The UAE, United Arab Emirates, is the destination of preference for many global businesses and wealthy individuals to benefit from the country’s 0% tax regime.
A UAE Residence Visa is required to become a resident of the United Arab Emirates.
The United Arab Emirates is a safe and politically stable country which offers a prudent business environment and financial stability. The UAE provides first-class banking services, including credit facilities, and has established itself as a global financial centre.
The country’s wealth has, for decades, not only relied on oil, as often assumed. In Dubai, for example, income from oil and oil-related business account for less than 10% of its GDP.
Dubai has excellent flight connections to literally anywhere in the world.
UAE companies benefit from 0% corporate tax and 0% withholding tax. If a UAE company is involved in local business, 5% VAT applies on most products and services and an additional tax applies on specific product groups such as, for example, tobacco products, alcoholic drinks and sugared drinks.
Individuals who are fiscal residents of the United Arab Emirates benefit from 0% tax on income, 0% tax on wealth and 0% tax on dividends.
The UAE does not have any restrictions on capital and profit repatriation.
Companies may be incorporated in the UAE as Onshore Companies (also called Mainland Companies), Freezone Companies and Offshore Companies. Please note that Offshore companies do not qualify for residence visas (also called investor visas) and thus do not qualify for fiscal residence.
There are three alternative criteria that qualify for residence visas and thus for fiscal residency:
Our clients require complete solutions to obtain fiscal residency in the UAE; they do not just want to incorporate a company and then deal themselves with all the specific (and sometimes tricky) details to obtain UAE residency and subsequently UAE fiscal residency (tax residency).
Shanda Consult thus focuses on a holistic package service that includes all aspects and all necessary single steps enabling our clients to become a fiscal resident (tax resident) of the United Arab Emirates.