For the tax matter, keeping profit in low-tax country is just the first step. How to send profit back to your home country and spend it legally is another story and generally it is different for each country. Developed countries have more power to control their citizens but many developing countries cannot (or even don't care). So you can setup offshore structures like many people are doing, but also need to understand the taxation policies in your home country as well
Hong Kong or Dubai offshore companies do they need an accountant?
- Thread starter bogdy23
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I agree for a small Emirates it's very difficult if not an impossible task to obtain a bank account nowadays. Years ago it was so easy to open up an Ajman Freezone company (cheapest at the time ) and get a bank account at any of the banks or walk to Ajman bank next door to the freezone but not anymore.
Some free zones in UAE require an audit - so double check in advance.
Also it if you go over 375K AED in last 12 months you need to register for VAT and at that point you'll probably need an accountant. So, if you plan making above this amount get the accountant︀ from day one... If you don't - you need to reconsider is it worth doing︁ UAE FZ setup...
Also it if you go over 375K AED in last 12 months you need to register for VAT and at that point you'll probably need an accountant. So, if you plan making above this amount get the accountant︀ from day one... If you don't - you need to reconsider is it worth doing︁ UAE FZ setup...
Provided he would have zero tax rated sales exceeding AED 375k per annum, all it takes is to fill one field properly in the quarterly VAT reports (total AED of︀ sales), while all others field need to be field with 0. Takes no more than︁ 5 mins and can be easily done without accountant.
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