Is Dubai Really Tax Free?
Вставка
- Опубліковано 17 вер 2024
- In this video I'll be talking about how the tax system in Dubai works, how I transitioned from having a Danish company to a Dubai Freezone company, and what the difference is between a Freezone vs. a Mainland company!
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Hey! 👋
I'm Rasmus Gutfelt, owner of Minix.
We help DTC eCommerce brands add an extra $150k - $250k to their monthly revenue through UGC and omnichannel paid advertising on a performance basis.
I've been working with eCommerce brands since 2017 when I also started my own eCommerce brand.
On this channel I'll be sharing all the insights I've gained since then, having worked with 100's of cool and unique brands!
Want to work with us?
Book a free audit call: www.minix.co/c...
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Join me on my journey here:
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Again Thank you! Very simple and helpful.
Glad it was helpful!
Thank you for another great video. Please make more when you have time.
My pleasure, glad you like them! If there’s any specific information or topic you’d like me to cover, let me know 🙌🏼
Thanks for answering my questions Rasmus!
My next question is: "How is the healthcare in Dubai?" In my country you get paid back the money for healthcare (atleast an amount).
Good question! You need to have insurance for healthcare here, so it would work the same as in the US etc.
You’re the man! 🙌🏼
i will move to dubai this year , thank you very much for clear and helpful information
Glad it was helpful!
Hi Rasmus, I just wanted to say thank you for sharing all the valuable information about your agency. I do have a question regarding your invoice and accounting process. Could you please tell me what platform you use for these tasks and how much it costs? Additionally, I am curious about how you manage your accounting. Any insights or advice would be greatly appreciated. Thanks in advance!
if you're ok with sharing - so is the setup basically become non-tax resident in Denmark (exit taxes, etc.) and then become tax resident in Dubai (with visa)? You are still Denmark citizen so you can always come back in the future and re-active tax residency status way later on? And from what I've gathered living in Dubai is generally a temporary thing? It seems like there's a constant time limit until you have to renew visa
Yes, you got it right. My Emirates ID (visa) lasts for 3 years and then i have to renew it. I can always become a taxpaying citizen in Denmark again if i stay there for longer than 3 months at a time!
@@rasmusgutfelt correct me if i'm wrong but i heard from someone that if you start your own business in Dubai, you are not allowed to own it fully (that a UAE national has to own at least 51% of it). This surprised me - please correct me if this is wrong.
@@SKEVAULTthat was in the past.
The explanation iv finally been looking for 😂 why can’t everyone else make it so simple. I don’t know if you covered it in another video but what was the cost with all the fees included of setting up your company?
You’re welcome 😂 You’ll find it here here: How To Set Up Your Dubai Company: Everything You Need To Know
ua-cam.com/video/ZKZBs8OE5mI/v-deo.html
Here i go over every document i had to fill out etc. during the process
hey, from your prior videos it seems like moving to Dubai was a relatively fast process. if you don't mind answering (i know its not tax/legal advice), i assume because you become tax resident in Dubai, there might have been an exit/departure tax from your home country? Did the emigration services you used handle this too or did you have to handle it with your own accountants?
I didn't have an exit tax because i sold the stocks i had instead of getting taxed on it. I had an accountant walk me through everything
Can you do a video on what the people there are like and lifestyle differences? Right now I imagine it as being full of dropshipping gym bros and escorts with too much filler lol