be about £3K.

What is the reason why you dont want US or EU?

 

[johndunham]

CaptK said:
I think OP needs to define cheap?
UAE is gonna cost you north of $8k
UK Ltd is going to be about £3K.

What is the reason why you dont want US or EU?
Click to expand...

Why do you quote UK Ltd on 3 K? You can incorporate for pennies. What am I missing?
Also, accounting would be required right?

 

[Brillo]

CaptK said:
I think OP needs to define cheap?
UAE is gonna cost you north of $8k
UK Ltd is going to be about £3K.

What is the reason why you dont want US or EU?
Click to expand...

"I think OP needs to define cheap?"
My investment for this is: not above 10$K year.

if UAE is: 0% tax , no accounting required and with the possibility to open a Corporate Local bank account is definitely my choice.

2Checkout recently changed their regulations and you have to own your PayPal account while without an EU or US company (don't know about UK... but I think it's same as EU) you can still receive paypal payments with their account instead of creating your.

I really doubt any other country will cost me less than 10k per year if accounting is required and especially if there is a taxation...

Last edited: Mar 29, 2022

 

[CaptK]

johndunham said:
Why do you quote UK Ltd on 3 K? You can incorporate for pennies. What am I missing?
Also, accounting would be required right?
Click to expand...

He needs a bank account

Brillo said:
"I think OP needs to define cheap?"
My investment for this is: not above 10$K year.

if UAE is: 0% tax , no accounting required and with the possibility to open a Corporate Local bank account is definitely my choice.

2Checkout recently changed their regulations and you have to own your PayPal account while without an EU or US company (don't know about UK... but I think it's same as EU) you can still receive paypal payments with their account instead of creating your.

I really doubt any other country will cost me less than 10k per year if accounting is required and especially if there is a taxation...
Click to expand...

UAE is your best option

 

[Brillo]

CaptK said:
He needs a bank account


UAE is your best option
Click to expand...

@NicolasMaduro said that it's almos timpossible nowdays to open a local bank account. Do you have any information to the contrary?

Also I just noticed that this Paypal change has been done only for European Economic Area countries... so UK and USA shouldn't be included in these changes.
Maybe UK is better? Anyway seems that there is taxation and Accounting is required?

 

[NicolasMaduro]

Yes I think he must have missed the point that you need local bank account.

 

[CyprusLawyer101]

Are you non dom in Malta?

 

[Marzio]

CyprusLawyer101 said:
Are you non dom in Malta?
Click to expand...

If he is Maltese i guess he can't be non-dom

 

[CyprusLawyer101]

marzio said:
If he is Maltese i guess he can't be non-dom
Click to expand...

True that! 🙂

 

[Brillo]

marzio said:
If he is Maltese i guess he can't be non-dom
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I just moved to Malta 4 months ago and I took up residence here. Obviously I am not a Maltese citizen, only a resident

 

[CyprusLawyer101]

This changes your options to a good extent