Definitely looking forward to next video - being based between Dubai and Oman could be really interesting solution. Keen to know more about buying real estate or self building a villa in Oman for sure
I crossed off that area of the world like 4-5 years ago. I crossed off Dubai being sandwiched between Iran and Yemen even before the drone attacks. So Oman being sandwiched next door to Yemen's roving armies that are looking for passage is a no go. I crossed out Georgia especially after the Ukraine war and Russia's past expansionism. After the Ukraine war, I gave up on the Balkans. I don't want to be even remotely close to war, nor northern hemisphere nuclear fall out. It is South America, Central America, and the Caribbean for me - maybe Polynesia area if it weren't' for family and pets right now. So that is my opinion. Move with wisdom and prudence, people.
In that case either the Caribbean or Vanuatu. There are 2 countries in the Caribbean that have 0% PIT. Vanuatu is all round 0% tax if you genuinely live there - can still have a holiday for a good chunk of the year once tax resident there and once your centre of life is there.
Good video. Oman has a lot going for it. Probably the most stable country and government in the region. One of the best education systems anywhere in the world too.
@@OffshoreCitizen I should've said K-12 education. Their government provided eduaction is above that available regionally but the American and British schools provide really good education on par with private schools in the US and UK (public) with very few exceptions.
I think the problem with Oman is the following: 15% Corporate tax. 0% income tax is nice, but let's be honest. Westerners are not going to work for an Omani company and live in Oman all year as an employee. The advantage of Dubai is that one can start a Freezone Company there and then work remotely while traveling around the world. Only 9% tax after 100.000 dollars and around 9.000 dollars are year to maintain the company, which basically comes down to 9% total tax. You only need to be in Dubai for 24 hours per 6 months in order to maintain the whole thing.
You're not really thinking about this in the right way. You don't need to work for an Omani company to benefit from the low tax. Oman is very similar to UAE with respect to tax. It's just a question of what kind of lifestyle you prefer. Most people long term don't want to travel continually
Hi I had an appointment in Dubai this week to set up a free zone company and the 9% tax is for mainland registered company so I “think” if you dealt with non uae customers you could void this 9% tax… again I’m just at the research stage myself on this subject myself.
I moved to Oman 4 years ago after visiting regularly for 10 years. Some great options for residency by investment starting as low as $100k, but this is going up every year!. happy to help you with research for your next video
Oman is also more politically neutral compared to other Arab countries. They have good relations with Arabs, Iran, and the west. Post about residency please.
@@kawartiepeople with money go there They work from computer I know people went there love it there and work for theyre business located in uk or other countriy
Sounds fun, but I'm kinda thinking to relocate from Plovdiv, Bulgaria to Batumi, Georgia at some point. I would likely eventually buy a 1 or 2 bedroom in Batumi and customize it to my liking. I used to live on just 20m2 in Japan for an entire 4 years, so I could easily redo that with a few tweaks. But this time with 60m2 and a single fixed bed. I don't want a sofa, don't want a dining table. I don't even want a TV. Just a computer desk. The rest of the space should be highly flexible, Japan-style. I might go with some tatami. The joys and health benefits of sitting on the floor are likely underrated in my opinion. And the ability to turn a square of space into a VR space or exercise space on demand is cool. I might head over to Batumi in January to explore apartment complexes and get a feel for the various construction companies there. The weather in Batumi is highly acceptable, with mild winters similar to Bilbao in northern Spain. Contrarily, the winters in Bulgaria really aren't all that awesome, as you've remarked before. And here in Plovdiv, mid-summer really is oppressive (often 36 'C or higher), though it's worth it given the cheap rent and walkable nature of the city, I suppose. That said, I don't feel a need to walk anywhere that often. Central Sofia would have suited me well also. I'm not gonna rush my decisions ahead, but Airbnbs are so insanely cheap in Batumi, it would be a great little trip. 300-400 EUR for an entire month at an Airbnb there nowadays!
@@OffshoreCitizen Initially I chose Bulgaria as a starting point because they opened up quickly after Covid, whereas Georgia sounded somewhat authoritarian because they were handing out fines to people who didn't wear masks in public offices. Anyway, I ended up getting a tax burden around 15% on my low-ish income while in Bulgaria, so I was prompted to relocate to Georgia. I can't recommend the large-ish Sofia-based company I used in Bulgaria, but ExpatHub are excellent here in Georgia. I'm starting to get settled here, but I am now considering Oman, UAE, Cyprus as backup plans. I think as long as the 1% tax incentive remains relevant to me in Georgia, I'll stay. Oman would be a wonderful place to hang out. As much as skyscraper skylines look cool, I am starting to hate elevators. There is just no advantage to having to wait in line for an elevator, and they tend to install the minimally viable number of elevators in Batumi's buildings. I arrived in Batumi during the start of summer, but I may still consider Tbilisi later. I sure hope they don't end up removing the 1% tax incentive anytime soon. I am tempted to buy in Batumi, but if I end up going to Oman, UAE or even Malaysia within a couple of years, then it may not make sense for me to purchase. On the other hand, I can get a very decent apartment in Batumi for something like 100k USD that would cover all my needs, so the temptation to buy here will remain!
