What country would you choose to relocate to avoid taxes?

[Davis123]

I agree that UAE is one of the best choices to get tax residency with 0% income tax.
Prices are also good in Dubai. But for me it felt really just a city in a desert without nature..
But I like life in Europe

More power to you dear . We all have our own choices to make. Regarding the hot weather in Dubai, have you ever even been to Texas and Arizona? They are just as hot as Dubai. I have lived in Phoenix, Dallas and Houston earlier and they are just as hot as Dubai. UAE has just started a residency visa for senior citizens with wealth. I suspect more Europeans with deep pockets will move down here and live a tax free life along with other seniors as they love the hot weather. Canadian snowbirds move to Florida, US to enjoy their retirement incomes and pay low taxes as compared to Canada. When the word gets out all over the world how UAE is much cheaper than Florida and completely tax free along with the convenience of hiring a cheap maid and enjoying a cosmopolitan city, I am sure you will get more people interested in UAE.

 

[kkein]

Fingerprint scan for entry/exit EU is rolling out now!

Based on the principle that the majority of visitors are "bona fide", the EES will radically change the Schengen Borders Code with the double objective of:

• making borders smart by automating checks and controls on legitimate visitors while strengthening methods for combating irregular migration
• creating a central register of cross-border movements.

Is this going to become a problem for cyprus then, that is EU but outside schengen?

 

[kkein]

Any third world non-island country, where people look like me, low tax compliance and well entrenched permanent class.

then you get bitten by a mosquito, get malaria, and curse the day you got the idea of saving on taxes

 

[xipoid]

Is this going to become a problem for cyprus then, that is EU but outside schengen?

A problem in what sense?

Countries outside Schengen have independent border controls. I imagine Cyprus' are quite sophisticated, given its geopolitical situation and the various threats it faces.

 

[kkein]

A problem in what sense?

Countries outside Schengen have independent border controls. I imagine Cyprus' are quite sophisticated, given its geopolitical situation and the various threats it faces.

What i mean is for the people who move to cyprus for tax optimization, and then spend most of their time somehwere else.
But i suppose that if one hops through, say, greece, final destination shouldnt get the prints?

 

[JustAnotherNomad]

I doubt there is any automatic information exchange between the border crossing IT systems and the tax authorities. In most countries, this isn’t even implemented on the national level. You can get information about that from the Big4 companies, they usually have information about that in their country profile.

However, I absolutely don’t doubt they will be able to obtain that information if they investigate you, and then it probably won’t matter which Schengen border you crossed first. They would probably also quite easily be able to get information from Cyprus about how many days you spend in the country, under applicable information exchange agreements.

 

[jackfrost]

Automatic exchange of that has been in the talks for a few years now and is in the process of being implemented at least for flights as well as trains and ferries.

 

[kkein]

Automatic exchange of that has been in the talks for a few years now and is in the process of being implemented at least for flights as well as trains and ferries.

If data is going to be centrally stored then it's gonna be tough not to comply down to the smallest rule.
And btw many countries do not have the 183 days rule, but most often much less, so for those escaping tax office is going to become really nomadic.

 

[jackfrost]

Anyone planning their setup on that data not being stored should remember that most countries already do store that data by law and also partly exchange but usually with the US for example but it is stored on a per country basis in general. Usually access to that data is contingent on the usual dumb people bulls**t like terror, the poor children etc but access to the data can be given to other entities at any time as has been done with healthcare ministries under covid now.

If you fly, train, ferry consider it stored at at some point being shared - including the eventuality of retroactive access.

 

[biz1]

@Konstanz @Davis123 what is the minimum number of days one is really required to be in Dubai per yr, to keep the residence there? (E.g. you reside in Dubai on the basis of owning a company there that gives 2-3y visa that you then like to keep, and keep paying Dubai's zero taxes)

 

[JustAnotherNomad]

what is the minimum number of days one is really required to be in Dubai per yr, to keep the residence there?

There isn’t a specific number of days, but you can’t be outside the UAE for more than 180 days at a time (I think someone mentioned it’s slightly less).

