Dropshipping business company setup (UAE DUBAI + ?) stripe problem

[Matteo9311]

Hi, I found the forum looking on the internet.
Congratulations, the forum is really well done and I found many interesting ideas.

I have been dropshipping for some years now, I live in Europe and now the time has finally come to say hi to this country.
I know many people who live in Dubai and do dropshipping from there.

My idea was
1) Company in free zone (Fujairah creative city) + residence in dubai, obviously I will live there without any problem. The problem lies in the fact that unfortunately in Dubai I cannot accept stripe payments (necessary for my stores).
I was planning to open LLP in uk or LLC in Delaware.

What do you recommend?

Or is there anything additional that can be done in dubai to activate stripe?

Thanks a lot for the support
I am truly grateful to you.

Obviously I don't need to do dark things as I physically move to the United Arab Emirates

 

[WoWNull]

Or is there anything additional that can be done in dubai to activate stripe?

You can't
UAE is not in stripe list, there is some local providers like network.ae u can check them they are good but not sure with international cards how much will take, for stripe better to go with UK

 

[JustAnotherNomad]

I’m not an expert, but I think a UK LLP has more reporting/accounting requirements than a US LLC. But Stripe fees are lower for European cards if you use Stripe from a European country, instead of Stripe US (1.5% vs. 2.9%). If you have many European clients, you’re probably better off with a European company.
There are also payment providers in the UAE, but I think they are even more expensive than Stripe USA.

 

[proexper]

Hi,
in order to get quick Stripe, maybe you could check Estonia.
if you do FBA you can set-up easily from Estonia, just get your E-residency from the closest Estonian Embassy.
Quick setup company and cheap, all remotely

 

[JustAnotherNomad]

Estonia has a 20% corporate income tax on dividends. You'd want to make sure you can avoid that. For personal services, it would probably work, but for something like drop-shipping, I think this could very quickly become a problem.

 

[proexper]

Estonia has a 20% corporate income tax on dividends. You'd want to make sure you can avoid that. For personal services, it would probably work, but for something like drop-shipping, I think this could very quickly become a problem.

True, 20% but you can hold 0%, you only pay when you take it, can keep and reinvest, not sure if you can move with invoices to offshore. Anyway is just an option to explore, you can see companies who offer setup for Amazon FBA with Eresidency, just google.

You can do it from Cyprus, only 12.5%

The best shot you can try MONEI, in the past they allow UAE easy, now you can try with Multiple Acquirer Plan.

 

[picusmarc]

Hi. Estonia is ok for company formation. What about bank account (impossible to open in Estonian bank even for Estonian company without real connections with Estonia)?
1. Is it appropriate for Stripe if Estonian company uses PSP account like Transferwise?
2. Should business account be opened in the same country as company?

 

[JustAnotherNomad]

You will not get a bank account in Estonia if you don’t have a connection to Estonia. They are really strict.

Also guys, please get proper tax advice. It’s not just “Oh, I will just register a company”. You need to understand the tax implications. Transfer pricing, lots of things play a role.

 

[tombazzlez]

stripe functions in the uae now. as of mid 2021