Non AEOI broker for stocks/ETF's
- Thread starter heaven
- Start date
- Status
Setup Dubai company that grants you the residence visa.
Get an Interactive Brokers Account under the company name.
You are then with the US entity of Interactive Brokers -> no CRS
You setup the UAE bank account with UAE residence -> no CRS
The UAE company is considered as tax resident in UAE-> no CRS
Get an Interactive Brokers Account under the company name.
You are then with the US entity of Interactive Brokers -> no CRS
You setup the UAE bank account with UAE residence -> no CRS
The UAE company is considered as tax resident in UAE-> no CRS
I'm thinking the same
I already have a second passport but no other residence. I posted a thread regarding this. What is an easy country for residency card?
However am I doing something wrong following this route? I am saying I'm tax resident somewhere I'm not︀ really tax resident. A lot of brokers also ask if you have multiple tax residences.︁
Thank for the reply. I need to report tax free entities I own outside of︆ the EU in (my EU) country. I was thinking about doing the same with Estonia︇ and a nominee, but these entities are all opened under the Interactive Brokers EU entity.︈ But nevertheless, what would this cost to maintain?
I already have a second passport but no other residence. I posted a thread regarding this. What is an easy country for residency card?
However am I doing something wrong following this route? I am saying I'm tax resident somewhere I'm not︀ really tax resident. A lot of brokers also ask if you have multiple tax residences.︁
Thank for the reply. I need to report tax free entities I own outside of︆ the EU in (my EU) country. I was thinking about doing the same with Estonia︇ and a nominee, but these entities are all opened under the Interactive Brokers EU entity.︈ But nevertheless, what would this cost to maintain?
Regadring your Estonia Nominee setup - keep in mind Interactive Brokers requires real physical bank account︁ they don't accept EMI's any longer. With Estonia Company and Nominee it's most impossible to︂ even get a bank account with LHV.
Dubai Company Formation with 1 Visa All incl.︃ : 7.000 Euro
Yearly renew of the Company: 4.000 EUR
Additional if you have the︄ requirement to open the Interactive Brokers Account under the company name we provide you the︅ account opening free of charge as a welcome gift to you as a Forum member.︆
Dubai Company Formation with 1 Visa All incl.︃ : 7.000 Euro
Yearly renew of the Company: 4.000 EUR
Additional if you have the︄ requirement to open the Interactive Brokers Account under the company name we provide you the︅ account opening free of charge as a welcome gift to you as a Forum member.︆
The Interactive Brokers account will be opened in the name of the Company so the Company will hold the stocks. If you have already stocks under your personal name - Interactive Brokers personal manager will help you to transfer them to the Interactive Brokers account under the company name.
I would not bet on it.
Especially if you use a Broker with subsidiaries within the EU. Do it right and get a zero tax residence before you open an account that they don't have any doubts that you are try to shield CRS with the US entity. You should provide them with proof of address, phone no. and bank account from the zero tax jurisdictions and in case it's possible open under the company name as additional layer︀ of security.
Especially if you use a Broker with subsidiaries within the EU. Do it right and get a zero tax residence before you open an account that they don't have any doubts that you are try to shield CRS with the US entity. You should provide them with proof of address, phone no. and bank account from the zero tax jurisdictions and in case it's possible open under the company name as additional layer︀ of security.
Would IB really be ok transferring from personal account to corporate one?
How would one acquire this? It means you pretty much have to live in this jurisdiction,︀ correct?
Is it impossible to just register remotely, visit maybe once and then get a︁ forwarding address at that jurisdiction?
Phone is easy to solve with call forwarding, but how︂ do you do that with address and proof of address documents?
How would one acquire this? It means you pretty much have to live in this jurisdiction,︀ correct?
Is it impossible to just register remotely, visit maybe once and then get a︁ forwarding address at that jurisdiction?
Phone is easy to solve with call forwarding, but how︂ do you do that with address and proof of address documents?
Yes of course if you are the Managing Director of the company it's possible. We did already both ways even with transfering away from Interactive Brokers to Swissquote in UAE with real banking license in Switzerland.
Regarding proof of address you have to understand how the system in the UAE works. There is no postcode system. Let's assume you are staying︀ in the Address Dubai Mall Hotel during your visit in UAE and visa finalisation. You︁ just have to state you Room No. and the Hotel name. It would like in︂ the bank system like this: Room 2500, Address Dubai Mall, Address Boulevard, UAE. Same goes︃ for business bank account. In the case of business bank account there is even less︄ requirement of personal address it's just the business registered address necessary. The banks really tell︅ you in person "use any address".
Everything is centralized. If you need a new debit︆ card you can say to the bank that you want to collect it in the︇ branch. In case you are in the UAE but in other hotel then last time︈ you opened the bank account - the courier will call you anyway to schedule a︉ delivery and asks were you stay and then comes to where you at this moment︊ stay.
Furthermore is everything else from the GoV side done by mail, sms and apps.︋
You get the UAE phone no. after you have received your residence visa. To keep︌ your residence visa active you have to be in the UAE every 180 days for︍ 24 hours. That's it.
Regarding proof of address you have to understand how the system in the UAE works. There is no postcode system. Let's assume you are staying︀ in the Address Dubai Mall Hotel during your visit in UAE and visa finalisation. You︁ just have to state you Room No. and the Hotel name. It would like in︂ the bank system like this: Room 2500, Address Dubai Mall, Address Boulevard, UAE. Same goes︃ for business bank account. In the case of business bank account there is even less︄ requirement of personal address it's just the business registered address necessary. The banks really tell︅ you in person "use any address".
