Dubai vs Singapore vs Malta: Where to Set Up Your Online Business

Three Hubs, Three Strategies

Dubai, Singapore, and Malta each serve a distinct purpose in the global business landscape. Dubai offers zero personal income tax and access to the Middle East and Africa. Singapore provides a premium Asian business hub with strong IP protection and financial infrastructure. Malta gives you EU market access with an effective 5% corporate tax rate.

This guide compares all three from the perspective of an online business founder — SaaS, e-commerce, consulting, or digital services — looking for the best base.

Tax Comparison

Dubai: 0% personal income tax. 0% corporate for qualifying free zone companies, 9% mainland. 5% VAT.

Singapore: Up to 24% personal income tax (progressive). 17% headline corporate tax, effective rate lower for startups (partial exemption on first SGD 200,000 of profits). 9% GST.

Malta: Up to 35% personal income tax. 35% headline corporate tax, but effective rate of 5% after shareholder refund for non-resident shareholders. 18% VAT.

Purely on tax, Dubai wins for personal income. Malta wins for corporate tax efficiency (5% effective). Singapore has the highest tax burden overall but offers stability and credibility that can justify the premium.

Setup Costs and Complexity

Dubai: $10,000–15,000 Year 1 setup. Straightforward process, 2–4 weeks timeline. Government procedures are well-defined and English-friendly.

Singapore: $5,000–10,000 Year 1 setup. Company formation itself is fast (1–2 days), but the Employment Pass for founders requires a qualifying salary (currently SGD 5,000+/month minimum) and is increasingly difficult to obtain. Rejection rates for EP applications have risen significantly.

Malta: $8,000–12,000 Year 1 setup (standard company). Fast company registration (1–2 weeks). Banking can be slow. Licensed activities (gaming, fintech) add significant cost and complexity.

Dubai is the most predictable for a founder who wants to personally relocate. Malta is best if you need the corporate structure but don't necessarily need to live there. Singapore is the most competitive for hiring talent and building a team.

Banking and Financial Infrastructure

Singapore leads in banking infrastructure — it's one of the world's top financial centers. Major global banks have significant presence, account opening is relatively straightforward for properly structured businesses, and multi-currency capabilities are excellent.

Dubai has improved dramatically. Fintech options (Wio Bank, Mashreq Neo) have simplified account opening for startups. Traditional banking remains relationship-driven and can be slow, but the infrastructure is solid once established.

Malta's banking sector is adequate but limited. Fewer banks, longer processing times, and some banks are cautious about certain business types (especially crypto and gaming, ironically). Newer digital banks are filling gaps but Malta doesn't compete with Dubai or Singapore on banking.

Quality of Life and Practical Considerations

Dubai: Warm year-round, modern infrastructure, diverse international community. High energy, fast-paced. Great for networking. Cost of living: $3,000–6,000/month.

Singapore: Tropical climate, exceptional public transport, world-class food scene. Very safe, very clean, very expensive. Strict regulations on many aspects of daily life. Cost of living: $4,000–8,000/month.

Malta: Mediterranean climate, English-speaking, EU lifestyle. Small island (316 km²), heavy traffic, limited public transport. Affordable by EU standards. Cost of living: $2,000–3,500/month.

The right choice depends on where you want to actually live and work day to day. Visit before committing.

Which Is Right for Your Online Business?

Choose Dubai if: you want zero personal income tax, you serve global clients (not primarily EU or Asia), you enjoy city life and warm weather, and your business doesn't require an EU or APAC entity.

Choose Singapore if: you're targeting Asian markets, you need to build a local team, you value the strongest possible financial and legal infrastructure, and you can afford the higher cost of living and tax rates.

Choose Malta if: you need an EU entity for regulatory or market access reasons, the 5% effective corporate tax rate is a key factor, you prefer Mediterranean lifestyle at lower cost, and you're in gaming, fintech, or another regulated industry.

Vector operates in Dubai and Malta. For Singapore, we can refer you to trusted local partners. Our Relocation Readiness Audit helps you compare these options based on your specific business model and goals.