This is certainly a legitimate choice, with the potential to offer many benefits. However, it is also a step that requires careful consideration and, above all, awareness.
Whether for personal or professional reasons, internationalisation or relocation is not simply a matter of changing your address or setting up a foreign entity; it means adopting a new paradigm and dealing with different rules, mentalities and dynamics that are often far removed from what you are used to.
According to recent statistics, the most popular jurisdictions for setting up a business today are the United Arab Emirates and Malta and Romania, with Portugal ranking slightly behind but still attracting a good level of interest.
Examining the first two jurisdictions, despite their geographical distance and significant differences, we can see that the reasons behind their appeal are largely the same. Both are jurisdictions where public administration is efficient, with low taxation, a business-friendly environment, good security, modern infrastructure and a pleasant lifestyle that balances work and personal well-being.
All of these factors are undoubtedly appealing. However, as is often the case, every advantage carries risks, constraints and critical issues that deserve careful consideration before making any decision.
In fact, while both are welcoming ecosystems for international entrepreneurship, they are by no means 'unregulated' jurisdictions. On the contrary, they are orderly, structured systems that reward serious, methodical work, but do not tolerate improvisation or violations of regulations.
This is particularly worth highlighting in relation to Dubai, which is shrouded in many myths. In reality, however, it is a highly professional and sometimes complex environment that offers great opportunities, but only to those who are prepared to tackle it properly.
The real issue is often not the business idea itself, but the approach taken to implement it.
People often think that setting up a company and opening a bank account is all there is to it. In reality, however, these are merely intermediate technical steps in a broader process whose ultimate goal is to create and manage a coherent, sustainable operational structure.
'Structure' refers to a functional, coherent business system that considers objectives, the business model, governance, compliance, day-to-day operations, and long-term sustainability.
This entity must be studied in the context of the interrelationship between corporate, tax, labour law, contractual and any other potentially relevant elements, not least successors, in order to build an efficient, solid and lasting machine.
Careless approaches, on the contrary, increase the risk of finding oneself in a situation where every ordinary event could turn into a structural problem.
Such conditions are sometimes a direct result of searching for solutions that respond to one's desires with ease and without effort or complicated reasoning.
While these offers may seem attractive, they often fail to consider many fundamental aspects, thereby exposing the client to errors, legal vulnerabilities and unexpected costs.
Starting a business abroad, with all that this entails, requires careful preparation.
The first step is to analyse the business model to define its context and objectives. This is followed by a tax assessment from personal and corporate perspectives to ensure consistency with the business plan, bearing in mind the potential impact on the private sphere.
Next, the most suitable jurisdiction must be chosen, along with the type of corporate vehicle and its structure, and shares, roles and responsibilities must be defined. Realistic economic and financial planning is also crucial, taking into account the available budget, expected cash flows and cost structure.
It is also advisable to secure the appropriate professional, legal, accounting and tax support in advance to ensure effective governance, keep the structure in line with objectives and quickly address any regulatory or operational issues that may arise over time.
This approach is useful and advantageous for both self-employed freelancers and more structured businesses, whether they are in the process of being set up or are already operational.
Periodically reviewing your structure to confirm the validity of your choices or take action where necessary is a winning strategy.
Acting in advance gives you the opportunity to prevent potential problems and avoid the need for urgent intervention, which can be complicated, costly or even impossible when correcting certain errors.
Opportunities and solutions abound.
It is your choice that makes the difference.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
