Obtaining a residence permit is the primary condition for being considered as resident in the UAE. By establishing a free zone company in UAE and foreign individuals can have residence permits and it is possible to obtain tax residency certificates.
A UAE tax residency certificate permit and a tax residence certificate can be useful to many foreign owners and executives of FTZs who wish to register tax register tax residency in the UAE. It is worth noting that authorities and banking institutions in the UAE and many outside consider UAE tax residence certificates as sufficient proof of tax residency in the UAE.
The requirements to obtain a
personal tax residence in the UAE are as follows:
1) passport copy and visa copy
2) request letter from the individual
3) bank statement for the last 6 months
4) source of income
5) certificate from the company stating the individual activity and source of income
6) fee of AED 1.000 (approximately US$300)
The above requirements are straightforward and the process application takes approximately 1 week to complete. The documents required are produced internally by the company, with no outside confirmations necessary. There is also no need for any external verification and the movement in the AED bank account does not need to be substantial.
The requirements to obtain a
company tax residence in the UAE are as follows:
1) trade license
2) lease contract
3) copy of passport and residence of the company director
4) request letter from the company
5) bank statement for the last 6 months
6) fee of AED 5.000 (approximately US$1.400)
7) audited accounts
The above requirements are straightforward and the majority can be produced by the company [ 1) ,2), 3), 4) above ]. For 5), a company account must be opened in AED with a UAE bank, which does not need to have substantial movement and this company account can be used to pay local expenses including director salary, professional fees and other expenses in UAE. What concerns requirement 7), our experience is that a simple statement is required which we can arrange with an authorized auditor to sign and stamp, with competitive fees.
To access the full publication on Tax Residency in Dubai, UAE, please click on the image below.
More information:
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Offshore Company Formation page.
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