Dropshipping business in Cyprus + Digital Nomad

[Nomad Dropshipper]

Hey, good evening,

I'm from brazil and i'm the owner form a Dropshipping business.

In the next 3 year am going to be traveling around the world, and i'm also planning to expand my operations to other countries.

For these reason I'm serching for the best offshore structures for me.

The idea is to be a non tax residence from Brazil (just stay 184 day outisde from Brazil), and becme a tax residence form Cyprus.

We are also planning to incorporate the company in Cyprus because of the 0% tax for forgein income, and because stripes works there.

Do you think it is a good idea?

Thank you guys

 

[Fred]

Nomad Dropshipper said:
Hey, good evening,

I'm from brazil and i'm the owner form a Dropshipping business.

In the next 3 year am going to be traveling around the world, and i'm also planning to expand my operations to other countries.

For these reason I'm serching for the best offshore structures for me.

The idea is to be a non tax residence from Brazil (just stay 184 day outisde from Brazil), and becme a tax residence form Cyprus.

We are also planning to incorporate the company in Cyprus because of the 0% tax for forgein income, and because stripes works there.

Do you think it is a good idea?

Thank you guys
Click to expand...

Digital Nomad don't work when it comes to banks. You will need your residence in Cyprus with an apartment and to become a tax resident in Cyprus you need to stay at least 60 days per year there. Keep in mind you have quite high accountant fees with Dropshipping Business in Cyprus as you have many transactions on the merchant accounts. Dropshipping works with small profits but high number of sales. That's increasing your bookkeeping costs significantly. Banks in Cyprus are not familiar with E-Commerce or simply don't accept it due to high risk especially classic Dropshipping with suppliers from china.

My advise is to setup a Dubai Company with E-Commerce license, residence visa and local UAE business bank account. With this setup the bank considers you a local UAE resident and no reporting to your home country will happen. To keep this scheme working you simply need to be every 180 days for 24 hours in the UAE - 2 days per year. With this setup you can really live the Digital Nomad Lifestyle and have a full bank account to store and invest your earnings.

To solve ther merchant issue just incorporate an UK LLP that is tax neutral. You simple form the UK LLP with your UAE company as a partner and the other partner is yourself.

With this setup you have reliable local UAE bank account, can live a Digital Nomad Lifestyle and 0% tax.

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[Nomad Dropshipper]

Hey Fred, thank you for your advice.
I already send a message to the link in your banner. Is it possible to talk with your directly form there?

I think that the main problem is with the merchant accounts, for me is not clear how it is going to work this UK LLP. Maybe the compliance it too risky.

 

[Fred]

Nomad Dropshipper said:
Hey Fred, thank you for your advice.
I already send a message to the link in your banner. Is it possible to talk with your directly form there?

I think that the main problem is with the merchant accounts, for me is not clear how it is going to work this UK LLP. Maybe the compliance it too risky.
Click to expand...

Send you PM.

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[adamecom]

Fred said:
Digital Nomad don't work when it comes to banks. You will need your residence in Cyprus with an apartment and to become a tax resident in Cyprus you need to stay at least 60 days per year there. Keep in mind you have quite high accountant fees with Dropshipping Business in Cyprus as you have many transactions on the merchant accounts. Dropshipping works with small profits but high number of sales. That's increasing your bookkeeping costs significantly. Banks in Cyprus are not familiar with E-Commerce or simply don't accept it due to high risk especially classic Dropshipping with suppliers from china.

My advise is to setup a Dubai Company with E-Commerce license, residence visa and local UAE business bank account. With this setup the bank considers you a local UAE resident and no reporting to your home country will happen. To keep this scheme working you simply need to be every 180 days for 24 hours in the UAE - 2 days per year. With this setup you can really live the Digital Nomad Lifestyle and have a full bank account to store and invest your earnings.

To solve ther merchant issue just incorporate an UK LLP that is tax neutral. You simple form the UK LLP with your UAE company as a partner and the other partner is yourself.

With this setup you have reliable local UAE bank account, can live a Digital Nomad Lifestyle and 0% tax.
Click to expand...

Please send me more info. I am based in the UK and run an e-commerce site. I'm looking to move to Dubai and have a similar setup. Thanks, Adam

 

[Nomad Dropshipper]

Hey Adam,

I would recommend you to tak with @Fred from DLS Dubai , they are Dubai experts and was very helpful in my decision.

 

[JohnLocke]

Nomad Dropshipper said:
Hey Adam,

I would recommend you to tak with @Fred from DLS Dubai , they are Dubai experts and was very helpful in my decision.
Click to expand...

Did you got setup there?

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