Recent content by RAGAV

Does it allow the director active participation in daily operations of the company (that has zero employees) and receive dividends? Asking this question because the dividend here is a result of active effort rather than passive income.

Have a doubt. If profit is 100 USD, and we decide to distribute entire profit as dividend, tax will be 20 USD. Am I right? Remaining 80 USD will be distributed as dividend which is tax free for residents. That means, tax percentage is 20/100 = 20%. Am I missing anything?

Thanks. I will contact them. Are the law firms liable for any legal immigration paid advice they give? Or can it be used to defend ourselves in case immigration authorities find any violation of permit rules?

I am an Indian citizen interested in getting a pink slip to move to Cyprus. It does not give me the right to work. Can I start my own company in Cyprus (with myself as sole shareholder and director) and be actively involved in daily operations? Can I pay myself in dividends every year after...

There is nothing special with Indian passport. In India, banks open account only when the individual visits the bank branch with all ID and address proofs. So I thought I would need a local address proof for these banks that you listed. Also, someone in this thread suggested if I get a Europe...

Have a question related to these banks. Will all/(some of) these banks accept my UAE residence proof for opening non-resident bank account? Would I need to make any visits or need any kind of visa to open the bank account? IBKR is a securities broker, not a bank (if I am not wrong). My...

If your profits per year are 100 USD, how much is your tax liability?

Yes, both of you are right. I am just reporting what I observed from India. The two Swiss banks did not reject other nationalities but displayed a message that they are Swiss regulated. Copying the text from sygnum. " If you are not located in Switzerland, please read below. This website and...

Thanks for your post. I found lot of websites and articles listing approximate LLC license cost in range of 12 K to15K AED per year. So, I wanted to check if any suitable freezone license can be obtained in that price range. My main concern was around compliance in terms of my activity being...

Thanks for your response. Yes, active trading is very different from holding shares. I am not worried about 9% tax. So, any freezone like Meydan or others (in Dubai) that allow holding shares as an activity should be acceptable, right? Can you suggest few reputed options at less than 20K...

Hey A1988, I am interested in moving to the UAE to trade (stocks, equity derivatives, futures, options) on US and Europe exchanges using my personal funds. My trading style is very active and involves lot of transactions daily. I am an Indian citizen so would need a residence visa to move there...

I will check with other UAE based traders. As you mentioned in another post "how will they even find out", my broker (Ex. IKBR) might report my yearly profits or total balance to my country of residence (Ex. UAE) as part of CRS. Then, it is anyone's guess what they might do with that information.

Thanks for your post. Out of the list, IBKR is a broker and not a bank. Sygnum and Aminagroup seems to accept only Swiss residents to open an account. Could not open the swissquote website. Let me try the others. I will become a non-resident of India (NRI) once I stay outside India for more...

For full time traders trading from UAE in their own personal accounts with personal funds, (stocks, equity derivatives, futures, options), do you think a license is required for this? Do any of those traders that you know have an explicit license for this? With your offshore corporation, what...

I wanted to open a bank account in a foreign country (other than UAE) to transfer funds/receive funds to/from IBKR. I don't want to use my Indian bank account directly to fund IBKR or receive funds from IBKR in it directly when I am no longer a tax resident in India. That is the reason, in one...