Receiving a good dividend soon from my French company - How to exit quietly ?

[SasuT]

Hello,
Closed my French company, now I'll receive an exit dividend soon. I'll play taxes on that, no problem.

The thing is, I moved to UAE, France probably knows about it, maybe not, it depends if my bank in UAE reported it or not. In fact, I don't care, but I prefer being discret.
Now the question is regarding the dividend; I'll receive it on my Wise Personal account. But I don't want to keep it here. I want to move the money to my UAE personal account.

But :

- is Wise ok with that ? I heard they have problem with big transfers specially to UAE
- France will probably know that I'm in UAE and I have bank accounts here then

I thought about alternate solution, for example

Wise Personal -> Currenxie (hong kong bank) -> UAE personal

Problem here is that currenxie account is a business account, not personal.

Anyway I'm a bit lost and don't want to do anything bad. I insist, I don't really care if France finds out about my situation in UAE, but I feel like they'll go after me because I exited France to go to UAE. Even if I paid all my taxes before leaving.

 

[Martin Everson]

Why not send it to UAE personal account then. You said twice in your post you don't care if France finds out your in UAE so whats the issue.

The thing is, I moved to UAE, France probably knows about it, maybe not, it depends if my bank in UAE reported it or not. In fact, I don't care, but I prefer being discret.

I don't really care if France finds out about my situation in UAE

 

[SasuT]

Why not send it to UAE personal account then. You said twice in your post you don't care if France finds out your in UAE so whats the issue.

I personally don't care, but from what I read in this forum I apparently should be careful and discret about that, specially if I moved from France straight to UAE. So that's why I'm asking.
Is it fine if I just make a transfer like that from France to UAE ? Or might trigger something? (UAE is in France's surveilled countries list)

 

[Martin Everson]

So basically you do care otherwise you wont bring it up...lol. When it comes to France if the money is already taxed you are getting it is capital. If you are not considered tax resident in France then their is no issue. Unless you feel they could still consider you a resident under tax treaty, centre of interest or other?

If amount is substantial get professional up to date tax advice

 

[SasuT]

So basically you do care otherwise you wont bring it up...lol. When it comes to France if the money is already taxed you are getting it is capital. If you are not considered tax resident in France then their is no issue. Unless you feel they could still consider you a resident under tax treaty, centre of interest or other?

If amount is substantial get tax advice

Yes exactly, for example if they say to me "you received a big dividend from France this year - bigger than your UAE business income - you're french tax resident".
Even if I have nothing left in France, and that the dividend received is from a closed company.

To be honest, at first I wasn't worrying about this stuff at all, but the more I read this forum, the more I became paranoiac and now I'm asking myself those type of questions lol

 

[Martin Everson]

Yes exactly, for example if they say to me "you received a big dividend from France this year - bigger than your UAE business income - you're french tax resident".
Even if I have nothing left in France, and that the dividend received is from a closed company.

To be honest, at first I wasn't worrying about this stuff at all, but the more I read this forum, the more I became paranoiac and now I'm asking myself those type of questions lol

You need to read carefully the text of the DTA between France and UAE. It may only cover UAE nationals and not you. In worst case your screwed if France wants to come after you .

See below thread...

UAE Tax Treaties only for UAE Nationals?

I've been reading some of the Tax Treaties signed between the UAE and other countries and I'm surprised to see that in many of them the definition of "resident individuals" only seems to include UAE nationals. Here are example extracts from some of these treaties defining what is a "resident...

www.offshorecorptalk.com

 

[jafo]

If you are NEVER returning to France and there is NO way to find you in France, why worry?

If anyone asks, tell them you spent 90% of your money on hookers, cocaine, and booze...the rest you wasted!

*AND* now you are looking to move to a country that will provide you with free housing, free medical (expensive cancer treatment), and free food because you are penniless and homeless.

 

[Juleski70]

What's not clear in your post is whether you exited France properly when you moved to UAE. Are you French? Did you declare yourself as a non-resident for tax purposes and pay exit tax? Or did you just leave and stop fiking your personal tax returns?

If you paid tax on your dividend and you're officially not a tax resident, doesn't sound like there is much to worry about

 

[Percy]

" Even if I paid all my taxes before leaving."

It sounds as if he did settle his tax affairs. Your situation sounds more complex than you are letting on. Get processional advice.

 

[wellington]

What's not clear in your post is whether you exited France properly when you moved to UAE. Are you French? Did you declare yourself as a non-resident for tax purposes and pay exit tax? Or did you just leave and stop fiking your personal tax returns?

If you paid tax on your dividend and you're officially not a tax resident, doesn't sound like there is much to worry about

The French pay an exit tax? have to declare they are non resident?

Why oh why is the UK the only 'free country' in the West.

 

[Juleski70]

The French pay an exit tax? have to declare they are non resident?

Why oh why is the UK the only 'free country' in the West.

Just the usual capital gains on stocks, etc... I believe it's treated as if you sold them on the day of departure