Offshore setup ideas

[Fred]

BVI is better than UAE in some cases. Depends on the business. Don't forget UAE is a sharia law country.
Also is safer to park assets in BVI company than UAE I think. I wouldn't keep my assets in UAE banks. I understand you are consultant of UAE matters, but UAE is not always best choice

I think I have mentioned it several times the UAE banks are good for the retail banking and once you have 2-3M you go the DIFC and have a conversation with all the big banks that are located there.

When it comes to operating a business with retail banking and day per day transactions the BVI is simply not usable as they don't get any normal retail banking in reliable banks. That's why I mentioned the BVI is still good for Asset Protection and Wealth Management after you made your money.

 

[Fred]

I was not talking about running costs, I was discussing the cost of having substance in UAE (for the most part, an office and a legitimate director).

The office is included in this price and that's what the banks in the UAE want to see as substance.

Everything above is personal requirement like need of having a director sitting in the office to Bank with foreign banks like CIM Bank but beside of this the above mentioned for 4.000€ is all you need to have to satisfy the local banks.

 

[Roamer]

The office is included in this price and that's what the banks in the UAE want to see as substance.

Everything above is personal requirement like need of having a director sitting in the office to Bank with foreign banks like CIM Bank but beside of this the above mentioned for 4.000€ is all you need to have to satisfy the local banks.

The original poster said he needed to hire somebody locally to be (read seem) legit to his home jurisdiction, UK. I understand you push UAE whenever you can but let's make it make sense to the OP. And yes, UAE is awesome and if he can afford somebody competent locally then he probably should, but skilled workers (let alone directors) in UAE are not cheap and with the figures OP has thrown around initially, it just won't be worth it.