Withdraw crypto in UAE

[fredkassos]

Hi all,

I am a Belgian citizen and national. I live and work in Belgium.

Around 3–4 years ago, I transferred all my savings to Binance (approximately €100,000). I made some good investments and some less successful ones, but I should now be able to cash out between €900,000 and €1,000,000.

I have lived in the UAE a few years ago, so I am familiar with how things work over there.

My current plan is to go to the UAE, cash out my funds from Binance, make a few real estate purchases, then return to Belgium and continue living my life while benefiting from the rental income.

I know this sounds too good to be true, which is why I’m seeking your advice on how to make this plan a reality.

From what I understand, Belgium does not tax rental income generated from properties located in the UAE. However, I might be questioned about the source of the funds used to purchase these properties — and that's where things could get complicated.

Thank you for your help.

 

[fredkassos]

It might also be worth mentioning that, given the uncertain future of Belgium (or Europe in general), obtaining a UAE Golden Visa could be a valuable asset for difficult times.

Additionally, I would like to clarify that I am not fixated on the UAE or Dubai specifically. I am, of course, open to considering other countries if they offer better opportunities in terms of taxation and investment.

 

[JustAnotherNomad]

I am a Belgian citizen and national. I live and work in Belgium.

The words "citizen" and "national" mean the same thing. I think you meant "resident".

Around 3–4 years ago, I transferred all my savings to Binance (approximately €100,000). I made some good investments and some less successful ones, but I should now be able to cash out between €900,000 and €1,000,000.

Are you sure it's even that bad?
This article sounds like you may not even have to pay tax?

https://www.publish0x.com/galaxie-c...haven-for-cryptocurrencies-in-belgium-xmjnolo

As mentioned in the article, I would also be worried that your crypto holdings have already been reported to Belgium.

I have lived in the UAE a few years ago, so I am familiar with how things work over there.

Whatever that means.

My current plan is to go to the UAE, cash out my funds from Binance, make a few real estate purchases, then return to Belgium and continue living my life while benefiting from the rental income.

Ok.

From what I understand, Belgium does not tax rental income generated from properties located in the UAE.

I googled quickly and it absolutely seems like Belgium will not tax rental income from UAE properties if the income is taxed in the UAE.
You would have to check if it actually counts as taxed in the UAE (taxed at 0%), or if it counts as "not taxed" - if the latter, then I would guess that it would still be taxable in Belgium.
In any case, you would have to declare the income, as this will increase the tax you pay on your other income.

However, I might be questioned about the source of the funds used to purchase these properties — and that's where things could get complicated.

Maybe speak to @Fred - maybe he can offer you a job.
Working physically for a UAE company in the UAE would also be exempt from Belgian tax.
But you would have to work from the UAE, otherwise you would have to pay tax on the salary in Belgium.
And as mentioned, you would have to declare this, as it will increase the tax you pay on your other income.

 

[daniels27]

The words "citizen" and "national" mean the same thing. I think you meant "resident".

I thought that anybody born in American Samoa or Swains Island is a US national but not a US citizen.

 

[fredkassos]

The words "citizen" and "national" mean the same thing. I think you meant "resident".

I didn't know. Thanks.

Are you sure it's even that bad?

Quite sure. We are talking for my case of 33% to 50% taxes.



Indeed, it will increase my taxes, but it's a fine by me. Belgium is all about taxes, it will just put me in the higher tax brackets.

 

[Martin Everson]

From what I understand, Belgium does not tax rental income generated from properties located in the UAE.

True...but be careful here.

"Belgium and the UAE thus have a DTA in place but due to the UAE’s lack of (personal) income tax, Belgium may not automatically exempt UAE-sourced income from taxation. In practice, Belgian tax authorities often require proof that the income has been effectively taxed in the UAE to grant an exemption. Given the UAE’s current tax structure, providing such proof can be challenging, potentially leading to the income ultimately being taxed in Belgium."

