Hello Community,
Is there any comparisons among countries about pros-cons of setting up a business remotely?
I’ve received a job offer from a German company before COVID19 back in January. But before I could move to there travel restrictions was introduced and I got stuck. So, I started working remotely. Now, in September I still don’t know when the embassy of Germany will start processing visa here. So, I’m looking into other options to start a business online and work through that company. And later move to there through business visa or something similar. Because, even though German embassy isn’t processing visa here, embassy of other countries are running fine and issuing visa.
So, after some research I found Bulgaria, Cyprus and Montenegro are possible options, though each have their own pro and cons. Is there any side-by-side comparison available or can anyone help me to contact any trusted law firm/agency to help me in this matter?
Important considerations for me:
Possible to get visa through creating company
Multiple shareholders can be added
Low tax rate
Visa possible for shareholders
Possible to create personal bank account with international banking service
You can form offshore company in UAE.
You can do online business.
Your global customers are not taxed
Your local UAE customers will have to pay VAT and VAT registration to be done in case of local sale.
You can’t do some restrictions business like lawyer , doctor , banking etc
Your salary is 100% tax free and repatriable
Your annual audited profit is 100% repatriable
You can get residence visa in UAE and stay in any UAE cities irrespective of visa status in Dubai, Abu Dhabi or Sharjah (main cities)
You can have family dependent visa for your family
You can open company and personal bank accounts
You can open offshore account outside of your home country to park profits
Live tax free life and 365 days of sun in UAE
You need to stay 3 days before every 6 month cycle to manage your residence visa.
2 years or 3 years visa possible
If your company needs partners, and they too want residency for them and families, company need to be structured such
Top world class banks from British, USA, Swiss and Liechtenstein banks available.
190 nationalities living peacefully here.
If you have most clients from your home country and wish to take advantage of dual taxation treaty then you need to have 180 days stay in UAE for getting tax residence certificate (despite paid zero tax)
Seems to me you’re trying to achieve too many things with 1 business.
Generally when a company also has a visa attached, you can expect hassles.
By the looks of it, a visa is the most important requirement for you. If this is the case, focus on that part first. Once you get a visa to a country, personal bank accounts are almost a given as you need them for things like paying rent and local utilities (both of which are probably required to get your visa).
Once you have your residency sorted, then look at the best option for running an business from the perspective of tax/ease/quality banking/etc.
For what it’s worth I write some thought exercise articles on both topics: