Monaco 'on the cheap'....

[boy20hki]

That means they need to stay in MC for at⁠ least 6mo & Dubai for at least 3 mo, correct? In that case they technically⁤ have tax residence in both countries, legally speaking? Seem like perfect high end setup, can⁣ fly easily as they are not far from each other.
Do they need to pay⁢ monthly fee for renting any office/desk in Dubai?

 

[Fred]

No - they come every 6 months⁣ for 1 day to Dubai as they don't require a Tax Free Residence in the⁢ UAE as they have it already in Monaco.

I wouldn't bother with Monaco without having︀ 30m$ net worth and even then you are on the lower end when it comes︁ to wealth.

 

[sergeylim88]

@Fred
thank you for the confirmation
you are always a great source of useful information‌

 

[koohl]

Where in this world are you able to rent anything without paying‍ your monthly fee?

 

[boy20hki]

Sorry for my wording...I meant if maintaining an office/desk is‍ mandatory for a Dubai FZC while UBO is living in MC, of course renting anything⁠ is not free

 

[Konstanz]

You should check on new substance requirements in UAE.
This year will⁠ be many changes
But you don''t have to be in UAE yourself.
I myself also⁤ have company in UAE, but I don't live and don''t have office in UAE at⁣ the moment.

 

[sergeylim88]

what about PE rules in Monaco?
do they exist?
@Konstanz

 

[boy20hki]

I guess MC don't care
Because MC does not tax on personal income
Also people‍ moving to MC mostly owning and managing offshore business from inside MC, so PE does⁠ not make sense otherwise they won't move to MC in the first place.