The United Arab Emirates (UAE) has emerged as a premier destination for individuals and businesses seeking favorable tax conditions. As a leading provider of accounting, tax, structuring, and wealth management services, GTAG is adept at guiding you through the process of becoming a tax resident in the UAE. This article will cover the requirements, benefits, and additional information on how our services can assist you in achieving UAE tax residency.
Cabinet Decision No. 85 of 2022 – Issued 2 Sept 2022 (Effective 1 Mar 2023)
Requirements for UAE Tax Residency
Natural Person:
A natural person shall be considered a Tax Resident in the State where any of the following conditions are met:
Primary Residence and Interests: If his usual or primary place of residence and the centre of his financial and personal interests are in the State, or he meets the conditions and criteria determined by a decision from the Minister.
Physical Presence: If he has been physically present in the State for a period of 183 days or more, within the relevant 12 consecutive months.
Conditional Presence: If he has been physically present in the State for a period of 90 days or more, within the relevant 12 consecutive months, and he is a UAE national, holds a valid Residence Permit in the State, or holds the nationality of any member state of the Gulf Cooperation Council, and meets any of the following: He has a Permanent Place of Residence in the State. He carries on employment or Business in the State.
Tax Residency Certificate
The person who is considered a Tax Resident in the State under the provisions of this Decision may apply to the Authority for a Tax Residency Certificate.
The application shall be submitted following the form and manner specified by the Authority.
If the Authority is satisfied that the applicant meets the requirements of this Decision, the Authority may approve the application and issue the Tax Residency Certificate
Benefits of UAE Tax Residency
Becoming a tax resident in the UAE comes with numerous advantages:
No Personal Income Tax: The UAE does not impose personal income tax on employment or other personal income.
Business-Friendly Environment: The UAE provides a conducive business climate with various free zones offering tax incentives and simplified regulations.
Strategic Location: Positioned as a gateway to markets in the Middle East, Africa, and Asia, the UAE offers abundant business opportunities.
High Quality of Life: Enjoy a high standard of living with excellent healthcare, education, and infrastructure in the UAE.
Additional Information
The UAE has an extensive network of double taxation treaties with nearly 140 countries, enhancing your tax planning strategies. Understanding the legal system, which includes civil law principles, free zone regulations, and Sharia law for personal matters, is vital for a seamless transition.
Golden Visa
The UAE Golden Visa offers long-term residency to investors, entrepreneurs, specialized talents, researchers, outstanding students, and Humanitarian Pioneers. This visa, along with other residency visas, supports the fulfilment of tax residency criteria by providing a stable legal status in the country. However, it is important to note that the Golden Visa is not directly related to tax residency; it is a separate program that grants extended residency privileges.
One of the most significant benefits of the Dubai Golden Visa is the ability to sponsor your family and domestic workers, including your spouse, children, parents, and domestic helpers, to live and work in the UAE with you, allowing you to keep your loved ones close and support them financially.
How GTAG Can Help
GTAG offers a range of comprehensive services to facilitate your transition to UAE tax residency:
Consultation and Planning
We provide personalized consultations to understand your needs and develop a customized plan for your tax residency.
Documentation Assistance
Our team assists in gathering and preparing all the necessary documents, including your Emirates ID, passport, residency visa, and proof of residency.
Application Process
We guide you through the application process for obtaining a Tax Residency Certificate from the Federal Tax Authority.
Ongoing Support
Our dedicated team offers continuous support to ensure compliance with UAE tax laws and address any queries or concerns you may have.
Conclusion
Embarking on the journey to become a tax resident in the UAE can greatly enhance your financial and personal well-being. Our company is committed to providing full support throughout the process, ensuring a smooth transition, and helping you capitalize on the opportunities available in the UAE. Let us confidently and easily guide you on the path to UAE tax residency.
At GTAG, we understand the allure of the UAE and the complexities of navigating a new business landscape. We offer a comprehensive suite of services to help you establish yourself and flourish:
Structuring: We provide advice on the optimal business structure considering your specific needs and objectives.
Company Setup: We assist with the entire process of company setup, navigating the legal and administrative tasks.
Global Tax Advisory: Our experts offer comprehensive global tax advisory services to ensure compliance and optimize tax efficiency, both corporate and personal.
Accounting: We provide professional accounting services, allowing you to focus on your core business operations.
Wealth Management: Our wealth management solutions are designed to grow, protect, and preserve your wealth for the next generation.
Family Office Setup: We offer bespoke services for setting up family offices, providing a holistic solution for managing your family’s wealth.
Embrace the opportunities that the UAE offers. With GTAG as your partner, navigate the business landscape with confidence and ease.
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