This Middle Eastern country possesses the highest standard of living in the world, a stable political system, favorable conditions for doing business, strong economy, comfort and security. Majestic skyscrapers, luxury hotels and shopping malls, beaches, summertime are present all year round. Building a business career in the UAE is prestigious.
The UAE possesses a very vast, flourishing real estate market, and lots of buyers have rushed there. It should be marked that the rental market in Dubai is very steady and gives a high return on investment. People receive good rental income or benefit from resale once bought real estate. Moreover, taxation policy is mild and favorable. Thus, it provides a very comfortable environment for the growth of richness and secure opportunities for investing.
The UAE has robust economy, business friendly environment, and perspectives for development. The major drivers of economy are petroleum, natural gas, and oil.
There is no personal income tax for individuals. They also do not pay taxes on dividends, wealth, inheritance, gifts and capital gains.
Regarding real estate purchase tax, there are two types of taxes: a transfer fee and a registration fee. The price depends on the Emirate and the cost of the property. One has to pay AED 2,000 for property worth less than AED 500,000, and AED 4,000 for that of more than AED 500,000. After buying, one is due to obtain an ownership certificate.
There is no property tax in the UAE. Owners pay only an annual fee for the maintenance of property. It ranges between USD 15 and USD 60 per m2.
Corporate tax is at 9% rate. It applies to companies earning more than AED 375,000 per year.
VAT is 5%. A company has to register as a VAT payer with the Federal Tax Authority and pay this tax in case the income is more than AED 375,000 per year.
It is widely known that many wealthy people all over the world have preferred to keep assets abroad. Destination usually ranged from the Cayman Islands, the British Virgin Islands, Switzerland. However, now that things changed, Abu Dhabi is gradually acquiring popularity among high net worth individuals, Bloomberg writes.
New rules for the issuance and use of "golden" residence permits and the UAE's so-called "green visa" have come into force.
The UAE is very popular among entrepreneurs, investors, coming in search for lucrative spot for their businesses. The country is number one on the Global Entrepreneurship Monitor Index. It is a secular state and a civil law jurisdiction.
In the UAE, a company can be started in any of three jurisdictions: Mainland, Free Zone, Offshore.
Apart from numerous tax benefits, the UAE has dozens of free economic zones (FEZ) with special tax regimes. Each FEZ has its own specialization. From 2024 both FZ companies and Main land companies are subjects of the corporate tax of 9%.
Normal series of steps to open a company:
Banking assistance (local and offshore accounts)
Exclusive real estate services
Proof of address (Lease Agreement + Utility bill)
Company registration/incorporation (local and offshore companies)
Tax Identification Number
Getting a driver's license
In addition to fulfilment of programme conditions, an investor should meet these requirements:
I thank One World Migration for the opportunity to move to Turkey with their help. I looked to relocate my company to be closer to my European partners and suppliers from the Middle East.
I first came to Portugal as a tourist 3 years ago. Having assessed the situation and got acquainted with this country, I decided that I wanted to stay here to live. Thanks to the efforts of One World Migration, this became possible.
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A spouse, kids under 18, above 18, if a boy - under 21, but must be dependent from parents and not married, if a girl – no age limits, but has to be dependent and not married.
For investors seeking an alternate residency or citizenship, real estate has long been a favored investment pathway to qualify for these programs.
One World CEO Anastasia Barna discusses the inherent risks of the “financing scheme” within the Caribbean Citizenship by Investment (CBI) real estate option.
In this article we will consider what banks continue to work in Turkey and what alternative payment systems Russians can now use for a comfortable stay in the country.
