I'm an Indian citizen born, brought up, and currently resident in the UAE. I need to set up a legal entity so I can receive money (through Paypal preferably) from:
Right now, I'm thinking of a Wyoming LLC with plans to reside perhaps︁ in Europe (UK, France) or Singapore? Maybe even Australia or New Zealand? I don't know︂ yet, I'm in the early stages of research and it's all a lot. That's why︃ I'm here. I will be consulting professional company setup experts as well but I wanted︄ to hear what all of you thought. I discovered this forum a couple of weeks︅ ago and it's a goldmine. Thank you all so much for taking the time to︆ read this and sharing and contributing your experience here.
- Selling digital goods (books, wallpapers, art, games, music etc.) internationally on platforms like Ko-fi, Patreon, Vimeo, itch.io, Etsy etc. So (i think?) the platform would take care of the tax for different countries as I wouldn't be selling directly?
- Selling personally made physical goods (merchandise, jewellery, card decks etc.) internationally also on third-party platforms/drop-shipping websites.
- Occasional freelancing of the services I provide (animation, graphic design, copywriting, illustration, etc.) – nothing that requires a professional︀ license. This can either be direct or sold through a platform like above.
- Having patrons︁ on Patreon who would have monthly subscriptions to me for behind-the-scenes content, extra digital content,︂ etc.
- Crowd-funding from websites like Kickstarter
- Which place of incorporation would be best for my company (single member LLC seems to be the best choice?)
- Access to payment providers like Paypal and Stripe is important, as is reputation. So no traditional︅ offshore places like Seychelles or the BVI.
- For banking, I'm looking at Wise (formerly TransferWise).︆ So easy opening of an account there is important.
- I don't mind detailed bookkeeping and︇ being audited but the less hassle the better.
- Access to payment providers like Paypal and Stripe is important, as is reputation. So no traditional︅ offshore places like Seychelles or the BVI.
- Which tax residency would best accompany the︈ company set up?
- I don't plan on travelling a lot and would like an established︉ tax residency in a safe, stable, well-developed country where I can preferably obtain permanent residency︊ and settle down.
- I don't mind paying total (corporate+income) taxes up to 20ish%. I'd just︋ like to avoid numbers like 30-40%...
- I don't plan on travelling a lot and would like an established︉ tax residency in a safe, stable, well-developed country where I can preferably obtain permanent residency︊ and settle down.
- N00b Question Incoming: Where do I require business licenses︌ from? Only from the place of incorporation or also place of residency?
- For example,︍ if I set up a Wyoming LLC but live in and make and sell my︎ handmade ceramics from the UAE, will I be subject to all the licenses the UAE️ requires for that? Or are UAE licenses only for companies formed in the UAE?
- For example,︍ if I set up a Wyoming LLC but live in and make and sell my︎ handmade ceramics from the UAE, will I be subject to all the licenses the UAE️ requires for that? Or are UAE licenses only for companies formed in the UAE?
- High annual license fees.
- Severe restriction of the activities I can do with 100% ownership (eg: as a sole proprietor) as a non-GCC national.
- Too many licenses – especially for media from the National Media Council. There's licenses for every single article of media created including games, books, etc. Hell, there's even a social media influencer license??? I don't want that much regulation or censorship over my artistic work.
- I can't crowdfund!
- Racism, classism, local vs. expat culture, no citizenship or permanent residency, desert environment etc. I hate living here and just want to leave.
- etc. etc. etc.
Right now, I'm thinking of a Wyoming LLC with plans to reside perhaps︁ in Europe (UK, France) or Singapore? Maybe even Australia or New Zealand? I don't know︂ yet, I'm in the early stages of research and it's all a lot. That's why︃ I'm here. I will be consulting professional company setup experts as well but I wanted︄ to hear what all of you thought. I discovered this forum a couple of weeks︅ ago and it's a goldmine. Thank you all so much for taking the time to︆ read this and sharing and contributing your experience here.
