Why no one is considering no reportable and still 0% tax Bahrain?
- Thread starter Alenka
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LLP can have Corporate Partner as well like @Konstanz mentioned.
Should such a structure be affected it takes smart people most likely not even a week to find a loophole.
We can't understand people thinking UAE is becoming a Germany from Tax Authority perspective while even EU members like Portugal, Malta and Cyprus not following the clowns in Brussels.
Should such a structure be affected it takes smart people most likely not even a week to find a loophole.
We can't understand people thinking UAE is becoming a Germany from Tax Authority perspective while even EU members like Portugal, Malta and Cyprus not following the clowns in Brussels.
- It's cheaper and easier to setup
- You get the residence visa/permit right away
- Lifestyle is like a million times better
- Country itself is bigger so you can explore it, drive couple of hours to go to Ajman or RAK or something.
- Foreigners are more welcome in Dubai
- Much better connected in terms of flights
- 9% tax is only for mainland companies - most of free zone companies do not pay any tax
- There is no guarantee that Bahrein won't introduce CIT tax in a year or two
- A lot of free zones to choose from where you can setup your business that matches your needs︀
- Informations are easily available online and you can easily find people that are doing something︁ similar in Dubai (than in Bahrein).
When everyone goes︂ to Dubai - you go to Dubai as well.
Just like @Fred said, there are multiple workarounds/loopholes that you can utilize
See: Permanent Establishment rules UAE, with new CT on Companies
We were actually holding a meeting with a manager of flat6labs in the UAE a couple of months ago, and one of the attorneys in the meeting mentioned the same exact thing that I suggested in the link above. So, Plenty of work arounds for a country that just come to enact Corporate tax.
This is not the IRS nor the HMRC,︀ talk to the right people and you will be fine!
See: Permanent Establishment rules UAE, with new CT on Companies
We were actually holding a meeting with a manager of flat6labs in the UAE a couple of months ago, and one of the attorneys in the meeting mentioned the same exact thing that I suggested in the link above. So, Plenty of work arounds for a country that just come to enact Corporate tax.
This is not the IRS nor the HMRC,︀ talk to the right people and you will be fine!
cause Bahrain kinda sucks for long term living, Dubai wins in every possible scenario.
RE is currently cheaper in Bahrain tho
RE is currently cheaper in Bahrain tho
I think it's about things being streamlined and there is actually nothing that beats Dubai from Commercial Point of View.
We would be stupid if we wouldn't look left and right which is for us Bahrain, Qatar, Oman and even Saudi - nothing comparable to Dubai - not even Abu Dhabi is comparable with Dubai despite the same country.
I was in so many places and Dubai is the only real Offshore Tax Heaven I can think of living in and most - if not everyone I ever spoke about this topic - agreed the same.
Yes - if your net worth is 10m$+ - Monaco can be interesting as well however we even served clients already who was living︀ there and it's definitely not so good and easy to connect as most people moving︁ there are between 40 and 60 and did sold there company for 10s of millions︂ of $.
Bahamas and Caymans can be interesting when you like the banana island lifestyle︃ - I mean what's the point of living tax free if you are living on︄ a small island - that's what I asked myself back in the days when I︅ had seen a Ferrari driving on Malta.
We would be stupid if we wouldn't look left and right which is for us Bahrain, Qatar, Oman and even Saudi - nothing comparable to Dubai - not even Abu Dhabi is comparable with Dubai despite the same country.
I was in so many places and Dubai is the only real Offshore Tax Heaven I can think of living in and most - if not everyone I ever spoke about this topic - agreed the same.
Yes - if your net worth is 10m$+ - Monaco can be interesting as well however we even served clients already who was living︀ there and it's definitely not so good and easy to connect as most people moving︁ there are between 40 and 60 and did sold there company for 10s of millions︂ of $.
Bahamas and Caymans can be interesting when you like the banana island lifestyle︃ - I mean what's the point of living tax free if you are living on︄ a small island - that's what I asked myself back in the days when I︅ had seen a Ferrari driving on Malta.
Sometimes is better Caymans than Dubai. It just depends. I was living in Dubai for around 1 month. If you have enough money there is better place to reside than Dubai.
Dubai advantage is very easy to get residence. But for life is not the best place to be. I don't see many Dubai resident to really live in Dubai. Most I met they stay just couple days per year to renew cards.
Most residents in Dubai are fake and that says much about it.
