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My view is the opposite. I also believe most tax accountants can't differentiate long term investment from day/swing trading, and will only consider that the activity is done using personal savings. - The Commercial Transaction Law is quite clear to me about this: "Speculation works practiced...

If revenue (not profit) is above 1m AED (3m AED if small business relief applies), part of profit exceeding 375k AED is taxed at 9%.

@Tom Taylor regarding the definition of Turnover and according to the Small Business relief tax guide (a clear example/illustration is given): "revenue (same as turnover) is determined in accordance with the applicable accounting standards accepted in the UAE", i.e. IFRS or IFRS for SMEs. So...

For this question I invite you to visit the website tax.gov.ae (or ask in their chat to an agent). They have a list of documents/manuals related to the Corporate Tax Law, including when applied to natural persons. 1m AED as threshold for the Turnover (not clear how they define it for trading)...

I have the same question regarding the Turnover. As well as if the tax administration considers that the net profit from crypto to stable coins transactions is taxable or not (in many countries these transaction wouldn't be seen as taxable events, but I've no confirmation for UAE). Has someone...

Couldn't the transfer of crypto to a new company be considered as tax event in Cyprus? Ok, has been answered in another thread. Last edited: Dec 18, 2023

I understand from this thread that a professional trader (US/EU stocks, forex, indices, crypto, etc...) managing his own funds (i.e. no clients and main activity) is allowed to operate as a natural person and is not required to set up and use a freezone company for that purpose. Can you...

Hello, Thank you for the elaborated answer. I agree with sentences 1-2, though the risks related to a lack of substance is not addressed. Unless there is no issue, as in many countries, to have a dormant company without business activity. Sentence 3 is interesting and is indeed rather in line...

Indeed, having it in mind too. Though, it would lead to the set up of a single shareholder FZE in my view. Hence the raised questions might be the same.

Hi, For a trader/investor (mainly US stocks, cryptos, forex), is it interesting/risky to set up a freezone company in Sharjah/Ajman for visa purposes (only), and to operate as a physical person (no tax and no client)? (while living in Dubai) The company would have no revenue and no...

Fyi, minimum 6 months a year in a (permanent) residence needed for the tax residence certificate, otherwise considered as tax resident in your previous country.

Cyprus has some advantages too aside taxation (which is already interesting)

I guess that in Cyprus you also have a permanent residency (rental/property) right? Yes, I agree with Martin. It also depends on the requirements imposed by Dubai banks in order to open a bank account; you might be interested to ask the bank upfront. And yeah, if you don't stay more than 183...

Hello wifey Your question is to me not accurate enough; I expect profits from active trading to remain taxable. Many criteria could apply to differentiate profits of trading (professional) or of capital (investments, not professional) nature. So far crypto-to-crypto profits exempted. Here is...

If other people have a view feel free to comment. In my view every long term operation is likely to be tax exempted, as opposed to active/professional trading for example. So far lawyers had different opinions regarding the taxation of crypto to crypto transactions (in my view they were...

Hi, I'm interested in all crypto taxation topics too; feel free to reach out in pm.

Btw, if you can provide what they need, not sure they are allowed to make a client discrimination when opening an account and using it for a decent period.

@Rony, try maybe to open a new account at IB. The simple fact of opening a new account might be useful to know the blocking point(s), whereas, through the process, you'll be sure that you've given all the necessary information to IB in order to comply with their regulatory constraints.

Over the past few months I've been frequently invited to confirm/bring proofs about my country of residence, etc... Stricter regulations/KYC to be followed on their side after Brexit. It might be good to review their previous communications in this respect. It's also possible they need more...

Thank you for this valuable status on crypto to crypto, much appreciated. Would the tax commissioner decide the contrary (to defend the interests of the tax department), I guess it would hence be possible to appeal the decision to court on this basis. Performing a close follow-up of the tax law...