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Consider UAE freezone. Setup is not cheap, but corp tax 0% (9% after 1M revenue), personal tax 0%. I welcome differing opinions
by a_lex 3y ago
Consider UAE freezone. Setup is not cheap, but corp tax 0% (9% after 1M revenue), personal tax 0%. I welcome differing opinions
- hasty_pudding 3y agoFrom a quick search: As a rule, Free Zone licenses must be renewed every one to three years, and generally range in cost between 2700 to 13000 USD. I don't know if that's accurate or not though.
- a_lex 3y agothis is true, you need to renew it. Example cost for IFZA: 1 year license $4150 2 year license $8165
- nevodavid10 3y agoThe setup fee is so high, that it's basically an exchange for the taxes haha! I also understand I need to pay around 90 days there.
- petesergeant 3y ago> I also understand I need to [stay] around 90 days there. UAE doesn't seem to care in practice, unless you need them to issue you a tax certificate. Your issue there is more with not attracting tax residency in other jurisdictions, and being able to say "I can't be resident in [Canada/Australia/other country with fuzzy rules] because I live in UAE"
- nevodavid10 3y agoHonestly, I think my biggest problem with the UAE is that I am Israeli, and while the situation with Israel and the UAE us good now, how knows what will happen in a few years from now
- petesergeant 3y agoYeah, I get your point. Personally, as a UAE resident (with no other ties to UAE or Israel) I'd see it getting better over time rather than worse, but we're living in interesting times.
- a_lex 3y agoLicense cost is about ~4k per year Total initial costs could be about 10-15k Yes I agree those fees are actually a hidden tax, but it totally depends on your revenue, at some point you can save a lot on corporate and personal taxes.
- oezi 3y agoDon't you still have to pay taxes in your country of citizenship?
- janosdebugs 3y agoTypically where you have your tax residence (where you live), but that also depends on the treaties between the two countries.
- bosse 3y agoTax based on citizenship is a concept unique to the United States and one African country. It is unheard of in the rest of the world’s tax systems.
- u89012 3y agoFree zones are great but last I checked (around Jun) you will need to travel to Dubai every 6 months to keep your PR/Emirates ID active, if you don't intend to live there.