What Is a UAE Residence Visa
The UAE residence visa allows foreign citizens to live and work in the UAE on a permanent basis. It also provides an opportunity to invite family members and assistants to come, get medical insurance, education, a local driver’s license, as well as open bank accounts and conduct business in the UAE. Moreover, you can freely travel around the Persian Gulf and other countries without tourist visas.
Read MoreTax Reliefs for UAE Companies
With the introduction of corporate tax in the UAE, it is time to envisage possible tax implications and start thinking about tax structuring of your company. Proper tax structuring can help businesses in the UAE receive attractive incentives. Therefore, it is advisable to first do tax structuring of the company and only after launch the incorporation process in one of the UAE jurisdictions.
Read MoreHow to Send Money from UAE to Russia
As more and more Emirati companies are limiting their collaboration with Russian partners because there is no reliable instrument for mutual transactions, entrepreneurs from both countries strive to find a solution to make payments to Russia for goods and services rendered.
Read MoreAbu Dhabi Golden Visa for Investors
Abu Dhabi, the capital city of the United Arab Emirates, has recently introduced the 10-year Golden Visa for investors looking to establish a presence in the region. This initiative aims to attract high-net-worth individuals and entrepreneurs to invest in the local economy and contribute to the growth of Abu Dhabi.
Read MoreCorporate Tax Obligations of UAE Companies
At the end of 2023, the UAE published the outcome of a public consultation on the zero rate of taxation for qualified Free Zone residents. Decisions No.55 and No.139 previously published by the Ministry of Finance have been cancelled and new decisions No.100 and No.265 have been issued. The application of tax benefits has been expanded and many points have been more fully explained.
Read MoreUAE Golden Visa: New Requirements for Foreign Investors
The Golden Visa program, initially launched in 2019, has played a major role in attracting high net worth individuals to Dubai, offering many benefits including long-term residence for 10 years, as well as the ability to sponsor family members, access to world-class medical and educational facilities, as well as freedom to conduct business in the emirate.
Read MoreOffice in the UAE: Physical vs Virtual
The type of office, virtual or physical, depends on the chosen type of business, license, number of visas and the need to have economic substance. All local companies must have a physical office in the UAE. A physical office requirement applies both to companies registered in the Mainland and in some of the UAE Free Zones.
Read MoreThe UAE Federal Tax Authority publishes a Corporate Tax Guide on Small Business Relief
As a reminder, Small Business Relief offers a several-fold increase of the tax-free income threshold, however it has a number of limitations. UAE residents are treated as not earning taxable income if their annual revenue does not exceed AED 3 million (~ USD 816,000) in each tax period from June 1, 2023 to December 31, 2026.
Read MoreEstate Planning Specifics in the UAE
Estate planning is an important aspect for those who have assets and business interests in the United Arab Emirates. Given that the UAE has its own unique rules and regulations concerning estate planning, it is necessary to think ahead and make arrangements for the estate transfer to ensure the safety and security of assets for future generations.
Read MoreThe UAE Set Penalties for Corporate Tax Law Violations
The UAE Ministry of Finance has published Cabinet of Ministers Resolution No.75 of 2023, which sets penalties for violations of Corporate Tax Law No.47 of 2022. The schedule of offenses and corresponding penalties includes 13 items.
Read More