multiple residencies

[lonizzita]

Hi everyone
what are the disadvantages of having multiple residences?

For example if I have 2 residences 1 in EU and 1 in UEA.

EU residency I use it only for EU market: so personal accounts and companies in EU

Whereas the UEA residency I use for personal accounts and companies in the UEA

is this legal?

Of course, I think, I should be careful not to exchange money between the 2 private accounts with different residences.
And i think I will always have to omit the other residence for declarations as well

what do you think?

thank you

 

[troubled soul]

You can have as many residence visa as you want....The real Issue is tax residency.......

 

[zzzzzz]

lonizzita said:
Of course, I think, I should be careful not to exchange money between the 2 private accounts with different residences.
Click to expand...

Are there any problems if you transfer money from EU account to UAE account (or vice versa)?

 

[Martin Everson]

lonizzita said:
what are the disadvantages of having multiple residences?
Click to expand...

Just double the paperwork really.

lonizzita said:
is this legal?
Click to expand...

Yes

lonizzita said:
what do you think?
Click to expand...

Bad idea

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.