Which country to choose for an IT company? To answer the question, it is important to understand the criteria for choosing a particular jurisdiction. Today we will talk about the advantages and disadvantages of the #UAE as a jurisdiction for the IT sector.
Advantages of registering IT companies in the United Arab Emirates:
🟢The laws in seven emirates are different, so you can choose the right option to suit your business requirements.
🟢There are three completely offshore zones (JAFZA, RAK ICC and Ajman). There is one "free zone", as well as the usual, standard conditions on the mainland.
🟢100% foreign ownership of local companies is allowed and the opportunity to rent a virtual office instead of a real one. There is no need to submit financial statements.
🟢There is an agreement to avoid double taxation with more than 50 countries, including Russia.
Let us remind you that the UAE did not join economic sanctions against Russia.
🟢Complete tax exemption is possible for an IT company, because this area is a priority in the country.
Let’s highlight three disadvantages:
🟠 Everything is complicated. Before registering, you need to understand all the intricacies and possible registration options. Then decide what is best to apply in a particular case.
🟠In March 2022, FATF placed the UAE on a list of jurisdictions subject to increased monitoring, known as its “grey” list, due to “strategic deficiencies” in the country's efforts to counter money laundering and terrorist financing.
🟠 To sell your IT product, you must be certified in one of the local areas: ROHs, IEC, TRA, G-Mark, ISO / IEC 2007.
Free zone IFZA in the UAE - why a business should be registered here ?
International Free Zone Authority, or IFZA, is one of the most popular zones for registering a company, as well as an ecosystem with streamlined logistics and a high level of service.
The main advantages of IFZA:
🟢 Possibility of 100% foreign participation in the capital of a legal entity. On the mainland UAE there are separate restrictions for non-residents on the percentage of ownership of a company's shares.
🟢 Remote company registration and virtual office are available.
🟢 Simplified requirements for companies when obtaining a license, including professional, commercial and industrial licenses.
🟢 Convenient location of IFZA on the territory of Dubai Silicon Oasis, which allows the company to be exempt from customs duties.
🟢 No currency restrictions or requirements for authorized capital.
🟢 100% repatriation of profits and capital.
🟢 When employing foreign employees at IFZA, health insurance is not required, which minimizes the costs of the business owner.
We will help you in registering a company with IFZA
コメント