Just spent 4 days in Dubai. Seems like a place is flowing with money, or at least has been flowing with money lately. Anyone making gainz from its development here?
Is that a good place to open a business for an online company? (mobile apps for instance)
> willingly living in an arab nation
you know they take away your passport, poo?
So what, if your want to make money you have to adapt you retard.
there are many, many other ways to make money without compromising yourself. In 30 odd years the desert will swallow that city back up, the sand niggers will have run out of oil, then , what 'business' will remain?
also this, good luck when you get arrested for some trumped up charges because you touched another mans arm.
the only way to succeed in dubai:
hiddendominion.com
>retard.
P R O J E C T I N G
You apear to be quite clueless about Dubai, yea sure you can set up a company with 0 tax live there...BUT WHY? so many better places to be, so many ways to have 0 tax.
Its a big world out there!
tis indeed, I would chose HK over dubai any day of the week. I worked in an offshore jurisdiction before and never did I see so many questionable transactions go through a bank as I did with a HK HSBC.
Literally you can be an african warlord white washing money you have stolen from the 'ppls' and no one will bat an eye.
You pay as a resident in HK... HK is only good to setting up a company while being resident in Bahamas/Bermudas/Dubai/Monaco
You fags are delusionals without a clue of how it works
Thanks for your responses user,
It's actually what Im thinking as well but it's good to see you guys confirming.
It does seem like they have lots of money to invest though. I wonder if it's a good idea to go there for fundraising for a tech startup (and build the company somewhere else).
middle east is the best example of wage cucking.
Probably so much money they don't even know what to do with it. Throw it at anyone that sounds smart probably
they are desperate and dont really know how to business, one generation ago they were living in tents in the desert as shepherd.
Again, I've worked in offshore jurisdictions where the company's do wealth management, and the amount these guys hemirage in money as opposed to say, Russians, South africans, Turks etc. they are just bad at business because they havent really been a developed nation at any given point.
>inb4 persian empire, still backwards religious fucks in those times.
so , screenshot this, 30 odd years time there wont be a dubai like it is today...
Add this small list of countries without CFC regulation
Panama
Georgia
Costa Rica
Nicaragua
Singapore
Hong Kong
Malaysia
Thailand
Sure if you set up a HK company & reside in HK you would pay tax...Has it changed? I have never had a HK company...
well, if you own a yacht in one of these offshore companies you can get away with not being 'domiciled' anywhere, plenty of oligarchs and european monarchs do this kind of thing.
Last I was aware of this it was something like 180 days of the year (to qualify), may have changed now.
clearly, this fag things hes the grand wizard on this thread being the only one to have ever experienced any of this shit.
Let them shit on your back for 70k
>european monarchs buy a yacht from hk company to be registered nowhere
monarchs don't pay taxes you absolute state of stupidity
yes, they hide money outside but registered at their country.
Anyone here has successfuly raised money from angels in Dubai?
nigger why are you so sour, you register a company offshore, you transfer assets into said company.
You can nominate an offshore company act as directors/shareholders on their behalf. They remove themselves from the entity, bar being a recipient of some dividends.
>monarchs don't pay taxes you absolute state of stupidity
Im sorry son, but you are clearly the stupid one, read into dukes, duchesses and their children and extended family. Maybe a queen or kind wouldnt be liable for taxes, but these other folks certainly are.
>yes, they hide money outside but registered at their country.
not at all, there are these things called 'trusts' and much of their wealth is actually stored in these, which conveniently due to statutory regulation are registered in, *drum roll* offshore jurisdictions.
have half a clue boy before you start autisming about a subject you clearly have no idea about
also just FYI, Prince Charles of the UK has trusts set up for himself and his children in Gibraltar, Gurnsey and Jersey, just some insider info for you there.
How do I know? because I was once the poor wage cuck keystroking and authorising distributions to them
>duchesses
>monarch
absolutely not the same you stupid idiot... are you not even able to differentiate?
>there are these things called 'trusts'
and where are these located you retarded kid? buzzword, offshore?
WOW, look everybody, The Dunning Kruger effect!
You don't understand trusts...they can be common law or statue law as an example!
Stop being arrogant, it gets in the way of learning!
now you are just being salty, you've been shown to be a fool and cant take it. Hey user, I forgive you, I would even give you a cuddle if it made you feel better.
to deconstruct fyi though, because your thick head is having a hard time understanding, by a european definition dukes and duchesses ARE monarchs.
>and where are these located you retarded kid? buzzword, offshore?
I believe you were saying..
