Escaping to UAE (payment processors)

[Narco]

Hey everyone

I am considering moving to UAE but I have no idea which type of company I should set up. Wondering if UK ltd + UAE company can work for me. I need something stable as I am completely transparent with my businesses.

I sell services b2c, b2b and also own multiple dropshipping e-commerce stores.

What do you recommend to have payment gateways on point considering Stripe is not available in UAE?

Asking because I would need 10 different PayPal + cc accounts (completely different income sources)

I am open to alternatives but please nothing related to EU... I escaped from that black hole when I was 18 after a serious tax-related depression... countless of nights awake and stressed to see 80% of my money gone away

For privacy reasons not disclosing where I live now, but need help from those who moved to UAE.

 

[clemens]

UK Ltd as the front operation to send money to an UAE company sounds very reasonable and should work without problems. Depending on what tax treaties there are. Most living in the UAE are looking into Cyprus companies. May also be easier at the end of the day with PayPal, EMI's and taxes.

 

[Narco]

UK Ltd as the front operation to send money to an UAE company sounds very reasonable and should work without problems. Depending on what tax treaties there are. Most living in the UAE are looking into Cyprus companies. May also be easier at the end of the day with PayPal, EMI's and taxes.

Yes, something like this. Hope to get more insights from others. I have researched a lot but nothing clear.

 

[James2774]

UK processors would obviously work for you if you had a uk Ltd.
And as far as stripe goes if you prefer them, can you not do something similar to the atlas program?
Can’t the uk Ltd Open a stripe?
Afaik they are subject to Corp tax so using the LLP/LLC would be your zero corporate tax route.

 

[Narco]

UK processors would obviously work for you if you had a uk Ltd.
And as far as stripe goes if you prefer them, can you not do something similar to the atlas program?
Can’t the uk Ltd Open a stripe?
Afaik they are subject to Corp tax so using the LLP/LLC would be your zero corporate tax route.

That’s a good option as well. Thanks for your input.

 

[kkein]

what advantages does UAE residency have these days, vs Malta, Cyprus, Gibraltar? Easier to apply ? easier to maintain? cheaper? easier for non EU? that is outside EU?

 

[Nicholas Van Orton]

what advantages does UAE residency have these days, vs Malta, Cyprus, Gibraltar? Easier to apply ? easier to maintain? cheaper? easier for non EU? that is outside EU?

OP, you won't get a better recap than the one you've posted through your questions, lol... well done...and also in very few words!

 

[NicolasMaduro]

In theory you are not allowed to open a Stripe account for your UK company when you have UAE residency. However,
if you make sure to keep KYC documents from your European, and open all the Stripe accounts you need, then you could just pass the KYC check early and then you should be good for a year or 2.

Only Stripe Atlas makes uneligible residency persons eligible for a Stripe account.

In regards to UAE, I presume it could work if you incorporate a freezone company with a residency visa, and then let this
freezone company be the holding company of a UK ltd.

However you are aware that just the starting cost is like 20-30k EUR in UAE? You have prepaid rent for like 3 months,
and then incorporation.

Then you have higher living costs, and like 7000 EUR yearly expenses just to renew your company license. A decent apartment in Downtown Dubai is like
5000 EUR per month. Food is also expensive. And to have fun is also very expensive.

 

[Narco]

In theory you are not allowed to open a Stripe account for your UK company when you have UAE residency. However,
if you make sure to keep KYC documents from your European, and open all the Stripe accounts you need, then you could just pass the KYC check early and then you should be good for a year or 2.

Only Stripe Atlas makes uneligible residency persons eligible for a Stripe account.

In regards to UAE, I presume it could work if you incorporate a freezone company with a residency visa, and then let this
freezone company be the holding company of a UK ltd.

However you are aware that just the starting cost is like 20-30k EUR in UAE? You have prepaid rent for like 3 months,
and then incorporation.

Then you have higher living costs, and like 7000 EUR yearly expenses just to renew your company license. A decent apartment in Downtown Dubai is like
5000 EUR per month. Food is also expensive. And to have fun is also very expensive.

I am ready to pay for a home in cash (Another way to get uae visa) and the living cost is below 5% of the taxes I would have to pay in EU.

I will have to research about stripe but there should be a way.

 

[ih8socialism]

Have you checked out PAYFORT ? Its a UAE Based startup which got acquired by amazon. Even RAKEZ uses it for their CC payments

Best Regards

 

[libicap]

Try checkout.com, they have services in the UAE. Had a call with their sales representatives and they confirmed.

 

[Narco]

Try checkout.com, they have services in the UAE. Had a call with their sales representatives and they confirmed.

Yes, but I still do not know which Freezone area I should go for, I have read many people that have difficulties getting a bank account.

 

[ih8socialism]

Yes, but I still do not know which Freezone area I should go for, I have read many people that have difficulties getting a bank account.

Keep in mind that you need starting by this year that you need to have economic substance

 

[Nicholas Van Orton]

Keep in mind that you need starting by this year that you need to have economic substance

Not entirely accurate, ESR only applies to certain activities, the 'relevant activities'...you gotta check whether your business is one of them...if not, never mind. ESR is only a boogeyman for those NOT in the know...

NVO