- Have you heard of actual stories of people who have a company through which they receive a salary failing to procure the tax residency certificate? What do you mean by fake company exactly? If the company is capitalized and is paying a salary to its employee that should suffice, right?
If you get a local sourced salary you do comply with the requirement to get the tax residence certificate, I was meaning if the company stay dormant.
By fake company I mean, if you are a professional day trader or a crypto trader and open a license to sell toothbrush or a consultancy company, but insterad of it only trade crypto throught your company, that does not fit the real purpose of your setup and I imagine at a point you necessarily need to lie to the bank. That's why instead I thought about a financial freezone which let you trade some stocks on traditional markets, and maybe keep the crypto as an individual. However I didn't see a consultant who advice to create a real financial freezone.
- Don't the laws on corporate taxation take affect in the second semester of 2023? In other words for 2022 you are not liable to any corporate tax. This is per the government website.
Right I read here and there is start on 1 july 2023 or 1 jan 2024 depending some company time features
- Even after the laws take effect in 2023, you will still be able to enjoy tax free gains in the UAE as long as you don't trade frequently. I guess the government is saying is someone trades frequently, they should set up a UAE crypto company for 0% tax rate, accept the 9% tax rate or leave.
It seems really complicate now to create a crypto company for trading crypto.
So there would be two methods to trade in Dubai, either throught your FZ, either keep it as an individual, interesting to know the consequences in terms of tax of this choice :
1)suppose you trade crypto throught your financial, or crypto company, from Dubai from your office or dubai flat, on locally VARA licensed UAE platforms like binance, isn't it gonna be considered as a local business within UAE and subject ANYWAYS to the 9% tax ?
2)As an other way, as we raised this question elsewhere, if you keep it as an individual but trade crypto or other markets as a professional from Dubai, isn't it gonna be requalified as a commercial activity and de facto subject to the 9% new tax ?
Do you refer to moving to Dubai or to opening a Dubai company and trading remote from other place? Because if it's real moving to Dubai from what I heard I am quite certain it's 0%. And not sure about future uncertainty but I doubt it as all biggest crypto traders/youtubers live there, there are even rumors Binance's CEO will be moving there.
I sent you a PM