>yes, they hide money outside but registered at their country.
well they dont have it registered at their country, see point :
>statue law
Yes sir, buy Yacht from HK company so you're registered nowhere. All monarchs do this
Things you learn on Jow Forums
again with your arrogance...Its not worth my time, have a lovely life user...
Since you seem to be well versed in the subject. What book/website do you recommend to follow for someone who's financially/legally illiterate but wants to understand how it works ((im a software dev who's building a new startup at the moment, bootstrapping for now but will lookk for funding later in the process).
At what point of wealth should people worry about all of this?
it does, im sorry for this guys() behaviour, I seemed to have sparked it.
Interestingly trusts began during the crusades, where landowners would go and fight the religious war and need to have their 'estate' entrusted to someone.
The concept of a 'sham' trust is where the beneficiary dictates to the trustee how to manage the wealth.
For example, a trustee should behave a certain way, the family has an artefact, worth £1mill, held in a trust, an anonymous buyer offers x20 that value. What is beneficial for the trust is a neutral decision for the trustee, whether the artefact has sentimental value to x1 member of the family. So, in all rights the trustee is able for the benefit of the trust sell this at a net gain of 19 mill.
BASED user, I wouldn't have wasted my time, your TOO kind user
ok, well I couldnt really advise on books I just worked as an accountant so I learned on the job. it depends on circumstances desu, if you are regularily earning say $100-150k I would say you would be better off setting up an offshore co. whereby you are an 'employee' of the company and the company issues invoices for your work (if your a consultant for example).
One of the best jurisdictions in my opinion to do this as it has the least amount of statutory requirements and tax filing is a Delaware LLC.
Most offshore jurisdictions offer a 10% corporation income tax which is somewhat better than 40% (@100k) in the uk.
Fundamentally though as any accountant will tell you is you want to make it look like your doing as bad as possible on the books, so any liabilities you can rack up by all means do so. Ex-communicate yourself from your assets as much as possible, you may be a $1 share holder (in a $1 issues share capital co. i.e. 100% shareholder) but all you really need to report on is the fact that you hold a dollar in this sense, not what is contained in the company. Because you are free to move assets to and from companies as you please.
Some of the best 'pros' ive seen for having complex structure of shell companies are south african mining oligarchs. But naturally that comes with a level of complexity.
So, to bring this home, look into a Delaware LLC, could be a good option for you, you can contact the companies house there about requirements for setting up. Also if you not so good with paperwork I would also recommend having a wealth management company give you a guiding hand, its their bread and butter and they can offer competative fee's for providing such services.
>ok, well I couldnt really advise on books I just worked as an accountant so I learned on the job. it depends on circumstances desu, if you are regularily earning say $100-150k I would say you would be better off setting up an offshore co. whereby you are an 'employee' of the company and the company issues invoices for your work (if your a consultant for example).
This can screw you over though if you are domiciled in a jurisdiction with CFC legislation, making any income earned in an offshore company taxable in your jurisdiction.
you just buy a yacht from HK company, all monarchs do this
maybe Dubai is a good spot to put some money in, but why would you do that when 5 minutes of fundamental analysis will make it obvious you should buy Resistance DEX.
Seriously, never had such a good clear shot for a 50x
my god, you dont buy a yacht from a HK company, you transfer the 'asset' into an offshore company, thereby ownership resides with the 'entity'.
This shit is accounting 101 guys and gals.
Dubai is that snobby kid with rich parents in your class that nobody likes. Cant wait to see the city fall apart once the oil money stops flowing.
>CFC
there are ways around this, so say you have x2 companies, one is the sister company of the offshore one. Now the principle amount of the company (80%) is sent overseas, and the remaining 20% is paid into the company UK side registered. You pay FULL tax on the 20%, and the reduced corporation tax on the 80%.
Had a client before who had the license for all the slot machines on the various ferries (ireland, english channel, santander, even danish ones etc.) they had their companies structured in this fashion.
its imminent, and you can see how terrible businessmen they are with their frivilous spending on robo cops and what not.
I cant stand most sand niggers I got to say, always have an air of superiority about them but some of the most ignorant and arrogant fuckers.
Kuwaiti's are alright in my books tho.
>This shit is accounting 101 guys and gals.
I swear Jow Forums would be a lovely place if Zoomers didn't come here!
Personally, I don't bother putting time into posts/making interesting /threads some arrogant prick comes along & ruins it!
>comes on Jow Forums and complains when someone educates them on business.
nigger, what you smokin?
>nigger, what you smokin?
Nah, you got it mixed up! I was in NO way bitchin about your posts! THANK YOU FOR POSTIN INFO!
Just talkin about the arrogant cunt that was arguing with you & the onese like him!
Let me get this clear, you mean there are three companies involved in this scheme?
