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they even legalized weed!

With your Emirates ID and a proper visa, it isn't a hassle to open a personal bank account. In some cases you can do it via their app. I would just use my personal bank account for daily expenses, utilities, and rent. For other purposes, I would check other jurisdictions depending on your...

yes

There's only one caveat regarding the driver's license from what I know. If you hold a FZCO outside Dubai you can only swap in the corresponding emirate the license. Correct me if I am wrong or if that rule has changed. I came across that fact multiple times during my research (it's tied to your...

Dubai South and DMCC require accounting and audits, at least I checked Dubai South's rules on their website. What happens if you don't have any transactions because it is just for having a valid visa?

The introduction of corporate tax coming in mid 2023 bothers me. Let's assume somebody wants to move Dubai just to stay there using a freelance visa. He's keeping all assets out of UAE somewhere (Switzerland, Singapore, ....). Everything is legit. No business running. In Dubai, I suppose you...

What about bank accounts outside of Malta as a non-dom living in Malta?

So if Dubai is such a par place pertaining real estate, where to look after? Malta? Cayman Islands? ...

Hello, I am looking for a suitable solution for some private bank accounts with some reputable banks for holding mostly ETF/shares and some cash in multiple currencies. net worth 8 figures. Facts: - EU citizen (GER) living in UAE on a freelance visa without obligation to work - No business...

Hello folks, more a theoretical question that comes to my mind. Let's assume we have a US citizen, living in the US with an amassed amount of money >$ 40m. Only for asset protection, not for tax evasion, he plans to set up a trust in jurisdictions like Nevis, CI, or Jersey. The trust holds a...

you can sell everywhere you want, pay all taxes and be fine. Simple business basics.

Which countries do you sell to? US? Europe? Asia? We need more information!

Please be aware that if you want to get a tax residency certificate you have to stay at least 183 days in Dubai. To maintain your visa you need to enter every ~180 days. It's not just getting the visa and traveling twice a year to become a legal tax resident. If you life in Dubai you can do...

Many thanks for your suggestions! So startups might bring more returns. Should I invest in startups before they go public? Revolut isn't listed as they haven't gone public yet. How would I be able to invest in that business? Crowdfunding? I mean for private equity I would need a bank and a...

Well said! I have a very low-cost base and apart from low rent no unusual expenses (no wife, no kids, no mortgage, ...). I pay just insurance and some utility bills, no dining as I like to prepare meals. Most of my savings are invested in stock (shares and ETFs). I didn't buy any hype stocks...

Exactly. The rules state that you must not have access to any apartment thus you need to rent it. If you own and rent it, you are only subject to the lease you get. The subject of how to exit German tax is not highly complicated if you follow some simple rules.

Hello, I have been following this forum for a long time and I am very impressed that people run businesses where you need to think about going offshore or planning wealth. For as long as I can remember I always wanted to have my own business. Unfortunately, I am stuck in a larger corporation...

Even staying >183 days in Switzerland but having permanent access to an apartment makes you a tax resident of Germany. Severe all your ties. If you own an apartment just rent out and then you are only limited liability to tax ("Beschränkte Steuerpflicht").

don't even smoke herbs at home and go to Dubai. I would also consider to get yourself and all luggage clean. https://onemileatatime.com/american-jailed-dubai-marijuana/

Don't forget about Malta and Ireland as non-dom. I guess UK non-dom status which lasts only ten years might be gone in the future.