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I Need Cheap Dubai Company, must protect money!

cameleon

cameleon

Mentor Group Lifetime
Jan 14, 2025
29
19
3
60
in the tropics
#1
I have one new problem now, friends... I need company in Dubai, but not one that cost me whole fortune, eh? I have only seventy thousand euro, I must move them into company, to make, you know, protection... from creditor!

Creditor is... how you say... other company, and also tax office.

Or maybe, you tell me, is better way? No company, but still make protection?
 
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#3
UK Ltd with imaginary friends appointed will do the trick, quick and nicely protected if done right.
 
#7
daniels27 said:
He has 70k EUR to protect. After 10 years of protection, the service beocmes obsolete.
Click to expand...
I just answering his first question in regards to Dubai.

Whether it’s worth it or not isn’t something I can comment on, that’s his own decision. It might also be that over the years he ends up with more money he needs to protect, in which case a Dubai setup could very well be worth it.
 
#8
I don’t think a Dubai setup will give you much protection against creditors. There are jurisdictions with better protection such as Nevis or Cook Islands that exactly work for these cases.

For an LLC the best jurisdiction currently is Nevis for asset protection. Cook Islands is more often used for trusts.

Nevertheless with such a low amount I doubt you will have many options for brokerages. You will be able to open a Currenxie account and maybe an IBKR account.
 
#10
As was mentioned here - buy crypto and put it in a cold wallet - email yourself the recovery key in an encrypted file or keep a ledger device with a family member or someone you trust. If you MUST keep it in fiat, you can look into an LLC somewhere that has charging order protection - like Belize, Wyoming, or I think Nevis too. This will make it very hard to touch. Belize specifically has interesting laws, making it very expensive to even *try* to recover the money due to the bond required.

https://lighthousetrust.ch/the-belize-llc-better-than-an-asset-protection-trust
 
#13
ecool said:
don't do this please. All cold wallets tell you loud and clear, not to enter your recovery keys into any computer
Click to expand...
There's no completely *perfect* place to keep any recovery key. If you use something like Protonmail, email it to yourself in a veracrypt container with a unique good password, labeled 'recipes' with a bunch of other text files containing recipes - who's gonna look?

What are the other options? On a piece of paper in a safe that a robber or police might force you to open or force open? Bury it and it turns out you didn't secure it enough against condensation?
 
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#16
Nigital Domad said:
I have a client in similar situation but he has 3M EUR. Any general advise (beyond what already offered here?) I was thinking to advice private banking angles or similar?
Click to expand...
Similar but very different. With that amount, you actually can afford trusts etc. You can easily pay 25k for the management of a trust each year.
 
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#19
cionide said:
There's no completely *perfect* place to keep any recovery key. If you use something like Protonmail, email it to yourself in a veracrypt container with a unique good password, labeled 'recipes' with a bunch of other text files containing recipes - who's gonna look?

What are the other options? On a piece of paper in a safe that a robber or police might force you to open or force open? Bury it and it turns out you didn't secure it enough against condensation?
Click to expand...
It's much easier than you think. Nowadays, I store my 24 word recovery key phrase in clear text on a piece of paper in three different locations, some of them pretty insecure, open to see for anyone that wants to take a look.

Sounds idiotic, right?

Well, not really. Losing the full recovery phrase is of much bigger risk for me, and I can't even memorize my phone number (my shirts have a longer lifespan than my SIM cards), and 24 random words in the right order are pretty much impossible to keep in mind for the long run (for me at least).

There is a very elegant option that makes all the worries go away, takes all risks away regarding storing the 24 words without other people having access to it, and you just need to remember ONE word/phrase/combination chosen by yourself. It also fixes the problem someone holding a gun to your head.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature
 
Last edited:
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#20
cryptofriendly said:
It's much easier than you think. Nowadays, I store my 24 word recovery key phrase in clear text on a piece of paper in three different locations, some of them pretty insecure, open to see for anyone that wants to take a look.

Sounds idiotic, right?

Well, not really. Losing the full recovery phrase is of much bigger risk for me, and I can't even memorize my phone number (my shirts have a longer lifespan than my SIM cards), and 24 random words in the right order are pretty much impossible to keep in mind for the long run (for me at least).

There is a very elegant option that makes all the worries go away, takes all risks away regarding storing the 24 words without other people having access to it, and you just need to remember ONE word/phrase/combination chosen by yourself. It also fixes the problem someone holding a gun to your head.

https://www.ledger.com/academy/passphrase-an-advanced-security-feature
Click to expand...
Ahh that is a nice option - I didn't know about that one. Thanks!
 
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