UAE residence visa!

[MarkusM]

Hello, everyone!
A few week ago, a spoke with a tax adviser from UAE, regarding a UAE company and residence visa , and he told me something , but i could understood it...
He told me that if i will apply for Investor Visa, it will be stamped on my passport, and when the authority in my country will see it, i might get in trouble.
Could anyone tell me what he means?

 

[Martin Everson]

Alexm said:
He told me that if i will apply for Investor Visa, it will be stamped on my passport, and when the authority in my country will see it, i might get in trouble.
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Well if you don't actually live in Dubai but are claiming residency there then it maybe an issue. However why would authorities in your country be looking in through your passport? conf/(%

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[MarkusM]

When i travel, i present it at the border and they could see it!
Other time when they could look in to my passport is when this expires, because i need to present it in order to get a new one.

 

[Martin Everson]

Alexm said:
When i travel, i present it at the border and they could see it!
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I have never had a boarder guard look at any other page in my passport other than the photo page I have open.

Alexm said:
Other time when they could look in to my passport is when this expires, because i need to present it in order to get a new one.
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Thats true. However whats your point you won't be actually be living in Dubai? I don't get what your fear is.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[MarkusM]

Yes, of course i will live in Dubai. I am confused, i am struggling to understand what he wanted to say by this

 

[Martin Everson]

Maybe he assumes you are like his other clients that had just bought residency visas with no intention to live in Dubai. Those people typically get screwed over in their home country during an investigation.

You should ask him to clarify what he means actuallyconf/(%

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Gediminas]

Alexm said:
Yes, of course i will live in Dubai. I am confused, i am struggling to understand what he wanted to say by this
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As Martin suggested, you should clarify with your advisor everything that is not clear to you. And if you can't understand him after that - change the guy.

If you can't understand what he tells you now, just imagine what will happen when more complex questions will arise.

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[MrSoolmaan]

If you have a residency visa for the UAE and you are living there, then I also see no problem. You are then a tax resident in the UAE and that is the country where you pay your taxes, and so it happens their tax laws say that there is 0% tax on income. Not any different to living in a different country, for example, Spain, you would pay your taxes there.

Of course, it's a different story if you are not actually living there but you stay in your own country, then yes, you can have serious problems. Some countries require (if you have a wife/kids) that they also live in the same country of your residence. As an example, I have a wife and 2 kids, if I would get a residence visa for the UAE and I would live there but my wife and kids remain living in my home country, then I would still be taxed in my home country.

 

[BlueMist]

MrSoolmaan said:
If you have a residency visa for the UAE and you are living there, then I also see no problem. You are then a tax resident in the UAE and that is the country where you pay your taxes, and so it happens their tax laws say that there is 0% tax on income. Not any different to living in a different country, for example, Spain, you would pay your taxes there.

Of course, it's a different story if you are not actually living there but you stay in your own country, then yes, you can have serious problems. Some countries require (if you have a wife/kids) that they also live in the same country of your residence. As an example, I have a wife and 2 kids, if I would get a residence visa for the UAE and I would live there but my wife and kids remain living in my home country, then I would still be taxed in my home country.
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I guess a divorce would cut a deal. Based on the ideas on this forum this could be played in multiple ways, e.g. buy some super expensive persian rugs for all your money - the divorce idea may not even come from your side and you may actually be left alone with those rugs, which by the way are pretty useful in the desert.

But this could also be pre-arranged "temporary" divorce for the sole purpose of withdrawing dividends without tax...