UAE crypto trading company with personal funds only. What are my options?

[blanco]

you dont need another tax residency if all you worry about is a southeast asian banana republic .
Just reduce time there.

Sure I could stay out of Thailand for 180 days, but it's not that easy for me and I need somewhere to withdraw to FIAT to pay for things.

 

[JackAlabama]

Sure I could stay out of Thailand for 180 days, but it's not that easy for me and I need somewhere to withdraw to FIAT to pay for things.

then no other tax residency will help you anyway either.

 

[blanco]

then no other tax residency will help you anyway either.

Does UAE share info like CSR?
I know UAE and Thailand has a DTT, however I haven't read it yet and I assume with lower taxes in UAE I would have to pay the rest in Thailand.

So only way would be an offshore bank in the Caribbean that doesn't mind fiat coming from a crypto exchange?

 

[JackAlabama]

Does UAE share info like CSR?
I know UAE and Thailand has a DTT, however I haven't read it yet and I assume with lower taxes in UAE I would have to pay the rest in Thailand.

Thats the road to bureaucracy hell you most likely dont want to go down.

 

[blanco]

Alright I'll just buy gift vouchers for my crypto then and do f2f cash

 

[RAGAV]

Yes, no limits, no reporting. That accountant went to many workshops about corporate tax and everywhere it was said that personal trading isn't taxed.

Also another friend's accountant said the same thing.

Though I'm still waiting for the government clarification, who knows accountants might be wrong. But what they say sounds promising.

In UAE, do we need any business license from any authority if we trade huge volumes (stocks, derivatives, futures etc) on US markets in personal account? [Main primary activity being trading, using personal funds and not providing any services to third parties]?

Or if we need to undertake trading as a business activity due to active involvement, do we need freelancer permit or freezone LLC business license? Which freezone and license is appropriate for active trading?

 

[jorge]

I just looked into this with an agent in Dubai and was told the following, as I was planning to follow the same setup myself.

If you're trading your own funds and not offering services to others, you generally don’t need a license in the UAE, especially if the trading is done via a foreign brokerage (like in the US).

But if you're actively trading as a full time business activity, it might be smart to look at a freezone license just to stay compliant. Something like a consultancy or general trading license (even if not used for clients) can cover you.

Check out DMCC, IFZA, or Meydan Free Zone, they’re popular and flexible with online activity.

 

[JimBeam]

Something like a consultancy or general trading license (even if not used for clients) can cover you.

I'm curious how it cover you? And against what?
Will this company now be your primary thing and stock trading something you do in free time?
Will you pay tax on your trading profits? If yes - how?

 

[zaybxc]

I just looked into this with an agent in Dubai and was told the following, as I was planning to follow the same setup myself.

If you're trading your own funds and not offering services to others, you generally don’t need a license in the UAE, especially if the trading is done via a foreign brokerage (like in the US).

But if you're actively trading as a full time business activity, it might be smart to look at a freezone license just to stay compliant. Something like a consultancy or general trading license (even if not used for clients) can cover you.

Check out DMCC, IFZA, or Meydan Free Zone, they’re popular and flexible with online activity.

Then it seems like the UAE is actively processing info received by local banks/exchanges, CRS info from the foreign ones and on-chain data of resident's crypto-wallets.

The UAE looks very confusing at the moment, everywhere around the web it's said that crypto is considered capital gain hence no tax if you trade your own funds; then there are agents like the one you enquired saying a different story...

 

[TheCryptoAnt]

I wouldnt overthink it much tbh, just incorporate in SVG/GI/etc and trade through that company; then pay yourself a salary and take dividends

 

[jorge]

I'm curious how it cover you? And against what?
Will this company now be your primary thing and stock trading something you do in free time?
Will you pay tax on your trading profits? If yes - how?

I'm just repeating what I was told by the people I consulted and what they sent me, so if it's not accurate, feel free to post here so I can follow up with them and ask more questions.

 

[Aston VIP]

You can setup a IFZA company and register with the activity "Investment in Technological Enterprises & Management" then do DIB as bank - Just ask

 

[jorge]

I wouldnt overthink it much tbh, just incorporate in SVG/GI/etc and trade through that company; then pay yourself a salary and take dividends

That works according to what I have been informed so far. Looking into an good provider og SVG companies.

 

[TheCryptoAnt]

That works according to what I have been informed so far. Looking into an good provider og SVG companies.

Wilfred seems to be it for what Ive seen.
Im considering doing this myself as I dont want to continue passing by Dubai every 6 months.

 

[undercover]

In UAE, do we need any business license from any authority if we trade huge volumes (stocks, derivatives, futures etc) on US markets in personal account? [Main primary activity being trading, using personal funds and not providing any services to third parties]?

what is huge volumes? wondering.