UK citizen with UAE company

[neverloggedin]

Hi,

I'm a UK citizen/passport holder with a company set up in a UAE-free zone. My business deals with global investments (non-crypto) (with countries e.g. Canada/New Zealand).

I'm looking to reduce my income taxes. I believe I don't have to pay any corporate tax since the company is in a Dubai Free Zone and I'm not the sole owner (shared with a Dubai resident who is a close friend). However once I withdraw money, as a UK resident I need to declare my taxes and UK taxes are pretty high!

I've been looking at few countries i.e. non-domicile tax resident in Cyprus and Portugal for it's NHR scheme.

I don't have too much preference on the company I'd like to be a resident of but ideally I don't want to stay too long in that country like Dubai - I don't want to be there long-term/more than 3 months.

I want to take most of my profits tax-free within 2-4y and then settle as a permanent resident in Australia (partner is Aus).

Any suggestions on how to reduce my income tax compared to UK's taxation laws would be greatly appreciated! Thank you in advance.

 

[CyprusBusiness]

Hi,

I'm a UK citizen/passport holder with a company set up in a UAE-free zone. My business deals with global investments (non-crypto) (with countries e.g. Canada/New Zealand).

I'm looking to reduce my income taxes. I believe I don't have to pay any corporate tax since the company is in a Dubai Free Zone and I'm not the sole owner (shared with a Dubai resident who is a close friend). However once I withdraw money, as a UK resident I need to declare my taxes and UK taxes are pretty high!

I've been looking at few countries i.e. non-domicile tax resident in Cyprus and Portugal for it's NHR scheme.

I don't have too much preference on the company I'd like to be a resident of but ideally I don't want to stay too long in that country like Dubai - I don't want to be there long-term/more than 3 months.

I want to take most of my profits tax-free within 2-4y and then settle as a permanent resident in Australia (partner is Aus).

Any suggestions on how to reduce my income tax compared to UK's taxation laws would be greatly appreciated! Thank you in advance.

Hello

A Cyprus company will be a good fit in your case.

The overall setup process is quite easy and with correct tax planning you can avoid CFC rules between Dubai - Cyprus.

My suggestion, you can keep the structure lean and operate through a Cyprus company alone in combination to acquiring personal tax resiceny. Your investment activity would be tax exempt as in Cyprus gains on trading financial instruments (with the exemption of Forex) is tax exempt.

Please let me know ifyou are interesred on this setup and we would be glad to send you a PM