Becoming Tax free in Dubai [Canadian moving to Africa]

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Topic Author
mooudn
Posts: 68
Joined: Sun Jan 05, 2020 10:28 am

Becoming Tax free in Dubai [Canadian moving to Africa]

Post by mooudn »

Hi folks,

I'm a Canadian citizen who will be taking a mining job in Africa next year. from my understanding, the mining company transfers my wages to my business account and I have to deal with taxes from there. For tax savings, I'm planning on breaking my tax ties with Canada (as I will be in Africa most of the year and I have no family ties/investments in Canada) and opening a business account in Dubai to avoid having to pay income tax.

Does anyone know if this is possible and how much it will cost? Do I need to be a resident in Dubai in order to open a business account?

Thanks
Topic Author
mooudn
Posts: 68
Joined: Sun Jan 05, 2020 10:28 am

Tax Free an Option?

Post by mooudn »

[Thread merged into here, see below. --admin LadyGeek]

Hi folks,

I'm a north american national who will be taking a mining job in Africa next year. from my understanding, the mining company transfers my wages to my business account and I have to deal with taxes from there. For tax savings, I'm planning on breaking my tax ties with north america and opening a business account in Dubai to avoid having to pay income tax. I think this is doable as I will be in Africa most of the year and I have no family ties in north america. My north america investments are in an IB Canada account that I can transfer to a more general 'international' or US IB account once I leave north america.

Does anyone see any issues with this approach? Anyone have experience with the UAE? Do I need to be a resident in Dubai in order to open a business account? I'm wondering how i can figure this all out.

Thanks
Jack FFR1846
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Re: Tax Free an Option?

Post by Jack FFR1846 »

You should probably ask this in the Canadian forum. If you are a US citizen, you will forever owe US taxes no matter where you are. Canada is a different story that the other forum can answer. If you're not a citizen of either, Canada people would better be able to answer, I'd think.
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LadyGeek
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Re: Becoming Tax free in Dubai [Canadian moving to Africa]

Post by LadyGeek »

mooudn - In order to provide appropriate advice, it's best to keep all the information in one spot. I merged your threads together and put them in the Non-US Investing forum. I also retitled the thread.

The best advice comes from your home country. As Jack FFR1846 suggests, I recommend asking this question in our sister Canadian forum Financial Wisdom Forum. You'll get expert advice.

Disclaimer: I'm a member of both forums.
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shcnno
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Re: Becoming Tax free in Dubai [Canadian moving to Africa]

Post by shcnno »

Are you sure you don't need to pay any tax in Africa?

Do you need just a business account, or a limited company (business) to send invoices from ? If you can invoice from your own name / sole proprietor then you should be able to use an account anywhere (maybe not Canada if you're trying to break ties to Canada). Check with the company hiring you what kind of requirements they have.
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