Benefits of UAE Tax Residency
What is a UAE Tax Domicile Certificate?
One of the main advantages of doing business in UAE is the fact that by registering a free zone (FZ) company you can obtain a UAE Tax Certificate.
The UAE Tax Residency Certificate (TRC) is an official document issued by the UAE Ministry of Finance confirming that individuals and corporate entities reside in the UAE.
Authorities and banking institutions in the UAE and many outside consider the UAE Tax Residence Certificates as sufficient proof of tax residency in the UAE.
Under the status of tax residency in the UAE, you can benefit from the attractive business environment and preferential tax treatment.
UAE Tax Residence Certificate Requirements
The required documents for obtaining UAE Tax Residence Certificate:
- passport copy and visa copy
- request letter from the individual
- bank statement with a UAE bank for the last 6 months
- source of income
- certificate from the company stating the individual activity and source of income
The documents required are produced internally by the company, with no outside confirmations necessary.
How to obtain Tax Residency in the UAE
There are 3 ways you can obtain a UAE residence certificate: through an employment contract, by purchasing immovable property, or by registering a free zone company.
The most popular way to become resident of UAE, is to register a free zone (FZ) company. This option allows the expatriate shareholders and employees of the company to apply for residency status
Registration of a free zone (FZ) Company
By establishing a free zone company in the UAE, foreign individuals can obtain residence permits and tax residency certificates from the UAE authorities. A FZ entity in the UAE offers many tax and business possibilities.
FZ companies enjoy exemption from income and corporate taxation, 100% foreign ownership, no exchange restrictions, free profit repatriation, all benefits accruing from the UAE’s nearly 80 double tax treaties, etc.
In 2022 a corporate tax of 9% on corporate income above 100.000 USD was announced. However, for those serving international clients, the existing zero% will remain in place. Personal income remains tax-free also.
Advantages of Free Zones (FZ)
Set a free zone company in the UAE to become a resident and receive the following advantages:
Interested in becoming a UAE Tax Resident ?
The zero tax jurisdiction of UAE is very popular with private businesses and individual entrepreneurs who wish to benefit from its advantageous business and tax environment.
With 0% tax rates on both income taxation for private individuals and corporate taxation of companies among other benefits, it is no surprise the UAE is an ideal solution to both businesses and their owners.
Contact us now for a complimentary consultation with one of our expert advisors!
About Freemont Oneworld Group
Freemont operates in Dubai since 2006 and we are located in own offices in Business Bay, a prime business location in Dubai. In 2019, we merged with Oneworld Mideast, forming the Freemont Oneworld Group.
We are a boutique firm providing niche services to clients which include corporate and trust, global compliance, tax and legal, business advisory, financial advisory and family offices.
We provide our clients the whole spectrum of corporate structures – offshore, international business, free zone, mainland and specialized entities – depending on each client’s needs.
We are an innovative global business provider and we offer an in depth knowledge and experience to our clients.
Freemont Oneworld Group
Level 18, Office 1812
Al Abraj South Street
Business Bay, PO Box 333641
T +971 444 57 900
F +971 444 57 901