Dubai offers golden visas to foreign nationals who invest a minimum $272,000 (nearly Dh1 million) in property.
Tax residence, is the country, in which you are legally obligated to pay personal income tax.
Tax residency, also known popularly as ‘fiscal residency’ or ‘residence for tax purposes’, is undoubtedly an important concept for all tax payers living and working abroad.
For example, an Indian expat living in Australia, is a citizen of India but a tax resident of Australia – as long as he lives and works there.
You can qualify for tax residency in other popular destinations – at a cost, of course!
• In Thailand, the government offers residency visas for foreign citizens, allowing them to live in the country for around $3,000 (Dh11,019) a year
• Citizenship in Saint Lucia costs $100,000 (Dh367,300) in the form of a donation to the National Economic Fund, or you should invest at least $300,000 (Dh1.1 million) in real estate.
• In Dominica, a similar donation to the National Transformation Fund of $100,000 (Dh367,300) or a real estate investment of $200,000 (Dh734,600) will give you citizenship
• In Moldova, a minimum non-refundable contribution to the Public Investment Fund (PIF) of 100,000 euros (Dh622,000) for a single applicant is required.
• For residency in Latvia, you will need to invest a minimum of $333,000 (Dh1.2 million) over a period of five years in a credit institution.
• In Cambodia, citizenship involves a cost of about $245,230 (Dh900,729), in the form of again a donation made towards ‘restoring and rebuilding its economy’.
• In Turkey, citizenship can be given from a cost starting from $250,000 (Dh918,250), if you purchase a property valued as much, among other options.
• To gain residency in Greece, you need to invest a minimum of 250,000 euros (Dh1 million) in Greek properties.
• To gain residency in Portugal or Spain, real estate purchase of at least 500,000 euros (Dh2 million) will give you a ‘Golden Visa’.
Risks associated with getting tax residency through real estate investments
With most Caribbean 'citizenship by investment' programs, the real estate isn’t solely yours. It’s a timesharing scheme wherein several joint owners have the right to use a property as a holiday home.
And even if it is yours, you’ll end up paying a major part of the donation as government fees. This applies to a lot of other countries.
For example, you can invest $220,000 (Dh808,060) in real estate in Dominica instead of donating $100,000 (Dh367,300), but you still need to pay a government fee for the real estate.
In Dominica, the fee is $35,000 (Dh128,555) and the amount only goes up from there in other countries.
SOME COUNTRIES REQUIRE MORE THAN JUST A REAL ESTATE INVESTMENT!
Malta, for example, requires applicants to make a sizable donation, buy government bonds, purchase or rent a home, and live in the country for at least a year to establish a genuine link to the country.
This, of course, is because Malta is in the European Union, which means that its passport is much more valuable but also subject to third-party oversight from the European Union itself.
In Saint Lucia, any connection to the country is not widely much valued. Although you can be done with the process after making the investment, their passport is not considered to be extremely valuable.
In the UAE, residency can be obtained through investment in real estate, which requires a minimum of Dh1 million.
Tax residence, is the country, in which you are legally obligated to pay personal income tax.
Tax residency, also known popularly as ‘fiscal residency’ or ‘residence for tax purposes’, is undoubtedly an important concept for all tax payers living and working abroad.
For example, an Indian expat living in Australia, is a citizen of India but a tax resident of Australia – as long as he lives and works there.
You can qualify for tax residency in other popular destinations – at a cost, of course!
• In Thailand, the government offers residency visas for foreign citizens, allowing them to live in the country for around $3,000 (Dh11,019) a year
• Citizenship in Saint Lucia costs $100,000 (Dh367,300) in the form of a donation to the National Economic Fund, or you should invest at least $300,000 (Dh1.1 million) in real estate.
• In Dominica, a similar donation to the National Transformation Fund of $100,000 (Dh367,300) or a real estate investment of $200,000 (Dh734,600) will give you citizenship
• In Moldova, a minimum non-refundable contribution to the Public Investment Fund (PIF) of 100,000 euros (Dh622,000) for a single applicant is required.
• For residency in Latvia, you will need to invest a minimum of $333,000 (Dh1.2 million) over a period of five years in a credit institution.
• In Cambodia, citizenship involves a cost of about $245,230 (Dh900,729), in the form of again a donation made towards ‘restoring and rebuilding its economy’.
• In Turkey, citizenship can be given from a cost starting from $250,000 (Dh918,250), if you purchase a property valued as much, among other options.
• To gain residency in Greece, you need to invest a minimum of 250,000 euros (Dh1 million) in Greek properties.
• To gain residency in Portugal or Spain, real estate purchase of at least 500,000 euros (Dh2 million) will give you a ‘Golden Visa’.
Risks associated with getting tax residency through real estate investments
With most Caribbean 'citizenship by investment' programs, the real estate isn’t solely yours. It’s a timesharing scheme wherein several joint owners have the right to use a property as a holiday home.
And even if it is yours, you’ll end up paying a major part of the donation as government fees. This applies to a lot of other countries.
For example, you can invest $220,000 (Dh808,060) in real estate in Dominica instead of donating $100,000 (Dh367,300), but you still need to pay a government fee for the real estate.
In Dominica, the fee is $35,000 (Dh128,555) and the amount only goes up from there in other countries.
SOME COUNTRIES REQUIRE MORE THAN JUST A REAL ESTATE INVESTMENT!
Malta, for example, requires applicants to make a sizable donation, buy government bonds, purchase or rent a home, and live in the country for at least a year to establish a genuine link to the country.
This, of course, is because Malta is in the European Union, which means that its passport is much more valuable but also subject to third-party oversight from the European Union itself.
In Saint Lucia, any connection to the country is not widely much valued. Although you can be done with the process after making the investment, their passport is not considered to be extremely valuable.
In the UAE, residency can be obtained through investment in real estate, which requires a minimum of Dh1 million.
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