Yes, one more point - the fines. I’m about to close asap but I’m looking for alternative, where can I move?
Dubai is dead, any alternative to the free zone 9% tax?
- Thread starter JonnyStekkino
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Of course, it depends ... This is all a personal decision.
For example, one can stay at Fairmont. Just go past the lobby to the end and turn right and you'll find the offices of Fairmont Residencies. I have plenty of friends that have a studio for about €7000 a month with everything included. Of course, food, entertainment, drinks etc is up to each individual.
Just recently I helped a divorced Scandinavian friend to get something like this: 1-bedroom apartment with sea view in a hotel residence in the center of Monaco., furnished, parking︀ space, with panoramic view - Ref. CO - FM - 02
My friend has plenty︁ of money and his wealth taxes alone exceed €55K a month. In Monaco, he is︂ splurging and NOT even paying half that and there is no threat of prison time.︃ Not to mention how much taxes he is saving from his business.
For me, that's︄ it. The fact that some idiot Low IQ public servant can make a mistake with︅ my tax assessments (and they ALWAYS do) and me spending the next 10 years in︆ a legal battle (all tax events BTW) and run the risk of some envious judge(s)︇ wanting to lock me away out of spite. I'd rather NOT say what I would︈ do ... in such a situation.
I NO longer have ANY fear of this as︉ I have MOVED a long time ago! The combination (1) Monaco personal life and Zug︊ (business life) is the best combination for me, personally!
PS. In my case, I purchased︋ a home in Monaco in the '90s when no such thing as SOF/SOW etc etc︌ existed. Of course, YMMV
For example, one can stay at Fairmont. Just go past the lobby to the end and turn right and you'll find the offices of Fairmont Residencies. I have plenty of friends that have a studio for about €7000 a month with everything included. Of course, food, entertainment, drinks etc is up to each individual.
Just recently I helped a divorced Scandinavian friend to get something like this: 1-bedroom apartment with sea view in a hotel residence in the center of Monaco., furnished, parking︀ space, with panoramic view - Ref. CO - FM - 02
My friend has plenty︁ of money and his wealth taxes alone exceed €55K a month. In Monaco, he is︂ splurging and NOT even paying half that and there is no threat of prison time.︃ Not to mention how much taxes he is saving from his business.
For me, that's︄ it. The fact that some idiot Low IQ public servant can make a mistake with︅ my tax assessments (and they ALWAYS do) and me spending the next 10 years in︆ a legal battle (all tax events BTW) and run the risk of some envious judge(s)︇ wanting to lock me away out of spite. I'd rather NOT say what I would︈ do ... in such a situation.
I NO longer have ANY fear of this as︉ I have MOVED a long time ago! The combination (1) Monaco personal life and Zug︊ (business life) is the best combination for me, personally!
PS. In my case, I purchased︋ a home in Monaco in the '90s when no such thing as SOF/SOW etc etc︌ existed. Of course, YMMV
Things were quite different even in 2010, without even considering 90s. We have to look for a solution that works now, but I don’t see it within continental Europe.
True and also do NOT forget to "look into the future" e.g. 2050...
I already have 5 backup places for 2050...since I am NOT being extorted (read taxed), I can afford to go long on certain places where the EU & USA's influence will be "negligent". Places those two will NOT want to "conquer, dominate & enslave" and places refugees/migrants have NO interest in moving to.
PS. I don't know how long Monaco & CH can hold out from the refugee/migrant crisis... If the surrounding refugees/migrants around Monaco decided to︀ "invade" Monte-Carlo... I don't think there is enough ammunition to successfully defend the principality. I've︁ thought about this a lot! 😳
I already have 5 backup places for 2050...since I am NOT being extorted (read taxed), I can afford to go long on certain places where the EU & USA's influence will be "negligent". Places those two will NOT want to "conquer, dominate & enslave" and places refugees/migrants have NO interest in moving to.
