The UAE, one of the best migration destinations in the world, is praised for its commitment, forward looking approach and adaptability. With expatriates and immigrants accounting for almost 90%L of the population, the UAE is a great choice for business and a fine lifestyle, promoting a real sense of an improved and redefined way of living. It is acountry which supports its people and businesses, while maintaining stability to its economy and values as a nation, adhering to the traditional sense of belonging while at the same time emanating all that is modern and contemporary as a citizen of the world. It continuously works to brand itself as one of the most accepting and safest countries in the Middle East through various course of actions and governmental initiatives, creating a unique brand identity which is recognisable worldwide.
Dubai, in particular, has long gained the reputation of an ideal place to do business. The emirate is firmly established as the financial and commercial hub of the region, thanks to itsfavourable business conditions and shrewd investment decisions. These have further led Dubai to becoming one of the Gulf's most successful and rapidly expanding economic environments. It is a prosperous and diverse market and the employment growth required to match its expansion provides excellent opportunities for growth, development and an exciting lifestyle. It is a place where opportunities and people thrive; its English-speaking population and global outlook as well as its large expat pool mean more opportunity to find employees as well as create those conditions necessary to develop business.
The UAE's pro-business governing system and economy has successfully diversified away from oil and is focusing on other sectors and industries like logistics, tourism, trade and transportation, which currently account for around 60% of Dubai's GDP. Moreover, the large expat pool supporting the economy means that the government is continuously looking for ways to support them and their businesses, alongside the existing benefits, such as the advantageous tax regime offering 0% income, corporate and wealth tax, as wellas ,100% repatriation of capital and profits.
Its leading-edge infrastructure, whether that is in physical elements (airports, road network, public transportation, etc.), legal framework (rules and regulations, investor protection schemes, etc.), strategic location, convenient time zone and its ranking in best planned city in the world (2nd globally in ICT adoption, 5th in infrastructure as per the Global Competitiveness Report 2020) makes it an inevitable choice to immigrate to the UAE for those looking to set up their own business or to advance their career prospects.The new initiative of providing permanent residency is intended to attract even more talented people and investors who are ready to develop the country, making it better for living., while at the same time enhancing the competitiveness of the UAE and confirming the country's position as a global incubator.
Meanwhile, long-term political stability,cosmopolitan lifestyle, great weather, make the UAE an attractive home for anyone.A series of decrees were recently issued in the UAE, amending articles in the Personal Status Law, the Federal Penal Code, and the Federal Penal Procedural Law, Specifically, Dubai has launched a new residency programme which allows overseas remote working professionals to relocate and live in the emirate – along with their families – while continuing to work remotely for their overseas employer.Therelocation programme is valid for 1 year and residents will benefit from the 0% income tax of the country. Relaxation of personal freedom laws were also approved, allowing cohabitation of unmarried couples, loosening of alcohol restrictions and criminalization of ‘honour killings', reflecting this way the changing profile of the country to a safe destination for living. Families will also find the country safe and ideal for raising children also due to the exceptional education system.
Becoming a resident of a zero-tax jurisdiction is a desirable option for many individuals. Needs vary and the ways through which residency must be acquired and utilised is not a one-way route. By utilizing our knowledge and experience in the region, we have created a unique product and a scheme of arrangements, exploiting the benefits of the UAE, into the Loggerhead UAE Residency Package. This is a total solution that includes everything from the setup to maintenance of the structure, covering both our clients' requirements and the requirements of the government authorities. In this custom package we give upfront clarity of costs to our clients so that they can make a calculated decision.The needs of corporate and individual clients are inextricably linked. A corporate client in the wealth management industry relies upon the planning and long-term strategy of its individual owners; at Loggerhead, we realise the link between the two and offer a holistic approach to satisfy both ends; and the same user.
From our Dubai office, Loggerhead Corporate Services can help you identify the type of company most appropriate for your needs, and facilitate the full formation and company maintenance procedure. Please contact us for more information or to arrange an initial private consultation.
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