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Tax residence and residence permit in UAE

Best tax residence and residence permit in UAE

2020-01-08
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The United Arab Emirates is a federal state comprising 7 emirates. The country exports oil, which accounts for most of its GDP. The basis of the  economy is re-export, as well as trade-in oil and gas. One of the major partners in trade is Japan.

The capital of the UAE is Abu Dhabi. English and Arabic have become official languages. This country has a high standard of living, promising conditions for business development. In this regard, the question of how to buy a residence permit in the UAE is relevant.

The advantages of getting a visa to the UAE

Currently, there is an increasing number of businessmen seeking a residence permit in the UAE and registering a business in that country. Visa to the state confirms residence. You can apply for the visa, register a local company or open an account in one of the famous banks of the state.

The main advantages of obtaining a visa:

  • Residents are exempt from making tax payments;
  • Developed infrastructure in the country;
  • It is possible to invest money in a profitable way;
  • The residence permit in UAE gives the opportunity to use the services of many well-known banks. 

The Arab Emirates have become a popular direction not only for business development but also for immigration. This is due to the lack of tax charges on profits, wages, and income from entrepreneurship.

The country has a reputation of a stable and secure state, which has good conditions for running its own business. Dubai is one of the world's financial centers. Having a resident visa allows to officially reside in the country, open bank accounts, conduct business, and rent housing.

Procedure for exchange of tax information

The exchange of these data is made using the client's tax number, which is transferred to the financial institution. For residents of the country, this identification number can be obtained with a resident visa. Residents are not automatically subject to the exchange of tax data.

To register a company and open a bank account, contact our experts at IT-OFFSHORE. We will help you answer any questions you may have. One of the advantages of obtaining a tax residency in the UAE is a fast registration process.

Features of obtaining a resident visa

There are several ways to apply for a UAE resident visa. One option is to open an onshore organization. An important condition is to become its owner. It is possible to conclude an employment contract with an onshore organization, which is opened in the UAE. This will allow you to get a work visa.

An alternative option is to invest in real estate, which is located within the state. Resident visas are issued for 2 or 3 years. The length of stay may vary depending on the basis of the issuance and the emirate. To maintain the validity of the visa, you must arrive in the country at least once every six months.

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