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Thanks for the all the answer, Patrick! FYI Dubai _actually_ allows you to set up a company there (like a startup) and issues visas for yourself.[1] The compan
by winter_blue 13y ago
Thanks for the all the answer, Patrick!
FYI Dubai _actually_ allows you to set up a company there (like a startup) and issues visas for yourself.[1] The company doesn't have to generate any revenue. In addition, there's no tax (corporate or personal) in Dubai, and the UAE in general.
It's a good option to consider if you want to live in a modern city without taxes (it comes with its own catches though).
[1] You generally apply through a free zone authority (e.g. DTMFZA). They require you to rent an office, and pay a license -- which can be expensive. But there are multiple free zone authorities in each emirate, and you it's possible to find cheap ways to set up a company & issue visas. The cheapest I've found is with the RAK free zone authority:
* The company license + rent = $5000 per year. You don't actually rent an office, but rather get access to a nice office for a few hours a week. This is useful if you want to meet clients in a nice setting (outside your home).
* A work visa - valid for 3 years, costs $2000. That's a recurring $2000 every three years.
Overall, it's a good deal due to the absolute lack of taxes. I haven't heard of a lot of startups in the Dubai area though.
- rmc 13y agoIt's a good option to consider if you want to live in a modern city without taxes (it comes with its own catches though). It's not modern in many regards though. Homosexuality is illegal. Sex outside of marriage is illegal (if you get raped and report it to the police, you can be arrested & tried for having sex outside of marriage, if you kiss your different-sex-date in public, you can be arrested and fined). Alcohol is very legally restricted. etc. I haven't heard of a lot of startups in the Dubai area though. The cynic in me thinks it's due to the socially conservative environment. As Paul Graham said ( http://www.paulgraham.com/siliconvalley.html http://www.paulgraham.com/siliconvalley.html ): That's the connection between technology and liberalism. Without exception the high-tech cities in the US are also the most liberal. But it's not because liberals are smarter that this is so. It's because liberal cities tolerate odd ideas, and smart people by definition have odd ideas. Conversely, a town that gets praised for being "solid" or representing "traditional values" may be a fine place to live, but it's never going to succeed as a startup hub.