Monaco 'on the cheap'....

[boy20hki]

Yes - I agree with what @Konstanz mentions and have the real life confirmation from a very few clients living in Monaco and running a FZCO with us in Dubai.

That means they need to stay in MC for at least 6mo & Dubai for at least 3 mo, correct? In that case they technically have tax residence in both countries, legally speaking? Seem like perfect high end setup, can fly easily as they are not far from each other.
Do they need to pay monthly fee for renting any office/desk in Dubai?

 

[Fred]

That means they need to stay in MC for at least 6mo & Dubai for at least 3 mo, correct? In that case they technically have tax residence in both countries, legally speaking? Seem like perfect high end setup, can fly easily as they are not far from each other.
Do they need to pay monthly fee for renting any office/desk in Dubai?

No - they come every 6 months for 1 day to Dubai as they don't require a Tax Free Residence in the UAE as they have it already in Monaco.

I wouldn't bother with Monaco without having 30m$ net worth and even then you are on the lower end when it comes to wealth.

 

[sergeylim88]

@Fred
thank you for the confirmation
you are always a great source of useful information

 

[koohl]

Do they need to pay monthly fee for renting any office/desk in Dubai?

Where in this world are you able to rent anything without paying your monthly fee?

 

[boy20hki]

Where in this world are you able to rent anything without paying your monthly fee?

Sorry for my wording...I meant if maintaining an office/desk is mandatory for a Dubai FZC while UBO is living in MC, of course renting anything is not free

 

[Konstanz]

Sorry for my wording...I meant if maintaining an office/desk is mandatory for a Dubai FZC while UBO is living in MC, of course renting anything is not free

You should check on new substance requirements in UAE.
This year will be many changes
But you don''t have to be in UAE yourself.
I myself also have company in UAE, but I don't live and don''t have office in UAE at the moment.

 

[sergeylim88]

what about PE rules in Monaco?
do they exist?
@Konstanz

 

[boy20hki]

what about PE rules in Monaco?
do they exist?
@Konstanz

I guess MC don't care
Because MC does not tax on personal income
Also people moving to MC mostly owning and managing offshore business from inside MC, so PE does not make sense otherwise they won't move to MC in the first place.