Ah fairs, my apologies.
in this instance, just x2, so you would have your UK company, and then your overseas company, the overseas company is 100% shareholder of the UK company. There is a contact in place whereby 80% of income is distributed to the 'mother' company.
Baisically the 'mother' company uses the UK company like a limb (or tentacle in my mind) to generate income, 20% of this income resides with the UK company, for which FULL tax is cleared on.
This is pretty common practice you see with many companies really, samsung, google, whatever you fancy has a MAIN mother company, and for regulatory reasons will also have an incorporated company in the jurisdiction where they operate to get around things like trade laws etc.
I once worked for a company that was canadian based but couldnt directly trade with iran because of sanctions, so instead used a Singapore reg'd company to distribute stock canada->singapore->iran. (btw sanctions and trade laws change all the time so this may be out of date by now)
Anyway, im rambling abit here, again to bring this home you can have as many companies involved in the 'umbrella' as you like, provided there is a common parent company you could be operating in many countries but have your principle amount transferred to a jurisdiction with reduced taxation. Provided you pay some taxes in the country your operating in, the regulatory bodies that may be (HMRC in uk sense) cant complain.
I recall an instance of where amazon got away with paying 500k£ GPB in taxation one year because it was arguing it was creating jobs and economy and George Osbourne signed off on this (probs got a nice watch as a result), the point remained tho that the income was something like 40£mil for that year...so figure it out
contract* in place
GBP * in taxation,
im a few beers deep at this point in time.
also, you would be amazed at some of the high profile companies I have worked at where directors and alike dont even know what their responsibilities and liabilities are. Where me, as just a number monkey has to educate them, and their arrogance stands in the way (because they 'outrank' me) to the point it comes full circle and the CEO has to order them to stand the fuck down and listen to me.
Im a person that when I know im right I wont back down because we are goverened by laws and statutes, irrespective of someones position, or length at a company I stand my ground and it makes me an invaluable asset avoiding litigation and embaressment long term.
I also abhor this culture in big companies and hence am moving away from the space.
>directors and alike dont even know what their responsibilities and liabilities are
I believe that! so many ignorant ppl out there!
>Im a person that when I know im right I wont back down because we are goverened by laws and statutes, irrespective of someones position, or length at a company I stand my ground and it makes me an invaluable asset avoiding litigation and embaressment long term.
user, agreed, but I am not in corporate life any more! so much ignorance/arrogance! I work for myself RN.
Best of luck in all your endeavours! Your a smart cookie!
I'm going all in Resistance Dex IEO this Q2. No doubt because it will perform well
working for yourself is the only way, I think of this stuff like the zombie apocalypse, it isnt the zombies that are the liability, its the other people!
Not so much of a smart cookie as just fell into this and had a good aptitude for it, also im not cowardly and I get results, stepping on toes of MD's or not, it doesnt bother me.
Anyway's I hope ive laid some ground work for you, anything is achievable, never underestimate yourself, Bezos started out of a shitty garage, Bill gates dropped out of uni with a gambling addiction. Your limitations are only what you set yourself.
All the best!
>Not so much of a smart cookie
Smart ppl don't think they are smart!
money isnt everything you retraded faggot
>literal soddom
will last you about 10 mins
fuck that shithole
>in this instance, just x2, so you would have your UK company, and then your overseas company, the overseas company is 100% shareholder of the UK company. There is a contact in place whereby 80% of income is distributed to the 'mother' company.
would an individual be able to do this for crypto gains? say, when chainlink hits $1000 EOY, will i be able to set this structure up and transfer the assets from myself to the company before cashing out?
it's a good place to start a business sucking arab cock
well, no, LINK wont hit $1k eoy for starters. And as far as income goes from crypto, its such a grey area, some jurisdictions are more relaxed about it (estonia/Bosnia&herzegovina) where as others are still putting regulations in place. The space is so much up in the air about this it almost isnt funny.
What may be a better consideration for this is a trust, nominate a trustee, and yourself as a beneficiary, there often is 0% tax in this respect, the conditions of the trust could be that it liquidates when LINK hits $10 or somesuch, one could argue a conflict of interest if the funder of the trust is the same person as the beneficiary but if you go the route of wealth management companies to represent you the legislation will be watertight in that respect.
So to be candid you are not talking about a continued earning from a company and more a dividend paid scheme when a bond/stock matures.
What price do you think Link will actually hit?
Read Moneyland by Oliver Bullough to get a good understanding of how to structure your companies to avoid tax
lol why are you asking me? nothing will grow that exponentially though without a strong swing to the other side, we are past the golden bull run, that isnt going to come round again for another 100 years or so (if capitalism still exists then).