 

[Dandyline]

@Konstanz @Davis123 what is the minimum number of days one is really required to be in Dubai per yr, to keep the residence there? (E.g. you reside in Dubai on the basis of owning a company there that gives 2-3y visa that you then like to keep, and keep paying Dubai's zero taxes)

2 days a year. 1 day every 185/186 days.

 

[biz1]

@Dandyline that is awesome. Can you give me some reference to some page or law text that says it?

So, I need to set up a business in Dubai to get the 2-3 year visa, and then do the 2 days per year and that's it. Will the Dubai government issue me a tax certificate if I ask for it?

 

[JustAnotherNomad]

Will the Dubai government issue me a tax certificate if I ask for it?

Not if you only spend 2 days there per year.

 

[Dandyline]

@Dandyline that is awesome. Can you give me some reference to some page or law text that says it?

So, I need to set up a business in Dubai to get the 2-3 year visa, and then do the 2 days per year and that's it. Will the Dubai government issue me a tax certificate if I ask for it?

Just google it, and you will see the law everywhere. Hard to miss.

You generally need to spend 6 months in Dubai to get the actual tax certificate.

 

[Jade33]

I can't think of better "no tax" place than UAE. You are free to get your profits and do whatever you wish with them. My alcohol intake reduced to zero when I am here, simply because it is not widely available in every shop. Local ISPs work like a child proof DNS, filtering out websites you do not want your kids to stumble upon. No P**N press in the shops, no sex shops, you get used to these things to the point, that when I come back to Europe it does feel awkward especially with kids around. The residential areas are well kept, green, clean and safe. Judging by the amount of luxury cars in my neighborhood or at the school, I would think there are still rich people living here rather long term. Whoever I meet has been here for 10+ years, usually families with kids.

I don't know where guys like @Konstanz gets his news from, but sitting somewhere in Europe just imaging how the life is in UAE, will not give you a full picture. Where else can I have a villa with private pool, which I can use year round and a call it a tax free long term holiday in fairly well developed country? Sushi at 11pm? No problem, will be here in 30 mins with few taps of my fingers. Shops opened every single day until very late without some bulls**t holidays or closed on Sundays. Try that in Europe, good luck. Everything here is for the convenience of living. The roads are excellent, driving is pure pleasure, only Austria can compete with the quality of roads to UAE. I am struggling in Europe during summer more than here 40+, because either there is no AC in the office or at the shops or I have no private pool to chill in.

I am not saying it is perfect, there are some drawbacks, like 3 day classic music in every radio station when someone important dies but in my opinion the benefits outweigh the negatives. Desert is a nature of the UAE. Visit Anantara Qasr Al Sarab to discover it's beauty. Dubai does excellent job in handling the public areas such as parks, beaches. I am happy they are strict on drugs, it gives you some peace in rising kids here. I could go on but there will be always people like some users above who have absolutely no idea about living here.

I guess it's nice if you turn a blind eye and use their benefits, they keep their facade public image as nicely polished as their new Rolls but the x-rated stuff is hidden in the trunk

 

[erni]

I guess it's nice if you turn a blind eye and use their benefits, they keep their facade public image as nicely polished as their new Rolls but the x-rated stuff is hidden in the trunk

so what you mean is that UAE will let you do business in silency and now one will possibly be able to know that you own a company there or do business there. Everything will be tax free on top of this if done right?

 

[lory]

I would go for either Cyprus or Switzerland, but after reading the many replies here I'm totally confused and will stay where I'm and continue my research.

 

[forense88]

I would go for either Cyprus or Switzerland, but after reading the many replies here I'm totally confused and will stay where I'm and continue my research.

I am in Switzerland. If you work online, forget about it. You need at least 40K$ to live bad. Taxes are high.

 

[joffreylol]

Hey Sols, I appreciate your insight and I have learned a lot from you. Thank you for that. When you say:

If you live on purely capital gains, US can be very attractive.

you mean long-term capital gains of 15%-20% depending on the tax bracket, correct?