I currently reside in Britan and want to start a business in the foreseeable future but their is many benefits to moving abroad. like Dubai where their is lower to zero tax and is more business friendly I don't know if it would be a good idea.
i want to move to another country to start a business. is it worth it??
byu/ChickenBitter1393 inEntrepreneur
Posted by ChickenBitter1393
5 Comments
Dubai is great to earn cash and leave, in reality it’s going to be your nightmare especially if you are from UK
The cost of living in Dubai is eye watering so you’ll need a lot of savings if you plan to move their without an income and start a business
I think that it would be helpful to know more about the business you are looking to open. Much of where you establish your business may be if the business has to have a physical location, will you be having offices with people physically at a certain location. I also do not know what limitations are you finding in Britain that are preventing you from opening up shop there? Once more information is known perhaps I can provide helpful feedback.
I have similar thoughts but I am trying to create a successful business over here first. Going over there and setting up from scratch would be an absolute nightmare.
Depends what your business is? Some industries are more developed in certain countries which makes networking and investment much easier. Britain is one of the most developed startup ecosystems in the world with access to financing, research and technology. There wouldn’t be much point at moving to start your business since you are probably in one of the best places in the world to start. Once you are making consistent profits then maybe you can think about relocating for tax purposes. Otherwise you might just be making it harder for yourself.
Ignore all the social media fluff about Dubai. It is not reality for the majority of people.