Best Country with Best Digital Bank

[IlBDX]

Hello!
Revolut blocked me my account today. amazing news!
Next Week I will start to open a new company or Singapore or Dubai.
In Dubai there are any bank that offers revolut like service? like virtual credit card?
In europe, which is the best alternative to revolut?

 

[Houdini]

Why did they blocked your account? shady business?

For banking in Dubai, check
https://www.offshorecorptalk.com/threads/any-good-alternative-to-currenxie.39360/
Also speak with @Fred and @Gediminas

 

[IlBDX]

Not shady business. I am both italian and israeli. They understood that my account is‌ for business , but i can't open revolut business bc they dont support israeli companies..‍

 

[koohl]

So you want to setup your business in Dubai for privacy and tax freedom !‌

 

[rowena]

All banks will close your account once they notice you're⁠ using a personal account for business purposes. You can open a freezone company and a⁤ bank account in Dubai but it will take time 3-4 weeks and cost you min⁣ $10K.

 

[Wellington]

Can this be done remotely?
Online Banking (euros?) compatible with crypto?
How would you⁤ inject a BVI corp into that?

 

[JimBeam]

You can open a company‍ remotely, but you'll have to show up eventually to take care of the medical check,⁠ visa and residency etc.

There are banks that you can apply fully online (even for⁤ business account) but once approved they'll usually come to pickup signature specimen or deliver welcome⁣ kit (debit card + checkbook).
Most banks offer multi currency accounts so EUR is included⁢ - no issues. But currently the issue is the EUR exchange rate if you need︀ to exchange EUR for AED (to pay company expenses, salary etc) as the spread is︁ now 8-10% so you could lose 4-5% easily on the exchange. In UAE dollar is︂ more preferred. (the spread for USD is about 0.5%) and AED has a fixed rate︃ to USD.

Not sure if there is any point having BVI company in parallel with︄ UAE one.
I don't see any benefits at all but if I'm wrong - please︅ correct me.

 

[JohnLocke]

agree very much on this part.

If you have the⁠ money to establish a business setup, then go with a Dubai company by @Fred - it's way better to go that route compared to a BVI company.