Audited statements. Collection, evaluation and subsequent analysis of audit evidence.
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Jurisdictions: UAE
Basic information about the jurisdiction of the UAE
Jurisdiction | UAE |
|---|---|
Taxation | 0% - income tax (except for oil and gas processing companies, foreign banks) 5% - VAT |
Types of companies | Offshore - Offshore Companies Free zone –company from free economic zones Local - local companies with a 51% resident shareholder |
Is the registry open or closed? | Registry is closed |
International treaties | More than 50 agreements with various countries, including Ukraine, Kazakhstan, Austria, Azerbaijan, Germany and Poland They are only valid for local companies and free zones that can receive a tax residency certificate. |
Rates with Ukraine | 5% - dividends 3% - interest 0/10% - royalty |
Where to open a bank account? | Emirates NBD, Noor Bank, Mashreq, United Arab Bank |
Is it necessary to go to the opening of the company and for whom? | Director, founder |
Benefits | Respectable jurisdiction. Large selection of companies Not included in the list of offshore Work in dollars |
Type of company UAE Characteristic | Offshore Offshore company |
|---|---|
Emirate for registration | JAFZA Offshore, Ajman Offshore, RAK IC, RAK Offshore |
Company Form | IBC |
Features | Do not have the right to carry on business in the UAE, as well as work with other companies registered in the UAE, but have the right to open an account in a bank in the UAE |
Permitted foreign participation | 100% of the company may belong to a foreign citizen. |
Permitted Business Area | Only outside the UAE |
Office Requirements | The company cannot rent an office in the UAE. The address of an offshore company is the address of its registered agent. |
Visas | The company is not entitled to a visa |
Submission of the audit report | No audit report is required |
Type of company UAE Characteristic | Free zone |
|---|---|
Permitted foreign participation | 100% of the company may belong to a foreign citizen. |
Permitted Business Area | The territory of the free zone in which the company is registered |
Office Requirements | In some free zones "virtual" offices (flexi desk, smart office) are allowed. Available for rent in the freest zone |
Visas | The company has the right to a visa. The number of visas depends on the rented office. To open an account in free zones, shareholders of the company must obtain an investor visa |
Submission of the audit report | In some free zones, an annual audit report is required. |
Type of company UAE Characteristic | Local |
|---|---|
Company Forms | Limited Liability Company (LLC) Sole Establishment Civil Company Branch of the Foreign/ Free Zone Company |
Company opportunities | The actual work in the UAE. Obtaining trade (commercial), industrial or professional licenses |
Features | Local companies can operate in the entire Emirate. Local companies are eligible for visas depending on the area of the rented office. Local companies must keep records and file an audit report |
Permitted foreign participation | 49% in LLC companies; 100% in Sole Establishment and Civil Company |
Permitted Business Area | The territory of the entire emirate of registration |
Office Requirements | An office is required. "Virtual" offices are not allowed (penalty if checked - 20,000 drh.) |
Visas | The company has the right to a visa. The number of visas depends on the area of the rented office. Shareholders of the company have the right to investor visa (there are requirements for the amount of share capital owned by such a shareholder) |
Submission of the audit report | Annual submission of an audit report is required.
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* This information is informative, its use in practice requires additional advice on your individual business situation.