Hi all
I have a query relating to my current resident and tax status. A quick summary:
· I began investing in US Domiciled EFT’s 2 years ago as a resident living and working in Ireland. I used dollar cost averaging and invested monthly
· In August 2016 I moved to the UAE and since then I am earning a tax free salary
· I have continued to send money back to Ireland monthly and continue to use dollar cost averaging
· Question: Is this the most sensible way to continue investing, or is there a similar way to take advantage of my tax free residency in the UAE (offshore account?) and what would the tax implications be?
· On my EFT’s, I generate dividends (not a huge amount). Am I still liable to continue paying income tax on these, considering I am living outside the country in a tax-free environment. Or am I still considered an ordinary tax resident for 3 years since leaving Ireland? I’m using Degiro and currently US dividend tax is taken at source (15%)
In summary, I’m not sure if the above investment regime is maximizing my current resident status in the UAE. Any advice would be welcome.
I have a query relating to my current resident and tax status. A quick summary:
· I began investing in US Domiciled EFT’s 2 years ago as a resident living and working in Ireland. I used dollar cost averaging and invested monthly
· In August 2016 I moved to the UAE and since then I am earning a tax free salary
· I have continued to send money back to Ireland monthly and continue to use dollar cost averaging
· Question: Is this the most sensible way to continue investing, or is there a similar way to take advantage of my tax free residency in the UAE (offshore account?) and what would the tax implications be?
· On my EFT’s, I generate dividends (not a huge amount). Am I still liable to continue paying income tax on these, considering I am living outside the country in a tax-free environment. Or am I still considered an ordinary tax resident for 3 years since leaving Ireland? I’m using Degiro and currently US dividend tax is taken at source (15%)
In summary, I’m not sure if the above investment regime is maximizing my current resident status in the UAE. Any advice would be welcome.