Dubai, the popular destination with zero taxation!
Greece and generally Europe is going through a difficult time for any business activity. The energy crisis due to the war in Ukraine comes to be added to the existing wounds of the pandemic. Many entrepreneurs now migrate seeking opportunities in the United Arab Emirates and specifically in the Emirate of Dubai. It is the “New York of the desert” as they call it.
The company Callamus (Mr. Dimitrios Tourikis*) with a course of fourteen years in international tax planning, where it operates in Dubai and in Athens, – licensed by the local authorities International Free Zone Authority of the Emirate of Dubai with the ability to provide consulting services for company formation and management – presents below a series of advantages that arise for an entrepreneur from the formation of a company in Dubai.
Companies in the U.A.E. are divided into two main categories:
Into local companies (mainland companies) and into free zone companies. Each emirate has its own free zones with the corresponding incentives (e.g. Free visa forever).
And in both of the above cases, no taxes are imposed on the income of natural and legal persons, nor withholdings, nor property taxes, nor duties on goods that are imported into the country or re-exported. Also, there is no minimum share capital.
The only difference between local companies and free zone companies is that in free zone companies the investor has 100% ownership of the shares, while in local ones 51% of the shares must be held by a local sponsor, who with a second agreement (side agreement) transfers his percentage of the share capital in exchange for his participation in the profits, or a fee determined on an annual or monthly basis. In this case the local partner functions as a guarantor holding the share portion until the termination of the company.
In addition, in every case it is allowed 100% the repatriation of profits and capital back to the country of the investor. Another important advantage to choose the formation of a company in the U.A.E. is that it is not a necessary condition to submit annual financial statements, the so-called “closing of books.”
Finally, the Greece office of CALLAMUS based at 73 Akti Miaouli in Piraeus is ready to provide you with information (opening of company & account) so that you can operate in Dubai as well as all kinds of investments (tourism, real estate etc.) that you want to carry out there since it is 100% tax free!
*Mr. Dimitrios Tourikis (TEP, Chartered MCSI, Accountant – Tax Consultant Class A) is founder and CEO of Callamus
Source: sofokleousin.gr