The Emirates have been seen as an Eldorado for decades. Every year, many expatriates leave their home countries for the peninsula. This phenomenon has only intensified since the beginning of the Covid-19 pandemic, with the mass arrival of individuals, particularly influencers and celebrities, who have made headlines in newspapers and tabloids. The Emirates, and Dubai in particular, have managed the situation brilliantly. A wave of expatriates has since arrived to settle and begin a new life under the Arabian sun.
If you too are attracted to the Emirates, here is what you need to know before making your final decision.
What are the Emirates?
The United Arab Emirates, or UAE, is a federal state formed by 7 independent emirates, namely:
Dubai, Abu Dhabi (the capital), Sharjah, Ajman, Umm al Quwain, Ras Al Khaimah, Fujairah.
More than 85 percent of the UAE's residents are expatriates from all over the world. More than 200 nationalities coexist daily, making it one of the world's most beautiful melting pots, as the Emirates are considered the country with one of the highest proportions of expatriates in the world.
Most of these expats live mainly in Dubai and Abu Dhabi, where life is pleasant and high salaries are very attractive.
Some good reasons to consider the Emirates for expatriation
Combining luxury and comfort, the UAE is the destination of the moment. Whether for the lifestyle, the absence of taxes, or tax optimization, everyone thinks of Dubai when setting up a company.
Whether you are creating an offshore company, a free zone company, or a mainland company, our firm can assist with your establishment in the Emirates. Merritt Middle East has specialized in company formation in the Emirates since 2009.
We also assist you with opening a bank account in Dubai and with residency visa procedures.
6 good reasons to move to the Emirates
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Business hub and business center
Company formation is relatively easy.
3 types of structures can be considered:
- The Mainland: this type of structure may sometimes require an Emirati sponsor who will hold 51% of the company's shares. However, for many activities, it has no longer been necessary for several weeks to have an Emirati sponsor to open a Mainland company;
- The free zone/free zone company : there are more than 46 free zones in the Emirates, including more than 20 in Dubai. In a free zone, ownership of the company is 100% foreign;
- The offshore: a non-resident company whose business is conducted worldwide except in the Emirates.
The economic environment is dynamic, and the authorities encourage entrepreneurship with a simple ecosystem that is favorable to company formation. In the Emirates, commercial licenses must be renewed every year.
Company formation entitles you to residency. You can then apply for residency for yourself, your family, and your employees.
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Professional opportunities
For those who do not wish to create a company but prefer to be employed, the Emirates, and particularly Dubai and Abu Dhabi, can be very attractive. Beyond the highly appealing salaries and benefits, career advancement opportunities are attracting more and more young professionals.
Companies established in the Emirates are always looking for new talent to hire. There are therefore opportunities for everyone.
It should not be forgotten that salaries are net and are not taxable. This means that you keep what you earn.
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Tax optimization
Who does not dream of fully enjoying the fruits of their labor without a taxing government in the background? The absence of income tax, corporate tax, tax on profits, capital gains, and dividends... are all factors that encourage expatriation and company formation in the Emirates.
In some countries, such as the Emirates, taxation is much more attractive than in your home countries, even for foreign investors.
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High-end infrastructure
In Dubai, everything is "the most ... in the world": the tallest tower in the world, the deepest swimming pool in the world, and so on. The Emirates are also known for having world-class universities, hospitals meeting international standards, and some of the most efficient airports in the world. Everything is in place to boost foreign investment in the country.
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Lifestyle
Living in the Emirates means living under the sun 365 days a year. Dubai offers a lifestyle and living environment that you will find nowhere else. It is one of the most popular destinations in the Middle East. The endless range of restaurants, supermarkets, shopping malls, hotels, fine-sand beaches, and other entertainment options makes the Emirates "the place to be."
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Safety
Feeling safe when settling in a new country is a crucial factor to consider. The Emirates can be proud to be considered one of the safest countries in the world. The crime rate is very low, and police officers and surveillance cameras are present on every street corner.
After considering all these factors, have you finally decided to take the plunge and discover the peninsula? Our firm handles all the
administrative procedures related to setting up your company, applying for a residency visa, opening a bank account, etc.
Our team receives clients by appointment from Sunday to Thursday, from 9:00 a.m. to 6:00 p.m., at our offices located in the
JLT center.
For more information and to make an appointment, please email
support@merritt.group or call +971 4 422 1345.
