United Arab Emirates
United Arab Emirates (UAE) offers special Free Economic Zones to strengthen the investment climate in the emirate of Ras Al Kahimah (RAK), approximately 110 kilometers northeast of Dubai. As RAK is not a major oil producer, it seeks to develop industry. Recent legislation has sharpened international interest in offshore business. No income, wealth or sales taxes are assessed individuals with businesses incorporated in RAK. Due to the unique legal system, a high number of re-export firms enjoy remarkable tax relief.
Main features & Advantages
- 100% repatriation of profits and capital is allowed
- No withholding, import or export taxes
- No accounting or reporting requirements
- No corporate taxes
- Advantage of RAK Free Trade zone
- Higher incorporation fees than traditional offshore jurisdictions
