New Tax Havens

[@aaaa25642]

When everyone talks about UAE they don't mention the hidden taxes like license price, you should pay for it 2-4k usd per year. Apart of corporate tax 9%

[@JohnIvan-nk6yw]

cuz every country or state in case of usa has yearly license or renewal price...

[@simonunknown]

Free zone companies are tax exempt.

[@StevenYevski]

If you parking your company in UAE and do only business outside or in free zone its free!

[@ivaniliev8805]

Thanks, Michael I have to admit chasing a 0% tax set up in today's world could be a double edged knife. A good alternative and one which has far less exposure - in my opinion - is to simply find a location where you pay the least amount of tax with the proper substance behind it.

[@OffshoreCitizen]

Agreed. Many other factors should be considered when planning out your life, aside from the 0% tax chase. What would be the place that fits your criteria?

[@CreepyTrendMan]

I think I have some kind of plan ... Tax residency in Cayman , 30 Days minimum Banking in Switzerland and maybe Singapore Spend a max 179 Days in Thailand Spend a max of 90 Days In the UK The remaining in wherever. All of this has nothing to do with a company . It's based on professional self employed Day trading. Happy to pay 20% maximum but anything more is just not fair. I could pay a very low tax in percentage terms by going the lump sum route in Switzerland but I don't want to live there for most of the Year .... Will be contacting You anyway because I would like professional help.

[@michaelgreen5515]

Michael is excellent. Anyone telling you one jurisdiction is correct run a mile from. There are so many factors like citizenship, DTA, your clints suppliers. Substance critical in case your tax authority comes after you.

[@OffshoreCitizen]

Thank you. Appreciate your support and insights!

[@westernkentucky5956]

Howdy. Good video. BTW, typo up above. It's Cyprus, not Cypress. Cheers.

[@istvan.lovasz]

Excellent material as usual! As you may have read, the DTA between the US and Hungary will be cancelled on 1 Jan. I would love to see a video on how this will change the business relations between the two countries. I think it is relatively rare but not without precedent.

[@yusufg9674]

Thank you Michael ❤ Can you do a video on the current state of UAE corporate tax rate? First they said free zones will be exempt. Now it came down to a very narrow set of situations where it’s true. Even zones like DIFC which promised and even had laws exempting companies from tax for 50 years plan to charge 9%. Is there a strategy to still enjoy zero tax operating from Dubai for most companies? Good thing they have no CFC rules but they do have management and control rules. Is it better to register mainland companies now or there’s still some benefits to free zone ones?

[@guusgeluk3693]

Taxes seem to be increasing anywhere and it becomes harder and harder to get good options to not get stolen from the hard work one does.

[@OffshoreCitizen]

What are your options?

[@bboulnois]

Thanks again for your content - I always come away thinking that if someone tries to go it alone without someone of your calibre it’s an absolute minefield.

[@OffshoreCitizen]

A pleasure! Always best to consult an expert. Anything you'd like to see next?

[@stevemyers2092]

Thanks Michael, have been waiting for something like this...appreciated.

[@OffshoreCitizen]

Our pleasure! What are your thoughts?

[@julienlesehan900]

Hi.i really appreciate your video to help to debunk the tax system. Could you do one for personal tax and crypto? Please

[@markmartin7384]

Id love to hear more about Estonia, such as tax benefits, doing business and living there as a digital nomad

[@OffshoreCitizen]

Covered something similar in a couple of videos: kzbin.info/www/bejne/r3fIgKWXYrKBmJI kzbin.info/www/bejne/b33CkJV3qNd_n9E kzbin.info/www/bejne/goW6e2WlbNysZrs

[@FinancialFreedomLifestyle]

this was great! Thank you for the content as always.

[@OffshoreCitizen]

A pleasure! What are your thoughts?

[@nayanmipun6784]

Include the nations with high individual freedom as well. And pro life nations as well

What about Luxembourg? What can you do with it?

[@voi2100]

If you live in the UAE, would you rather open a crypto prop-trading company in the UAE and pay this 9% (could be decreased to 7-8%) or open a company in Jersey and build a substance there and pay 0%? Which one will be more reliable in the future?

[@DEEPSTRETCHING]

What about Lettonie 🇱🇻 ? I’ve heard it’s good place for taxes

[@H80989]

Would you say bahrain over uae?

