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Tax Residency

Tax Residency

Many of the existing states of the world determine the level of taxation, depending on the speed and size of replenishment of the state budget. Against the background of such states, the UAE immediately catches the eye, because Emirates has almost no taxes for both individuals and legal entities. As for imports and exports, tax duties are almost zero. It is worth noting that not only residents of the country can use these advantages, but also not residents.

Emirates are attractive not only for tourists who want to enjoy an unforgettable vacation, but also for businessmen and investors. A high level of GDP always determines investment growth and the level of economic activity. Almost all the largest companies in the world are represented in Dubai. There is simply an incredible amount of opportunities for implementing business plans and projects in the country. If the activities of your company are in no way connected with the oil or gas industry, then you will not be taxed. There is a huge selection of profitable and growing in price of commercial real estate for investors.

Undoubtedly, the main advantage of company formation in the UAE is the absence of taxes in almost all areas of business. Also, the Emirates do not stand still and sign agreements to avoid double taxation with many countries, that only confirms the benefits of doing business for entrepreneurs in the UAE.

What types of taxes are absent in the UAE?

    •  % tax and dividends;

    •  income tax;

    •  corporate tax;

    •  import and export tax.

Almost all over the world, a working person pays taxes on his earnings. But not in the Emirates! Also, there are no taxes on other activities and property in the UAE.

There is an exception in terms of corporate tax, not all companies are exempt from it. The tax must be paid to those companies that work in the gas, oil or banking sectors. But, if you are an international and not a local company, then you are still exempted from corporate tax, even if you work in the above-mentioned industries. This exception applies only to local companies.

Recent economic studies claim that the UAE is one of the most stable and fastest growing economies in the world. The main component of the country's success is economic diversification.

The UAE boasts its excellent infrastructure and geographic location. Over the past ten years, Dubai has become a truly real financial center of the Middle East, as well as one of the most important business centers in the world.