The United Arab Emirates has become an increasingly popular destination for expats from all over the world.
With its diverse range of cultures, lifestyles, and experiences, the UAE is now one of the most sought-after locations for those looking to move abroad.
Before taking the plunge and relocating to the UAE, it’s important to understand the taxation rules that come with living in the country in order to ensure the move is dealt with effectively.
In this article, we will discuss why the UAE has become a favourite among expats. Providing our key tips for those considering a move.
Growing popularity of the UAE as an expat destination
In the early months following the Covid pandemic, the UAE quickly became an ideal place for expats looking to relocate. Today, people who move to the UAE are doing so to benefit from a more tax-efficient country, and to expand their business opportunities. With UAE tax and corporate tax rates among the lowest in the world, it’s easy to see why so many people are choosing to make the move.
In addition to the tax benefits, the UAE also offers a range of visa options for expats, making it easy to work and live in the country. Whether you’re looking to start a business or join an existing one, the UAE is an excellent destination for expats looking for opportunities.
All expats who move to the UAE agree that the lifestyle is the best. With world-class infrastructure, a thriving business scene, and a vibrant social life, it’s easy to see why so many people choose to make the move. From stunning beaches to bustling markets, there’s something for everyone in the UAE.
Overall, the UAE is an attractive destination for expats looking for a tax-efficient country and opportunities to expand their businesses. With the help of our expert team, we can ensure that your move to the UAE is seamless!
Benefits of relocating to the UAE for expats
There are a plethora of benefits to relocating to the UAE as an expat. One of the main benefits is the tax-efficient incentives for those creating a business in the free zone area. This can result in significant savings for expats, who can enjoy a higher income and a more comfortable lifestyle.
Even when the UAE introduce 9% corporate tax, from 1 June 2023, this is still one of the lowest taxation rates in the world. Plus, this corporate tax rate will only apply to mainland companies; so freezone companies will not be affected! By setting up a business in the UAE, companies can benefit from a favourable tax environment, while also taking advantage of the strategic location of the country, which serves as a gateway.
Moreover, the UAE offers a range of visas that cater to the needs of expats. From residency visas to employment visas, there are numerous options available that enable expats to legally reside and work in the UAE. This can be especially beneficial for those looking to relocate with their families, as it provides stability and security for their loved ones.
It’s worth noting that individuals can also choose to set up a business in the UAE without actually moving there. This is made possible by creating substance in the UAE, so you can still benefit from the tax incentives! This means that expats can reap the benefits of setting up a business in the UAE, without having to physically relocate to the country.
How RHJ Accountants can help
If you have plans to relocate to the UAE, we can offer you a comprehensive suite of services that will make sure everything goes smoothly! Just to list a few:
Our team in the UAE has extensive experience in assisting individuals and businesses with their relocation to the UAE, and we pride ourselves on offering tailored and personalised advice to each of our clients. Whether you are an individual or a company, we can help you make the most of the opportunities available in the UAE.
So, if you are considering a move to the UAE, be sure to arrange your FREE 30-minute consultation with our team today. Let us help you make the most of this exciting destination, and ensure that your relocation is as seamless and stress-free as possible.