UAE

UAE

About the United Arab Emirates (UAE)

The United Arab Emirates (UAE) s a federation comprising seven emirates located in the Middle East. It has gained international recognition for its rapid economic growth, modern infrastructure, and cosmopolitan cities.

Geographical Position:

Situated in the southeastern region of the Arabian Peninsula, the UAE is bordered by the coast of the Arabian Gulf (Persian Gulf) and shares land borders with Oman and Saudi Arabia.

Size and Population:

The UAE covers a total land area of approximately 83,600 square kilometers (32,300 square miles) and is home to an estimated population of around 9.9 million people. The country is characterized by its diverse population, representing various nationalities and cultures. While Arabic is the official language, English is widely spoken and used for business and communication.

Economic Diversity:

The UAE's economy has undergone a remarkable transformation from a predominantly oil-dependent one to a diversified and dynamic economy. Key sectors such as finance, tourism, real estate, and services now play significant roles in its economic landscape.

Legal System:

The UAE's legal system incorporates elements of civil law, Islamic law (Sharia), and customary law. Each emirate within the federation maintains its own judicial system, with federal courts overseeing certain matters.

Banking System:

The UAE boasts a highly developed banking and financial sector, positioning itself as a regional financial hub. Dubai, in particular, hosts numerous international banks and financial institutions.

The UAE is known for its favorable tax regime, including:

Corporate Tax:

Most businesses in the UAE enjoy a corporate tax rate of 0%. However, certain industries and foreign oil companies may be subject to taxation.

Personal Income Tax:

Individuals residing in the UAE are exempt from personal income tax, contributing to its attractiveness for expatriates and investors.

Value Added Tax (VAT):

The UAE implemented a 5% VAT in 2018, which applies to a range of goods and services. Businesses exceeding specific revenue thresholds are obliged to register for VAT.

Why Choose the UAE?

Strategic Positon:

The UAE's strategic geographical location serves as a pivotal gateway to markets across the Middle East, Africa, Asia, and Europe.

Business-Friendly Environment:

The UAE has solidified its reputation as a business-friendly destination, characterized by minimal bureaucracy and streamlined procedures for establishing and
operating businesses.

Tax Benefits:

Many UAE jurisdictions offer advantageous tax regimes, including no personal income tax and minimal or zero corporate taxes for specific business types.

Political Stability:

The UAE is globally recognized for its political stability and robust governance, fostering a secure and conducive business environment.

Economic Diversification:

Beyond its traditional reliance on oil and gas, the UAE has successfully diversified its economy. Sectors such as finance, tourism, real estate, technology, and renewable energy now play substantial roles in its economic landscape.

Free Zones:

The UAE has established numerous free zones, designated areas with specialized regulations that grant incentives such as 100% foreign ownership, tax exemptions, and simplified company formation processes. These free zones cater to a wide array of industries, actively attracting foreign investment.

Access to Funding:

The UAE boasts a well-developed financial sector, providing access to various funding options, including venture capital, private equity, and comprehensive banking services.

Quality of Life:

With modern amenities, luxurious living standards, and an abundance of recreational and cultural activities, the UAE offers a high quality of life that appeals to business owners, employees, and their families.

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Healthcare and Education:

The UAE has made significant investments in healthcare and education infrastructure, ensuring access to top-tier medical services and internationally recognized schools and universities.

Residence in the UAE

The Golden Visa Program

The United Arab Emirates (UAE) offers the Golden Visa program, providing foreign nationals with a coveted residence permit that allows them to live, work, or study in the UAE. This program boasts a wide range of benefits, including:

• A renewable residence visa that remains valid for either 5 or 10 years.
• No requirement for a local sponsor.
• Exemption from the necessity to spend a minimum of 6 months within the UAE.
• The capability to sponsor family members, including both spouse and children, regardless of their age.
• The privilege to sponsor an unlimited number of domestic helpers.
• In the unfortunate event of the primary holder's demise, family members can continue to stay in the UAE until the expiration of their permits.

1) Real Estate Investors

The Real Estate Investor Golden Visa, designed for those involved in or aspiring to invest in UAE property, provides a 5-year visa option. To meet eligibility criteria, applicants must adhere to the following conditions:
• Possess local real estate holdings with a minimum non-mortgaged value of AED 2,000,000.
• Maintain this investment for a minimum of 2 years following the issuance of the Golden Visa.

2) Investors

To qualify under this category, investors must furnish evidence of investing at least AED 2 million in one of the following:

• A financial deposit or qualified investment fund accredited by the UAE.
• A company based in the UAE

3) UAE Retirement Visa

Individuals aged 55 or older who have either spent 15 years working within or outside the UAE can apply for a 5-year retirement visa. To meet the criteria for this visa, applicants must fulfill the following requirements:

  •  Maintain a financial deposit of at least AED 1,000,000 within the UAE. And either:
  • Possess one or more real estate properties in the UAE with a combined value of no less
  • than AED 1,000,000. Or
  • Hold a fixed annual income not less than AED 180,000 (or AED 240,000 for the alternative option).

Partner Visa Program

To qualify under this category, investors register a company within one of the UAE's free zones or mainland areas.

Visas are initially issued for 2 years and are renewable, contingent upon the company's good standing.