Recent content by Businessguy32

No need to sell his house if it is fully rented and the tax is fully paid on the rental income. Only liability there is if it is vacant for certain periods

rent will pass 375k so better to stay with a freezone company where the tax will be zero on any amount

It turns out any offshore/freezone company can own foreign real estate and receive rents. Any onshore company too. You only really need license types for real estate within the UAE really. rather that speaking to tax advisors, I spoke to the authorities in the DED and in two different freezones...

Thanks four your reply. i have checked the double tax treaties that most of the european countries have with Cyprus and most are the same conditions. The Cyprus tax treaties are quite old, usually agreed decades ago and do not define a resident as being there for 183 days. it simply says "if a...

Hi brother, I just read you post on one the the threads which is copied below about Cyprus "A tax residency certificate might be asked for by tax authorities in some countries where you have ties. Cypriot tax residency certificate issued under 60 days rule is not valid internationally. Only the...

Hi guys can anybody give some examples of EMIs that will open IBAN accounts for an Ajman freezone company? If somebody has first hand recent experience of this that would be great!!

Hi Martin, yes but the dividend from my home country are taxed at 25% witholding tax for an individual unless it is paid out to a company that is located in a tax treaty country. In that case, the witholding tax is exempt as it is taxed in the other contracting state, which is the UAE. The most...

How Many Board Meetings? So I have a holding company with 20sqm office and secretary as well as a resident director in Dubai. Secretary gets 2000 dirham per month, director gets 4000 dirham per month. I am the 100% shareholder. Up to now I have lived in Dubai but I want to move to another...

Thanks a lot.That is v helpful!

Not much movement on the mentor gold group

Yes correct. I have a real office and phone.I am just seeing what else I can add to my set up to make it stronger. In my country a VAT number is the tax number so I am wondering if it is worth getting. Filling out Nil Vat Returns only takes a few months every month or two so its not much hassle...

I am wondering if a UAE VAT number adds any substance. My only income in dividends from foreign country which are exempt from VAT so my vat returns will be Nil each month. Does having a VAT number make your UAE company any more legit? I know on the dividend exemption form they ask for a tax...

Yes that is true. However if you examine what is gradually happening in the world in the last few years you will see a big shift towards substance. When I came to Dubai originally I had any number of banks to choose from that would open a bank account for an offshore company (Not just freezone...

Asset protection and a lower tax rate. Flat rate of 25% if a foreign company owns the real estate. If a person owns it it is full tax even though they are a non resident landlord. That can amount to as high as 52% instead of 25% so quite a substantial difference

I am resident in Dubai for 10 years now. I want to set up a company that can own European real estate and I am having problems with this. I am trying to find the cheapest and most efficient way to do this but it is proving very difficult so I guess I am missing something. DIFC and ADGM...