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yes but i keep hearing without a rental lease agreement to show a bank -- getting that company bank account is unlikely nowadays. I don't mind renting a condo there, but here's the problem -- I won't be living there. And I hear in UAE you cannot sublet legally. So how do I use the apartment i...

ok so the bottom line is... we will need a lease in UAE for ourselves (tenancy agreement), we will need some kind of office (beyond the flexidesk faux office provided by the incorporators, right?). So you're going to have to spend the money to properly fake a life and fully living in dubai --...

what i wonder is, some ppl who form these UAE companies tell me that WHERE you form your company -- which zone -- doesn't really matter -- what matters if you need to show the bank a lease for an apartment/house to prove you live there -- that's what gets you the bank account, and the zone isn't...

ok so what's with so many people saying Labuan is no longer offering that 3% rate. I thought Labuan was a lost cause nowadays.

maybe just pay the tax there, if your profit is like 150,000 usd annually, this video shows your effective tax rate would only be about 6% -- and there's no personal income tax levied on your dividends, so you're only going to get taxed once, at 6%, if you run a business there with that kind of...

Singapore corporate tax is 17% -- however, apparently if you have your clients and suppliers all entirely OUTSIDE of singapore, the tax will only apply to you if you remit your revenue into and through singapore. So essentially, you don't want to bank in singapore if you open a singapore...

i use this site as reference: https://gsl.org/en/offshore/offshore-zones/ click on middle east to expand -- and it lists a bunch of UAE zones and prices per year, and per 2nd year of incorporation. Are these ALL the available options? Which of these could get bank accounts? And which are...

Fred's kinda right, in that where else can you get zero tax, zero accounting auditing etc thats also still a halfway respectably jurisdiction? I feel like UAE is kind of all thats left globally in a way. Everywhere else there's some kinda tax, or accounting, auditing. I guess USA LLCs are very...

If i create a delaware or NM LLC -- i get a EIN number, open a mercury account or maybe even get a citibank etc real bank account.... and because USA is not CRS.... those bank accounts i make in the USA would never mention that they exist to my home country right?

so.... in summary.... is forming a UAE company a good idea still or not? If you cannot get the corporate bank account there.... it's no better than having a BVI or Bahamas company anymore. Just a lot more expensive to form the company and maintain it in the UAE than those jurisdictions. What's...

indeed sketchy as hell, and a pretty ridiculous response, this was the company that proposed it to me, a singaporean company strangely. They seemed like pretty dumb characters to me if they hadn't even thought out replies to those kind of basic questions that surely anyone would ask. I don't...

I was asking various tax and legal people in HK for quotes on forming a HK company. One company, called Ressos Legal, offered me a pre-existing HK company which they claimed already had an HSBC bank account -- all the price of 18,000 USD. So I replied, interesting idea, but wouldn't HSBC...

Let's say I form a Singapore company. I like in thailand for the territorial tax break. If I hire Singaporean virtual assistants, and they work from home for me -- does that qualify as SUBSTANCE? Couldn't they claim on my behalf their home is office space for me? I'm not even sure that much...

ive heard lots of stories of ppl being robbed by Wise. So i don't feel comfortable with them. Bankera I haven't heard negative feedback so far, so I'll try them. How about Neat? Ppl's thoughts?

At least that's the loophole according to this guy:

but does anyone have suggestions of fintechs that are at least more reliable? Less horror stories of random accounts locked? Or are they all shady.

thats definitely a super annoying system then in romania -- submitting taxes every month? Wow. You'd need to keep an accountant on staff year round. then I'd like to enter into discussion HK and Singapore. There's technically no corporate tax for either if you simply have all your clients in...

so would these incognito banks potentially be better options and more reputable than the banks in that sites main list? When I read about a few of them, they actually look promising, older, and in good jurisdictions -- the few i checked. So when we GOT the account, then we would obviously be...

Is there a way to filter the results to those banks which open remotely currently? So hard to travel anywhere presently, that'd probably be the most useful feature right now. secondly, a filter that specified minimum deposit required to open. this tax company has a decent list of banks, and...

best thread ever, especially in 2021. thank you very much, i hope this thread keeps going and growing. Bump