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Problem is that flexidesk doesn't cut it these days and it's almost impossible to open any bank account with it. IMO all things considered banks in the UAE are crap and even EMIs are better. If you haven't heard from them, it means you probably never will. PayPal won't work for you and I...

I phrased that out wrong, my source of profits was from Poland, I'd relay the funds to Estonia and then transfer them out to UAE. I've done same with Poland - Czechia - Malta, Germany - Estonia - UAE etc. Making complex stuff on paper is what I like doing hence I always involve way more...

I don't think you'll face issues with legality but make sure all is in order when it comes to your documents and that all of the crypto transfers check out in case of an audit, also make sure you bank is fine with you making crypto investments and getting the money from POS because they can drop...

I thought you're involved in some shady stuff thus crypto solutions. Well, you can use any of the solutions I've mentioned above knowing their risks etc. or in all honestly with your type of business you can just shift profits normally claiming expansion to the MEA region in the same industry...

I disagree with Fred on that one, Dubai banks can absolutely freeze your accounts if something doesn't add up or if you fail and somehow allow them to see it's coming from crypto or some illegal source. They'll ask you a number of questions and require documents so you prove the money is all...

I mean sure it does but they won't discover it immediately and if you have all the valid reasons and proofs then it's viable option. Your company can do all sorts of investments as long as they're legal and could potentially bring your company profit. When evading taxes you gotta make the...

It's not so hard to fake all the necessary documents that'd be sufficient proof in such cases. You can very well start living in say Malta, get a local bank account, get resident ID, pay some fake rent to a lawyer (that'd give you back the money or use it for other services you're normally...

You wanna do it the perfect way? Find a business partner in a high tax legit looking jurisdiction such as China and wire them the money for a % share, they'd wire it back to you in Dubai. What product or service your company bought from China you'd have to figure out, alternatively you can...

My residency is so messy no bank knows who to report to and no government knows where the heck I actually live. Been living like this for the past 4 years and no issues so far /edit - that is to say that you could get away with this Last edited: Oct 11, 2021

Based on experience and certain extent of knowledge in Polish, Czech, Hungarian and Slovak law you can use your personal account to accept payments on behalf of the LLC company you control, as long as the invoice is issued as normally, bank account number stated and transfer is well described...

Truth is he can very well get a bank account opened for RAKEZ company with Payoneer, Bankera or Cimbanque. I've done so for my RAK company without any issues, I also have an account with DIB and used to have one with NOOR when it was still around. He'll need to visit the branches in person and...

In many countries I worked in that haven't been as strict as the UAE if you run an online business you can very well do so using a personal account as long as the transfers/payments are well described and recorded as a separate commercial activities, you'd also have to later put it on the tax...

Simply untrue, although it is usually the case for the banks in the UAE it's certainly not for ones in Central and Eastern Europe. Even Polish law states it's allowed as long as transfers are well described and duly recorded as the business ones. In some countries when being self-employed it's...

This is true although you could open an account with an EMI like Payoneer or Bankera entirely remotely for the time being and then switch to a traditional bank when the situation becomes better. Even during the pandemic UAE is pretty safe and I've been going back and forth to Dubai, never had...

Thank you for understanding, some things are just ought to be kept away from the comparatively large public. The restrictions are pretty lax, I love it here especially compared to the draconian closures and communist like measures in EU right now. The mask is required at all times whenever in...

Agreed. If you want to buy the property for yourself to live in, for an investment or to be able to get a tax residency certificate go ahead, but if you just wanna earn some money on the side doing rentals I wouldn't advise that.

I'm not fully certain if you'll be able to provide rentals using a free zone entity onshore of the UAE. Furthermore you need to be informed about all the regulations there are when it comes to renting a place, you'll certainly need to collect a tourism fee from your visitors - if you don't...

I do have a traditional account opened for Seychelles IBC in the UAE and a TransferWise account as well. Payment processors usually don't work with Secyhelles, I do however managed to operate using PayOP, Ikajo, Amald and Payfort (which I believe has been acquired by Amazon and no longer...

There aren't many jurisdictions that'd cover all of your requirements really. Good set-ups take money and time and often involve more than one country so based on your current profits it might not be worth it (I don't know what they're). I don't know what revenue you're getting or what's your...

Since the account of mine is still operational I'd like to withhold sharing the information about the bank name not to attract any unnecessary interest. To me CRS and all those declarations have always been a bit funny because nobody checks the information you provide, to everybody's knowledge...