FAQs about Emirabiz Services
The UAE is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions that occur within the UAE.
On June 1, 2023, the UAE introduced 9% corporate tax, however, the UAE freezone companies that meet certain requirements as outlined by the Federal Tax Authority will be able to benefit from tax reliefs and possibly file the 0% corporate tax.
The suitability of a free zone company versus an offshore or mainland entity depends on your business model and requirements. However, a free zone setup offers advantages such as 100% foreign ownership, eligibility for resident visas, the ability to conduct business both within and outside the UAE, and greater favorability with banks compared to offshore companies. Additionally, free zones often offer a flexi desk option instead of executive offices, making it a cost-effective way to start a business without unnecessary obligations.
While we strive to make the account opening process as smooth as possible, we cannot guarantee the approval as it ultimately depends on the bank. Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications. Providing a clear picture of your business to the bank increases the chances of successful account opening. We do our best to prepare you and your company for a smooth and fast account opening process.
Your company should be renewed annually, and the cost is typically lower than the initial setup cost. The renewal fees depend on your company package, and you can obtain the price by downloading the Estimate from our website. Company renewal does not require the personal presence of the owner and can be done by your agent. After renewal, the new license must be presented to the bank to extend the bank account, which is included in our renewal service.
You have multiple options for fee payment. You can make payments via bank transfer, cash, or online using a card.
Resident visa in Dubai is valid for 3 years. In order to maintain the visa you need to visit UAE one time in every 6 months. In case you overstay and come to UAE later than required, your visa will automatically be cancelled at the airport when you arrive. You will need to make your visa again from the start. When the visa expires, you n eed to renew it: to do medical check again, apply for new Emirates ID and pay new visa charges.
Resident visa of Investor is valid for 3 years. Resident visa of employee is valid for ____ . In order to maintain the visa of Investor you need to come to UAE every 12 months, the visa of employee - one time in every 6 months. In case you overstay and come to UAE later than required, your visa will automatically be cancelled at the airport when you arrive. You will need to make your visa again from the start. When the visa expires, you n eed to renew it: to do medical check again, apply for new Emirates ID and pay new visa charges.
You cannot have an official lease contract for the office, but your registered address will be in Dubai. It will be the address of your Аgent. It will be mentioned in your incorporation documents and normally the Аgent would be able to receive your correspondence at that address. You can also lease a space in a business center, where you can have a desk, phone answering, meeting room and other related services.
No, an offshore company is not liable for VAT, because its business can be carried out only outside of the UAE, thus UAE VAT does not apply. It also doesn't have to be registered with the Federal Tax Authority.
Yes, offshore companies have to be renewed annually. The cost of the renewal is $2,150 including Certificate of Good Standing, which serves as a formal proof of the company renewal. Usually we deliver this certificate to the bank in order to update the records and make sure the account of the company stays active.
UAE is free from income tax and corporate tax. It only has import tax 5% for the goods that you bring into the country, and VAT 5% for the trading or service transactions that happen in the UAE. But since an offshore company cannot import any goods to the UAE, it is exempted from import tax too.
Planning to start a business in the UAE? With Emirabiz, you can navigate the process quickly and effortlessly. We provide expert assistance with company registration, licensing, residency visas, bank accounts, and comprehensive business support.