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I think the main threat could be cutoff from international payment systems and limited US-Dollar and Eur supply. So not passport related. I don”˜t see why Singapore should be affected.

We have a HK Ltd. with a bank account at HSBC HK, were we also hold our company assets. What is your opinion about the political risk involved holding all assets with a HK bank, especially regarding a possible Taiwan conflict? I know that HSBC is a British bank, but still we are with the HK...

Regardless of how you do it, a simple tax system with only one tax will never be accepted by the tax payers. High taxes only work if you split the total tax into dozens of different taxes. So most people have no idea of how much tax they pay in total.

Just been informed? Who did inform you?

Yes, until 31.12.2026. Thanks for the link, didn”˜t know there is a new guide for it.

What do you mean by ”žcompliant“? As I understand it, there are qualifying FZCO (qualifying for 0% CT) and non-qualifying FZCO, depending on the activities. Non-qualifying FZCO fall under the normal tax regime. If a FZCO does not have any activities I assume it is still necessary to make a tax...

Is this new information about starting 2025? I thought if your fiscal year is calendar year then it starts Jan 2024.

I really wonder why no other service providers show up here on this forum and take the fish which were catched by Fred.

But why is it necessary to close a company then and carry the closing cost? Just play dead and never return to UAE.

But if the company has no assets, no balance on the bank accounts, visa still valid. The person dies and nobody knew about his/her Dubai business so nobody informs UAE? What will they do?

What to do after this? Is it necessary to declare 0.- VAT monthly?

Maybe. I just wanted to explain that Thailand is very very strict about their immigration laws and not so strict about their tax laws as long as you stay under the radar. Exactly the opposite of Europe. I want to add that a special visa with work permit probably comes with an obligation to pay...

This only works if you stay under the radar. Don”˜t go to the Thai tax office and ask if you can run an US LLC in Thailand. You are not allowed to work in Thailand with an Elite or retirement visa. People got deported because closing the shop-door of their Thai wife in the evening without work...

If you really want to build up something which will bring a lot of profit, then move your personal residency first because of exit-tax regimes. I did the opposite and now I”˜m f”¦.d.

The banks in UAE are quite strict about income on personal accounts in my experience. Salary and dividends are ok. But other incoming payments could cause problems.

Hi taoasher, Any results on this?

I don't know if this guide from the UAE tax office was linked here already or not (too many posts): https://mof.gov.ae/wp-content/uploads/2023/05/FINAL-CT-Guide-English-12.5.23.pdf Do I understand something wrong? The AED 375.000.- profit threshold is only for mainland companies??? "As such...

@Fred did you upload your EID instead of the passport or both? And do you know if you have to prove where you are tax resident? (if you indicated UAE tax residency). Thank you.

Hi, If I transfer EUR from my private bank account in Dubai (UAE resident) to a private third-party account outside the EU, then there is still an EU correspondent bank involved. Does a tax authority in the EU now have the option of filtering bank data via this correspondent bank? i.e. does the...

But still there is the question what will happen with the people who have Dubai residence but don't stay in Dubai 90 days or more. How will banks react regarding CRS when these people cannot provide a Dubai tax certificate? Probably not known at this time. But on the other hand why would anyone...