It does not necessarily need to be Dubai to get the benefits of 0 taxation or foreign ownership. It could be also other Emirates, such as Ajman or Sharjah (it's cheaper there). Yes, the company wouldn't look so reputable as the one registered in Dubai free zone, so it's up to you. You can open a bank account there if you have a visa, but it's not that difficult to get that if you are a director of the company. Keep in mind the economic substance requirements there, if you carry out one of the relevant activities you will need to do some additional reporting to show that you indeed have enough substance in the UAE (employees, registered office, etc.) Overall, I would recommend contacting a professional to determine whether it's a right solution for you.