The Backup Residency
Updated: Apr 26, 2020
Times have shown us how fast countries go into crisis. What we experience right now is the worse economic situation in human history. Everyone on this planet will be affected. The only questions; who will sustain such a crisis. Who will be a winner and who will lose and most probably who will survive.
Times have shown us how fast countries go into crisis. What we experience right now is the worse economic situation in human history. A Backup Residency can be beneficial.
Rule Nr. 1 - never have only one permanent residency. Try to keep a door open to safe heaven if you can. History has shown us many times that backup plans work very well. Having your eggs not all in the same basket was always the credo of one of our oldest clients, born in 1929 and experienced in all kinds of crises.
Global Financial Yard offers permanent residencies in the United Arabic Emirates. The benefits are very straight forward. No income and corporate taxes combined with strong banking secrecy (which is history in most of the world), perfect flight connections, and a criminal rate below 1% talks for its own.
Furthermore, is it possible to keep a permanent residency without the need to stay all year in the UAE. It is allowed to stay out of the country for up to 6 months. With a 100% corporate ownership of a UAE entity, it is even possible to stay up to 12 months outside of UAE without losing the resident status. A permanent residence is valid for three years and can be renewed. Global Financial Yard is issuing resident permits mainly based on corporate ownerships. If you own a local company, you are able to apply for a resident permit. We take care of the complete process.
As the owner of a residence permit, you are allowed to enter the country at any time. You are allowed to open bank accounts and benefit from strong banking secrecy. UAE bank offers a 100% cash guarantee. Multiple currency accounts are possible.
UAE banks are considered to be crisis proven since a different banking system. Loans and speculative investments are handled in a different way, which makes the bank more stable than western banks. Global Financial Yard is assisting in the permanent residence process.