Interesting facts:The banking activity and finances are regulated by the Central bank’s normative acts. Full version
Reduction of tax payments is natural desire of any company, since taxes "consume" substantial share of business income. The most effective and, most importantly, lawful way to optimize taxation is by registering a company in Dubai. This Emirate of the UAE is deemed one of the most attractive in terms of minimization of jurisdictions taxes.
Furthermore, the jurisdiction of Dubai has good reputation among other offshore jurisdictions. It is evidenced by the fact that the UAE is a place of incorporation for most major corporations. The UAE has signed agreement for avoidance of double taxation with many countries, constituting another advantage when considering establishment of a company in Dubai.
Clarify the cost of opening company, corporate or personal bank account, obtaining a residence visa, or another question regarding business in Dubai, UAE:
Dubai offers broad opportunities for business by allowing to register not only offshore, but also onshore company. There are no trade barriers, quotas or currency controls. In addition, the Emirates are known for their low import duties, and most of imported and exported products are not taxed at all.
There are no personal and corporate taxes in Dubai, - the exception is branches of foreign banks and oil companies having activity inside UAE. In order to attract foreign capital, the state abolished income taxes and fixed zero tax rate on capital. Furthermore, Dubai zero tax rates apply to property sale and inheritance, and no taxes are charged against wages of employees.
One-time registration fee of 4% is paid when purchasing real property in the UAE. In compliance with the laws of the Emirates the fee is paid by both parties: 2% is paid by each of the parties. In practice, such costs are usually included into the price of the property.
The tax rate for rent of residential premises is 5%. It is calculated on the basis of average cost of rent and is added to the amounts of electricity and water bills paid by the tenant. In this case, property owner is not required to file any tax returns. 5% tax on entertainment and hotel services, and 10% tax on commercial premises are charged in Dubai as well.
In the second half of 2012 "Lukoil Overseas" - a subsidiary of one of the largest international ... Businessmen say: "Paying taxes is an obligation while paying little taxes is an art."
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In the second half of 2012 "Lukoil Overseas" - a subsidiary of one of the largest international ...
Businessmen say: "Paying taxes is an obligation while paying little taxes is an art." Business ...