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]

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

My advise is to setup a Dubai Company with︈ E-Commerce license, residence visa and local UAE business bank account. With this setup the bank︉ 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 24︋ hours in the UAE - 2 days per year. With this setup you can really︌ live the Digital Nomad Lifestyle and have a full bank account to store and invest︍ your earnings.

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

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

 

[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]

Send you PM.

 

[adamecom]

Please send me more info. I am based in the UK︊ and run an e-commerce site. I'm looking to move to Dubai and have a similar︋ 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]

Did you got setup there?