[@profbradleywilson]

Can you take an example for say a panamanian or paraguay individual tax resident (company coukd be as well) with wyoming, new mexico ibc and UK llp. Non us cjtizen.. income, dividends and royalties. WITH merchant.. slow it down please!

[@beca8898]

Should do a video on crypto holders who want to move their crypto into a protected trust or LLC jurisdiction. No one talks about these options online. Maybe it’s not possible?

[@OG-Brand]

Can i set up an IBC in Belize or Nevis and have the Banking set up as a Living Trust? I am new to all of this

[@OffshoreCitizen]

Depends on all the circumstances involved. Probably best to reach out so we can discuss all the details

[@julliusschneider1377]

In terms of a definition of a tax havens, do you strictly refer to the registration jurisdiction of the enterprise or you refer also the the location of the bank account? For instance, if one owns a compani in Panama, and this company operates an account in Florida, Panama would not tax the company based on the fact that there is not real invoicing in the Panamanian territory and money flows abroad. USA would also not report the UBO country as USA is not part of CRS? Am I assuming correctly?

[@OffshoreCitizen]

Bank location almost never had anything to do with tax so we're talking about registration country

[@seaspeed18]

What about Gibraltar?

[@osifomrygonen]

Why US LLC dont get so much talk? it seems like pretty straight and simple structure

[@OffshoreCitizen]

Correct. We often cover LLCs and many of our clients opt for them. It can be a great solution in many cases

[@osifomrygonen]

thank you for your answer! if i have an LLC and also a non dom in Cyprus so technically i can combine the two and take dividends from the LLC to Cyprus? @@OffshoreCitizen

[@nampmaljr9294]

Good stuff Michael. Keep up the good work. Curious where did you choose to Expat?

[@OffshoreCitizen]

Thanks! I chose Dubai

[@MrGreen087]

How is wages tax free for a resident of Estonia?

[@OffshoreCitizen]

It's not, it's tax free from an Estonian company if you are abroad (you might still be taxed wherever you live so it might only be a deferral structure, which in itself can be useful)

[@mattball7074]

Exactly. The list is purely political. I think it only matters if you live in the EU or have to bank in the EU

[@Leonardo_A1]

Hi Michael a very nice Video and good summarization of actual Status.It will be great if you could create a Video about a Trust. For me its quite complicated to trust a trustee. I know in Britain its quite common to use a trust. So what is your opinion aboutmTrust. Aah and & am still waiting on your commentvafter you leave Bulgaria (because of missing luxury). So I like Varna its very nice. Golden Strand its nit my case. So have a great time in Emirates Cu Leonardo

[@OffshoreCitizen]

Thanks! Actually made multiple videos on trusts. You can check some of them out: kzbin.info/www/bejne/b2PdYqZ-mbyela8 kzbin.info/www/bejne/lZanp6Owgs6aY6c kzbin.info/www/bejne/eqjCq42noK-jq7s kzbin.info/www/bejne/rnezm6dupq2aZ68 kzbin.info/www/bejne/epmnlaubeLmbarM kzbin.info/www/bejne/oWLdeIyiatSEftk kzbin.info/www/bejne/bWGVmqZjadOrjck

[@20kevron]

They make it seem like it is a bad thing.

[@20kevron]

Canada😮

[@bobbybeast1000]

thing about tax havens is you STILL pay residency or withholding tax to the country your funds are in !!! How do you get around that? You cant !!

[@OffshoreCitizen]

Depends on your personal circumstances. Each case is different, so we work in-depth with our clients to create solutions tailored to fit their situation best. Feel free to reach out in case you have any questions

[@profbradleywilson]

Such as.. can you explain a hypothetical example of this going through to $ distribution.

[@bobbybeast1000]

@@OffshoreCitizen I did, couldn't get a straight answer, only a membership pitch - there's no way for a Canadian with Canadian ETFs/ Split funds to not pay the CRA legally - impossible !!

[@DonGriffinJr]

Love your content! How can I get in contact for a potential partnership?

[@OffshoreCitizen]

offshorecitizen.net/contact/

[@vakuzar]

Let’s say you made apps and just delt with Apple, at that point anything should work, no?

[@JeremyJenner]

You are so cute 😍

[@zorro6010]

Fanboy?

[@ywueeee]

we need crypto vidoes