Bitcoin Forum

Hi, i would like to advice you to open a company in UAE for bitcoin trading.

Very easy to setup your business and 0 tax fee.

You mean you want advice or you are giving advice?

If you are giving advice this is probably the wrong place to post

both maybe. i would like to know what people think and also recieve some advice also about the topic.

Well..

I know localbitcoins,bitcoin oasis and igot.com are exchanges that allow bank transfers to exchange to bitcoins in UAE

If you want to open another exchange in the UAE, I do not think this would be the best place to survey on interest.

I think that is the wrong idea, majority of people in UAE are not aware about bitcoin, as they are busy in spending their local currency and will not entertain bitcoins.

Most of the people were not aware of bitcoin and the digital currency, but this would get change when few years pass. Right now only few bitcoin traders are there in UAE, so starting a trading exchange will surely profit you.

I'm kind of far away from UAE and I don't even speak arabic,

I think it would be more expensive for me run a tax free business in UAE than run a tax heavy business here

If you have a good business in your country than you should continue with that and do not experiment with your investments, as the rules and regulations are very tough to follow in uae.

I think it would be tough to properly control a company, unless you have millions, from outside of the country. When you do have millions, you wouldn't really want to store them in Dubai because you then become subject to the Sheik and Emirati's. They are still building up their experience in that area - but things like debt law and no independent courts will work against you.

I have been to Dubai many a times and I am Asian and to be honest they don't respect Asians at all, I don't know why but they will support more Europeans and Americans so If you are either of two then you can go for it.

My best friend live in Dubai, and i asked him , how is bitcoin progress out there, and he said bitcoin here less developed if it compare to another country or continent, the only exchanger  that i know out there is just oasis, so i think it's a good plan to build an exchanger or perhaps atm bitcoin, that's gonna be awesome

That would only be great if you already know there are people willing to trade bitcoins or even there are people using bitcoin, i personally never heard from anyone from UAE that they are using bitcoins or they are aware of it, so if a place does not have any bitcoin users and you are opening a bitcoin related business there i don't think that would get much of a success.

Bitcoin isn't popular in rich arabic countries and trading company wouldn't useful. If you talking about registering of company which would only work online, it's also not very good idea. I think best countries to register business is Panama, Cayman Islands, maybe Singapore.

He isn't asking for advice he offering it to those who are interested. From the sounds of it.

Wow. Then that is a perfect place to build a business. Hope i have enough money to have some business there. If theres no that tax to be imposed by the government there. How this country still wealthy? I think there is still tax that they are imposing. But its very small percent of tax only. Is there a country that has no tax?