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Dubai is dead, any alternative to the free zone 9% tax?

#81
latindev said:
If you're from Europe, I suggest avoiding it... But if you still want to go there, stay in Costa del Este where you can have a luxury life if you want (and have the money)... but please learn how to live in Latam before deciding to live there because even doe is not the most dangerous place in Latam, it's still higher than what Europeans are used to. On the other hand if you're from the US then it's ok since most big cities in the US are most dangerous than Panama (and specially the zone I'm saying).

Here is a picture from Street View of the zone I'm saying

View attachment 6067
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Do you have any guide on how to live Latam? Do you consider Panama safer than LA?
 
#82
DomOCT said:
How is Panama City compared to Buenos Aires or Montevideo?
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Montevideo is more expensive than both Panama and Buenos Aires. If you are interested in Montevideo, stay in “Pocitos” which is one of the safer places there, for example in 2022 there wasn’t a single murder there (haven’t checked 2023 numbers… But keep in mind that Uruguay has wealth tax. Regarding quality of life, both Panama and Montevideo have better quality in my opinion (specially because of how woke are young people in Buenos Aires) but Panama and Montevideo are two types of lifestyles so better to visit both to see what you like the most

Tomy223 said:
Do you have any guide on how to live Latam? Do you consider Panama safer than LA?
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Basically common sense IE not making yourself a desirable target… LA is a big city, depending on where you are it can be safer or more dangerous than Panama
 
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#83
TRGali said:
Just to share with the forum (likely has been mentioned in other threads), it seems small business relief for revenue (and not profit) below 3 000 000 AED is not eligible for a free zone person.

https://cms-lawnow.com/en/ealerts/2023/04/uae-corporate-tax-small-business-relief-criteria
I suggest to make sure to earn more than 3 mil AED not to feel bitter about it :)
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It specifically says “Small Business Relief will not be available to Qualifying Free Zone Persons..” which I interpreted to mean that SBR is not available to those who are already tax-free because they are doing qualified free zone activities like manufacturing, operation of ships, etc.

If it is like you say, SBR is not available to any FreeZone, then almost everyone under 3M AED should switch to a mainland company.
 
#84
bio said:
It specifically says “Small Business Relief will not be available to Qualifying Free Zone Persons..” which I interpreted to mean that SBR is not available to those who are already tax-free because they are doing qualified free zone activities like manufacturing, operation of ships, etc.

If it is like you say, SBR is not available to any FreeZone, then almost everyone under 3M AED should switch to a mainland company.
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The concern is that nothing is clear, and the question comes If the people that rely on their business (like most of you and myself too) are willing to stay in all those unclear positions or just give up and move somewhere else. I personally prefer to do the second one.
UAE is anyway in Europe gray zones, so why not move to another region? What about Delaware? What other are cheap and compatible options for Eu customers? (Just services, not hardware).
 
#85
bio said:
It specifically says “Small Business Relief will not be available to Qualifying Free Zone Persons..” which I interpreted to mean that SBR is not available to those who are already tax-free because they are doing qualified free zone activities like manufacturing, operation of ships, etc.

If it is like you say, SBR is not available to any FreeZone, then almost everyone under 3M AED should switch to a mainland company.
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Mainland companies have to pay VAT. Dubai IMHO, is way better than any other jurisdiction, and will get out of Grey List, hopefully in few days time.
 
#88
sinos said:
Mainland companies have to pay VAT. Dubai IMHO, is way better than any other jurisdiction, and will get out of Grey List, hopefully in few days time.
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I’m certainly not an expert here, but depending on the business activities it seems that VAT is not mandatory. For example, if you are providing consultancy services to a company based in the UK, it would qualify as an ‘exported service’ and be exempt from VAT - or at least, that’s my understanding.
 
#91
latindev said:
but please learn how to live in Latam before deciding to live there because even doe is not the most dangerous place in Latam, it's still higher than what Europeans are used to.
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What does it have to do with Europe in the first place?
What if I'm 2.5 years in Latam already?
Besides, I asked in terms of company incorporation, taxes, doing business. Not about living in Panama

Advicer :p

DomOCT said:
How is Panama City compared to Buenos Aires or Montevideo?
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In general, not compared to Panama -- Buenos Aires, as Argentina as a whole, in a biiiiiiig empty village. Nothing to do there. Strikes every 2 weeks. A lot of difficulties when it comes to even paying by card.
The girls are hot, though.

Montevideo, I guess, is similar but even emptier. But way more stable in terms of economy and money.

Konstanz said:
I have been to Panama. Dubai is much more luxury and much more safer.
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Yeah, but my question wasn't about living in the country.
 
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#92
Dictator said:
What does it have to do with Europe in the first place?
What if I'm 2.5 years in Latam already?
Besides, I asked in terms of company incorporation, taxes, doing business. Not about living in Panama

Advicer :p
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Sorry for not catching that you specifically "asked in terms of company incorporation, taxes, doing business. Not about living in Panama" from the phrase "Will Panama be a nice alternative to Dubai?". My bad :)

Why I was talking about Europe? Well cuz most people asking about Panama are from there, people who live in Latam already knows about Panama so that's why... But anyways:

Company incorporation: Extremely cheap and easy compared with the UAE
Taxes: It depends on your business, it can go from 0 to 25%
Doing business: If you are doing business in America, then it's like any other business in Latam... But if you need to do business with the EU then is as bad as the UAE
 
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#94
latindev said:
Montevideo is more expensive than both Panama and Buenos Aires. If you are interested in Montevideo, stay in “Pocitos” which is one of the safer places there, for example in 2022 there wasn’t a single murder there (haven’t checked 2023 numbers… But keep in mind that Uruguay has wealth tax. Regarding quality of life, both Panama and Montevideo have better quality in my opinion (specially because of how woke are young people in Buenos Aires) but Panama and Montevideo are two types of lifestyles so better to visit both to see what you like the most


Basically common sense IE not making yourself a desirable target… LA is a big city, depending on where you are it can be safer or more dangerous than Panama
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So basically I can't drive a Ferrari?
 
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#97
bio said:
It specifically says “Small Business Relief will not be available to Qualifying Free Zone Persons..” which I interpreted to mean that SBR is not available to those who are already tax-free because they are doing qualified free zone activities like manufacturing, operation of ships, etc.

If it is like you say, SBR is not available to any FreeZone, then almost everyone under 3M AED should switch to a mainland company.
Click to expand...

My bad, I think you are very right, Here is the official law link and it indeed refers to qualifying free zone person.

https://mof.gov.ae/wp-content/uploa...oses-of-Federal-Decree-Law-No.-47-of-2022.pdf
I have been lazy to check the definition of qualifying free zone person, but most likely it refers to a free zone person doing qualifying activity.
 
#98
latindev said:
I mean, you can and many people already do that... although, most people there prefer to spend some grants in a few SUVs (you will see a lot of Lexus and Land Rovers) so they can go to exclusive beaches instead of needing to care if their ridiculously fragile car hit the road and breaks itself.
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I am talking about safety
 
#99
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