Jurisdiction Recommendation for $1M+ Turnover Business

[Andrei636]

can't you︀ use a foreign bank account like online banks as revolut ?
can't you cashout on︁ your personnal account since there is 0% tax ?
What if you own a dubai︂ LLC with a virtual office rent for only 2.5k that you get in bundle with︃ the company formation with most of lawyers? then u cannot own a business bank accunt︄ ? 😱

 

[rowena]

I need to run with several companies because of the nature of my business⁣ and UAE is one of the most expensive countries to run a company. There are⁢ lots of company types and you can not open a real bank account with cheap︀ ones(offshore companies, flexi desk companies etc..). Your expenses will be $20K per year per company︁ for a company with a real bank account and I don't want to pay $100K︂ per year for my all companies 🙂

The VAT is not an︍ issue, my business is VAT exempt but the problem is getting a real bank account.︎ I have a priority, high balance personal bank accounts with 2 different banks for 5️ years. I went to their headquarters to apply but still rejected my very low risk‌ business(they also tried to sell shitty investment products) because they don't want PO box, flexi‍ desk companies. Basically you have 2 options to get a real bank account for your⁠ company: Proper-office rented company setup or Wasta.

I don't know Revolut but most of EMIs working with UAE companies. I have RAK︂ ICC company and cashing out to my personal account in UAE. This is a working︃ solution 😉 but still checking other options.

Opening a bank account with virtual-office is almost impossible.︄

 

[buenosdias]

I don’t think OP could check all of his boxes in any jurisdiction, other than‌ UAE. Even though you can find one (very unlikely), the rules will change in the‍ future (like in Seychelles), due to obvious reasons.

 

[iloveyouguys]

Hi, have you set up a US LLC?