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UAE clarification of Freezone Qualifying Income

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Interesting analysis and debate.
Just thinking about some other consequences of this change. Given a‌ couple of the freezone have their own judicial system,
If you had a tax "issue"‍ would it be dealt with under Sharia law or the prevailing freezone legal system?
 
I am not UAE law expert but isn't 9% federal tax,⁤ so general law of UAE would be applied?
 
Actually, in Geneva︀ they had a new law for the lump sum tax in 2016 and taxpayers with︁ the old regime had a grandfathering clause of which they can continue to benefit (of︂ the old regime) BUT it lasted 5 years.
https://www.bonnard-lawson.com/geneva-final-vote-lump-sum-taxation/Right now they need to meet︃ the new criteria in order to further continue.

So yeah that's why I hardly believed︄ you. So you say (correct me if I'm wrong) that lump sum taxpayers, who arrived︅ before the abolition, can benefit in ZH for life? If yes, can you give me︆ a source highlighting this clause?

EDIT: The grandfathering clause that I mentioned was for all︇ cantons with the regime not only Geneva
 
This might have been answered already
If your FZ company follows a Jan-Dec fiscal year,‌ is it true that it will have to pay not tax in 2023 in any‍ case? Only from FY 2024 onward?
 
I am not sure if I can post the name of the⁢ law firm you can hire for this since they do not advertise on OCT. It︀ may be considered an advertisement by the mods. I'm NOT that lawyer, nor do I︁ work for him. The lawyer who did this for me retired a while back right︂ along with BSI. 😉

If you get permission from the mods, I'll give you the link︃ to the law firm's webpage. I don't want to be banned or ruin someone else's︄ business opportunities.

The law firm can answer all your detailed questions and they can also︅ provide you with official links.

@mods ???? I just realized I don't even know who︆ the mods on here are rof/%
 
Yes, pros and cons with both options. I think the best︃ solution is to have a dual setup with Dubai company and residency (For non EU-customers,︄ banks, PSPs) and Cyprus company and residency (For EU-customers, banks, PSPs), spend winters in Dubai︅ and summers in EU.
 
This is off topic. So no link posting.︂

Please guys stick to thread topic...thx. Switzerland has nothing to do with this thread. I︃ will start zapping off topic posts if it gets out of hand.
 
*This is actually a great idea/theory. If this⁤ is put into practice, I wonder what the results would be.

Theory -> Practice ->⁣ Results.

Has anyone tried this yet?
 
I would've waited for some clarification of CFC rules.
UAE and Cyprus have double taxation treaties, however the tax framework in UAE is, let's say,⁤ in its infancy and there might be some misunderstanding when separating the UBO from the⁣ corporation.
I would choose one of the places (UAE or Cyprus) and try to build⁢ both personal and corporate residence in the same place.
 
I did heed your⁠ previous warning which is why I asked first. 😉 I am aware you already admonished us,⁤ but I also don't want to be rude/disrespectful by not answering forum users.

Thank you⁣ for overlooking our recidivism. thu&¤#

All the eggs in one basket?
 
Why not? You can‌ always have a "piggy bank" holding structure elsewhere to hold your wealth, but for most‍ folks one company will be enough. I see so many guys building multinational structures with⁠ expensive costs and risks while running at 300k profits.
 
hey yall so this is a reminder than in reality all jurisdictions are tax free‌ if you just dont pay.

Have a nice day
 
Dad? Is that you?
Man just never paid any of those leeches a penny! Lived in peace! They never knew‍ he even existed. ROTFLMAO!
 
Due to lack of substance for most freezone "start-ups" and vague wording of ministrerial decisions,‌ I guess. For example for freelancers their ministrerial reponse is "small business relief may be‍ available to the self-employed person and other individual entrepreneurs". Note, they state May Be, not⁠ Will Be.
 
No. It would be a non-qualifying freezone person but a freezone person nonetheless.⁠ 🙁 Bad times for FZCO's, they've become as useless as elevator operators I'm afraid.
 
That's wrong and I mentioned just a few posts earlier why.!

You can opt to be handled as a Mainland Company by being a non-Qualifying Freezone Person:‍

How? By not⁣ providing an Audit:

You need to work with the "Negatives" of what's in the written⁢ law - it's the same with the Excluded Activity List - it's a final List︀ of Excluded Activities and E-Commerce, Marketing and Consulting is not explicitly mentioned hence it's part︁ of the Included Activities even if not mentioned explicitly there either.

Again - if this︂ sloppy wording is now genius or just mismanagement is another question.

I attach the above︃ Ministry Decision here for everyone again.

That's your opinion and that's fine︅ but stop spreading here false information if you are not familiar with the matter -︆ again if you position yourself like this instead of saying you "think" - we have︇ no other choice then showing everyone that this is false and misleading information.

Already written - get's published︉ during today - we report here back once online.
 
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