I notice that there seems to be options for regular residency, business, and retirement. What would the approximate minimum requirements be for each to make the switch worth while? Would each of these qualifiers result in lowering ones taxes? Does one have to be a multi millionaire to take advantage?
Obtaining UAE residency, reasonable minimum requirements
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That entirely depends on how you want to live. There is a place for every budget, other Emirates than Dubai will be a lot cheaper.
https://www.offshorecorptalk.com/threads/at-what-point-does-dubai-become-worth-it.33970/Hope this help
"earning/profit $250k a year
"earning/profit $250k a year
Btw i would not be looking to "live there" I pretty much want to set up, residency (maintain it), a securities trading company to invest and also set up a e-commerce company (maybe rolled into one) involving world travel blogging and selling guides, (as a way to make some extra $ but not needed as i already have guaranteed income for the rest of my life.)
So ya... considering it for the tax saving, asset protections, and privacy, but being mostly nomadic for the next 5 to 10 years.
So ya... considering it for the tax saving, asset protections, and privacy, but being mostly nomadic for the next 5 to 10 years.
Could you extrapolate on that further?
No. You can be employed for a peanut salary, just like those construction workers and become UAE resident with all tax benefits.
There is one on this forum @Fred
What you mean by that? You can live in UAE on 700$/month or on many millions/month it just depends on your lifestyle etc.
I really don't want to live anyplace permanently for the next 5 years or so...Some places longer then others though.
Life is short and while i am relatively young and fit, I want to see and experiance as much as I can.
That being said i will be checking out UAE as well, I just don't plan to stay there on a regular basis.
speak with @neweraoffshore he is in for this game for some time, maybe he can help you.
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Most visitors get a 3 month visa that you can renew online for another 3 months for about 1,000 AED ($300).
If you plan to perform some freelancing work you could apply for a Freelance Visa (GoFreelance) that costs 7.500 AED/year but expect additional costs here and there...
And third way is to setup a company and that can be costly and you really need to make sure that the above won't work for you before you opt-in for that way. There is plenty information on this forum about the costs and the procedures of doing that.
Living in Dubai with $700/month?!?!
Good luck with that!
I wrote UAE and not Dubai.
A look at indeed also helps to clarify the local price levels.
How do you think all these guest workers live who deliver your food or drive you in the taxi or clean your apartment? 😉
Yes, you can get cheaper hosing in Sharjah or Ajman or RAK but other costs will be about the same (telecom services, gas, taxi, salik, car rentals, food etc). Cheapest studios in Sharjah are about 12k AED/year or about $275/month and you'll need to add utility bills on top of that at least $100 more. So that's already more than half of the amount just for the cheapest place without any furniture.
Don't get me wrong, but living with $700/month in UAE is impossible. It may be possible if you would have somewhere to sleep (at somebody's place) so that the $700 would cover everything else.
Don't get me wrong, but living with $700/month in UAE is impossible. It may be possible if you would have somewhere to sleep (at somebody's place) so that the $700 would cover everything else.
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