I have a rule of thumb I feel obliged to share with people on this board. I never, ever make an investment without thinking that there is a 5year maturity date on it.
If you think that you will 'make it' in a years time off of anything in this crypto space, then you are deluded. Chainlink is literally still in developmental stages, so in my mind, the 5year clock hasnt even started ticking yet as it isnt even a finished product....yet...
They live under Sharia law. And I'm not spouting retarded far right bullshit, they actually enforce Sharia Law in the Emirates.
So fuck no.
>Moneyland by Oliver Bullough
Thanks user, just ordered it!
YOU BETTER BE RIGHT!!!! It was a whole £8!
= D
Honestly it's a great book and an easy read. There's another book which is heavier called Treasure Islands: Tax Havens and the Men Who Stole the World.
But it says alot of the same things. If you just want a good overview, Moneyland is great
Thanks user! I saw links for that when lookin for Moneyland, will keep that on the back burner RN
Do you think there's any chance crypto will ever be used to route around the current system on a large scale? Just feels like everything has to be accounted for somewhere before you can legally spend it. Do you think if we get to Mars that will be far enough away from the CIA niggers to just drop 1k XMR on a small nuclear reactor with no bullshit about taxes or money laundering?
well, money and the flow thereof equals power. Absolute power can decide if entire countries fail or succeed, we live in the age where corporations can circumvent countries. And what are corporations backed by? old wealth, not gonna go down the conspiracy route here, but do you think the Rosthchilds will allow new money on the scene to fuck with their plans.
In short no, cases like Elon Musk 'making it' with paypal are isolated in their own right, there will be no massive shift in wealth, there will be no new world order. Everything you touch and own is strictly regulated by a margin that those with real power and influence control.
If you think otherwise, you may aswell be smoking DMT .Throughout our history of the human race, those with ultimate power control everything, the banks, the police, the judges, we are nothing more than naughty monkeys in clothes. Crypto will simply be absorbed into the bigger picture, that is much older, and much more established.
Just my opinion..
OK well related to corporations being able to circumvent countries, is that something anyone can do by structuring everything correctly or do you have to be a company that's big enough to negotiate bespoke deals with governments?
I think we are entering the domain of what constitutes white collar crime, 'its not what you know, but who you know'.
There are crimes that niggers will rot in jail for, certain whiteys will never once the inside of a cell for.
Not something anyone can do, far from it,you need power and influence to execute such things successfully.
Thought so. Reminds me of payday loan guy Scott Tucker who was autistic about studying rules and following them in the most advantageous way. It was pretty obvious that he got fucked over by the state of Jew York because other members of the tribe wanted more payday loan marketshare.
I have to hope crypto and/or moving off earth gives a chance at changing the order of things. The Rothschilds have been around less than 300 years but I guess Jesus was fighting Jew money changers over 2000 years ago.
I think the next few decades should be eventful at least so I won't give up yet.
>Scott Tucker
or Wesley Snipes, you think any of the Jews in Hollywood pay the correct amount of taxes, of course they dont.
But every week they meet at temple and compare mutulated penises and one will off a service to another if the other can do a service to them etc.
Wesley Snipes just thought he could do the same as everyone else without greasing the right palms and it went tits up for him.
Dubai has a population of 94% foreigners
you barely see Arabs in there faggot
lots of Americans, Brits and other Europeans. You'd have to forcibly remove them to bring back them back to the west.... whats not to like? no taxes, slave labor, and an elite lifestyle and safer than all western countries combined
Wish the US had dubai's laws.
No drinking without a license and in designated places and still frowned upon -- The us wouldn't have bums drunk in public parks and no dumbass frat bros. So much idiocracy in America can be attributed to glorified alcohol/ drug use.
Men cannot talk to women they don't know without a real purpose, or they get 30 days in jail -- Imagine a society were women have to come to you and initiate, the women aren't victims because they can send creeps away for a month.
There are literally 1177 times more Rapes per 100k people in America than Dubai.
Literally the Laws are to not be a degenerate. Marriage rates are higher, and their society is more functional.
You say so what, America has more freedom? Dubai has almost 0/1000 prisoners/population vs The us has 7/1000. US has the most prisoners than any country.
If all the liberals cared about women, they would want anti-degeneracy laws like Dubai.
Dubai beats the US everywhere. Also their hotels in the nicest spots are cheaper than shithole hotels in the US. Food is cheaper in Dubai.
Stats don't lie: nationmaster.com
Why is it that "free" apartments in the US with no rules are shitholes and the gated communities with fines and rules are absolute safe spots? We are too free and should tidy up.
