I am looking to invest in art and want a low budget solution as I don’t want to expend too much of my initial funds. These investments are intended for the long term.What is it you want to invest in? Why do you need a low budget solution? is this short term investment?
What other solution would you recommend? What would you do if you were in this situation?Sorry, but for a long term investment of your hard earned money you want to use a fragile ground!
As you whish, if so, I would simply go for a Seychelles company, it's less then 600 euro and can be done within a day.
I will second this with a small addition - I would recommend finding an international consultancy firm that could look up your case on a global scale.If it is 100K euro a cheap solution like the suggested Seychelles, Belize etc. is sufficient if you have millions available I would consult a lawyer or professional consultancy firm say in Cyprus, Switzerland or even Delaware / Wyoming.
I think you want to buy art with your offshore company, so your real identity keeps safe from burglars and so on. Well as our Admin says, Seychelles could be a choice but to be safe, you would need to send your payment through an offshore bank account in the name of your company as well. This could reveal your identity by CRS every 31.12. to your local tax authority. But well it depends where you live.I am looking to invest in art and want a low budget solution as I don’t want to expend too much
Not so fast, the UAE has a more complex system of different kind of entity types.You live in the UAE and still not satisfied to pay what ever you may pay there in taxes? I thought it is almost 0% taxes so what's the wrong there?
Don't forget there are Trusts and Foundations. The latter might be actually more suitable for the OP.Not so fast, the UAE has a more complex system of different kind of entity types.
The local companies: Low-tax but you need business-partner from UAE who owns more than 50% of the company.
The so called Free Zone companies (Ajman, RAK, Dubai): No-tax, 100% ownership but they only can be active in these free zones or international (the classic import export business). Directors and Shareholders are allowed to get Visas and work permits.
IBC: The offshore solution which only be used outside of the UAE, No-tax, 100% ownership, but you are allowed to own lease property inside the UAE. Directors and Shareholders are NOT allowed to get Visas with work permints.
Well they are some more points to each kind of that companies but these should be the important ones.
I would suggest a Freezone Company due the Art could be purchased internationally and imported for free.