Dubai Freezone and any sort company registration not worth now ....Even they give some exception after "public consultation" ......As they broke 50 year tax free promise....I just lose faith on them....Yes Property Golden visa with personal tax free arrangement is still Good...
It is worst than Your First love/crush broke your heart...and make friendship with your enemy.........This "breach of trust" from UAE ruler is just unbearable for me
Still there is some structure available...
www.offshorecorptalk.com
I would argue thats actually a common salary for nominees (in oil industry, as UAE citizen)It will fall foul of UAE's GAAR.
I discussed it below why this is not possible.
UAE clarification of Freezone Qualifying Income
Yes, the only reason why somebody would move to UAE is 0% tax and no declarations/reporting Like St Kitts and Nevis just closer to Europe and normal city #Bingo! This is the correct answer! Once that "privilege" is off the table, so are we and anyone else with an IQ higher than room...
Not a chance of me "winning" against the same self-appointed unproductive gang members under the ruse of "government" whose income is derived from the taxes they collect from me.
Maybe in the business plan you had 50 million, but you had overshoot a bit, but bonuses still needed to be paid as you met the KPI-s. Plus you had a huge receivable from Somalia that you had to write-off due to unclear situation in the region, resulting in the business barely breaking even.
US LLC will be taxed in the UAE too.
It can be boring for some people
US LLC will be taxed in the UAE too.
What kind of territorial tax-free residency are you talking about? To maintain the residency status, you will have to live in those places = managing your company from there = the territorial system makes no sense because you're managing a company from that country = you're taxed.
The thing I don't like about the UAE is the Air quality and nature.
Most of my friends, including me, got bronchitis living in Dubai. I have asthma symptoms now.
So, every entrepreneur expat living in the UAE is sacrificing the most important thing you have - your health, in exchange for 0% tax, and now you will have to sacrifice your health + pay taxes living in the desert with powered on a/c 24/7.
Possible solutions:
- 0% corporate tax company + Perpetual traveler (if you don't hold citizenship of a developed country like Germany, UK, Australia etc, generally if your home country is not strict about it and have only 183 days test.)
- Cyprus Non-Dom status (no tax on dividends for 17 years), good air quality, nature
Other non-dom countries.
Monaco?
Is this common knowledge or do you have the right connections?
Well personally I think Dubai works better and different than other arab states. Dubai want to become one of the important global cities, but the problem is federal matters are controlled by Abu Dhabi, the emirate which is around 80% GDP of UAE. Dubai just have to obey big brother Abu Dhabi even at loss of reputation it made in last few decades.
And Abu dhabi has to obey big brother Fatf to get off Grey list.
I personally dont think Abu Dhabi cares about FATF. Oil money will flow even they are blacklisted, check Russia even after sanctions its oil revenue are flowing smoothly. UAE is just following its roadmap to diversify the income. In 2018 they introduced VAT, in 2023 they introduced Corporate Tax, in coming 5 years may be in 2028 they will introduce Income Tax. All these taxes will get them more money than they got from oil.
Do they realize they won't get more expats and that everyone is leaving now?