>You say so what, America has more freedom? Dubai has almost 0/1000 prisoners/population vs The us has 7/1000. US has the most prisoners than any country.
I love this fact, in the land of the free, murica has the least free peoples.
If I make money online (let's say via freelance dev, affiliate marketing, writing ebooks, whatever) what is the best place to set up a company with no tax? British Virgin Islands?
You can be a software engineer oer there and make 200k-300k/yr tax free working 20 hours a week and not knowing what the fuck you are doing
Lived in Abu Dhabi for 6 months and now in Qatar. Glass this whole fucking region.
How do people find these jobs in Dubai?
Working in the oil/gas industry pays very well I guess but you need the desired skills.
What jobs are available for white Europeans with a non-stem bachelor and a salary of at least 100k $?
Even if you start a company you need a product people are interested in.
Norway, Denmark, Switzerland and Luxembourg have high salaries in Europe. Getting a job in the US isn't as easy as it used to be.
How? I would guess that they hire pajeets for that.
How is Qatar?
>You can be a software engineer oer there and make 200k-300k/yr tax free working 20 hours a week and not knowing what the fuck you are doing
BULLSHIT
The only countries in the world that pays software engineers 6 figure salaries are US and Switzerland. Software engineering is seen as pajeet tier job everywhere else
>would an individual be able to do this for crypto gains? say, when chainlink hits $1000 EOY, will i be able to set this structure up and transfer the assets from myself to the company before cashing out?
More reasons why it will not work:
1) Whatever peak it will hit, would only last a few days so no way you are able to set up the structure in time
2) The structure costs a lot to set up and maintain, so if you do it already you will be paying a lot for some uncertain outcome
3) Tethering up is probably taxable anyway so that is not an option either
you seem very knowledgeable, a lot more than any other user I've seen here myself included. What is your job? Do you offer any consulting services?
European and Americans are like 1 or 2% of the population
90% are pajeets wagecucking in a killer rat race for 3/400$ a month
Living in Dubai means dealing constantly with pajeets trying to scam you just to be able to survive
Just get tax residency there and gtfo, there are zero reasons to live in Dubajeet unless you are also a criminal and you want to avoid extradition
Only poors like Dubai, there is no such thing as “elite lifestyle” with 50 degrees, and breathing sand
Dubai is entering economical recession, many people got fired and most of the Europeans already moved back
Housing bubble is bigger than ever and after EXPO Dubai will be 100% indian
Even rich arabs prefer to move to Switzerland, Monaco and many other better places in this planet
True. It is WAY too hot over there. Avoid.
That kind of thinking is not welcome on Jow Forums.
lmao inshallah
Where do you get these infos?
FANTOM is big in dubai. connections with sheiks. do the math
Why would anyone want to live in the high floors? It can take half an hour to get there.
>Tethering up is probably taxable anyway
afaik crypto to crypto is not a tax event in the UK so that wouldn't apply to me
That center area looks okay. The rest is kinda drab looking. I think arab women are pretty hot. Too many muslims there I would think. Will Dubai end up more like Singapore? With more diversity (non-muslims)?
you're right 73% are poo in the loo indinas
they're still foreigners and not the "local population"
you can mingle with Europeans only if thats what you want to do... that was my point
Would like to go there but they will throw me and my bf off Burj Khalifa
Check out these sweet Dubais!
Dubia is literally built on slave labour. Whole city should be glassed over.
What issues did you have, user?
wrong, it is a taxable event. HMRC have published guidance on this
flowing with borrowed money
ah ffs... guess i should start getting my ducks in a row in regards to tax.
honestly, depends how much you're making. If you're taking out less that £11,300 then it's no real issue as it'll be under the capital gains tax and probably won't get picked up.
If it's more than that, best to use an accountant who can help you get it done for £300 or so. Make sure they have insurance so if they fuck it up, you can claim it off them.
ok, will bear that in mind. also, what if i get paid in crypto for work i do on the side and then i trade it after? how tf do i work the tax on that out? should i just pay an accountant to work it out for me?
Being paid in crypto is personal income tax, so you'd need to show the GBP equivalent of that at the time you received it and pay personal tax on it as such.
Trading you would pay CGT tax on, with deductions for losses also, with every trade made recorded at time with GBP equivalent.
You can claim on all your trading fees on exchanges, as well as fees from crypto>GBP.
It's a huge fucking ballache. I agreed with my accountant that HMRC won't have a clue, and are more likely to go after the people who've received money from crypto exchanges and declared nothing. So we agreed that I would declare money in/out of coinbase and pay the CGT on that. Expecting HMRC will be satisfied enough, and have easier targets to go after.