yes but i keep hearing without a rental lease agreement to show a bank -- getting that company bank account is unlikely nowadays.
I don't mind renting a condo there, but here's the problem -- I won't be living there.
And I hear in UAE you cannot sublet legally. So how do I use the apartment i need to rent there? I cannot live in it bc I will be living in another country most of the year.
And apparently I cannot rent it out to another to make back my money on it.
So it's just pure loss unless you are going to live in UAE/Dubai. If you're cool with living there -- I think the UAE company is an amazing deal -- best in the world right now. No personal tax, on corporate tax, no audits etc.
For those of us who aren't wanting to live there... I'm not sure UAE is best. It's still a strong option, but a tad complicated, because you cannot sublet your apartment there, and Dubai is not a cheap place to live and get apartments either.
stop hearing - start doing.
Dubai is your only option nowadays to get decent retail banking for an entity with 0% tax, no audit and bookkeeping requirements - if setup right.
If the above mentioned is your goal you can't find any single alternative.
Everything else is a mix of shell company on a small island together with some EMI or Puerto Rico / Belize / Dominica Bank.
Again to achieve the named goals - 0% tax, no audit, no bookkeeping.
This are not even the most important key facts about the Dubai Setup - the most important key facts are that you receive through the company formation a Residence Visa and decent Retail Banking - so you even have some security when it comes to reporting of your financial statements.
There is a reason why many people dumping US LLC's with Wise/Mercury banking or
Seychelles/Belize IBC's with some Lithuania EMI that is limited to SEPA. Back in 2017/2018 it was possible to get Wise for
Seychelles / Belize - since 2 years again this is over.
Most people are tired of switching the setups like there pants and that's why they tell themselves better to spend once a little bit more and have time to focus on business and other things in life.
You can't have everything for nothing.
Maybe in your case it makes sense to look into US LLC /
Seychelles IBC + EMI if you want to achieve the 0% tax rate.
Otherwise you have to forget about the 0% tax and setup a UK Ltd for 15£ and bank with Wise - for small figures maybe a solution you can consider but again 0% tax and decent retail banking? No way to get it except the UAE right now.