The UAE (United Arab Emirates) has a unique culture with a very high standard of living attracting millions of visitors every year as well as a huge number of investors from different parts of the world annually. It has proven to be a tax haven for businesses and companies from around the globe.
Dubai is one of seven emirates forming the UAE and has firmly established itself over the years to be an attractive jurisdiction for international businessmen. This is both due to its unique tax regulations, and to the taxation treaties, it has built with other countries.
There are several business opportunities in Dubai making it for offshore investors. The UAE is in a competitive market, but unquestionably, its top important aspect that many investors consider to have an offshore in Dubai is the favourable tax regime with no income tax for individuals or no corporate taxes whilst having a prestigious Dubai company registered address.
In order to cater for incoming businesses, the UAE allocated special areas entitled ‘Free Zones’ wherein foreigners could easily set-up their company.
The free zone company is also accompanied by numerous benefits other than being free from taxes, and also free from regulations and control measures exerted by other unions like the EU. For example, by acquiring a free zone company, one also become privy to:
- 100% foreign business ownership
- Option of having multiple shareholders
- Trading outside the UAE
- Strong banking system inside the UAE
Dubai has indeed become an international financial centre with advanced infrastructure, daily flights connecting with the rest of the world and top financial institutions and brands. As the worlds’ travel and business hub, it has also become the destination for top health care service providers, university branches, and international companies.
Together, these factors behind the allocation of the free zones allow for the international lifestyle that global businesses require, complete with maximum efficiency for travel within the UAE region. Setting up a company in Dubai will give the aspiring entrepreneur the opportunity to benefit from the tax regime and operate and coordinate their business smoothly from one of the top commercial destinations in the world right now.
Straightforward, being able to conduct business as an international entity, possibility to open and operate bank accounts locally in the UAE and internationally, and conducting business without tax burdens are the main advantages of having an offshore in the UAE, the ultimate leading address for thriving businesses. To top it off, all business is done with full transparency and legitimacy. Dubai is truly the new tax haven for companies looking to prosper and expand even beyond their own initial expectations.