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UAE Business Options
ยป Doing Business in UAE – UAE Business Options
We are able to assist you on all aspects of company formation within the UAE and have a working knowledge of the practices of local authority.
The benefits of establishing a business in the UAE:
No corporate and individual tax for almost all sectors and the freedom to repatriate capital and profits.
There are no currency restrictions.
Foreign ownership is generally allowed to 49 percent but there is no requirement for a local partner for Free Zones, UAE branch and representative offices of foreign companies, and for certain professionals.
For setting up a company in the UAE, all businesses (of all types) must obtain a license to operate in the UAE.
The UAE Commercial Company Law recognizes the following major forms of companies in the UAE:
- Limited Liabilities Companies
- Branch Offices
- Representative Offices
- Free Zone Companies
Companies located outside of designated Free Zones must be owned from at least 51 per cent by a local UAE national.
Companies located in Free Zones are not allowed to trade goods with the local UAE market directly, however – they must use authorized local agents and the import customs duty (usually 5 per cent) has to be paid when goods are released onto the local UAE market. Services and products can be purchased from and within the UAE market may be purchased directly, without an agent.
UAE TAXATION
There is no federal tax legislation in the UAE, instead each Emirate has its own tax law.
The following taxes are not applicable in the UAE:
- Personal income tax
- Capital gain tax
- Value-added tax
- Withholding tax
- Corporate tax
Only oil, gas and petrochemical companies and branch offices of foreign banks are required to pay taxes.
With regards to property tax, in most of the emirates, tax is payable by residential and commercial tenants by reference to the annual rent of residential property at a rate of 5 per cent and for commercial property at 10 per cent of the annual rent.
UAE RESIDENCE VISA
We are able to assist you on all aspects of UAE Residency Visa through employment within the UAE and have a working knowledge of the practices of local authority.
The UAE requires Visas for all nationalities except for nationals of the Gulf Countries Co-operation Council. Other nationals may enter the UAE on visit/tourist visas, transit visas and employment or residence visas.
Foreign nationals wishing to take up employment in the UAE must obtain employment visas, which are issued by the United Arab Emirates Ministry of Labor, and residence visas which are issued by the UAE Department of Immigration. All Free Zones have their own immigration departments.
UAE employment visas are valid for three years – renewable for additional three-year periods. Residence visas are granted to dependents of foreign nationals. Currently no quota system is imposed on immigration into the UAE.
The following nationalities can get UAE Visit Visa upon arrival at the UAE airports:
Europe: United Kingdom, France, Italy, Germany, Holland, Belgium, Luxembourg, Switzerland, Austria, Sweden, Norway, Denmark, Portugal, Ireland, Greece, Finland, Spain, Monaco, Vatican City, Iceland, Andorra, San Marino, Liechtenstein.
America: USA, Canada.
Oceania/Pacific: Australia, New Zealand.
Asia: Japan, Brunei, Singapore, Malaysia, Hong Kong, South Korea.
GCC: Gulf Cooperation Council Members States like Saudi Arabia, Qatar, Bahrain, Oman, Kuwait.
Source and Related Links
www.government.ae