Living Cost of Dubai is High. compare to other , Otherwise It is heaven.New Dubai Work Remotely Visa seems interesting:
1 year validity, US$611 cost (on the official Visit Dubai website), gets you Emirati ID (=banking).
“Applicants will need the following:
1. Passport with a minimum of 6 months validity.
2. Health insurance with UAE coverage validity.
3. For employees: proof of employment from a current employer with a one-year contract validity, a minimum of US$5,000 per month salary, last months’ payslip and 3 preceding months’ bank statements.
4. For business owners: proof of ownership of the company for one year or more, with an average monthly income of US$5,000 per month and 3 preceding months’ bank statements.”
Any downside ?
The heat.Living Cost of Dubai is High. compare to other , Otherwise It is heaven.
Oh yes , I forget that ,Do not Go out often.The heat.
More details here on the official government website: HOME
What about gains made trading stocks, forex and futures , CFD’s ?Unfortunately no to both questions. I have never visited CV. It was on my bucket list before the world got crazy, and now I have other concerns. On the surface it looks interesting; several diverse islands, great Canaries-style weather year-round (except some sandstorms in southern islands). The language situation is not that good. I've heard of good and bad experiences from travelers.
It is not a tax haven, and they only have tax treaties with Guinea-Bissau, Macau, and Portugal... There's a good summary of the tax situation at PWC website. There's this gem though (individual taxation):
Category E: Capital gains
Capital gains earned by individual taxpayers are subject to a flat rate of 1% in the case of gains on the disposal of immovable property, intellectual property, or shareholdings. A flat rate of 20% applies in the case of gains on gambling, lottery, betting, prizes awarded in sweepstakes, or contests.
That is good news!Seychelles has joined.
https://workcation.seychelles.travel/
Called the Workcation Seychelles program.
But you are free from taxes for the period you stay there ?Sorry to spoil the party but in many of these programmes you specifically DO NOT become a tax resident of the country, despite staying 183, 360 or plus days there.
i would assume you pay local taxes for local income - if there aren't any, then no taxes. Whether the specific programme exempts you from local taxes - that i do not know.But you are free from taxes for the period you stay there ?
So, the lesson is to seek professional guidance before spending thousands of dollars? Thank you for your service.I got Barbados Wellcome Stamp, it was super easy to get it, 3-4 days in total, but I am not sure it was a good decision. I am not allowed to open a company there, I can receive sallary there (and get a personal bank account) which means that I have to stay employed in my home country and pay taxes there (no DTA). No info on whether I will get an actual residence there and ID. It looks more like one year tourist visa. Additionally, Barbados is considered a tax heaven, so any payment to Barbados will be taxed with additional 20% in my home country. To make it even worse, Barbados is currently affected by volcano erruption on Saint Vincent, with disastrous consequences. Its small island, there are doubts on Internet connection quality, hurricane season (European summer) may disconnect you for a full month if unlucky, its expensive as everything is imported and transported by ships, so now I believe it was a bad decision to spend 2.5k euros for getting the wellcome stamp for me and my girlfriend. I will probably go there to try it, but... I do not expect much, especially not to stay for a whole year or renew it.
My info says that around two thousand people got this visa, but I was not able to find online ANYBODY living and working in Barbados with it, to ask for feedback, and some more info...
If I go (at this moment, no earlier than october/november, as volcano ash is everywhere), I'll let you know more about it...
Sometimes saving Tax cost you a life.I got Barbados Wellcome Stamp, it was super easy to get it, 3-4 days in total, but I am not sure it was a good decision. I am not allowed to open a company there, I can receive sallary there (and get a personal bank account) which means that I have to stay employed in my home country and pay taxes there (no DTA). No info on whether I will get an actual residence there and ID. It looks more like one year tourist visa. Additionally, Barbados is considered a tax heaven, so any payment to Barbados will be taxed with additional 20% in my home country. To make it even worse, Barbados is currently affected by volcano erruption on Saint Vincent, with disastrous consequences. Its small island, there are doubts on Internet connection quality, hurricane season (European summer) may disconnect you for a full month if unlucky, its expensive as everything is imported and transported by ships, so now I believe it was a bad decision to spend 2.5k euros for getting the wellcome stamp for me and my girlfriend. I will probably go there to try it, but... I do not expect much, especially not to stay for a whole year or renew it.
My info says that around two thousand people got this visa, but I was not able to find online ANYBODY living and working in Barbados with it, to ask for feedback, and some more info...
If I go (at this moment, no earlier than october/november, as volcano ash is everywhere), I'll let you know more about it...
would you include Malta in the island countries that are not worth moving to?Sometimes saving Tax cost you a life.
In today's world, So many materials online available, Sometimes We become overconfident, And then Trouble starts.
In my opinion, Monaco and UAE are the only countries worth moving to. Others are very risky.
We do not value things that are easily available to us. Internet, Safety, Water, Police, Food Price are soo good in our home country .So We took it for granted.
Island country looks good in the Picture, The reality is different.
I think some Honest Digital Nomad should make a youtube Video on "expectation vs reality" Island life. It will be fun.
https://en.wikipedia.org/wiki/Taxation_in_Maltawould you include Malta in the island countries that are not worth moving to?
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