multiple residencies

[lonizzita]

Hi everyone
what are the disadvantages of having multiple residences?

For example if I have 2 residences 1 in EU and 1 in UEA.

EU residency I use it only for EU market: so personal accounts and companies in EU

Whereas the UEA residency I use for personal accounts and companies in the UEA

is this legal?

Of course, I think, I should be careful not to exchange money between the 2 private accounts with different residences.
And i think I will always have to omit the other residence for declarations as well

what do you think?

thank you

 

[troubled soul]

You can have as many residence visa as you want....The real Issue is tax residency.......

 

[zzzzzz]

Of course, I think, I should be careful not to exchange money between the 2 private accounts with different residences.

Are there any problems if you transfer money from EU account to UAE account (or vice versa)?

 

[Martin Everson]

what are the disadvantages of having multiple residences?

Just double the paperwork really.

is this legal?

Yes

what do you think?

Bad idea