Where are you going after the UAE?

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This is a great answer! The same reason I left︀ the USA in 2001. If my accountant made a mistake, it was MY a$$! So,︁ I went to a place with zero taxes. At least for a while until I︂ started traveling too much.

Did you also have to leave behind your physical passport and credit card as a deposit︈ to rent the car? 🙄
 
No, they didn't keep it. I'm⁣ a resident there, so that might have helped when I said I'll escalate it further.⁢ I mentioned DED, my attorney, and a few other things where I would ask for︀ all my expenses to be taken care of in case I have to travel to︁ Dubai to deal with it. Airplane ticket, my attorney time, hotel, etc., not just the︂ deposit.

When I was with family in Dubai, they also didn't have to leave their︃ passport or cc at the rental car company office. Some funds were on hold on︄ a CC that was returned once they returned the car or something like that, but︅ it was some big respectable brand.

I think people should be more careful while leaving︆ such important documents at any place when they travel. They can scan it, but you︇ should never leave it there imo.

If something feels off, it's probably best to walk︈ away and find another company to deal with. Whether it's a car rental or something︉ else... I didn't do that and had to deal with scammers and waste my time︊ and energy on them later on. I was lucky enough to outsmart them and I︋ travel often to Dubai. Tourists who come just once from far away, can very often︌ forget about their money.
 
Brilliant man! You are multiple‌ orders of magnitude brighter than her. She left her cc and passport behind as a‍ "guarantee", so they probably "pegged" her in advance.

An absolute gem of advice! 😉

There is an adage I learned a︀ while back (I was a freshman in college) by what we used to refer to︁ as "the old guard" and it goes like this:

Mistakes are paid with money or︂ blood. Sometimes both.
For the physically weak, torture joins the party.
On rare occasions, life︃ is the ultimate currency!
 
SMLLCs as disregarded entities are indeed an excellent alternative for single-member ventures and 0% TAX for⁠ non-US residents. Quite surprised it isn't displayed more often around here and definitely a much⁤ better option for the nomad tech geeks worldwide than the Dubai/UAE smothering hype.

NVO
 
Yeah. The only thing you should allow is to let them take⁠ a scan of your passport as a guarantee or your ID if you are a⁤ resident.

On the credit card, deposits are usually set on hold, and not charged immediately.⁣ It's like a proof for them you have the funds if something happens.

Everyone else⁢ who does it differently probably wants to scam you. Even if they take the amount︀ they set on hold on your cc afterward without real cause, you can complain to︁ the bank/cc issuer and ask for a chargeback for a scam. These things are taken︂ seriously and they could lose pos/processor if the complaint is serious so they usually don't︃ do scams this way.
 
Georgia is certainly no competition for the UAE. Lifestyles are completely different (Georgia offers nothing⁠ in this regard). Georgia is all but cosmopolitan; it is a tiny place in the⁤ middle of nowhere.

Tax preferences in Georgia are for small entrepreneurs; otherwise, you pay more⁣ than in the UAE.
The danger of creating a PE in Georgia is very high,⁢ and their "foreign-sourced income" definition is more than blurry. Careful with that country! There︀ is a reason why it only attracts very small businesses (and Russian draft dodgers).

If you only live on passive income and it is really "foreign sourced" (note their definition),︁ Georgia is ok tax-wise. Note: You have to stay 183 days in every rolling 12-month︂ period to make that work.
But again, if it is only passive investment income, you︃ can also just live in the UAE, where life is much more luxurious and offers︄ a gazillion times more options.
 
Georgia Eastern Europe and close︄ to Russia would be considered as risky jurisdiction especially from banking perspective
 
It could be of interest to share some more information⁤ about this list! It can be useful for others that may come into a similar⁣ situation as yours.
 
There must still be some points to mention that make it attractive to keep‍ (or set up) your company in Dubai:
  • Asset protection reason
  • creditor and lender protection
  • Tax optimizing
  • more!
Or am I totally wrong?
 
Dubai is not dead⁠ for everyone. It is still a good option for certain types of people, such as:⁤

  • Forex traders and crypto traders: These individuals live on trading income and investment income, and⁣ they do not need to conduct their trading under a business. Dubai offers a favorable⁢ tax environment for these types of traders, as they are not subject to income tax.︀
  • Celebrities, sports players, startup retirees, and politicians: These individuals may also be attracted to Dubai︁ because of its high standard of living, its cosmopolitan atmosphere, and its tax-free benefits. However,︂ it is important to note that these individuals may still be subject to tax in︃ their home countries.
But Doing business using Dubai free zone...is not worth now . I︄ believe this "qaulifying income tax free " drama does not last long..Sooner all later they︅ will impose tax on all businesses....
I also believe if we find the the way︆ to legally avoid PE for foreign company....or they ease the rule of PE....Dubai is still︇ charming..

@JohnLocke

Do you have any idea to legally avoid PE as Dubai tax resident︈ ?
Like How can I run USA LLC tax free from Dubai.....What is your expert︉ Opinion on this?
 
So besides few︇ forex/crypto traders and celebrities not so much use for.
Legally avoiding PE you will have︈ to have real empliyees, managers, offices outside UAE
 
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