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azb1

Mentor Group Gold
New Dubai Work Remotely Visa seems interesting:

1 year validity, US$611 cost (on the official Visit Dubai website), gets you Emirati ID (=banking).

“Applicants will need the following:
1. Passport with a minimum of 6 months validity.
2. Health insurance with UAE coverage validity.
3. For employees: proof of employment from a current employer with a one-year contract validity, a minimum of US$5,000 per month salary, last months’ payslip and 3 preceding months’ bank statements.
4. For business owners: proof of ownership of the company for one year or more, with an average monthly income of US$5,000 per month and 3 preceding months’ bank statements.”

Any downside ?
Living Cost of Dubai is High. compare to other , Otherwise It is heaven.
 

Piano

Active Member
Unfortunately no to both questions. I have never visited CV. It was on my bucket list before the world got crazy, and now I have other concerns. On the surface it looks interesting; several diverse islands, great Canaries-style weather year-round (except some sandstorms in southern islands). The language situation is not that good. I've heard of good and bad experiences from travelers.

It is not a tax haven, and they only have tax treaties with Guinea-Bissau, Macau, and Portugal... There's a good summary of the tax situation at PWC website. There's this gem though (individual taxation):

Category E: Capital gains

Capital gains earned by individual taxpayers are subject to a flat rate of 1% in the case of gains on the disposal of immovable property, intellectual property, or shareholdings. A flat rate of 20% applies in the case of gains on gambling, lottery, betting, prizes awarded in sweepstakes, or contests.
What about gains made trading stocks, forex and futures , CFD’s ?
 

Piano

Active Member
So for the time you reside there on this VISA you are considered tax resident there ?
your home country where you reside and pay normally your taxes , will accept this ?
 
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bizniz

Active Member
First, it's not really clear what country you are referring to? Dominica? Croatia? Others?

As for whether your home country will accept it - how could anyone possibly comment on this without knowing your home country and your individual circumstances? Each country has different rules!!!
 

Verbatim

New member
Sorry to spoil the party but in many of these programmes you specifically DO NOT become a tax resident of the country, despite staying 183, 360 or plus days there.
 

Piano

Active Member
Sorry to spoil the party but in many of these programmes you specifically DO NOT become a tax resident of the country, despite staying 183, 360 or plus days there.
But you are free from taxes for the period you stay there ?
 

Verbatim

New member
But you are free from taxes for the period you stay there ?
i would assume you pay local taxes for local income - if there aren't any, then no taxes. Whether the specific programme exempts you from local taxes - that i do not know.
 
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