UAE and Oman are quite safe for women! UAE might actually be the safest country in the world. Crime is virtually zero. Egypt on the other hand might be the most unsafe country I’ve ever been to, and I traveled quite a bit. These are 2 different universes 😄
People in Western countries often receive information that is influenced by their politicians and media. It's enlightening to learn about the diverse and positive aspects of this beautiful country.
You can get residency for buying property in Oman. The price doesn't matter. I bought an apartment myself in Muscat and can gladly help with finding and buying property for foreigners from the best developers.
Air quality in gulf countries is very bad and is a deal-breaker imo, in addition, in the next 20-30 years the temperatures should become even more unbearably hot. In other countries with poor air quality (like in SEA) this will be largely solved by electric vehicles, increased public transports infrastructure. The key point is their pollution doesn't come from 'natural' causes due to geography like sandstorms. In older age, definitely don't recommend being in the middle east.
I'd say these countries are perfectly good with rising temperatures as they are already used to the heat unlike many other places. Another degree or two won't make a difference. Air quality is a frustration for sure
The air quality in Dubai is a nightmare. Always several times above average pollution. Most children develop asthma and lung issues. The heat is unbearable. You’re basically breathing fungus from the ac systems for 7months of the year.
Have considered visiting Oman for many years now but never thought about living there. Would like to know your take for retirees living in Oman (i.e., healthcare, tax on foreign income, infrastructure-is a car necessary?). Thanks. 👋🏻
Oman is at the top of my list. We checked out Cyprus this year and will probably go to Oman in 2024 with the family to see if it could be our tax residency. Have been to Oman once 9 years ago as a tourist...it was awesome
@@OffshoreCitizen it was a long time ago and we did a tour with "Explore" a british based travel group. We were in and around Muskat, went and did a full day through the sand dunes and stayed in tents for a night. Did a boat tour on one of the old looking ships and had coffee and dates. They sure love their dates there. Went to the sinkhole, big canyon and yitti beach. Visited some locals and visited some local tribes. The people were extremely nice. Definitely some stuff I'm forgetting.
We rented a car in Dubai about 5 years ago, then drove over to Oman. The border crossing process was a little convoluted, but doable. Driving in Oman though... yikes. There were 2 instances in just a few days in the country where my above-average driving reflexes saved us from being a traffic statistic. Much preferred driving in the UAE and even Jordan with all of its apparent road chaos was a much less hair-raising place to drive. Otherwise though, we really enjoyed our few days in the country. We wandered around Muscat and found it pleasant but nowhere near Dubai levels of development and things to do. I think as a place to live a good part of the year, only suited to the most adventurous of Westerners. For every 20 people that could handle Dubai, I would say 1 of them could consider Oman. I'm sure that could change in the coming years, just as Dubai evolved to become more suitable for expats. But yeah, well worth a visit if nothing else!
@@OffshoreCitizen No argument there. I also feel that it is still in its infancy for Western folks to feel at home there, even the ones who enjoy tradition and nature. I can definitely see heading back there sometime in the next few years to see more of the areas outside the capital. Might go with a driver this time though. My heart is a few years older than the last visit. :)
A lot of places are better than Dubai. The Gulf nations are not going to improve. They will decline rapidly over the next five years. The main reasons are economic and religious. Oil is being replaced by renewable energy and electric vehicles. Religious influence from Arabs and Persians has been exposed as a scam. ( a trick to gain power of other cultures)
@@OffshoreCitizen Like you said, the culture, the wildlife, scenery and history make it a much more authentic place to live. We saw the Oryx, turtles laying eggs on the beach and whales, sharks and dolphins too, plus had a great time in the dunes, visiting the Bedouin. Still can't beat it here in Montenegro though...
Frankly, that depends which part of Dubai you are talking about. Oman is MUCH cheaper than high end Dubai, and pretty much the same as the less "influencer" influenced areas. So, cheaper by far than the Mall of Dubai, and much like Bur Dubai or Deira.
If a company paid out all its profits to an employee as a salary the the company would have no profit to tax... And the employee is zero rated ..or am i mis understanding that senario?
How is the internet quality there for mobile and landline? You get copper or coax or optical for landline internet? You get 4G or 5G for mobile internet? Cost?
AFAIK they do not have a separate program for retirees. There is Oman Investor Program which, obviously, requires an investment and a valid private health insurance which I suppose can be a problem once you get older. Maybe look into Qatar PR if you have a 1 mil USD to spare as it comes with free healthcare and free education for children under 18. Honestly the best deal in the Gulf in my opinion.
