Hi guys,
I've been lurking in the background of this forum for a while now and thanks to many of the resources on here I was ready to enter into the real estate market last year.
I had saved up a $85,000 deposit, finished my studies, had a salary and a strategy in place (buy IP with a view for CG and then later turn into +CF)
Then a great opportunity came along for me to move to Dubai and work in my field (property and construction) so I took it. Without trying to sound ungrateful, with the opportunity also came a major change in the way I started to think about my goals and obviously my strategy had to change..
Part of my role requires me to travel around to different countries quite a bit which was costing me a lot in international exchange fees with my bank account so this led me to look into offshore bank accounts. I then combined some of this research in with my goals to continue to invest in Australian RE and I read a lot of information about trusts structures and offshore banking used by expats to take full advantage of taxation laws but it is still quite unclear to me. Apparently there are some big investors out there who are exempt or at least heavily discounted from income and capital gains tax using such strategies, this combined with a residency in a country that is tax free.. there must be a way to take full advantage of my situation (not to mention the Aus dollar movements at the moment)
I know what your thinking, I haven't really asked a question, well it is quite complicated and I don't want to bore you with a page long thread but basically is there anyone out there who has had experience with offshore accounts, expat investment in country of birth all combined with some sort of trust structure? and if so what are your thoughts on it? how does it work? and ultimately what is the best way to go about setting up such a thing?
Oh and how are these people out there doing it because apparently its been proven that they are ..legally of course.
Any comment would be much appreciated as you can imagine I am overwhelmed a bit by this new situation, after sorting everything out back home its like I have to start over again.
Thanks in advance,
AJ
P.S. Don't worry I will definitely be Skypeing my accountant about this as well.
P.P.S Any comments on real estate in Dubai would be interesting as well (2020 is approaching which will have a huge impact)
I've been lurking in the background of this forum for a while now and thanks to many of the resources on here I was ready to enter into the real estate market last year.
I had saved up a $85,000 deposit, finished my studies, had a salary and a strategy in place (buy IP with a view for CG and then later turn into +CF)
Then a great opportunity came along for me to move to Dubai and work in my field (property and construction) so I took it. Without trying to sound ungrateful, with the opportunity also came a major change in the way I started to think about my goals and obviously my strategy had to change..
Part of my role requires me to travel around to different countries quite a bit which was costing me a lot in international exchange fees with my bank account so this led me to look into offshore bank accounts. I then combined some of this research in with my goals to continue to invest in Australian RE and I read a lot of information about trusts structures and offshore banking used by expats to take full advantage of taxation laws but it is still quite unclear to me. Apparently there are some big investors out there who are exempt or at least heavily discounted from income and capital gains tax using such strategies, this combined with a residency in a country that is tax free.. there must be a way to take full advantage of my situation (not to mention the Aus dollar movements at the moment)
I know what your thinking, I haven't really asked a question, well it is quite complicated and I don't want to bore you with a page long thread but basically is there anyone out there who has had experience with offshore accounts, expat investment in country of birth all combined with some sort of trust structure? and if so what are your thoughts on it? how does it work? and ultimately what is the best way to go about setting up such a thing?
Oh and how are these people out there doing it because apparently its been proven that they are ..legally of course.
Any comment would be much appreciated as you can imagine I am overwhelmed a bit by this new situation, after sorting everything out back home its like I have to start over again.
Thanks in advance,
AJ
P.S. Don't worry I will definitely be Skypeing my accountant about this as well.
P.P.S Any comments on real estate in Dubai would be interesting as well (2020 is approaching which will have a huge impact)