Best Zero Tax countries
- Thread starter zeeoffshore
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Without a doubt - UAE.
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Best reputation in what regard and for what purpose?
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This is the probably the answer to your question.
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This is the probably the answer to your question.
This ^ UAE is for sure the best now a days, the Island countries just have an impossible time getting banking generally.
In UAE You can open bank account in any world bank from Dubai .Most Top bank have offices in Dubai.
Why do you want a zero tax countries? Whatabout countries with territorial taxation? There are many about which almost no one ever talked. And you can open bank account easy there. You pay no taxes from foreign sourced income..
Opening bank account in UAE is not easy. I heard from many people they incorporated UAE company and failed to open local bank account.
Anyone to share their experience?
These "territorial countries" usually have strict permanent establishment rulings. If work is done from that country. It can be considered work in the country. Or if you manage the foreign company through that territorial country. You can still be liable for tax.
The safest choice is 0% tax country. Everything is very clear. No surprises.
UAE is one of the best options..
There is also better option but all depends on your budget
Last edited: Jan 25, 2021
I was not writing about costs fo living. I wrote about costs for obtaining a residence permit..
Panama: setup once and forget or life. No further cost.
Dubai: Need to renew and pay up again
You can not forget it in Panama. If your residence permit shall not be cancelled, you have to spend at least one day every year. It has to be a day of full 24 hours. So you have to at least come on day 1, be there a full day 2 and leave on day 3.
In the UAE, you have to come there at least every 6 months for at least 1 days.
So, you have to travel to UAE 2 times more. But you can not forget about Panam once you have a residence permit.
In real life situation it would be much more than this. Local tax inspector would ask to provide proof of life in that UAe or Panama. Utility bills, rent agreements, card statements of goods and services in that country etc. If they see you only be 1 day. This is useless. They would claim tax residence in home country and tax you
~1 month per year saying you travel a lot with proof of it might work. But you still have to build some base in UAE or Panama. Have HOME (rent or buy) etc..
Panama easy? Lol I have never got the same amount of issues related to international payments than with banks from Panama, I'm even thinking to finally close all my accounts there. The good thing though is that their banking system is well regulated (or at least that's what everybody says)
Do you have emirate ID ?
You can open bank account with just Your phone and emirate Id .
No required to visit bank account .
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