Ideas Business Setup

If you fix the LLC (US I guess) issue you will be good.
If you got rejected by banks it’s either because:
a. Your business is not acceptable. Solution: use a front.
b. The LLC is not properly setup or presented. Solution: review it and make it good for banks.

Morpheus said:

Hi guys, I hope you have any input for me, I’ll try to describe my situation, grateful for any input!

Current situation:
- Living in the Caribbean
- Setup all in Dubai
- receive money in wires between 3 & 10k€ from clients within Europe or from UAE

Want to change my setup / or at least built up a second setup, in case Dubai gets worse (currently works perfect for me but there are so many changes nowadays, especially in Dubai … you never know).

Only looking for business formation + business bank that runs smooth and won’t be frozen every couple of weeks or months, not privat bank accounts, there I am fine.
——
Residency will be Paraguay, wanna do this like forever but it feels useless before I have a clear idea where my business will operate, so I keep postponing this for … 6-9 months now.
——-
I set up 2 LLCs, unfortunately basically all Banks/Emis got denied, so not an option.
——
Looking for a destination with no/territorial income tax + tax excempt for services fully performed outside of the country or a very low VAT. Ideally not the most complex tax filing requirements on earth.
——
I saw Panama offer in a different forum and was about to do it but reviews were not that great so I stepped back, even though it sounds exactly like what I would need, but also don’t wanna „burn“ 7-8k$.
——
Setup does not have to be CRS/OECD safe, that’s fine.

Any idea? Any questions?
Oh and having a European passport.

Thank you in advance guys!

Do you speak Spanish?

Morpheus said:

unfortunately basically all Banks/Emis got denied,

Welcome to my club! I'm +95% crypto now! Using Credit/debit cards with crypto as back end.

I think that if you can resolve the banking issues associated with your LLCs, you’ll have a solid setup, especially when combined with Paraguay.

Most problems arise when you use a mailing address that already has too many other addresses registered to it. Paying a little more and using a smaller-scale service can help.

I hope you don't mind me going off-topic with this question, but could you tell me which EMI or bank you use for payments from the EU to your Dubai-based company? I am still looking for a SEPA provider that works decently.

Morpheus said:

Can you recommend a service provider for a „good adress“?

Check this: Another U.S. address provider - savvynomad.io
You can also talk with @Rick and @Mercado4

Morpheus said:

Thank you for the input buddy! I think savvy nomad only has adresses in Florida, not sure if that works for Delaware/wyoming and wanna avoid Florida for the sales tax of 6+ % if somehow possible

You just need a random address for the bank! Not to setup real operations there

Morpheus said:

Oh, you mean I can give the bank a completely different adress in a different state where my company is registered at? I was expecting this would cause lots of issues tbh.

No problem with that