0% corporate tax company where? For B2B, billing through a BVI company isn't really an option.
Another option to perpetual travel: Moving to a country with territorial taxation and lax rules, like Thailand or Paraguay.
Possible solutions:
- 0% corporate tax company + Perpetual traveler (if you don't hold citizenship of a developed country like Germany, UK, Australia etc, generally if your home country is not strict about it and have only 183 days test.)
I don't believe it to be that simple. There will be enough who will stay and even establish their business in the UAE regardless of the 9%! Just because the majority in this thread don't agree with the new tax then there may be thousands that do. But as usually when something new is implemented only time will show the result.One thing I don't understand about authorities in UAE
They built best system for expats to come live in Dubai and run a tax free business
Everything was simple and straightforward
Expats started living in Dubai. Buying property, cars. They brought alot of money to UAE.
Now if 9% tax is real. UAE will loose all these expats and all apartments will be empty and domino effect will start for the economy.
Do you think they are ready to loose everything just for 9% ?
That 9% was already included in prices of all products you buy
It doesn't make sense for ruler of UAE to destroy his entire business model just for 9%.
I agree and will be staying.I don't believe it to be that simple. There will be enough who will stay and even establish their business in the UAE regardless of the 9%! Just because the majority in this thread don't agree with the new tax then there may be thousands that do. But as usually when something new is implemented only time will show the result.
We could hope it will have such a bad impact on the UAE that they will change their mind but I doubt.
I think with current Russians, Ukrainians inflow UAE will do very good with 9% income tax.
Yes but they will generate income for accountants lawyers etcYou can still take out $200-300k without paying taxes. I doubt that most of them make more than that...
We can’t do it ourself ?Yes but they will generate income for accountants lawyers etc
Spend money in UAE etc
As Fred told he would need 5 additional people just to deal with all bureaucracy.
For us Europeans is not worth I think. We can do similar in Europe without being in desert and have normal bank access , infrastructure etc
You can. But will the account be ok for auditor?We can’t do it ourself ?
For my business I can do it myself, if just a stamp is required from Audit company I’m mad to pay for this ….You can. But will the account be ok for auditor?
Many questions and no answers
Even for South Asian like me its not worth it, I spent around 7 years here. Who is stopping me to move to US or EU where taxes can be high but less headache and more opportunities to grow. Its not only about taxes, the expenses of accountants, audit, lawyers, gov fines will further increase cost of doing business.Yes but they will generate income for accountants lawyers etc
Spend money in UAE etc
As Fred told he would need 5 additional people just to deal with all bureaucracy.
For us Europeans is not worth I think. We can do similar in Europe without being in desert and have normal bank access , infrastructure etc
We can do similar in Europe without being in desert and have normal bank access , infrastructure etc
That is another concern working in UAE, I dont trust anyone here, not banks, not consultants not even real estate agents.
HK, Singapore, US for example.0% corporate tax company where? For B2B, billing through a BVI company isn't really an option.
Another option to perpetual travel: Moving to a country with territorial taxation and lax rules, like Thailand or Paraguay.
Yes, you will still have to.Now you have to pay: consultants, tax audit, 9% on profits >375K AED and renew your company every years and another costs I Think .. In EU it’s still higher (in my country) but I have everything free (hospital, schools) ..
I think UAE become interesting for people who makes 5-10M USD / year profits ..
If I obtain golden visa and I close my FZCO Company, I own a LLC US I I’ll pay CIT ?
100% what you wrote and also let's remember that if you lived in a normal European country you would have been eligible for a passport by now. In UAE you will have no rights, ever.Even for South Asian like me its not worth it, I spent around 7 years here. Who is stopping me to move to US or EU where taxes can be high but less headache and more opportunities to grow. Its not only about taxes, the expenses of accountants, audit, lawyers, gov fines will further increase cost of doing business.
As Fred said big law and accounting firms lied to him. That is another concern working in UAE, I dont trust anyone here, not banks, not consultants not even real estate agents. Dubai is good for personal stuff, where business is concern its not a good place to do business specially online business because no eco system here.
Yes, and it's just not a healthy lifestyle. Dust, sand, A/C, one of the worst air quality in the world. (the worst currently, ranked #1 according to iqair100% what you wrote and also let's remember that if you lived in a normal European country you would have been eligible for a passport by now. In UAE you will have no rights, ever.
Thailand setup was discussed already here.Malta Non Dom, Ireland Non Dom.
But i think the best setup currently for most people is Thailand + US LLC (or any other 0% company if you don't want "US" exposure.)
For now i will stay in UAE. I can just send people to Seychelles, Cayman etc. to provide enough substance and hire as Director to avoid PE in UAE.
UAE is just way too easy to deal with Crypto cashouts and wire the money out wherever you want even without a company setup.
I wonder what will happen to all villas and apartments. Dubai real estate crash is coming
Unenforced outdated laws are irrelevant, especially in Thailand.
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