As a rising and shining ground of advancements, innovations, and luxury, the United Arab Emirates manages to take a higher step deeper into the future every day. Attracting a huge portion of the world’s brightest investors and entrepreneurs to its lands, the value that United Arab Emirate possess continues to increase every single year. With its well-built cities, great opportunities, and overall free system, it sure is a must-visit city. The United Arab Emirates wishes to create safe and sound investing manners for all the people who wish to invest in the country and achieves to do so.
In the last two or three decades, United Arab Emirates managed to break countless different milestones. Now a huge financial ground as one of the most important centers of not only the Middle East, but the whole world, United Arab Emirates creates great opportunities for everyone. Astonishing tax systems accompanied with amazing possibilities, the United Arab Emirates sure is a place to invest in.
Apart from oil companies and foreign banks, there isn’t any type of corporate tax system regulated and enforced by the legal system of the United Arab Emirates. Any type of business registered in free zones is exempt from corporate tax for a certain time, and such time could easily be extended. Even though there isn’t a corporate tax system in the country, there is a different and special type of corporate income tax system in each emirate. Differing from emirate to emirate, the general corporate income tax system is payable by a progressive rate system, that reaches rates up to 55%. Even with the special tax systems that emirates have, these taxes are almost only enforced for foreign oil companies and branches of foreign banks.
On a general basis, most companies registered in the United Arab Emirates do not specifically require to pay a corporate tax return, regardless of their business as long as it's not anything related to petroleum. There is a small amount of tax imposed on commercial properties issued by respective municipalities in the UAB. 2.5% municipality tax paid by the owner is issued whenever a commercial estate is sold, and a tax of 5% is paid by the tenant in the rental of commercials.
With the great values that UAE manages to provide to its investors, it’s a must country to invest in if you wish to enhance your finances.