Recent content by ironhide

Currenxie and 250k USD transfer worked fine for my Dubai company. But I'd talked to support before money arrived, just in case.

The bank sees the transactions. I don't know is there any cooperation between banks and tax authorities regarding this, so I have doubts.

I’m thinking about going for a Small Business Relief. Can redirect payments and get revenue for FZCO under 3M AED in 2024. However, the previous period revenue was higher. But since the first tax period will be in 2024, maybe it’s not a problem. What do you think? Is this a valid approach?

Thanks a lot for your thoughts and suggestions!

You're right, two companies come with extra cost and extra headache. But in our case, my partner wants to live in UAE, and I want to live in Europe. And the Andorra-UAE bundle makes sense because savings on dividend taxes will cover setup expenses. Does this mean that if Dubai company pays 0%...

Seems like yes. The company provides IT services (out of the list of substance-regulated activities). Also, my partner lives in the UAE, so it's not like I'm using this company only to lower my taxes. But I'm holding 50% of the shares and maybe it hits CFC and I'm missing something? It's true :)

Hi all, I have an Andorra residency and operational company in UAE. Planning to set up a holding company in Andorra to distribute dividends from UAE company. Found this info: Since Andorra has DTAA with UAE, it seems like it is possible to pay 0% tax in Dubai, distribute dividends to Andorra...

Hi all, I have an Andorra residency and operational company in UAE. Planning to set up a holding company in Andorra to distribute dividends from UAE company. Found this info: Since Andorra has DTAA with UAE, it seems like it is possible to pay 0% tax in Dubai, distribute dividends to Andorra...

I opened a Payoneer account for Dubai FZCO in August, everything works fine so far. Tried withdrawal to a Dubai company's bank account — worked fine, but fees are brutal 2% (you can get 1% for 200k $ monthly turnover, 500k - 0.7%, 1M - 0.5%). As for withdrawal to a private account, I plan to use...