The UAE, one of the best migration destinations in the world, is praised for its forward-looking approach and adaptability.
With expatriates and immigrants accounting for almost 90% of the population, the UAE is a great choice for business and a fine lifestyle.
It is a country which supports its people and businesses, while maintaining stability to its economy and values as a nation, adhering to the traditional sense of belonging while at the same time emanating all that is modern and contemporary as a citizen of the world.
Dubai, in particular, has long gained the reputation of an ideal place to do business. The emirate is firmly established as the financial and commercial hub of the region, thanks to its favourable business conditions, low taxes, stability and safety.
These have further led Dubai to becoming one of the Gulf’s most successful and rapidly expanding economic environments. It is a prosperous and diverse market and the employment growth required to match its expansion provides excellent opportunities for growth, development and an exciting lifestyle.
It is a place where opportunities and people thrive; its English-speaking population and global outlook as well as its large expat pool mean more opportunity to find employees as well as create those conditions necessary to develop business.
The UAE’s pro-business governing system and economy has successfully diversified away from oil and is focusing on other sectors and industries such as logistics, tourism, trade and transportation, which currently account for around 60% of Dubai’s GDP.
Moreover, the large expat pool supporting the economy means that the government is continuously looking for ways to support them and their businesses, alongside the existing benefits, such as the advantageous tax regime offering 0% income, corporate and wealth tax (The United Arab Emirates (UAE) is set to raise its corporate tax from 0% to 9% from June 2023 on the net profits of businesses), as well as 100% repatriation of capital and profits. For free zone businesses, the UAE CT regime will continue to honour the CT incentives currently being offered to free zone businesses that comply with all regulatory requirements and that do not conduct business set up in the UAE’s mainland.
Its leading-edge infrastructure, whether that is in physical elements (airports, road network, public transportation, etc.), legal framework (rules and regulations, investor protection schemes, etc.), strategic location, convenient time zone and its ranking in best planned city in the world (2nd globally in ICT adoption, 5th in infrastructure as per the Global Competitiveness Report 2020) makes it an great choice to immigrate to the UAE for those looking to set up their own business or to advance their career prospects.
The new initiative of providing long term residency solutions is intended to attract even more talented people and investors who are ready to develop the country, making it better for living., while at the same time enhancing the competitiveness of the UAE and confirming the country’s position as a global incubator.
Meanwhile, long-term political stability, cosmopolitan lifestyle and great weather make the UAE an attractive home for anyone. A series of decrees were recently issued in the UAE amending articles in the Personal Status Law, the Federal Penal Code, and the Federal Penal Procedural Law.
Specifically, in 2020 Dubai launched a new residency programme which allows overseas remote working professionals to relocate and live in the emirate – along with their families – while continuing to work remotely for their overseas employer. The relocation programme is valid for one year and residents will benefit from the 0% income tax of the country.
Becoming a resident of a zero-tax jurisdiction is a desirable option for many individuals. Needs vary and the ways through which residency must be acquired and utilised is not a one-way route. By utilising our knowledge and experience in the region, we have created a unique product and a scheme of arrangements, leveraging the benefits of the UAE, into the Alpadis Dubai UAE Residency Package.
This is a total solution that includes everything from the setup to maintenance of the structure, covering both our clients’ requirements and the requirements of the government authorities. In this custom package we give upfront clarity of costs to our clients so that they can make a calculated decision. The needs of corporate and individual clients are inextricably linked. A corporate client in the wealth management industry relies upon the planning and long-term strategy of its individual owners; at Loggerhead, we realise the link between the two and offer a holistic approach to satisfy both ends; and the same user.
From our Dubai office, Alpadis Group can help you identify the type of company most appropriate for your needs, and facilitate the full formation and company maintenance procedure.
Please contact Alpadis Group for more information