Opportunities for dual citizenship holders

[Davis123]

Do you have an idea what this would mean for banks and governments around the world? How many people are born in a place and study/live/work in totally different countries? This is a gigornmous amount of data to process.

Well I am told many times what is your country of nationality ? Your birth ? Your residencies? If you have 2 or more passports declare all your passports but why should it matter to them how many do you hold anyways ? They want to report you to your country of nationality too. ‍

 

[CaptK]

Why 30 days? Is that the unofficial limit for a tax residency certificate?

Yes. Depending on whether you company is freezone or fully incorporated.
Ajman is about 30days.

 

[CaptK]

Thank you for your input! Something like this? "That's also something I thought about. Go to an attractive EU location/non CRS country: get residency with the Italian passport, go to the local Italian Embassy and proof residency, request new passport. Then I have a Bulgarian / Puerto Rican address on my Italian passport for example Then I'm pretty sure the CRS won't kick in. However it's not water tight, cause I am still born in Belgium. So if they decide to share info to the place of birth I'm fucked. If they google me as well. I would also only use this setup for some personal investment, not to invoice my Belgian company. But I'm pretty sure it's not worth the risk."

And why especially UAE?

Why would a pass through entity be interesting in this case?

UAE is 0 tax on income. A state like Ajman where it is cheaper to rent than Dubai or Abu Dhabi. Set up and ongoing costs are cheaper.

When you are in Dubai you can just stay at a hotel or Air BnB. You dont have yo go to Ajman.

You can get a freelance license in Dubai but you are limited to what you can do. It allows you to open accounts and get residency. The cost is more expensive than an Ajman overall. Both will give you the tax certificate you require to shield you from the Italians, so they wont share that info on CRS and therefore Belgium wont know anything

 

[Davis123]

UAE is 0 tax on income. A state like Ajman where it is cheaper to rent than Dubai or Abu Dhabi. Set up and ongoing costs are cheaper.

When you are in Dubai you can just stay at a hotel or Air BnB. You dont have yo go to Ajman.

You can get a freelance license in Dubai but you are limited to what you can do. It allows you to open accounts and get residency. The cost is more expensive than an Ajman overall. Both will give you the tax certificate you require to shield you from the Italians, so they wont share that info on CRS and therefore Belgium wont know anything

Accurate info. Best is freelance visa which is less than 2000 usd if you go directly in person to Ajman. Rent a car use your phone GPS to guide you to Ajman free zone. Oh yes get a local sim by all means. Very easy. Wish someone had guided me years ago too. It was very easy to go in person as they all speak English

 

[CaptK]

Accurate info. Best is freelance visa which is less than 2000 usd if you go directly in person to Ajman. Rent a car use your phone GPS to guide you to Ajman free zone. Oh yes get a local sim by all means. Very easy. Wish someone had guided me years ago too. It was very easy to go in person as they all speak English

PM me please I have somehow deleted my messages.

 

[heaven]

UAE is 0 tax on income. A state like Ajman where it is cheaper to rent than Dubai or Abu Dhabi. Set up and ongoing costs are cheaper.

When you are in Dubai you can just stay at a hotel or Air BnB. You dont have yo go to Ajman.

You can get a freelance license in Dubai but you are limited to what you can do. It allows you to open accounts and get residency. The cost is more expensive than an Ajman overall. Both will give you the tax certificate you require to shield you from the Italians, so they wont share that info on CRS and therefore Belgium wont know anything

Interesting, thank you.

Accurate info. Best is freelance visa which is less than 2000 usd if you go directly in person to Ajman. Rent a car use your phone GPS to guide you to Ajman free zone. Oh yes get a local sim by all means. Very easy. Wish someone had guided me years ago too. It was very easy to go in person as they all speak English

So it will be 2000 usd + appartment rent arround 15.000?

 

[Davis123]

Interesting, thank you.



So it will be 2000 usd + appartment rent arround 15.000?

Apt rent is all dependent on the area (location it's all about location and $$) where you want to live at just like any other country. It you live in Ajman, apt rents for a studio (all depends on buildings, conditions etc as everywhere) are much much cheaper than Dubai but you will enjoy Dubai more as it's a very large city with lots of attractions (tourist spots are all unfortunately close down due to Covid-19 situation). I can't live anywhere else in UAE than Dubai no matter what the cost. Just google for rentals in Dubai or Ajman wherever you prefer. For a temporary stay use booking,com.

 

[Maitrey]

Dear all, please advise the solution for my wife where to set up the company with reasonable taxation having the following "advantages" (may be this are not the advantages at all).

She has two passports Ukraine and EU (Czech Rep.), the spelling of the name and surname is different in those documents.

After the start of the war we do not really want to return to UA and most likely will stay in the EU being its citizens etc.

How do you think? Will it be workable or not to form a company somewhere in Romania, Bulgaria, UK or elsewhere to work as intermediate in sale and purchase deals as UA citizen and resident, and in the same time leave and work in EU as different person who is not familiar with his Ukrainian colleague?