UAE Residency By Company Formation | Dubai Residency by Company Formation
The United Arab Emirates (UAE) is one of the most attractive countries in the world especially in terms of career growth, business prospects and investment opportunities, tax-free earnings, residency options as well as political stability. This is the reason why tens of thousands flock here to obtain residencies through company formation. Through unending foreign investment in the private and public sectors of the economy, the UAE has transformed into a cosmopolitan country having high standards of living, especially in Dubai which is also known as a jewel in the UAE’s crown. The UAE has been one of the most famous countries for businesspersons for quite some time—and this popularity is only increasing as a result of various incentives and initiatives afforded by the government. Those who are engaged in international business often face an important question about how to obtain a tax residency in the country, which provides advantageous conditions regarding taxation of physical persons – its residents. From this point of view, the UAE is one best possible options among the other jurisdictions. All the UAE residents are fully exempted from all kinds of income taxes; the UAE residence visa gives its holders almost the same rights and possibilities as the citizens of this country.
The company registration in UAE and obtaining the residence visa for a business owner and all members of his/her family is the most reliable and proven way of obtaining a residence permit in the UAE and, accordingly, the possibility of obtaining a tax residency in the UAE. No taxes, excellent infrastructure, convenient international transportation, a high standard of living and lots of potential opportunities to build a profitable business, this is not a complete list of the advantages of this country for business.
Foreign investors have the choice to obtain UAE Residency by Company Formation through registering an onshore business (Mainland or Freezone). Please bear in mind that registering an offshore company does not give you the right to get a resident visa since it is considered to be a foreign entity. In addition, you will be able to create new jobs; you can hire employees and sponsor their residency visas.
UAE Resident visas can be renewed an unlimited number of times if you live according to the laws of this country and continue to own your own business. Although UAE citizenship is almost impossible to obtain, foreigners may well live in the Emirates for several decades, having a UAE residence visa.
So here is why YOU need a UAE Residency NOW more than ever.
Since 2018, the UAE government chose to freeze administrative charges for the subsequent three years. Other considerations are the introduction of a council to defend the interests of global organizations working in Dubai and a promise to allot 20% of government transactions to SMEs. There are additional measures like fine and expense waivers for business, new installment choices to spread business costs and legal audits to make speculation into real estate. In fact, if you’re thinking about migrating to Dubai, there’s no preferable time than right NOW, when the government has promised its dedication to foreign investment and the economic objectives of the country. ‘The UAE will stay a worldwide hotspot for unique talents and a constant country for global financial specialists.
The UAE was positioned as the safest nation on earth, as indicated by authorities last March, who said 96.1 percent of occupants had a sense of security enough to walk outside around nighttime. Both Dubai and Abu Dhabi positioned high in the 2019 Safe Cities Index, published in September by The Economist Intelligence Unit. The UAE is home to people of over 200 nationalities and the government has always been welcoming to expatriates. They account for roughly 80% of the total population allowing the country to hold one of the highest percentages of immigrants.
In addition to all the above, the well-organized infrastructure of Dubai; accessibility for intercity and interstate travel attracts over 16 million tourists yearly. These infrastructures in Dubai provide businessmen with unlimited investment prospects. Nowadays, when a lot of countries have not still recovered from the effects of the Covid-19 pandemic, Dubai looks ahead with confidence and extends its power globally. Dubai is the best place for investments and it is proven by the actual economic situation in the country. These days a plethora of large-scale projects are commissioned, which attract new investors and entrepreneurs from all around the world.
Furthermore, the UAE does not levy corporate tax, income tax & withholding taxes on corporate entities and individuals. However, it levies corporate tax on oil companies and foreign banks. Excise tax is levied on specific goods which are typically harmful to human health or the environment. 5%Value Added Tax is levied on a majority of goods and services.
With tax benefits, relocating to the UAE is affordable, profitable and simple.
Foreign citizens relocating to any emirate of the UAE are also allowed to sponsor visas for their family members such as a spouse, children as well as parents once they meet certain requirements.
With a UAE Residency you are assured that your family, business, and wealth are secured and highly protected within the vehicles available in the country.
All these initiatives and incentives point to every component of UAE life, giving dependability, and encouraging foreign investment.
Indeed, there has never been a better time to consider moving to the UAE than now—relocation has become simpler and easier than ever before.
At Wincore Advisory Group, we assist our clients to obtain world-class alternative residencies in Europe and the UAE. Our team of experienced International Residency and Citizenship experts can support and guide you every step of the process to obtain a UAE Residency.
For Support and assistance on obtaining a UAE residency by company fromation Get in Touch with our Corporate Team Today
Wincore specializes in Tax, Estate, Corporate and Fiduciary matters. We provide pragmatic, flexible and efficient solutions to individual entrepreneurs, startup businesses, foreign and local SMEs, multinationals, wealthy international families, HNWIs and UHNWIs.