Moving to UAE because of crazy taxes in my country (France) - Misc questions

#21
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Not that simple for St-Barth. New residents coming from France are not considered the same way, and must live 5 years in St-Barth before being fully considered tax resident there with the full advantages.
fiscalite-de-saint-barthelemy.pdf

It's the same with SXM french part (not exactly the same specific rules).
French laws are very complexes, and when we look deeper, probably it's the same with others countries (especially french "fiscal attractives territories").

I know french people in Mauritius with companies in France. And I've heard that there is this kind of delay aswell (5 yrs) with some parts of fiscal advantages (I cannot give more details as I have not followed the exact details during discusssions).
 
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#22
How's for those people who are not French and not from France ? This rule of 5 years is only for French?
 
#23
It's for frenchs who were previously tax residents in France. Not french expats living already out of France.

EDIT:
But I see in this pdf a column 'Neo‐resident hors de France', so maybe I'm wrong and it's for all.
 
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#24
Konstanz said:
Unless he buy company which is already 5 years old. But I think Saint Barthelemy is much nicer place than Wallis and Futuna in Pacific.
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St. Barths is a place where you could certainly live 5 years with lots of money, if you like the vibe. You do 7 months in St. Barths ( november to may ) and 5 months in Ibiza ( June to october ). You don't get bored for sure and it's beautiful.
 
#26
Cloudbanck said:
Ok, but so if you are not French and never lived in France, can you just move to Saint Barthelemy have zero tax? Assuming you are an EU citizen. And no income tax, no corporate tax? Capital gains tax?

If it's good enough for Hugh Hendry...
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Yes I was asking many people the same question and not getting clear answer.
St Barth island is really nice island during season. It's really the one livable island, very safe, beautiful and everything high quality
 
#27
Ok, I found a quite clear answer here (in french): https://cms.law/fr/fra/publication/eclaircissement-sur-les-fiscalites-applicables-a-saint-barthelemy

Basically "neo-residents" on St Barth that havent lived in France previously (not in the last 5 years), regardless of citizenship, are considered as French tax payers, but have some tax exemptions like no wealth tax on assets outside France, and can avail of the French "inpatriate" tax regime (which I dont know much about, guess it's far from as good as the Italian inpatriate regime).

And then after 5 years as a resident of St Barth, you are no longer a "neo-resident", but a tax resident of St Barth which is much better tax wise.

So for the first 5 years, guess the best way to do it is to buy a 5 year old St Barth company. Costs about 20k USD Ive heard. I wonder how difficult it is to set one up, and if there are requirements for activity in the first 5 years.
 
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#28

Bonjour, Bonjour !

First off all, at such a young age, it seems you already accomplished a lot, that's quite impressive and your forward-thinking approach to your financial circumstances suggests a promising future ahead. Kudos.

1. French Taxes: You're correct in understanding that the money earned in France, that is still within your French company, will be subject to French tax laws once it's distributed to you. As for the suggestion of billing your French company from your UAE company, that might indeed be tricky and could potentially create issues with the "FISC" as it would most likely be seen as tax evasion

2. Payment Processors in the UAE: A few payment processors operating in the UAE come to my mind such as PayTabs, Telr, and Payfort. It's worth comparing their features and costs to see which suits your business best.

3. UAE Bank Accounts: Requirements for opening a bank account in the UAE can vary depending on the bank. It's best to check with banks directly but it should not be so complicated as you will be living there, and your company will be there. that's pretty straight forward

4. Obligations in the UAE: I ain't sure about that. but probably not a big deal.

5. Tax Residency: The issue of tax residency can be complex. Generally, if you spend more than 183 days in a year in a country, you're considered a tax resident of that country. However, tax treaties between countries can affect this. France and the UAE have a tax treaty, and under that treaty, you could be considered a tax resident of the UAE if your permanent home is there, and you have stronger personal and economic ties there than to France. Having your main company in the UAE and living there for more than half the year could potentially support this. However, keeping your SASU open in France could complicate matters, I would suggest to not keep it after 2024.

SasuT said:
Thanks for the answer, that’s a bit more reassuring!


About this, how exactly should I transfer the money, in your opinion? Dividend from my french company to my UAE personal bank account?
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In general, if you want to move money from your French company to your personal account in the UAE, you could indeed do this through a dividend payment. However, this would likely be subject to French taxation. When transferring money internationally, it's also important to be aware of any reporting requirements. Banks especially in France (TRACFIN) need to report large international transfers.
It's definitely not the right thing to do IMO

Second that. Excellent advice.

There's something you need to keep in mind - everything you did as of now - the way you describe it, is 100% legal. You opened a company, made money, left money in the company - so far so good.
Moving to another country is not illegal. You will move overseas, open a company there, work there... it's all good and 100% legal. there is nothing to worry about.
Regarding the money you have in your company bank account, distribute it, pay your taxes, close your file properly in France as you might want to come back one day (not sure how long someone can live in UAE, especially when coming from such a beautiful country like France, cocorico).

your center of life will be in UAE, you will have no problem showing France you are a UAE tax resident.
 
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#29
Thanks so much
 
#30
Hi I think you need a very good law firm in France that adapts to your situation without wanting to bleed you. There are different parameters to take into account if you want I can advise you send me a private message if you wish.
 
#31
@SasuT hello again, do you know accountant that might be able to help with ZFU free zone incorporation? or if you are willing to share some of your time? I would like to establish that for the time being and potentially move to UAE afterwards. I will be traveling there in December but will most likelly stay in France for 6-12 mo more.
 
#32
I would say to open a freezone company in dubai with a resident visa for you, move there, spin a NAS in your apartment, make a website for both your companies and bill hosting/Website design fees to your french one. You open a Paysera account in EUR for you new company (the KYC is long but not very complicacted) and send money to your Paysera Account in EUR. Your sepa payment are legitimate and internal to Europe so no UAE destination relevant for your french bank. You can then transfer your money from your Paysera Account to your final company account in Dubai (or elsewhere) and flag it as transfert between own account. It should not raise any flag either, EMI are used to perform that and leverage currency exchange for this exactly.... Pay attention that your new company will have to pay 9% tax and you should register to VAT (but can do the exemption path to avoid filling a 0 VAT declaration multiple times a year)
 
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