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Tax residency in the UAE

How to become a tax resident in the UAE in 2021

2021-01-06
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Becoming a tax resident in the UAE in 2021 means belonging to the tax system of the state. According to residency, the rates of taxes to be paid to the budget are set. There are many advantages to becoming a tax resident in the UAE in 2021. To clarify the nuances, contact IT-OFFSHORE.

The benefits of applying for residency

Opening a business in the Emirates has many advantages, one of them being the UAE's low taxation in 2021. In order to legally lower the tax rate, you need to obtain residency status.

The main pluses include the following:

  • There is a five percent rate of value-added tax - this levy is considered the only one in the Emirates;
  • There is no single public registry for entities;
  • Not all individuals have access to company data;
  • Getting the status is simple enough.

An individual who has a resident visa or a firm that is located in the country may obtain the status. It is important that the management is also conducted from this state.

How to get the residency?

If a person has a valid resident visa, he or she automatically receives tax status. It is possible to obtain a residency visa by owning a company in the FEZ or a local firm.

It is possible to get the status by investing in real estate - you will need to buy a residential property worth at least 1 million dirhams. It is possible to obtain the status by employment if the person is a student of higher education in the territory, spouse, or a child of the resident.

It is not required to be permanently located in the UAE when obtaining a visa. To maintain residency status, it is sufficient to enter the territory once every six months. Otherwise, the status may be revoked.

To obtain a tax certificate, you will need to collect a number of documents. It is necessary to provide a passport and resident visa, bank statements, property information, and immigration certificate. Legal entity must prepare a business license, office data, financial statements and bank statements.

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