Help with offshore companies

[hat24]

Hello guys,

I always tried to do things on my own and sometimes that was not a good idea because I stuck with some issues.

I am tax resident in Romania and have 1 company here.

I have also a RAK (UAE) company and an USA Wyoming company.

I have 3 online stores selling digital products online (so not physical shipping). Currently operate only in Europe but want to expand globally.

I was thinking to shutdown my business in Romania and open a new company in Cyprus (I also speak Greek).

My questions (any information is welcome):

For RAK:
1. How can I get an UAE mobile number without be a resident there. I am unable to open a bank account in UAE without mobile number and visa. Stipe does not allow me to setup an account without UAE Bank Account (I have Mercury and Payoneer now)
2. Should I use this company to hold the assets from Europe company? I mean to distribute the profit from EU to UAE company (with invoices) and then withdraw the money or pay for any services in Romania (electricity, food etc) with my UAE card from Mercury or Payoneer?


For Cyprus:
The main reason I want to open a new business there is because I am tired of the accountants in my country, they have become very expensive and they doing a lot of mistakes, the bureaucracy in Romania is very bad and time consuming.

1. Should I open a new business in Cyprus (I need Europe presence) and close my company in Romania? What are the benefits?
2. Does Cyprus companies required to have accountant? Or can I keep the books myself with an online app like QuickBooks and only pay an expert accountant to fill the annual revenue once per year?

Do you have any suggestions to setup a good business structure to be legal and avoid too much taxes? How will access my assets in the offshore companies without paying dividends in my tax residency?

Thank you

 

[extragravant]

Before answering these questions, you should start questioning about your tax residency, center of interests, and from where these businesses operate. You definitely need a better planning, and you may consider talking with a tax consultant first.

 

[Propeller]

Create substance for your company if you want to avoid troubles with your local tax office. I know it's in Romania and you may be able to fix that with some money under the table, but still.

Have you tried this service for UAE virtual phone numbers https://tollfreeforwarding.com/virtual-phone-number/uae/

 

[bountymounty]

You should upgrade to mentor group gold and read this huge article from 2025 which they release there, it can help you achieve setting up a offshore company with banking and explains in details from A-Z what to do.

https://www.offshorecorptalk.com/th...nts-in-2025-plus-a-quick-guide-to-help.47250/