However, I might be questioned about the source of the funds used to purchase these properties — and that's where things could get complicated.

You said you transferred your savings to Binance and you will use the gains from that to buy property. The source of funds for the property would be your savings.

Whats the issue? Have you failed to declare something?

 

[fredkassos]

Whats the issue? Have you failed to declare something?

Indeed, I didn't declare my crypto earning to Belgium... yet.


I'm still trying to figure out the best strategy here.

 

[Fred]

As mentioned by @JustAnotherNomad you might be interested in our USDT to WPS Salary Service.

 

[Martin Everson]

Indeed, I didn't declare my crypto earning to Belgium... yet.


I'm still trying to figure out the best strategy here.

Ok I see.

The tax situation in Belgium is a moving target and the tax rates around crypto are crazy. Depending on your activity and situation your looking at up to 50% tax plus penalties and look back probe taking place if they know about your trading account.

https://www.blockpit.io/tax-guides/crypto-tax-belgium

You need to speak to a professional tax advisor. Once resolved then investing in UAE real estate or anything else you want to do with proceeds can take place.

 

[fredkassos]

As mentioned by @JustAnotherNomad you might be interested in our USDT to WPS Salary Service.

Just to confirm: the idea is that you officially employ me, I send you a certain amount of USDT each month, and you pay me a salary (after deducting your commission). How long will it take to receive the full amount?

 

[Fred]

Just to confirm: the idea is that you officially employ me, I send you a certain amount of USDT each month, and you pay me a salary (after deducting your commission). How long will it take to receive the full amount?

That's correct.

USDT has to be sent by 25th of every month so that you receive your WPS Salary in AED on the 1st each month.

For Example:

Cut-Off Time for May 2025 WPS Salary was 25.04 this month and Salary is paid on 01.05.

You are getting paid like most Employees in the UAE on the 1st of each Month through the Wage Protection System (WPS) which means that your Employee Contract including your Salary is registered with the Ministry of Human Resources and Emiratization.

 

[fredkassos]

Fascinating solution indeed. I can move from Belgium for some time, "work" in the UAE, and come back with my "savings" and a proper source of income (if someone asks).

Am I missing something in the equation ? It seems too easy.

@Fred how long the employment contract last for those kinds of amounts in general?

 

[Fred]

Fascinating solution indeed. I can move from Belgium for some time, "work" in the UAE, and come back with my "savings" and a proper source of income (if someone asks).

Am I missing something in the equation ? It seems too easy.

@Fred how long the employment contract last for those kinds of amounts in general?

We have limited space available only - first come first serve - I guess that's the "seems to easy" you are referring to - the service is not something we can provide commercial on a big scale.

The Employment Contract is for 2 Years same like the Residence Visa and can then be renewed every 2 Years or as long as we provide this service.

 

[JustAnotherNomad]

Fascinating solution indeed. I can move from Belgium for some time, "work" in the UAE, and come back with my "savings" and a proper source of income (if someone asks).

You would not even have to move. You could just go to Dubai for a week per month, work from there and get paid for that work, and then go back to Belgium.
It's just important that you don't work outside of the UAE - a salary earned outside the UAE (paid by the same UAE employer) would be taxable in Belgium.

But then again, it might look strange if you make $100k from working in Dubai for a week per month. And why wouldn't they want you to at least work remotely while you're not there?
What kind of work is it that can only be done locally in Dubai and where the employer is fine with having you there only a week per month?

So maybe it would be better to just move there after all.

 

[SoNewToAllShit]

You need to get out of Belgium if you want to be sure they won’t come after you with a massive tax bill just when you think everything’s fine, that’s what I’d do. Anything else, the tax authorities will see right through in no time.

 

[Martin Everson]

I can move from Belgium for some time, "work" in the UAE, and come back with my "savings" and a proper source of income (if someone asks).

Its possible the Belgium tax office is aware of your Binance account?

https://investingintheweb.com/brokers/binance-crs-reporting/

I would get proper tax advice before going down this road.