Ensuring Digital Signature Lawfulness for Accounting and Tax in UAE

How to eSign a document: digital signature lawfulness for Accounting and Tax in UAE

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 percent tax on billionaires billionaires and millionaires will pay the same tax rates that nurses and firefighters pay because everybody needs to pay their fair share and all these countries have the same philosophy if you're wealthy they want your wealth they want your money how do you make sure to not pay those taxes legally so we don't get into any legal trouble what places to go I obviously promote Dubai and the UAE as a place to set up your company get a Visa buy property pay zero taxes illegally if you structure it correctly but how much time do you actually need to live in Dubai in order to become a tax resident how much time do you need to spend in Dubai and the UAE to not be taxed anywhere else because I personally don't spend all year in Dubai like to travel to different places and multiple bases multiple citizenships around the world so I made this a little quiz for you that you can go through in order to determine if you are a UAE a Dubai tax resident now starting in 2023 and Beyond the first question you need to ask yourself is if you spend 183 days in Dubai and the UAE if you spend 183 days boom you are automatically a tax resident and you can claim tax residency and obviously you didn't spend 183 days anywhere else in the world so you're not tax resident anywhere else for U.S citizens this requires you to renounce your U.S citizenship live in Puerto Rico create a company own it 50 with another person that is not a U.S citizen there's a whole different criteria for U.S citizens if you want me to make a specific video I can make one very soon the second question you need to ask yourself is were you physically present in the UAE for at least 90 days in a 12-month period And this is where the 90 day rule that I've been talking about many many times this is where it comes in have you been physically present in the UAE with AUA residency Visa so if you've been in the UA in Dubai 90 days and you hold a UAE residency Visa most of us are not UAE or GCC Nationals maybe you are from Saudi and you are GCC National obviously this applies to you but most of us are with the UAE residency Visa so let's say you spend 90 days and you have the UAE resnc visa and you have a permanent place to live in the UAE then yes you are a UA tax resident but what if you don't have a place to live for the whole year a permanent place of residency you don't buy a property you don't rent a property long term that's where the next question comes in do you carry out employment in the UAE usually the route that we recommend is to have a business in Dubai you incorporate a free zone company that company is taxed at zero percent if you structure it properly and you do the proper planning with that company we do it for you then you give yourself employment under the company and then you would be employed by your own company but let's say you take another route and you get a golden Visa by just investing in property so that would be a no the next one is do you carry out a business in the US do you run a business in Dubai then yes you would be UAE tax resident so that's why I recommend all my clients have a business in Dubai even if they don't use it even if income doesn't go through the company even if they don't hire people apart from themselves or their family members or their brother or whoever wants to work for the company or actual staff in Dubai they have that business another would be considered a UAE tax resident so look at the criteria 90 days in Dubai having a UAE residency Visa if you don't have a place to live permanently if you don't have employment in the UAE you have a business in the UAE therefore those three criteria would lead you to be a UAE tax resident and was the UAE the place where you habitually or normally reside and are your personal and financial interest in the UE and Dubai therefore you would be a UAE tax resident as well and this is the criteria that the UAE will use moving forward to determine your tax residency so if you spend 90 days your other business in the country maybe you have a permanent place to live and you have a Visa you would qualify for UAE tax residency by spending 90 days in the country that means that the rest of the year you can go to Mexico you can go to Thailand and you can go to Europe you can travel to many different places you can go back home for the holidays but don't confuse 90 days in Dubai and six months in your home country if you leave Canada Australia any other country that has high taxes strong tax residency rules and you spend six months there in some cases more than 90 days there in some cases you just hold a permanent place to live they would also consider you tax resident in that country for example Australia they're famous for tagging people as tax residents even if they have a dog some mailbox in the country or a bank account that they keep a thousand dollars in so when you leave your home country depending on how strict they are you can talk to us we can connect you with a tax lawyer tax expert in your specific country depending how strict your country is you need to cut off all the ties make sure you pass this quiz in the UAE you become a UAE tax resident and then you would legally pay zero percent tax if it's all structured properly if you want to pay zero taxes in Dubai and the UA legally and you want to do it in less than 30 days with a step by step process check out this video right here that will explain absolutely everything and how we do it for hundreds of clients check it out right here