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EFT's and living abroad

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  • 18-08-2017 11:39am
    #1
    cherrytaz
    Registered Users Posts: 481 ✭✭


    Hi all

    I have a query relating to my current resident 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 with Degiro

    · 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.


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