PS. I don't know how long Monaco & CH can hold out from the refugee/migrant crisis... If the surrounding refugees/migrants around Monaco decided to︀ "invade" Monte-Carlo... I don't think there is enough ammunition to successfully defend the principality. I've︁ thought about this a lot! 😳
Bosnia and Mexico were safe havens during Covid. In case of a conflict in Europe, I would look into Argentina or Uruguay: List of countries by food self-sufficiency rate - Wikipedia
Generally speaking, the more corrupt a country is, the easier it will be to leverage it against Agenda 2030 or similar.
Generally speaking, the more corrupt a country is, the easier it will be to leverage it against Agenda 2030 or similar.
I did it here https://www.offshorecorptalk.com/th...lution-on-the-behest-of-a-forum-member.44072/
If you can't see it, let me know and I'll DM you the places.
If you can't see it, let me know and I'll DM you the places.
If Dubai is dead because of 9% corporate tax how comes that most other countries are not dead with low taxes? No tax policy is game over when looking at my research so far!
Did you found other solution better in UAE ?
Did you found other solution better in UAE ?
Well Dubai is far from dead. Still, putting Abu Dhabi aside, the only first world large city with essy immigration and no income tax, no capital gains tax, no wealth tax, and a - let's be real - a very low corporate income tax.
But other solutions, well, I have an acquaintance that spends half the year︀ in Monaco and half the year in Dubai.
Another living as non dom in Malta︁ with foreign income and no tax.
Another who left Dubai for Thailand where there is︂ - as ive understood it - no tax on foreign earnings if you don't remit︃ it.
And my favorite, mixing Dubai with West Africa, and staying below the threshold number︄ of days for corp tax in Dubai.
But other solutions, well, I have an acquaintance that spends half the year︀ in Monaco and half the year in Dubai.
Another living as non dom in Malta︁ with foreign income and no tax.
Another who left Dubai for Thailand where there is︂ - as ive understood it - no tax on foreign earnings if you don't remit︃ it.
And my favorite, mixing Dubai with West Africa, and staying below the threshold number︄ of days for corp tax in Dubai.
Well, the problem is that Dubai kinda sucked already.
It's a sausage party, there's Sharia law, there's a monopoly on telecommunications, you get nothing out of your taxes (no healthcare, no future pension, etc.).
Also, make a mistake somewhere in your taxes and be ready for exorbitant fines, and God forbid you end up in a jail︀ there.
Plus, on top of the 9% corporate tax there are also expensive audits now︁ and other fees that didn't exist 10 years ago like the e-channel registration for the︂ freezones or VAT.
To be honest I'd rather pay up to 20-25% tax somewhere else︃ rather than 9% in Dubai and have to deal with all of that BS and︄ risks, in exchange for nothing in return.
0% tax, no audits and no VAT, that's︅ the UAE that can compete against other countries IMO.
It's a sausage party, there's Sharia law, there's a monopoly on telecommunications, you get nothing out of your taxes (no healthcare, no future pension, etc.).
Also, make a mistake somewhere in your taxes and be ready for exorbitant fines, and God forbid you end up in a jail︀ there.
Plus, on top of the 9% corporate tax there are also expensive audits now︁ and other fees that didn't exist 10 years ago like the e-channel registration for the︂ freezones or VAT.
To be honest I'd rather pay up to 20-25% tax somewhere else︃ rather than 9% in Dubai and have to deal with all of that BS and︄ risks, in exchange for nothing in return.
0% tax, no audits and no VAT, that's︅ the UAE that can compete against other countries IMO.
They don't care about digital nomads with $300k businesses anymore, that's obvious. And to be fair - it's a fraction of the number of incomers Dubai sees every year. Half-million Russians came in last year and a half, hundreds of thousand British are moving and will continue after the election and God knows how many Chinese and Indians. There is always a s**t show somewhere in the world and Dubai is getting all the cream. London used to be a "safe heaven", not︀ anymore.
Yes, in most countries in Eastern Europe you can get︀ about 15%, but this will not be a country where you will be jailed for︁ using a VPN. It will also be a cheaper country with girls & plenty to︂ do.
