ZERO Taxes In Dubai TRUTH - What You Need To Know | Summary and Q&A

TL;DR

Learn how to legally reduce your tax burden by becoming a tax resident in Dubai and the UAE.

Key Insights

• 🫷 The Western world is increasing taxes on the wealthy, pushing millionaires and billionaires to seek tax havens like Dubai and the UAE.
• 🎁 Becoming a tax resident in Dubai requires spending 183 days in the country or being physically present for 90 days with a UAE residency visa.
• 🤩 The key criteria for becoming a tax resident in Dubai include having a permanent place of residency, running a business in the UAE, or habitually residing in Dubai.
• 🇵🇷 US citizens may need to follow additional criteria, including renouncing their US citizenship and living in Puerto Rico, to become tax residents in Dubai.
• 🙃 Owning property in Dubai can strengthen your case for tax residency, but it is not a requirement.
• 💇 The UAE's criteria for tax residency may differ from other countries, and it is crucial to cut off ties and meet the specific requirements of your home country.
• 👻 Becoming a tax resident in Dubai allows individuals to legally pay zero taxes if the proper structures and planning are in place.

Transcript

if you're looking to pay less taxes you're looking to escape the restrictions of the West whether you're a millionaire 100 millionaire billionaire whatever your net worth level is you're seeing more restrictions more taxes like for example the recent Biden proposal in the United States to hike up capital gains taxes to almost 40 percent at least 25... Read More

Questions & Answers

Q: How can Dubai and the UAE help in minimizing taxes?

Dubai and the UAE provide opportunities for individuals to set up companies, obtain visas, and buy property, allowing them to legally avoid paying taxes in their home countries.

Q: How much time do you need to spend in Dubai to become a tax resident?

To become a tax resident in Dubai, you must spend at least 183 days in the country. However, there are additional criteria such as being physically present for 90 days with a UAE residency visa and having a permanent place of residency or running a business in the UAE.

Q: What are the implications for US citizens wanting to become tax residents in Dubai?

For US citizens, becoming a tax resident in Dubai may require renouncing their US citizenship, living in Puerto Rico, and creating a company owned 50% by a non-US citizen. Different criteria apply to US citizens, and it is recommended to consult with a professional for specific advice.

Q: Can I become a tax resident in Dubai without owning a property or having a permanent place of residency?

Yes, you can become a tax resident in Dubai without owning a property or having a permanent place of residency if you have a business in the UAE and you are employed by your own company. However, owning property can strengthen your case for tax residency.

Summary & Key Takeaways

• The Western world is imposing higher taxes on the wealthy, making it necessary for millionaires and billionaires to find ways to escape these restrictions.

• Dubai and the UAE offer a solution by allowing individuals to set up companies, obtain visas, and buy property, thereby paying zero taxes legally.

• To become a tax resident in Dubai, you must spend at least 183 days in the country, be physically present for 90 days with a UAE residency visa, and have a permanent place of residency or run a business in the UAE.