Oman has been on my list for a while now--for many unmentioned reasons--theres two things that I think of though, I believe the real estate option in one of those zones must be done in cash (?) & i dont have it And technically its illegal to live with my girlfriend
The residencies by real estate investment always require it to be cash yes (you usually can't get mortgages in a country as a foreigner anyway) so sometimes it's better to focus the time and energy on growing the wealth up create the optionality
Amazing foresight, Michael. I heard that a downside is there are many empty buildings and it isn't very easy to get real estate rental yields. Though it might be not that true anymore. Will listen to you and research more ! (really thought you were in Alicante because of the castle and the nature so similar xD shows that it's not that desertic)
Oman is old school...of the. British empire . None of the vulgar flashiness of the u.a.e , or forboding nature of saudi . Its so far off the beaten track that honestly speaking youre doing it a disservice by blogging about itt. Keep it to yourself and delete the video would be my big ask. Why expose the place ,only so that tourism and commercialism get out of hand like that gawdy expensive dump dubai not too far away?s ?
I lived in Oman...on the ground...basic...EFL teaching for 5 years..93/98....exotic, beautiful, welcoming, removed from the Dubai bling....but, remember I lived there...I did not vacate...it was ...for at least 5 months of the year...an open air sauna....no respite...no way out..I have a yearning love for the place...but I will never go there again...but this is a different venue for this type of experience...unless you are a groupie of extreme humid to the max heat....none of us were in the millionaire status of this channel...but we did breathe the same air....
@OffshoreCitizen I was in a compound in Seeb....a half hours drive west from Muscat. It was 94-98 and Oman was a very different...some might say purer..place back then. It was ...and no doubt still is...a relative backwater compared to its brash Dubai neighbour. Thank you for replying. Keep up the good work. Ironically I'm in Toronto right now which by the expat diktats I should hate....but I love it here. Nothing compares to having all 4 seasons all year round That is a deal breaker for me.
I wouldn`t want to be there when a new WW occurs and they haven`t to keep a nice face further to the world public as a Non-Muslim. The cultural difference is also to big, better go to one of the tax havens in America, e. g. Panama, Costa Rica, Paraguay, Belize, Bahamas, and so on. The crime might be higher there but you haven`t such a tyrannical government like in Oman.
@@OffshoreCitizen yes, maybe I have a false view on this american countries, and it is not good to live there, but I fear being in a country like in Oman with such a government.
Another Great video. Thanks for highlighting Oman - definitely worth researching. I have never been to Oman but the geography is tricky. On one side you have this beautiful Rich UAE and on the other side war-ridden impoverished Yemen. (Always been afraid of Houti missiles landing there, that’s why Oman has to be politically neutral, I guess). On micro level Would be interested in knowing a) freehold real estate opportunities b) Property laws/protections for oversees owners c) Purchase price to rent ratio d) vacancy rates etc. And on macro level would like to know about economy, government, policies, previous track record, future vision. I mean there has to be some value for Oman to offer or one can go to places like Ras Al Khaima etc where real estate is cheaper than Dubai and you are just an hour away from Dubai by road.
I will not sit in the desert with strange customs just to save some percentage of taxes. When I am successful and profitable, I can and will afford taxes. Then I can live in the best environment I personally like. With people I like, food I like. Those constant tax savers are poor nomads haunted by elusive savings addiction out of their control. I know Oman and worked in Gulf projects. There you can make money, lots of, and then live in Switzerland or any place you find outstanding. Those digital nomands have lost their soul. And the locals only like the money. Tax avoidence is a business model, not a lifestyle. I better walk in the Berner Oberland as those crumpy desert villages quickly built.
The thing is it is not *some* percentage of taxes, the difference is actually massive. In most of the western countries you will work a good portion of your life just for the government. Here is an example: imagine if you had a dollar, and it was to double each year. 1 becomes 2, becomes 4, becomes 8, 16, 32 and so on until you reach 1 million. It would take about 20 years for this to happen. Now imagine if you were in a different situation, and you were to get taxed 33% each time your dollars double. So, 1 becomes 2, but the gain of 1 gets taxed at 33% so now you have 1.67$. Then you double this 1.67 and you get taxed at your gains again and again for the same number of periods, about 20 years. So in situation 1 you have 1 million dollars. How much do you have in the second situation? 28 000$! The erosion of your wealth due to tax is massive! It's mind blowing. So yeah, one doesn't have to live in the Gulf region, they can choose another place but they will certainly be making massive savings by not paying taxes in the west.
@OffshoreCitizen I agree on your calculation. The point is the waste of time and life energy which you must refinance. Further, you get into potential hassles with banking and the long arm. The strategy is not smart. They will take it. You might pay net after deductions around 8 - 15 % in very good places. This money is the countervalue for a life which is a life. Finally, if you must optimize taxes, then your biz model is not profitable enough. To go into the desert to save money is a defensive foolish way. Smart money goes elsewhere. Texas, FL, Singapore, Switzerland ... countries with high reputation, selection and excellent quality life.
