I don't read this blog, but as mentioned before there are risks in the UAE , more so outside Dubai, which are at odds with a western lifestyle and justify beeing reluctant moving there - I actually added yesterday some links who support that much more than the unconvincing story about the british couple - even in clubs loaded with hookers and other hot sexily dressed women brushing their butts agains the males around, the security will come over to stop ones from kissing, it's obviously a no no in public, especially in a family place.
If the alternative is Bulgaria and its charming tzigane minority, I'll take Dubai... but there are plenty more choices, which for a reason or another you find unsuitable.
Ah that's too bad.. even if trading via a corporate entity?Consequently your trading income and capital gain sourced from the UK for instance is 100% taxable in Portugal at the regular tax rates up to 48%.
Ack, is that the same case for dividends and interest too? E.g. dividends from UK shares or interest from HK bonds - both taxed at 0% in their source countries for non-residents - thus both would be taxed at ordinary rates in Portugal under the NHR scheme?the source country must have the right to tax your income/capital gain even if it didn't tax your income/capital gain. However 99.99% of the tax treaties exempts non residents capital gains sourced from regulated capital markets and makes it taxable in the taxpayers' country of residency.
Ah that's too bad.. even if trading via a corporate entity?
Ack, is that the same case for dividends and interest too? E.g. dividends from UK shares or interest from HK bonds - both taxed at 0% in their source countries for non-residents - thus both would be taxed at ordinary rates in Portugal under the NHR scheme?
Ah damn.. Well there goes my half-day long dream of surfing in Portugal while paying 0% on investment/trading income and 20% on business..It's funny that you're asking me about this because I spent my week analyzing this tax regime and asking around both Portuguese and British advisors about my options. In short, it wouldn't work.
More than willing, already do.. To what extent can you reside in Malta and what are the tax benefits?Btw presently I think Malta is a good option if you're willing to travel around.
Ah damn.. Well there goes my half-day long dream of surfing in Portugal while paying 0% on investment/trading income and 20% on business..
More than willing, already do.. To what extent can you reside in Malta and what are the tax benefits?
Personally I find Estonia a far better option than Bulgaria because they have a 0% tax rate on retained profit within the entity so you can accumulate some tax free money there and the flat 20% tax on your withdrawals seems to be fair too.
Yes, nowadays banks tend to ask a lot of documents in general. Even 5 years ago it was completely different. I remember about two years ago I got a totally unexpected email followed by a call from Citi to explain certain transactions. A few weeks later I got the same request from Santander then from Standard Chartered. Why? I still don't know. All the transactions was from reputable brokers but they found it suspicious that I quickly forwarded the entire amount to another company so I had to explain that I had to quickly transfer the incoming funds because I wanted to exchange the money from one currency to another and your bank is expensive as hell. Needless to say I still haven't got a response.
Btw presently I think Malta is a good option if you're willing to travel around. If not then Estonia might be a good option. You can buy really nice and spacious apartments for $500k and the 0% tax still rocks.
Dubai... well, it's a touchy topic for me because it would be the best, I repeat myself, the best country on the world if religion wouldn't rule the place. Sunshine on 365 days a year, no tax, no compliance, no registry, no paperwork, no audit requirement, no filing requirement, 1st world city, looks amazing and highly developed, world class infrastructure and so on. The only problem is their religion. I can see that they're doing their best to be as tolerant as possible, I really see but it's just not enough.
For instance they could say that alcohol is legal in hotels and in a couple of bars and clubs. Why couldn't they say that non local citizens whose religion is not Islam, can have sex with whomever they want in their private apartment as long as they're not throwing huge parties and locals can't see it?! This law, this one law would turn Dubai into the best place on the whole world in a second.