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  1. T

    This guy claims you can get a crypto license in Dubai (for about $15K) and bank easily that way?

    For those interested by the IP box regime: Cyprus IP Box Regime - Intellectual Property Law - Taxes and Accounting I don't see any link with trading though, as profits from 'running' the software are out of scope.
  2. T

    Forex Prop Firm Trader

    Hi mate, certainly interesting to do. Which countries did you analyze for this purpose/activity (unless your focus was on Canada)?
  3. T

    This guy claims you can get a crypto license in Dubai (for about $15K) and bank easily that way?

    Could you briefly explain the interest, i.e. why a software company with own IP? I guess it's related to a specific tax regime for IP; though, would such a regime also apply to profits from using such a software, as compared to selling/licensing it. You can trade crypto in any case in Cyprus...
  4. T

    This guy claims you can get a crypto license in Dubai (for about $15K) and bank easily that way?

    Thanks for sharing your ideas. It's probably an interesting option to examine indeed, quite advanced though. For Cyprus I was more referring to trading stocks, indices, commodities as a natural person (main activity, with social contributions) and doing the same for crypto if crypto to crypto...
  5. T

    This guy claims you can get a crypto license in Dubai (for about $15K) and bank easily that way?

    Sure, also noticed this point. It will depend on the quality of the statement reports proposed by the exchanges. The difficulty is probably not in designing an excel file allowing to do such currency conversions on a per transaction basis, it is more in the use of partial entries and partial...
  6. T

    This guy claims you can get a crypto license in Dubai (for about $15K) and bank easily that way?

    Do you have examples of countries and some more details? In my view things are quite clear for UAE in 2024 (see other topics); the only pending question is whether crypto to crypto transactions will constitute a taxable event I think.
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    Consultant for UAE crypto proprietary trading company

    Wasn't my message but thanks for the info mate.
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    Tax on trading in the UAE

    Thank you. Yes, there might be a distinction between the exempted profit generated by such a service and the capital gains themselves. Would also be interesting to know what is meant by wealth and investment management, not sure active trading is included compared to investing.
  9. T

    Tax on trading in the UAE

    Interesting option. Is there a source mentioning a tax exemption for a SFO and the other advantages it could have - compared to trading as a natural person, also to compensate the costs and compliance requirements?
  10. T

    Tax on trading in the UAE

    Thanks for sharing. Holding in the sense of investing, not trading in my view. With mandatory audited financial statements in the case of qualifying freezones.
  11. T

    Tax on trading in the UAE

    The example I mentioned was to show that the 375k AED threshold also applied to natural persons, being a self-employed, employed, investor, etc.... ; ) I've also confirmed (from an official source) in a recent post that no license was needed. I didn't know some countries considered such swaps...
  12. T

    Consultant for UAE crypto proprietary trading company

    I think if you have a foreign neo bank account with legit funds (e.g. personal savings from previous employment, donation, etc...) that you can prove for the UAE personal bank account opening, afterwards you can do whatever you want with your foreign neo bank account, convert and send you cash...
  13. T

    Consultant for UAE crypto proprietary trading company

    Regarding the drawback of using a personal bank account, do you think it is justified? I'm using a personal account from a (foreign) crypto friendly neo bank (some are quite solid), proposing a debit card, and profits from crypto won't be deposited on my personal UAE bank account. Also, if you...
  14. T

    Tax on trading in the UAE

    I'd say setup/license fees that you could avoid, stuff like the ultimate beneficiary owner, physical substance and any other regulatory aspect to be examined/followed up (possibly with a lawyer), the difficulty to open a bank account (esp. for crypto trading),... Never fully thought about it...
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    Tax on trading in the UAE

    Had a last doubt today indeed. This is my current understanding too - Art. 4 p.2 seems quite clear. If it can matter for comparison purposes, note that the 375k AED tax base reduction also applies to natural persons (see example 3, p.14 of the corporate tax guide - taxation of natural persons...
  16. T

    Tax on trading in the UAE

    The point is that I don't know what is meant by commercial transactions (the scope of the document); if it necessarily implies clients, or even without (in which case speculative trading on financial markets would be concerned).
  17. T

    Consultant for UAE crypto proprietary trading company

    Taxation of day traders is still to be fully confirmed I'd say. Why would it be better if using a crypto prop company?
  18. T

    UAE Deadline to register for CT

    Do you have a decree/source mentioning that audit is also mandatory, for a freezone company (consulting) and for a natural person (e.g. trading own funds/personal savings as main activity)? Also interested in an affordable accountant for comparison purposes
  19. T

    Does the new UAE CT applies to day tradings

    Social security contributions in UAE really or general reasoning?
  20. T

    Tax on trading in the UAE

    PwC: "There is currently no personal income tax in the UAE. As such, capital gains tax is not imposed on UAE national or resident individuals." = at press time, i.e. view 2023, not 2024.

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