RETIREMENT LIFE IN UAE

UAE is one of top tourist destinations in the world. It offers world class infrastructure and better standard of living, so there’s no question of having to “give up” anything in living here. In fact, you’ll gain a lot.

The biggest attraction of UAE is the English-speaking expat communities.

The Government is really helpful, and Respects all Nationalities and their cultures equally. 

UAE's Visa regulations and flexible banking policies ensure a comfortable relocation and retirement life in UAE. The Double Taxation Agreement invites Top-Level Management people to UAE for the tax free investments.

While planning your retirement life in UAE below are the significant features;  

• Ease Of Buying And Owning Property
• Safety & Security
• Easy To Obtain Residency
• Lowest Capital Requirement To Obtain Residency
• Zero Corporate Tax
• Zero Personal and Income Tax
• 100% Digitalized Government Transactions
• High Standard Of Living
• Advancement In Healthcare And Entertainment
• Stability Of The Country’s Political Situation

The UAE consists of Seven Independent Emirates.

Abu Dhabi, Dubai, Sharjah, Ras al-Khaimah, Ajman, Umm al-Quwain and Fujairah,

Total Population - 10 Million. 

When choosing a place to settle down in life, it is important to consider following factors;

1. Decide on the nature of your visa (Investor/Employee)
2. Type of Resident (Owned property/ Rented)
3. Plan your Utility expenses - Chiller or A/c, Annual Maintenance cost etc.
4. Transportation facilities
5. Health care facilities
6. Recreation and Entertainment etc.

If you are planning to establish a business, go through few prospects for your business,

There are 7 respective Economic Departments for each emirates for Mainland Company Formations, 55 Free Zone Jurisdictions for Free Zone Company set up, 3 Offshore Jurisdictions for the Offshore Incorporation and 2 Financial Jurisdictions such as Abu Dhabi Global Market and Dubai International Financial Centre to establish financial institutions and establishments. 

The following are the points to be considered while planning business;

• Business activity and End to End costing
• Suitable Jurisdictions for the Proposed Business
• Legal and Corporate Governance Services
• Visa Requirements - Investors & Employees
• Tax & Trade Regulations etc.

UAE Resident Visa

UAE resident visa is stamped inside your passport. There is also Emirates identification card that is issued in addition to the aforesaid visa. It contains general information about its holder. This card is valid throughout the Emirates and may be used inside the country instead of a passport.

In order to maintain resident visa valid you are required to enter the Emirates at least one time in every six months. Violation of this rule will result in your visa being cancelled. Upon its expiry you will be able to renew it without limitations on number of times it can be renewed. 

Unlike UAE tourist visa, resident visa is issued for following categories;

• 10 Year Golden visa for Investors (Minimum 10 million investment)
•  5 Year Residency Visa (Minimum 5 million investment)
•  2 Year Residency Visa (Minimum 1 million investment)
•  3 Year Investor Visa (For the Business Owners)
•  2 Year Residency Visa (For the Employees)

UAE’S DOUBLE TAXATION AGREEMENTS

Double taxation means similar taxes are imposed in two countries on the same tax payer on the same tax base, which affects the exchange of goods, services, capital, technology transfer and trade across the border.

The Purpose of Avoidance of Double Taxation Agreements

1. Promote the development goals of the UAE and diversify its sources of national income
2. Eliminating double taxation, additional taxes and indirect taxes and fiscal evasion
3. Remove the difficulties relating to cross-border trade and investment flows
4. Offer full protection to tax payers from double taxation, whether direct or indirect and avoid obstructing the free flow of trade and investment and promoting the development goals, in addition to diversify sources of national income and increase the size of investments inflows
5. Take into consideration the taxation issues and the global changes in the economic, financial sectors, and the new financial instruments and the mechanisms of transfer pricing
6. Encourage the exchange of goods, services and capital movements

TAX RESIDENCY CERTIFICATE IN UAE

Tax Residency Certificate/Tax Domicile Certificate is an official document which is issued by Ministry of Finance of UAE to either Companies inside UAE for at least 1 year of age or Individual with UAE residency visa / permanently residing in the UAE for at least minimum of 180 Days.

This Official Certificate is used to fully utilize the advantages of the extensive double tax treaties and to take advantage of double taxation avoidance agreements signed by the UAE with over 76 Countries in the World.

You can easily decide where to invest money, based on market condition, market size and profitability index.

Leveraging over 10 Years’ Experience on the market of business setup and corporate services in UAE, we have developed a unique 2020 UAE market review.

For further queries, please feel free to keep in touch;

Mr. Geo Jimmi

Mobile - +971521054028

Email - geo@primedubai.com