Tax Saving in UAE – High Net Worth Individuals
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Invest in a Tax Haven
UAE is a favorite choice for High Net Worth Individuals. The extravagant lifestyle, world-class infrastructure facilities, enormous business opportunities make UAE a major trade hub of the world.
UAE offers Residence Visa to foreign investors at a lower rate when compared to other European Nations and Caribbean Island Nations.
What are the Options in UAE to Obtain a Resident Visa and Tax Residence Certificate?
There are many options for obtaining a Resident Visa in UAE and become a Tax Resident of UAE eventually.
For the foreign investor looking at a favorable investment opportunity and obtaining a Resident Visa in UAE have the following options to look at:
- Company Formation – Open a Company at the Prestigious Dubai Airport Free Zone
- Gold Card Visa – 10 Year Long Term Visa by investing AED 10 Million in UAE across various sectors
- Property Purchase of AED 5 Million and above – 5 Year Residence Visa
- Property Purchase of AED 1 million or above – 3 Year Residence Visa
Apply for Tax Residence Certificate and Save Tax in Home Country
UAE is the perfect place for tax savings by applying for the Tax Residency at a lower cost. UAE is a Tax-Free Country, High-Net-Worth Individuals can benefit greatly by residing in the UAE. In UAE, one can apply for a Tax Residence Certificate if the individual has resided in UAE for more than 183 days. In the case of Corporates, any company that has been incorporated for more than a year is eligible to apply for Tax Residence Certificate in UAE.
Options in UAE to Obtain a Resident Visa and Tax Residence Certificate – Explained Set Up a Company in the Prestigious Dubai Airport Free Zone
The Dubai Airport Free Zone is a world-class Free Zone with an attractive Company Formation Package.
Get a prestigious Dubai Address for a fully furnished customized office (50 Sq.m) with a General Trading License for AED 196,050.
Key Business Benefits for the Investor
- Prestigious Dubai Airport Free Zone Address
- Fully Furnished large office spaces available
- The easy and comfortable business setup process
- Easy Corporate Bank Account Opening
- Strategic Location at the heart of Dubai and Proximity to one of the world’s busiest airport
- Premium Services, 5-Star Amenities, and infrastructure
- Enormous Scope for Business Networking and Growth
To know more about the Exclusive Company Formation Packages in Dubai Airport Free Zone, our dedicated Expert Business Consultants are always here to assist you!
Explore: DAFZA Company Formation Packages
Long Term Residence by Investment of AED 10 Million – Gold Card Visa
UAE government is also issuing a 10 Year Long Term Residence Visa for investors depositing AED 10 Million into Business, financial investments, company shares, real estate, in the UAE. The investment in Real Estate must be only 40% of the total investment to qualify for the Gold Card Visa.
To know more, read: Gold Card Visa
Purchase a Property worth of AED 5 million and get a Five Year Residence Visa
UAE government has introduced a 5-Year Residence Visa through Property Investors aimed at the High Net Worth individuals to come and settle in UAE for a longer duration.
With an investment of AED 5 million towards Real Estate Property Purchase in the UAE, the individual is eligible for a 5-year long term visa. Also, for investors looking at a shorter stay in UAE, there is a 3-Year Residence Visa for any property purchase that is worth more than AED 1 million or above.
There are Certain Criteria to be met to qualify for the Residence Visa through Property Purchase in UAE such as:
- The Property Value must be AED 1 Million or More (Based on Purchase Price on Title Deed and Not Current Property Value).
- The Property must be completed and liveable
- No outstanding payments or loan on the property
To know more details about the various criteria for each Property Visa, read: How to Obtain Residence Visa through Property Purchase
Corporate Bank Account for your Company in the UAE
UAE has a robust network of Banking Services with a host of UAE Banks and International Banks offering a variety of banking services to the business investors.
Aurion will coordinate with all major banks in the UAE and assist you in the Corporate Bank Account Opening. Each Bank in UAE offer specific Banking solutions for the investors, our team of experts will guide you to the right bank by assessing your business profile, investments, nature of the business, and business requirements. We are associated with all major UAE Banks – Mashreq, RAK Bank, FAB, ADIB, and Emirates NBD.
