How to get TAX Residency Certificate in UAE? (Do you even need one?)

[@bbrebozo6417]

A residency certificate might be more essential for a brokerage account than to a government from the standpoint of withholding tax. Actually residing in a location with little or no tax is for sure safer than relying on a piece of paper.

[@MichaelRosmer]

Yes 100%

[@thecontainerthecontents6889]

so really all that matters ultimately is where you live -- at least where you live over 180-183 days per year anyway. Good info thank you. Maybe a good video would be focusing on the best places simply to LIVE for tax lowering purposes. I'm sure there's many, but maybe you could do one video covering asia, one for europe, etc. So many people are focused on where to form the company, when that's clearly the much less important factor in an individual's tax planning structure.

[@jvm-tv]

Great content Michael as always. What would be the best set up for an Australian (or Canadian) perpetual traveller to minimize their taxes and also keep their home country tax office off their back?

[@thecontainerthecontents6889]

but the problem is, every time i try to open a bank account, they want to know my personal tax ID, and ask a bunch of tax questions. maybe that is why having a tax residency cert is useful now - -simply for dealing with banks nowadays who have become ultra tedious and full of bureacracy

[@OffshoreCitizen]

Yeah they want to put it down but that's fine. In most cases they know UAE doesn't have taxes

[@franciscolacorte5958]

Hello can i ask where and how can i get tax recidency? Because bank requires its when opening an acount. Thanks for reply

[@yahyamohamed339]

If a Canadian was to become a non-resident and get a UAE tax residency, would that mean all thier perosnal income, capital gains & dividends would be taxed in the UAE? Also would the individual have to denounce their Canadian citizenship for that matter?

[@MichaelRosmer]

Canadian taxation has nothing to do with citizenship so no you don't have to give it up. The tax residency certificate really isn't the issue, the issue is cleanly ending your residency in Canada by cutting your ties

[@yahyamohamed339]

@@MichaelRosmer Basically meaning that you would file to become a non=resident of canada

[@MichaelRosmer]

@@yahyamohamed339 that's only a small part of it. The big thing is severing ties. Residency in Canada is a question of fact and the facts need to show that you're not resident there

[@KJ-bc3de]

@@MichaelRosmer Lets say you were able to several all ties, no primary and minimal secondary ones. Can you simply leave and not inform Canada of anything, or do you have to get proof of tax certificate, or a residency card and provide it to them? Or do you only provide this in case of an audit? Or must you rent an apartment, and have no property for available use in Canada? How about the tax treaty? It all just seems so convoluted and Im getting tired of all the red tape

[@bobo-uv9ls]

@@KJ-bc3de I think it's intentionally vague in a way that allows them to come after anyone so they please. I've heard of cases where governments demanded tax payments from individuals because they were paying for a mail box in their home country. Basically they can reach out and use anything as a justification to claim you are a resident and their check list is made vague so they can interpret it however it is convenient for them. And as Michael is saying a tax residency certificate is something they will pretend doesn't exist. Obviously the courts will side with whatever is better for the government.

[@Joe-zq1xf]

Awesome content, is Dubai the best place to cashout crypto gains for someone who dont mind relocating there for 6 months or more? It seems to me that they will not charge you there or any crypto gains unlike in Portugal where you can be still considered a professional trader.

[@greekwoods]

Cashing out is still a problem from exchanges. You need to provide source of funds. i.e your precious onramp source. Yes, you don't have to pay any tax in Dubai even if you are a professional trader. i.e., you trade full time for living. Portugal , it's only capital gain tax exemption for crypto investment not for pro traders. Good luck.

[@onlyslavesareequal2790]

So to be tax resident of UAE you dont need TRC so... can you just use residence visa in case there would be some audit?

[@WallStreetIceCream]

Thoughts on Istanbul vs Dubai for an American to live ?

[@MichaelRosmer]

Quality of life in Dubai is way higher but it's way more expensive and summers are really hot. Personally, and this is only personal preference so take it for what it's worth, I'm not a huge fan of Istanbul. I like Turkey it offers a lot is unique etc but I don't find Istanbul to be a very accessible city, whereas Dubai is the opposite it's super accessible. You can compare things like traffic and getting around (much easier in Dubai). This being said I've had amazing service in Turkey and some of my best hotel experiences have been in Istanbul.

[@WallStreetIceCream]

@@MichaelRosmer thanks for the insight I’ve lived in California my whole life just had enough of it doing some research on places where it’s accessible don’t need a car has a world class airport and where it’s not difficult to get a residence permit

[@MichaelRosmer]

@@WallStreetIceCream ah ok cool. So some places might be Malaysia, Thailand, you could do Istanbul or yes Dubai (in Dubai I'd recommend getting a vehicle, you don't need one but you'll save a lot of money having one vs uber)

[@JoyboyNika]

100% istanbul for better life. Dubai for business

[@BossChronicles]

Antayla is nice

[@Wale33d]

*** Update*** it's only 90 days now to get a Tax residency here in the UAE

[@82aziat]

Hey mate, are the UAE giving you the tax certificate after spending 90days? because some people experienced that its actually not true and they issue it out only after the 183 days.

[@fazalrahmam3164]

How do I change my company name in VAT certificate...?

[@ryanlagura4608]

Sir..can you help me where i can get freezone certificate

[@franciscolacorte5958]

Can i ask where and how to get tax recidency

[@NinoMaluri]

Liked

[@rj9980]

🤙🏽