Everything is centralized. If you need a new debit︆ card you can say to the bank that you want to collect it in the︇ branch. In case you are in the UAE but in other hotel then last time︈ you opened the bank account - the courier will call you anyway to schedule a︉ delivery and asks were you stay and then comes to where you at this moment︊ stay.
Furthermore is everything else from the GoV side done by mail, sms and apps.︋
You get the UAE phone no. after you have received your residence visa. To keep︌ your residence visa active you have to be in the UAE every 180 days for︍ 24 hours. That's it.
Wow, awesome, you are providing︋ so much value to the forum.
Would you be against answering a few more questions?︌
1) So let's say one registers a company in Dubai. Dubai would still receive all︍ beneficiary info as per KYC/AML. So Dubai theoretically can send this information to the benficiaries︎ jurisdiction. How would one negate this? Trusts?
2) Ok, so you open a Dubai company️ and let's say you want to open an InteractiveBrokers or SwissQuote brokerage account with this company. IB and SQ will still require beneficiary info. So they will simply send the information of your company holdings to tax man in your jurisdiction as per CRS. How would one negate this?
3) "Dubai Company Formation with 1 Visa All incl. : 7.000 Euro
Yearly renew of the Company: 4.000 EUR"
These are the costs, so 4000 EUR a year + all the expenses for flights and staying in Dubai the mandatory days per year.
It seems this might be an efficient solution for those who have assets︀ in amount of mid7 to 8 figures.
It seems a little bit too much for︁ those who are in low 7 figures.
Are these prices set in stone?
Again, thank︂ you for your time and help in educating the community 🙂
Would you be against answering a few more questions?︌
1) So let's say one registers a company in Dubai. Dubai would still receive all︍ beneficiary info as per KYC/AML. So Dubai theoretically can send this information to the benficiaries︎ jurisdiction. How would one negate this? Trusts?
2) Ok, so you open a Dubai company️ and let's say you want to open an InteractiveBrokers or SwissQuote brokerage account with this company. IB and SQ will still require beneficiary info. So they will simply send the information of your company holdings to tax man in your jurisdiction as per CRS. How would one negate this?
3) "Dubai Company Formation with 1 Visa All incl. : 7.000 Euro
Yearly renew of the Company: 4.000 EUR"
These are the costs, so 4000 EUR a year + all the expenses for flights and staying in Dubai the mandatory days per year.
It seems this might be an efficient solution for those who have assets︀ in amount of mid7 to 8 figures.
It seems a little bit too much for︁ those who are in low 7 figures.
Are these prices set in stone?
Again, thank︂ you for your time and help in educating the community 🙂
There is no reporting︂ of your KYC/AMal documents from the business authority.
As you open the bank accounts with︃ your residence visa there is no CRS reporting as well.
I don't know were you︄ live but for low 6 figures it's already worth it to setup a Dubai company︅ if you are coming from a central europe tax he'll like Germany/France.
Let's assume you︆ make 100k/year profit and the yearly costs are 4k + flights so let's say 6k.︇ It's 6% tax instead of 40-50% in Germany/France.
In case you have low 7 figures︈ it's more then worth it. I mean even in Germany if you live only from︉ investments you still pay 25% capital gain tax.
Yes the prices are set in stone.︊ The business authority guarantees the fixed renew costs for 3 years.
As you open the bank accounts with︃ your residence visa there is no CRS reporting as well.
I don't know were you︄ live but for low 6 figures it's already worth it to setup a Dubai company︅ if you are coming from a central europe tax he'll like Germany/France.
Let's assume you︆ make 100k/year profit and the yearly costs are 4k + flights so let's say 6k.︇ It's 6% tax instead of 40-50% in Germany/France.
In case you have low 7 figures︈ it's more then worth it. I mean even in Germany if you live only from︉ investments you still pay 25% capital gain tax.
Yes the prices are set in stone.︊ The business authority guarantees the fixed renew costs for 3 years.
Thanks for clarification.
I just don't understand this part:
- Isn't any bank in the world or interactive brokers or swissquote obliged by law to︀ collect beneficiary owner information? Therefore even if they see you have registered a corporate account︁ with Dubai incorporated company... they would still receive information that beneficiary owner is from country︂ X. Which they can then share with country X tax office. Or am I missing︃ something?
I just don't understand this part:
- Isn't any bank in the world or interactive brokers or swissquote obliged by law to︀ collect beneficiary owner information? Therefore even if they see you have registered a corporate account︁ with Dubai incorporated company... they would still receive information that beneficiary owner is from country︂ X. Which they can then share with country X tax office. Or am I missing︃ something?
crs goes by the residence and not nationality. Also a data leak or hack can happen anytime these days.
You gotta move for real if you want to be︀ on the safe side.
You gotta move for real if you want to be︀ on the safe side.
They have on file your UAE resident mobile number, your UAE resident address as well as your UAE company. The IBKR account is under your UAE company name. Yes︀ they have your passport you are citizen from but not any TIN.
So in case︁ you are super ultra paranoid you can change your citizenship as well. Go and buy︂ some St. Kits & Nevis passport an renounce your current citizenship.
I'm a guy from︃ the practive of course you can always escalate a case in theory till the very︄ very end. From my own experience the above mentioned is more then enough.
So in case︁ you are super ultra paranoid you can change your citizenship as well. Go and buy︂ some St. Kits & Nevis passport an renounce your current citizenship.
I'm a guy from︃ the practive of course you can always escalate a case in theory till the very︄ very end. From my own experience the above mentioned is more then enough.
- Status