Investors, business owners and individuals around the world prefer and love to come to take benefits from its Renowned and Low Tax Regime. It is decided on 9 september 2023, where the UAE Cabinet of Ministers and legal authorities made and issued a decision which stated the domestic and eligible criteria for if you are individual, business owner or any trading entity will be considered as DUBAI, UAE TAX RESIDENT As per Law, inside UAE.
Lets Dive Into the following Contents for Dubai, UAE Tax Resident:
- Main Types of Taxes in Dubai, UAE?
- What is the Dubai Tax Residency Certificate?
- How can I get Dubai, UAE Tax Residency Certificate?
- What are Individual Requirements for Dubai, UAE Tax Residency Certificate?
- What are Company/Corporate Requirements for Dubai, UAE Tax Residency Certificate?
- How Expert Solution Corporate Services Helps You to Become A Dubai Tax Resident.
What are the types of Taxes in Dubai, UAE?
There are two types of taxes in Dubai, UAE, which is known for its minimal amount of tax.
Corporate Taxes:
From 26, FEB-2024,Only foreign corporate/business setups & some different sectors in Dubai,UAE are paying 09% tax. All others pay 0%. To get free from paying tax, you must need a TAX Residency Certificate issued by the Ministry of Finance UAE. Business must be corporated according to Emirati Law and inside Dubai/UAE to get a TAX Residency Certificate.
Individual Taxes:
For individuals in Dubai, income is not subject to taxation. Taxation apply in other jurisdictions, making a Tax Residency Certificate essential. The applicable taxes in Dubai include a 5% municipal fee on the yearly rental value of residential properties and a 5% VAT on some goods.
What is the Dubai Tax Residency Certificate?
Concept of a Tax Residency Certificate did not exist, as there were no regulations in Dubai,UAE concerning personal income or corporate taxation. However, this changed to enable foreign nationals and businesses to establish their tax residency in Dubai. Now, individuals who can demonstrate that they have spent a minimum of 183 days in Dubai during the latest tax year are eligible to obtain a Tax Residency Certificate. This allows them to avoid double taxation on their income, typically in their home country, which is a risk for those from nations lacking a double tax agreement with the UAE.
For businesses, securing a Tax Residency Certificate – also referred to as a Tax Domicile Certificate – is possible whether they operate within a free zone or on the mainland.
Another benefit of the Tax Residency Certificate is that it can be utilized to recover any taxes paid within the same year that you or your business relocated to Dubai.
A Tax Residency Certificate is issued by the Ministry of Finance which is valid for one year.
It is important to note that offshore companies – sometimes known as international business companies – are not eligible to apply for a Tax Residency Certificate. However, they may apply for a tax exemption certificate instead.
How can I get Dubai, UAE Tax Residency Certificate?
There are just three basic steps to obtain Dubai/UAE Tax Residency Certificate:
Step 1:
Business/individual/owner need to create an account on the Ministry Of Finance’s UAE Website.
Step 2:
Application form must be filled in with correct details and the required documents attached to it in pdf or jpeg format. Required Documents vary depending upon whether there’s an individual or type of business you are applying for.
Step 3:
This is the payment step . It cost 2000-2500 aed for individual and 10,000-12,000 aed for business to obtain UAE TAX Residency Certificate.
What are Individual Requirements for Dubai, UAE Tax Residency Certificate?
Individual seeking for A Tax Residency Certificate Must be a Resident of Dubai more than 180 days.
Different documents are required to submit to the Ministry of Finance UAE, along with an online application form on their official portal.
Required Documents are:
- Copies of your Passport
- UAE Residence Visa
- Emirates ID
- 6 Month Statement of UAE Bank
- Income Proof in UAE like salary slip.
- Immigration Report
- Certified Copy Of Tenancy Agreement
What are Company/Corporate Requirements for Dubai, UAE Tax Residency Certificate?
Trading business inside UAE need following documentation along with their online application while applying for Tax Residency Certificate in Dubai:
Business Trade License Copies
Passport of Company’s Director, Visa And Emirates Id.
Tenancy Agreement which must be valid for at least 3 months before application is made.
Proof of physical Office Space
Latest Financial Statement Of Company of last 6 Months with UAE bank stamp.
After Approval Of Application It Took 2-4 weeks by Ministry Of Finance to Issue Tax Residency Certificate.
If Something needs to be improved or updated in application form , this will reject application.So need to submit application again with all required documentation.
Thus you always need professionals from Expert Solutions Corporate Services Who guides you on a complete, easy and straightforward path to receive a Tax Residency Certificate. Call Us Today For Best Consulting Services.
How Expert Solution Corporate Services Helps You to Become A Dubai Tax Resident…
If you want to achieve numerous benefits then must hold a Dubai Tax Residency Certificate.
There are some complications in the process for applying for a Dubai Tax Residency Certificate for those who are not native to the UAE or not familiar with UAE Laws.
For this we always recommend you to choose Expert Solution Corporate Services for their extraordinary services and achievements.We make the process smooth and quick with hustle free services and guidance.
For More Information Please Contact Us +971 50 289 2119
Prices Packages offered by Expert Solution Corporate Services are subject to change without notice. Please Get In Touch with ESCS-FZ for an updated price Packages.
