Hi all, awesome forum - a ton of great valuable info!
My partner and I have an IT business. Customers from the United States, EU, etc. Provided services are all legal, no shady stuff. We both have Ukrainian citizenship.
Now we are opening companies in Dubai - my partner plans to live there, and in Andorra - I plan to live there. We both are shareholders in these companies. There are no questions about Dubai, 0% tax - awesome! But in Andorra, it's 10%, not so big, but I'm thinking about tax optimization.
I already have an Emirates Residence ID, but haven't opened my bank account yet. So far, I'm considering opening a bank account in Dubai as a resident to receive dividends from the Dubai company and not declare them in Andorra. The Andorran company will receive money from clients to cover main operating expenses, my salary and some dividends. That's it, most of my dividends will go to the Dubai account which I'm thinking to invest in stocks, crypto etc. Also, I have a Ukrainian Tax Return from previous years which can cover some questions about the source of funds.
Really keen to hear your expert opinion about this setup! What do you think?
My partner and I have an IT business. Customers from the United States, EU, etc. Provided services are all legal, no shady stuff. We both have Ukrainian citizenship.
Now we are opening companies in Dubai - my partner plans to live there, and in Andorra - I plan to live there. We both are shareholders in these companies. There are no questions about Dubai, 0% tax - awesome! But in Andorra, it's 10%, not so big, but I'm thinking about tax optimization.
I already have an Emirates Residence ID, but haven't opened my bank account yet. So far, I'm considering opening a bank account in Dubai as a resident to receive dividends from the Dubai company and not declare them in Andorra. The Andorran company will receive money from clients to cover main operating expenses, my salary and some dividends. That's it, most of my dividends will go to the Dubai account which I'm thinking to invest in stocks, crypto etc. Also, I have a Ukrainian Tax Return from previous years which can cover some questions about the source of funds.
Really keen to hear your expert opinion about this setup! What do you think?
