No accounting required company (outside EU) + Local bank account

[johndunham]

He needs a bank account


UAE is your best option

Yes, and he also does not want to do accounting, which would be impossible with a UK LTD right? Don't see why a UK bank account would costs 3 K, but I'd love to learn.

 

[Brillo]

This changes your options to a good extent

What do you mean ?

 

[KDX]

Yes, and he also does not want to do accounting, which would be impossible with a UK LTD right? Don't see why a UK bank account would costs 3 K, but I'd love to learn.

Probably all the substance, introduction fees etc.

 

[CyprusLawyer101]

What do you mean ?

I mean that your planning opportunities increase as you can benefit from the non dom provisions both for individuals and companies. Also this would give you protection from anti avoidance rules you would have to consider if you were Maltese resident and domicile.

 

[CaptK]

Probably all the substance, introduction fees etc.

Exactly, you require substance by way of proper office and not just an address with 20K companies registered.
Then additional paperwork to open an account as a non resident.

 

[Brillo]

But what about taxation with UK LTD (with my no-dom Maltese residence) ?

At this point we said: UAE but with local bank difficulties and...?
Thank you

 

[CaptK]

The UK company won’t make any profit

Banking in the UAE is easy so long as you provide the required documents. You just have to be patient.

 

[NicolasMaduro]

The UK company won’t make any profit

Banking in the UAE is easy so long as you provide the required documents. You just have to be patient.

BANKING IN UAE IS EASY?

WAIT WHAT.

This dude will not get a local bank account, but I'm looking forward to hearing about this.

 

[CyprusLawyer101]

Why the company must be outside EU and US. And why you do not want to prepare accounting?
If there is no valid reason for not wanting the above there are lota of good structures to work with but you must be willing to accept some of the burden.

 

[CaptK]

BANKING IN UAE IS EASY?

WAIT WHAT.

This dude will not get a local bank account, but I'm looking forward to hearing about this.

The process is simple it just takes time and patience.

If you know what the banks require and provide them all the documents they require upfront then you will get one.

The trick is not to go with a bank in mind but start with whichever bank accepts you. Build up a history and the after 3-6 months all the banks will open you an account.

His passport is not high risk, industry is not high risk and if he gets the correct set of documents together. He will get a bank account.

I’m in Dubai right now with clients opening their bank accounts.

 

[Brillo]

The process is simple it just takes time and patience.

If you know what the banks require and provide them all the documents they require upfront then you will get one.

The trick is not to go with a bank in mind but start with whichever bank accepts you. Build up a history and the after 3-6 months all the banks will open you an account.

His passport is not high risk, industry is not high risk and if he gets the correct set of documents together. He will get a bank account.

I’m in Dubai right now with clients opening their bank accounts.

just to understand, It will take 3-6 months to open a bank account? Note that company will be also new.

 

[CaptK]

just to understand, It will take 3-6 months to open a bank account? Note that company will be also new.

No bank account about 2-3 weeks.
Run that account and after 3-6 months you have bank statements to show all the other banks.

 

[tacokai]

Hello guys,
For reasons that I am not here to explain, otherwise it would take too long ... I need to open a company outside the EU.
This company is required to open a 2Checkout account only... below are the requirements:

1- Cheap incorporation
2- No accounting required
3- Outside EU and US
4- with the possibility to open a local bank account (mandatory because 2Checkout Payout can be done only to local banks)

Do you have any advice?
I wouldn't spend a lot because as mentioned above, it will be used only to open a 2Checkout account and receive some payments each month.

Thank you

you need to figure out which countries 2co is accepting! If they accept Dubai companies than it may be a good idea to go along with @Fred or @Gediminas to set this up.

Make sure you are able to open as minimum an EMI / Neobank account for this company!