ZERO Crypto Taxes in Dubai - How to Do It | Summary and Q&A

TL;DR

The recent implementation of a 9% tax in Dubai has caused concerns, but there are legal ways to still pay 0% tax on crypto and capital gains.

Key Insights

• 🚕 Dubai has implemented a 9% tax, but there are ways to still pay 0% tax on crypto and capital gains legally.
• 🥹 Buying and holding crypto for long-term investment purposes is not taxable, while crypto businesses may be subject to taxation.
• 🇨🇷 Jurisdictions like Slovenia, Thailand, Costa Rica, El Salvador, Singapore, and Switzerland offer 0% crypto tax options.
• 🥶 Dubai provides exemptions for free zone companies and small businesses under certain revenue thresholds.
• 🚕 Proper legal advice and compliance with tax regulations are crucial when considering moving residency to a tax-free jurisdiction.
• 🥶 It is advisable to plan ahead and not wait for high crypto prices to cash out, as taxes may still apply if residency is not established in a tax-free jurisdiction.
• 🚕 The content emphasizes the importance of avoiding tax evasion and conducting all transactions legally.

Transcript

the new 9% tax in Dubai and the uee has everybody scared it looks like a bait and switch tactic come to Dubai zero tax but now you need to pay now give me your 9% this applies to prezone companies mland companies anybody making any business income but what about crypto what about capital gains what about stocks what about precious metals how do you... Read More

Questions & Answers

Q: Can I still legally pay 0% tax on crypto and capital gains in Dubai?

Yes, if you are a buyer and holder of crypto for long-term investment purposes, you can still enjoy 0% tax on your gains in Dubai.

Q: Are there any jurisdictions other than Dubai that offer 0% crypto tax?

Yes, countries like Slovenia, Thailand, Costa Rica, El Salvador, Singapore, and Switzerland provide options for 0% crypto taxation.

Q: What exemptions exist in Dubai for businesses regarding taxation?

Free zone companies can enjoy tax-free profits up to 100K USD, and there is small business relief for companies with revenue below 816K USD per year.

Q: What should I consider before moving my residency to a tax-free jurisdiction like UAE?

It's important to consult with a tax expert and ensure that you comply with all legal requirements and properly structure your finances to avoid any potential tax liabilities.

Summary & Key Takeaways

• Dubai has introduced a 9% tax, but crypto and capital gains can still be legally exempt from taxation.

• Buying and holding crypto for long-term investment purposes is still not taxable, while crypto-related businesses may be subject to the 9% tax.

• Other jurisdictions, such as Slovenia, Thailand, Costa Rica, El Salvador, Singapore, and Switzerland, offer 0% crypto tax options.

• Some exemptions exist in Dubai, such as the first 100K USD of profits being tax-free for free zone companies, and small business relief for companies with revenue below 816K USD per year.