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Are you interested in gaining tax residency in Dubai, UE? This is your one-stop guide to learning how to get tax residency! The UAE is a top destination of the Gulf, decorated with booming skyscrapers and a convenient international airport. But the thing that makes it most appealing is its zero taxation.
Another attractive feature is the facilities offered by free trade zones. All of this has brought in an unpredicted number of new residents over the past decade. So let’s dive deeper into tax residency in Dubai, UAE to give you all of the information needed to apply.
A tax residency certificate is officially known as a tax domicile certificate. It’s a document that confirms a specific country as the official tax residence of an individual or company. The Ministry of Finance issues these certificates and they come with a validity of one year.
The main benefit of doing business in the UAE is that if you register a free zone company, then you are able to obtain this certificate. It allows you to take full advantage of the benefits that come with the UAE’s treaties involving the avoidance of double taxation.
There are strict rules in the UAE in regards to foreign investment, most of which aren’t commonly known. Non-national investors are not allowed to own more than 49% of the shares of a business. As a result, they cannot own a business in the UAE. However, that limitation is lifted in free trade zones.
Some of the major benefits of owning a business in a free trade zone include the following:
There are no personal income taxes in Dubai, which is another reason it’s so appealing to foreign investors. As a result, there was no concept of tax residency until recently. The Ministry of Finance started issuing tax residency certificates in order to give residents a way to prove their residency. If you can prove that you’ve lived in Dubai for at least 183 days, then you probably qualify for tax residency.
Dubai does tax residential rental property at a rate of 5% the value of the property. There is also an indirect VAT tax of 5% on specific consumable goods bought in Dubai.
If you use our real estate services in Dubai, then our lawyers will check your eligibility to be a tax resident in the UAE. The main qualification is that you have to be a resident of the UAE for at least half a year. So let’s take a look at getting that step out of the way.
Gaining residency in Dubai is not that difficult. There are three different method that you can follow depending on your circumstances.
Once you have become a Dubai resident, you can register for a tax residency certificate. Here are the necessary steps.
If you travel and spend a lot of your time in other countries, then you need to apply for a tax residency certificate for the period during which you receive the majority of your income.
With that said, let’s look at some of the major documentation required when applying for tax residency in Dubai, UAE.
Lease Agreement with the UAE
Again, if you use our real estate services in Dubai, then we will help you with the registration process.
Our real estate services cover all of the legwork of applying for tax residency in Dubai, UAE. Since this is such an appealing place to own real estate, we find that offering such services to be a huge benefit to foreigners looking to invest in the UAE area.
If you want to avoid income taxes in the Dubai area, then getting your hands on a tax residency certificate is a great choice! Let our lawyers make this easier by using our real estate services. Contact us today!