Tax Residency
Tax Avoidance Agreements
In today's globalized era, companies aren't limited to a single location; they operate worldwide. Their overall income can come from various sources in different countries. However, each country seeks a portion of this income through taxes. To prevent paying taxes to two countries at once, business professionals enter into agreements known as Double Tax Avoidance Agreements (DTAA).
Advantages Of Opening A Bank Account In The UAE
he UAE tax residency certificate is an official document granted by the Ministry of Finance of the UAE to individuals and businesses. It signifies that the holder is exempt from paying taxes in their second country of permanent residence, given that there exists a signed agreement between the UAE and that specific country. This certificate remains valid for a duration of one year from the date of issue.
Advantages Of Opening A Bank Account In The UAE
he UAE tax residency certificate is an official document granted by the Ministry of Finance of the UAE to individuals and businesses. It signifies that the holder is exempt from paying taxes in their second country of permanent residence, given that there exists a signed agreement between the UAE and that specific country. This certificate remains valid for a duration of one year from the date of issue.
Documents For Obtaining
A Tax Resident Certificate
For an individual
Documents
A copy of your passport, ID card and UAE resident visa
Lease Agreement
Certified copy of the lease agreement
Medical Examination
Passing a medical examination in one of the authorized medical institutions for the detection of diseases that are not compatible with the program. At this stage, a blood sample is taken from the vein and a fluorography is performed. This step usually takes 2-4 days.
Biometric Data
After medical examination, a person draws up an Emirates ID, where all relevant biometric and passport information about him is stored. To obtain this identification card, a person must go to one of the state identification centers and submit their biometric data (fingerprints, retinal scan, profile photo).
Issuance Data
The issuance of ID takes approximately 4-5 weeks. However, for resident visa it will be enough to provide a copy of the confirmation document from the identification center, which is issued to everyone after the submitting biometric data procedure.
Medical Certificatte
Now you have a certificate from an authorized medical center and a confirmation from the Emirates ID identification center. You need to apply for a resident visa in the UAE.
GDFA Certificate
A certificate from the General Directorate of Foreign Affairs and Residency indicating the number of days spent by a person in the UAE
Tax Return
Tax return of the country in which the documents will be submitted
Fee
Fee of AED 2,000 + AED 3 for an e-payment card (E-dirham)
Letter
The release of the letter takes 1 month
For A Legal Entity
To obtain the residency certificate, the company must have been in existence for more than a year. The required documents include:
- Trade License
- Constituent document certified by official authorities (not applicable for sole proprietors)
Lease agreement - Copy of the passport, ID card, and residence of the company director
- Application letter from the company
- Bank statement for the last 6 months
- Certified copy of the audit report on the company's financial condition
- Organizational structure of the company (not applicable for sole proprietors)
- Tax return of the country where the documents will be submitted
- Fee of AED 10,000 + AED 3 for an e-payment card (E-dirham)
- The processing time for the certificate is one month.
For A Legal Entity
To obtain the residency certificate, the company must have been in existence for more than a year. The required documents include:
- Trade License
- Constituent document certified by official authorities (not applicable for sole proprietors)
Lease agreement - Copy of the passport, ID card, and residence of the company director
- Application letter from the company
- Bank statement for the last 6 months
- Certified copy of the audit report on the company's financial condition
- Organizational structure of the company (not applicable for sole proprietors)
- Tax return of the country where the documents will be submitted
- Fee of AED 10,000 + AED 3 for an e-payment card (E-dirham)
- The processing time for the certificate is one month.