Dubai advantage is very easy to get residence. But for life is not the best place to be. I don't see many Dubai resident to really live in Dubai. Most I met they stay just couple days per year to renew cards.
Most residents in Dubai are fake and that says much about it.
Yes. I think you can have better quality of life spending couple months per year in Cayman than couple months in Dubai.
Its worth to remember that you have to stay 90 days in UAE to quality for tax residence certificate. It's not 180 days as before, but still a lot. And they COUNT DAYS.
In Cayman, Bahamas etc. I don't think they count days, that's the huge difference comparing UAE. You can spend some winter months in Cayman and︀ remaining in Europe (not your home country).
Its worth to remember that you have to stay 90 days in UAE to quality for tax residence certificate. It's not 180 days as before, but still a lot. And they COUNT DAYS.
In Cayman, Bahamas etc. I don't think they count days, that's the huge difference comparing UAE. You can spend some winter months in Cayman and︀ remaining in Europe (not your home country).
Why are you not thinking︃ about RAK in UAE? The cost of living is literally 40% or more less than︄ dubai, its 1.5 hr away from dubai, everything is cheap and accessible, you can open︅ a company in rak freezone, another option is ajman which is even more closer to︆ dubai.
Bahrain is indeed a gem, I've opened a thread here some time ago when I discovered the residency by real estate program.
Now: after I've spent 1 and half month in Manama I can say I would place Bahrain right after Dubai, and better than Abu Dhabi.
Real Estate is crazy cheap for the quality you get, with 200k usd you can get an apartment that in Dubai would cost easly 600k considering ammenities / quality (see Fontana buildings compared to the Address in Dubai).
Also all the rest is much cheaper, there is not that feeling o being robbed constantly for everything you pay.︀
The Residency program with 50k minimum is just the cherry on top, as with 50k︁ you can grab a pretty good apartment and a 10 year visa.
Now: after I've spent 1 and half month in Manama I can say I would place Bahrain right after Dubai, and better than Abu Dhabi.
Real Estate is crazy cheap for the quality you get, with 200k usd you can get an apartment that in Dubai would cost easly 600k considering ammenities / quality (see Fontana buildings compared to the Address in Dubai).
Also all the rest is much cheaper, there is not that feeling o being robbed constantly for everything you pay.︀
The Residency program with 50k minimum is just the cherry on top, as with 50k︁ you can grab a pretty good apartment and a 10 year visa.
What type of apartment an you get for 50k? Would you buy one of them (in that price category) quality wise? How many SQM and ist already furnished?
2 bedrooms Apartments for sale in Al Juffair - 2 BHK Flats for sale | Property Finder Bahrain quick search on Juffair (one of the most urban areas), 50k are enough for a modern 1br or a little older 2br/110 sqm, but you can have fun with propertyfinder, I will leave you a little impression of the areas:
Juffair: Full of buildings urban area with quite a lot of cheap restaurants,︀ shops, malls and clubs.
Bahrain Bay: Extreme Luxury area, where is the Four Seasons︁ residences, Roberto Cavalli etc.. Expensive but not that much, under heavy development.
Seef: Good︂ and relatively cheap area, close to the previously metioned areas, near to the City Centre︃ mall.
Reef: Kinda like the palm in Dubai, private developed Island with security at︄ the entrance, full of well maintained gardens, expensive restaurants.
Marassi: another island, far from︅ the center, all beachfront buildinds, including The Address.
I think depends on many things: source of funds, personal preferences etc.. personally I︉ much prefer hot weather and no bureaucracy headaches. In CH right now it's 0 C°,︊ here is 20 C° and I'm going around in shorts and t-shirts
Juffair: Full of buildings urban area with quite a lot of cheap restaurants,︀ shops, malls and clubs.
Bahrain Bay: Extreme Luxury area, where is the Four Seasons︁ residences, Roberto Cavalli etc.. Expensive but not that much, under heavy development.
Seef: Good︂ and relatively cheap area, close to the previously metioned areas, near to the City Centre︃ mall.
Reef: Kinda like the palm in Dubai, private developed Island with security at︄ the entrance, full of well maintained gardens, expensive restaurants.
Marassi: another island, far from︅ the center, all beachfront buildinds, including The Address.
I think depends on many things: source of funds, personal preferences etc.. personally I︉ much prefer hot weather and no bureaucracy headaches. In CH right now it's 0 C°,︊ here is 20 C° and I'm going around in shorts and t-shirts
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