Do we known for a FACT that Dubai doesn't report to your home country your properties and bank accounts with them if you have golden visa?

[PinkCat]

From my limited information so far, seems that if you become a resident in Dubai they will NOT report back to your home country whatever bank accounts and real estate you have in Dubai? Even if you don't spend 51% of the year there, not even 3 months?

Do we know that for a confirmed fact or is mostly speculation/hope at this point?

My plan is to get golden visa by buying 2m AED property there and not spend more than few weeks per year there. So need to make 100% sure that is true before dropping the 2m, thanks! 🙂

 

[Konstanz]

I would never rely on non-reporting
Do everything properly.

 

[PinkCat]

Konstanz said:
I would never rely on non-reporting
Do everything properly.
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I would never rely on doing everything properly.

 

[Don]

Dubai is part of CRS. They just don't necessarily report automatically if you are a resident.

Under the CRS, the UAE has opted for the “widest approach” whereby UAE Reporting FIs are required to report information on all accounts held by an account holder (or a controlling person in case of a Passive NFE) which is a Reportable Person, who is a resident for tax purposes in a jurisdiction other than the US or the UAE.

 

[PinkCat]

Don said:
Dubai is part of CRS. They just don't necessarily report automatically if you are a resident.

Under the CRS, the UAE has opted for the “widest approach” whereby UAE Reporting FIs are required to report information on all accounts held by an account holder (or a controlling person in case of a Passive NFE) which is a Reportable Person, who is a resident for tax purposes in a jurisdiction other than the US or the UAE.
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I'm a bit confused, If i have dubai golden visa but still spend 6M+ in my home country where im tax resident, will they report me automatically or not?

 

[Cloudbanck]

PinkCat said:
From my limited information so far, seems that if you become a resident in Dubai they will NOT report back to your home country whatever bank accounts and real estate you have in Dubai? Even if you don't spend 51% of the year there, not even 3 months?

Do we know that for a confirmed fact or is mostly speculation/hope at this point?

My plan is to get golden visa by buying 2m AED property there and not spend more than few weeks per year there. So need to make 100% sure that is true before dropping the 2m, thanks! 🙂
Click to expand...

Well, if you are a tax resident in your country of citizenship, the UAE can report to this country even if you are also a tax resident in the UAE. Lots of countries have information sharing agreements with the UAE, even if they dont have Double Taxation Agreements. Ive seen one such case of a Swedish citizen where Swedish authorities received all information about bank accounts and properties in Dubai.
Often the UAE is slow on honouring such information sharing agreements, but would't base my good night sleep on that.

Just dont live in a tax hell, and these problems go away!

 

[BeyondBorders]

PinkCat said:
I'm a bit confused, If i have dubai golden visa but still spend 6M+ in my home country where im tax resident, will they report me automatically or not?
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If you are a tax resident in your home country they report to your home country.

 

[PinkCat]

Cloudbanck said:
Well, if you are a tax resident in your country of citizenship, the UAE can report to this country even if you are also a tax resident in the UAE. Lots of countries have information sharing agreements with the UAE, even if they dont have Double Taxation Agreements. Ive seen one such case of a Swedish citizen where Swedish authorities received all information about bank accounts and properties in Dubai.
Often the UAE is slow on honouring such information sharing agreements, but would't base my good night sleep on that.

Just dont live in a tax hell, and these problems go away!
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Yes that's what I'm talking about, it's mostly speculation at this point. They can, but do they do it for fact?
The case with this swedish citizen, did Sweden specifically requested it, or Dubai just automatically provided it?
I'm no person of interest in my country and as long as Dubai doesn't AUTOMATICALLY do it, it's fine with me, i sleep just fine.

 

[JimBeam]

It's done automatically and it depends on how your account tax information is setup.
Some banks allow you to change these settings from within your application

 

[uranium]

You need to live in UAE for 6 months to apply for TRC (taxation residency certificate)
That is how you become tax resident of UAE

 

[PinkCat]

uranium said:
You need to live in UAE for 6 months to apply for TRC (taxation residency certificate)
That is how you become tax resident of UAE
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Is there a loophole around that? How do they count the days you are there?

