We will help you figure out how to use the country's opportunities for legal assistance.
tax optimization and protection of your assets.
The UAE offers a unique opportunity to conduct business tax-free in a prestigious country, ensuring a high level of privacy and minimal risks.
In 2000, the OECD published a blacklist of "tax havens", which became a starting point for monitoring and adjusting the tax legislation of low-tax countries. The main goal is to fight tax evasion and ensure transparency of financial flows. Key Aspects: CRS (Common Reporting Standard): automatic data exchange between countries. BEPS (Base Erosion and Profit Shifting): measures against tax base erosion and profit withdrawal. AML (Anti-Money Laundering): Anti-money laundering standards.
Offshore jurisdictions have ceased to be an effective tool for minimizing taxation, hiding beneficiaries, and international trade and investment. The reason was global changes in legislation aimed at countering the " erosion of the tax base "(BEPS) and increasing business transparency, initiated by the OECD and supported by the FATF.
Over the past decades, the OECD has been actively fighting low-tax jurisdictions, encouraging improvements in the global tax system.
Many offshore companies were blacklisted, which led to restrictions on access to international financial instruments.
Countries around the world have made commitments to counteract tax base erosion and profit withdrawal by implementing AML (Anti-Money Laundering) and CRS (Automatic Information Exchange) standards.
Disclosure of information
Investors and owners of legal entities can no longer remain anonymous.
Introduction of taxation
Corporate and individual profits in low-tax jurisdictions are now subject to taxation.
CRS Standard
Automatic exchange of financial information became mandatory, which led to the disclosure of transaction data.
Bans on nominal ownership
Nominee ownership and trust relationships in offshore companies were subject to restrictions.
Pressure on the banking system
Tougher KYC (know your customer) procedures and restrictions on interaction with offshore jurisdictions.
Additional fees
Transactions from offshore companies are now accompanied by increased commissions and fees.
The UAE has become an attractive alternative to offshore jurisdictions due to its reputation, transparency and lack of international sanctions. Our team of experts will help you develop a personalized plan for creating a business that meets your goals, minimizes the tax burden and ensures full compliance with the law.
Changes to the rules for offshore jurisdictions To meet the requirements of the international community and get out of the " black list” OECD, many countries have introduced strict measures aimed at increasing transparency: Opening registers with information about beneficiaries. Introduction of income and capital taxes. Ban on anonymous ownership of assets. Joining the standard for automatic exchange of financial information (CRS).
The only way to protect yourself from CRS is to obtain the status of a tax resident in the country of doing business. However, this step is accompanied by difficulties, including tax obligations that arise when changing the status from non-resident to resident.
When obtaining the status of a resident in Gibraltar, the profit is taxed at the rate of 10%.
In the jurisdictions of the British Virgin Islands and the Bahamas, income tax is 10%.
The rate varies from 10% to 20% depending on the canton where the business is registered.
In the Bahamas, VAT was increased to 12% in 2018.
In the British Virgin Islands, local companies are subject to a tax of 8% on employees ' salaries.
In Seychelles, the tax rate for resident companies increased from 15% to 33% in 2017, depending on the amount of income.
"The United Arab Emirates is a privileged place for doing international business"
Stable legislation, state guarantees for foreign investors, closed registers of owners and complete confidentiality make the UAE an ideal platform for conducting international business. The Emirates maintains a neutral position in political and military conflicts, and actively cooperates with international financial organizations and interdepartmental structures. These factors contribute to prestige and credibility on the world stage, making the country a leading center for tax planning and investment.
We will provide professional advice on setting up a company in the UAE and develop personalized solutions that will help you achieve your business goals, including optimizing your international operations.
Get a consultationOffshore and low-tax jurisdictions are rapidly losing their attractiveness for registering legal entities that plan to carry out international activities and international tax planning.
These changes have reduced the attractiveness of traditional offshore companies for investors.
Analysis and selection of the optimal legal form and place of registration.
Prompt completion of all procedures thanks to cooperation with licensing authorities.
Rent of offices for passing KYC checks and confirming the Control and Control Center.
Assistance in passing KYC for onshore entities and their shareholders.
Getting a tax domicile certificate for CRS protection.
Legal, tax and accounting support, confirmation of Economic Substance.
We will select the appropriate legal form and advise on the application of legal entities from the UAE for international business, tax planning and investment. IBS Group will provide full support, from company registration to obtaining the status of a tax resident and providing outsourcing services.
Ensure the success of your business in the UAE with IBS Group!
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