Hi,
I currently run an e-commerce dropshipping business which sells home lighting, and it has reached a point where I would like to incorporate and I am looking at offshore options.
I am a Cyprus citizen and tax resident, and was looking at incorporating in the Dubai freezone to benefit from the 0% corporate tax rate. I currently use transferwise to receive shopify payments and pay for goods from suppliers.
I had a few questions please:
1. Would I avoid paying corporate tax rate in Cyprus given that the UAE has signed a double tax treaty with Cyprus?
2. Will opening a corporate bank account in dubai allow me to continue processing payments and paying for facebook advertisements? ie. Will they be able to offer debit/credit cards? Is there an issue with pursuing dropshipping activities in the Dubai freezone?
3. Are there any other banking solutions I could use instead of opening a bank account in dubai? Could I use something like bankera?
4. Are there any reputable companies that offer incorporation services in the dubai freezone?
5. Are there any better alternatives for an offshore company?
Thanks!
I currently run an e-commerce dropshipping business which sells home lighting, and it has reached a point where I would like to incorporate and I am looking at offshore options.
I am a Cyprus citizen and tax resident, and was looking at incorporating in the Dubai freezone to benefit from the 0% corporate tax rate. I currently use transferwise to receive shopify payments and pay for goods from suppliers.
I had a few questions please:
1. Would I avoid paying corporate tax rate in Cyprus given that the UAE has signed a double tax treaty with Cyprus?
2. Will opening a corporate bank account in dubai allow me to continue processing payments and paying for facebook advertisements? ie. Will they be able to offer debit/credit cards? Is there an issue with pursuing dropshipping activities in the Dubai freezone?
3. Are there any other banking solutions I could use instead of opening a bank account in dubai? Could I use something like bankera?
4. Are there any reputable companies that offer incorporation services in the dubai freezone?
5. Are there any better alternatives for an offshore company?
Thanks!