It is possible to change the tax residence for just 10,000 euros
Tax residency is a status that determines how your income will be taxed in a particular country. The country of tax residency can be crucial in determining your tax obligations and tax rates, and one of the best options is the United Arab Emirates (UAE).
In recent years, the United Arab Emirates has actively attracted foreign investors and professionals, creating the most comfortable conditions for them. One option for relocating to the UAE is to obtain residency through small investments with subsequent change of tax residency.
Here are several reasons why the UAE is an attractive option for changing tax residency:
- No personal income tax. Income earned outside the UAE is not subject to taxation.
- Low investment requirements for obtaining residency - starting from 10,000 euros.
- The possibility to recover your investments with profit after a few years. It is not a non-refundable contribution.
- Developed infrastructure, comfortable living conditions, and business-friendly environment.
- Stable and safe political and economic environment in the country.
- Favorable business climate with many free economic zones.
- No currency controls, simplified business setup.
The process of changing tax residency involves preparing documentation, including your tax history, passport information, financial details, and documents confirming your ties to the UAE. You will also need to make investments in the share capital of a company in the UAE, starting from 10,000 euros. This can be an existing business or a newly registered company.
You are considered a tax resident of the UAE if:
- You are registered with the UAE tax authority.
- You pay taxes in the UAE.
Therefore, tax residency in the UAE is an essential factor for anyone living or doing business in the country. However, changing tax residency can be a process that requires significant investments and efforts. To obtain advantageous tax residency in the UAE quickly, affordably, and comfortably, we recommend consulting specialists at IT-OFFSHORE.