This gentleman understands PEACE︃ of MIND! 😎
All Dubai needed to do is e.g. offer︉ a Dubai Reserve Visa! For example, a one-time fee of AED 600K and then AED︊ 100K every year with a VAT of 9% (on purchases only) and forget everything else.︋
No income tax, no capital gains tax, no wealth tax, no dividend tax, no︌ audits, a few regulated crypto banks with onramp & offramp, and no corporate income tax.︍
Also, NO bragging on Social Media about your lifestyle in Dubai, so parasitic and unproductive︎ *ssholes like Lagarde and others can't log in and start their envy monster. Posting on️ Social Media is immediate cancellation of your Residency Visa and a fine of AED 100M.
I'd go for that in a second! Just to have another quiet getaway place! 😉
Notice very few people, except a young British guy, are posting on social media about Monaco. He's actually very moderate, which can be expected from him. Just take a look at him. He's NOT selling anything. Super nice guy. Nobody is running scams or pyramid businesses out of Monaco. (OK, with the exceptions of some really big conmen, but we are NOT their target smi(&% ) No digital nomads here either.
Just a quiet place for one to think deeply!︂
Distraction is the enemy of progress! 😉
All Dubai needed to do is e.g. offer︉ a Dubai Reserve Visa! For example, a one-time fee of AED 600K and then AED︊ 100K every year with a VAT of 9% (on purchases only) and forget everything else.︋
No income tax, no capital gains tax, no wealth tax, no dividend tax, no︌ audits, a few regulated crypto banks with onramp & offramp, and no corporate income tax.︍
Also, NO bragging on Social Media about your lifestyle in Dubai, so parasitic and unproductive︎ *ssholes like Lagarde and others can't log in and start their envy monster. Posting on️ Social Media is immediate cancellation of your Residency Visa and a fine of AED 100M.
I'd go for that in a second! Just to have another quiet getaway place! 😉
Notice very few people, except a young British guy, are posting on social media about Monaco. He's actually very moderate, which can be expected from him. Just take a look at him. He's NOT selling anything. Super nice guy. Nobody is running scams or pyramid businesses out of Monaco. (OK, with the exceptions of some really big conmen, but we are NOT their target smi(&% ) No digital nomads here either.
Just a quiet place for one to think deeply!︂
Distraction is the enemy of progress! 😉
I wouldn't compare a 35k Monaco with 3mil Dubai. Even considering the "personnel" it's like 20-25k against 500-1000k well-off residents.
Nobody in the world cares about Monaco exactly because it's tiny, there is a very limited amount of people who can reside there and it generally complies with EU regulations when it comes to banking, extradition etc. And you can't use Monaco for corporate tax tricks, so again - nothing to compare with.
You have all of that in UAE except crypto banks. But︁ to be frank, there are almost no proper crypto banks in the world, so hard︂ to complain.
Regarding the corporate tax - well, again, they are actively diversifying their income︃ streams, they went from 50%+ oil revenue to something like 15% and keep pushing. And︄ while technically you don't pay any taxes on personal income, you do pay 5% VAT︅ on all goods and services now and you pay property tax (DLD, DEWA etc) etc.︆
I like EU, I would move in Spain in a heartbeat if they had something︇ like a non-dom tax regime and a clear approach to taxing, however it will not︈ possible in the foreseen future in the socialist ruled EU.
Nobody in the world cares about Monaco exactly because it's tiny, there is a very limited amount of people who can reside there and it generally complies with EU regulations when it comes to banking, extradition etc. And you can't use Monaco for corporate tax tricks, so again - nothing to compare with.
You have all of that in UAE except crypto banks. But︁ to be frank, there are almost no proper crypto banks in the world, so hard︂ to complain.
Regarding the corporate tax - well, again, they are actively diversifying their income︃ streams, they went from 50%+ oil revenue to something like 15% and keep pushing. And︄ while technically you don't pay any taxes on personal income, you do pay 5% VAT︅ on all goods and services now and you pay property tax (DLD, DEWA etc) etc.︆
I like EU, I would move in Spain in a heartbeat if they had something︇ like a non-dom tax regime and a clear approach to taxing, however it will not︈ possible in the foreseen future in the socialist ruled EU.
Seems to be possible with Beckham law. Just get a work contract on paper and all your overseas income is tax free for 5 years.
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