Talk to our expert Business Consultants, to know more about Corporate Bank Account Opening in UAE.
The second Passport – Obtaining Dual Citizenship by Investment
Several countries offer ‘Citizenship by Investment’ programs where investment is made in real estate and government funds of the particular country. Channeling investments to real estate and Government funds can get you a second passport, and become the Tax Resident in the country.
With the current situation of Pandemic, many countries are relaxing their respective investment-cum-citizenship criteria’s to attract more foreign investment and revive the economy. Here is a list of ‘Citizenship by Investment’ programs and the level of investment required to obtain a Second Passport.
|Country/Region||Approx. Investment Amount||Details|
|Thailand||USD 3000 (AED 11,019) for a Year||Thailand offers a residence visa for foreigners for 1 year.|
|Saint Lucia||USD 100,000 (AED 367,000) – Government Fund, or,
USD 300,000 ( AED 1.1 million) – Real Estate
|Investment In the form of donations to the National Economic Fund or Real Estate Investment|
|Dominica||USD 100,000 (AED 367,000) – National Transformation Fund, or, USD 200,000 ( AED 734,600) –Real Estate||Investment in the form of donations to National Transformation Fund or Real Estate Investment|
|Moldova||Minimum EUR 100,000 ( AED 622,000) for Single Applicant||A Minimum of EUR 100,000 Non-Refundable Deposit to the Public Investment Fund (PIF)|
|Latvia||Minimum USD 333,000 ( AED 1.2 million)||A Minimum of USD 333,000 for 5 years in a Credit Institution|
|Cambodia||USD 245,230 (AED 900,729)||Donation towards ‘Restoring and Rebuilding it’s Economy’|
|Turkey||USD 250,000 (AED 918,250)||Property Purchase and Other Investments in Turkey|
|Greece||EUR 250,000 (AED 1 million)||Property Purchase in Greece|
|Portugal||EUR 500,000 ( AED 2 million)||Property Purchase to get ‘Gold Visa’|
Almost all ‘Citizenship by Investment’ programs except the one for Turkey- require you to buy government pre-approved real estate properties.
Risk Involved in Getting Tax Residence through Real Estate Investment
There are few things to be kept in mind, most of the Caribbean ‘Citizenship by investment’ programs, the real estate is not completely owned by the individual investor. It would be a timesharing scheme where several joint owners have the right to use a property as a holiday home.
The opportunity to resell to a new buyer in the island nation would be mostly through the location of a new buyer who’s also intending to invest in the citizenship by investment program. Citizenship by investment in most of the European island nations follows a Multi-tier program. The investor has to make several types of investments to qualify for Citizenship.
So, when you assess all the options of ‘Citizenship by Investment’ UAE stands at a lucrative position due to the relatively low-cost investments and receiving enormous business benefits, tax savings, and world-class infrastructure. Aurion is associated with the Dual-Citizenship Programs of Cyprus, Commonwealth of Dominica, and St. Kitts & Nevis to facilitate investment opportunities for High Net Worth Individuals.
To know more please read: Second Passport & Dual Citizenship for HNIs
Open an Over Seas Company in Mauritius – Mauritius Global Business Company (GBC)
Setting up a Mauritius Global Business Company is a preferred choice for High Net Worth Individuals to save tax in their home country. The GBC Company provides a gateway to become a resident of Mauritius and apply for the Tax Residence Certificate for the company/individual to save taxes for revenue gained outside your home country.
The Mauritius Global Business company is considered as a resident entity and is liable to pay tax in Mauritius over its global earnings. (3 % tax, compared to 15% for other resident company).
Setting up a Mauritius Global Business Company will make you eligible to apply for a corporate bank account from the robust and secured networks of Banks. The Banks in Mauritius comply with international guidelines of banking operations and conduct due diligence at all stages of account opening, transactions, account management, and more.
To know more about Company Formation & Bank Account in Mauritius,