Company registration, bank accounts, visas, and consular services in the UAE

Opening a company in the UAE offers numerous advantages, making it one of the most attractive places for business:

• Strategic Location: Situated between Europe, Africa, and Asia, the UAE provides easy access to diverse markets.
• Favourable Business Environment: Known for progressive regulations and low corporate taxes across most industries, the UAE offers convenient business ownership and control.
• Modern Infrastructure: With excellent facilities including airports, ports, roads, and telecom systems, the UAE offers outstanding infrastructure.
• Advanced Financial Services: The UAE offers a strong financial environment, providing a range of services such as banking, insurance, and investment opportunities.
• Efficient Company Incorporation: Different free trade zones and simplified processes facilitate rapid and hassle-free registration and business operations in the UAE.
• Multinational and Culturally Diverse Environment: Operating in a multinational setting fosters easy business networking and collaboration.

If you're applying for a 2-year residence permit, you're not required to live in the UAE to maintain your residency status, but you must visit it once every six months. The duration of stay is not important. If you're applying for a 2-year investor visa or a 5-year pension visa, you must visit the UAE once every 12 months. Holders of a 10-year gold visa are exempt from the requirement to visit the UAE every six months.

To apply for a 10-year Golden visa, the total value of properties owned by the applicant must exceed 2 million AED, and the properties must be completed by more than 50%. For a 2-year investor visa, the total value of properties owned by the applicant must exceed 750,000 AED, with properties being at least 50% paid off and completed by more than 50%. The news that only an initial payment is required for these visas is currently just speculation. A Golden/Investor visa holder cannot sell the property used for the visa within 2 years without cancelling the visa.

There may be exceptions if the properties are completed by more than 30%. If this applies to you, we can assist you with the paperwork.

To open a personal bank account, you first need to obtain an Emirates ID. Then, with the rest of the required documents (such as a salary certificate or statement from other bank accounts and the company license for owners), you can visit one of the branches of major banks such as FAB (First Abu Dhabi Bank). We will assist you in gathering all the necessary documents.

Opening a corporate account may require more time and documents. We will guide you through the process to minimize your costs

When your Emirates ID expires, you will receive a letter from the bank reminding you to renew it, or else your account will be blocked.

Income tax for individuals, capital gains, gifts, wealth, and inheritance in the UAE are all at 0%. For legal entities, income tax is levied at a rate of 9% from June 1, 2023.

The Value Added Tax (VAT) rate is 5%. The UAE has Free Zones with a special tax regime, where you can register a company. If your company operates outside the UAE, no VAT will be charged.

In the UAE, there are several Free Zones that offer simplified company registration procedures. There are a total of 45 Free Zones in the UAE, with the most popular being around 10. These zones allow for 100% foreign ownership and have no restrictions on the movement of capital and profits. For IT and service-based companies whose operations will be conducted outside the UAE, opening in Free Zones is recommended. Additionally, there is the option to register a company in Mainland. If your company will be operating within the UAE's domestic market, this option is more suitable.