 

[sinos]

uranium said:
You need to live in UAE for 6 months to apply for TRC (taxation residency certificate)
That is how you become tax resident of UAE
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I thought 90 days and you get TRC

 

[uranium]

PinkCat said:
Is there a loophole around that? How do they count the days you are there?
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They record entry and leave date at airport
No way around
Spend 6 months, get trc and leave
It is not alot comparing to other countries where you have to live for many years
Just go for hotel apartment to avoid yearly rent

sinos said:
I thought 90 days and you get TRC
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How long does it take to become tax resident in Dubai?
183 days
A natural person will be considered a UAE Tax Resident if the individual: has their usual or primary place of residence and their centre of financial and personal interests in the UAE; or. was physically present in the UAE for a period of 183 days or more during a consecutive 12-month period

 

[joffreylol]

@uranium

That's outdated info, they've changed recently to 90 days if you fulfill certain criteria. Here is the decision, check article 4 https://tax.gov.ae/Datafolder/Files...inet Decision 85 of 2022 - For publishing.pdf

Here as well you can see that they have a section if you were there for 90 days or more Issuance of Tax Certificates (Tax residency & commercial activity)

TAX Residency Certificate for Domestic purposes: As per cabinet decision number (27) for the year 2023

2.Applicant is a natural person spent in the UAE less than 183, and equal or more than 90 days:

 

[uranium]

joffreylol said:
@uranium

That's outdated info, they've changed recently to 90 days if you fulfill certain criteria. Here is the decision, check article 4 https://tax.gov.ae/Datafolder/Files...inet Decision 85 of 2022 - For publishing.pdf

Here as well you can see that they have a section if you were there for 90 days or more Issuance of Tax Certificates (Tax residency & commercial activity)

TAX Residency Certificate for Domestic purposes: As per cabinet decision number (27) for the year 2023

2.Applicant is a natural person spent in the UAE less than 183, and equal or more than 90 days:
Click to expand...

Wow this is new to me
Can anyone else who had done this before confirm if 90 days is enough to get TRC certificate?
Do you need ejari or bill in your name or is your salary enough?
Because in that case you can just live in a hotel for 3 months and apply for TRC.
Please I hope more people who done this could clarify

 

[joffreylol]

My understanding is that if you receive salary then you won't need ejari based on the language in the article 4 of the decision 85 as well as required documents when visiting FTA's TRC website. It shows:
2. Applicant is a natural person spent in the UAE less than 183, and equal or more than 90 days:

• Passport and Emirates ID/ UAE Visa residence if available.
• Entry and exit report from Federal Authority of Identity and Citizenship or a local competent Government entity.
• Source of income/salary certificate/ Other proof of carrying on a business in the UAE. Or Proof of permanent place of residence: Title deed, EJARI, Utility Bills or Other long-term Rent Contract.

I haven't tried it myself

 

[PinkCat]

OK what if you do spend 90+ days in Dubai but also spend 180+ days in your home country, wouldn't day have a claim on your taxes as well?

 

[Cavaliere]

They usually report to the country on your passport. If you want to avoid Dubai reporting, get a passport from a 0% jurisdiction and use that for the golden visa. It's the safest option if you have the funds.

 

[Cloudbanck]

Also if you are a citizen of a high tax country, but are totally out of that country's tax net, and haven't lived there in years (or maybe never), you are good too. The UAE can report how much they want to that country, it's just going to check, and see eh, ok, that guy doesn't live here, not our problem.
Best to live in a non-high tax country though. If you are a tax resident of a high tax country even if it's not your country of citizenship, you might get in trouble.

 

[backpacker]

Cavaliere said:
They usually report to the country on your passport.
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"They" usually report to the country of tax residency.
Mistakes happen, and are very often caused by the reported party.