PRINZ VON PREUSSEN

United Arab Emirates (U.A.E.)

About

The UAE is a federation of seven emirates (equivalent to principalities), each governed by a hereditary emir who choose a president of the federation. The UAE consist of Abu Dhabi, Ajman, Dubai, Jufairah, Ras al Kaimah, Sharjah and Umm al-Quwain.  The UAE is located on the southeast of the Arabian Peninsula on the Persian Gulf. Total area is about 83.600sqkm and the population exceeds 8 million inhabitants. The capital is Abu Dhabi, while Dubai is the largest city. Islam is the official religion and Arabic the official lanugage. The majority of inhabitants are expatriates or foreign workers, hence the UAE are very international. The UAE’s liberal climate towards foreign cooperation, investment and modernization has prompted extensive diplomatic and commercial relations with other countries. Per capita income is the world`s seventh-highest. The economy is based on oil and gas, trading and tourism. UAE oil reserves are among the world`s largest. Especially Dubai has become a very popular tourist destination attracting tourists with a warm (in summer hot) climate, great infrastructure and beaches. Please find more information here.

Main Advantages

  • Total exemption form income, wealth, gift and inheritance tax
  • Comprehensive tax treaty network
  • No minimum stay required (in practice it is recommended to stay at least 1 day in Dubai every 6 months; It is not recommended to stay more than 183 days in another jurisdiction)
  • High standard of living and security, sunny climate and easy accessibility to Europe, Asia and Africa
  • International trading hub

Taxation

  • Income Tax: None
  • Capital Gain Tax: None
  • Inheritance Tax: None
  • Gift Tax: None
  • Wealth / Net Worth Tax: None
  • In the period from 2006-2009 the UAE was rated as the country with the second lowest effective corporate tax rate for international or foreign companies.

Cost of Living

  • Despite its high GDP and high standards of living cost is moderate in most cases. A 1 BR appartment can be found for 12.000USD/year rent. Purchase prices start at USD 300.000USD. Depending on the location prices can be significantly more expensive in prestigious areas. See details here.

Requirements

  • Constitution of a company