According to the UAE’s finance ministry, the United Arab Emirates will initiate a corporate tax starting in mid-2023, marking a significant policy shift as the country seeks to diversify its revenue streams. According to an official statement, the Gulf financial center will corporate tax in UAE business profits over 375,000 AED ($102,000) at a rate of 9.0 percent.
Everyone knows that the country has been tax-friendly and is home to several multinational corporations. Corporate tax in UAE is a step forward in the UAE’s ongoing commitment to meeting international standards for tax transparency and preventing unfair or harmful tax practices.
Now that UAE is introducing a new tax in Dubai, many international investors will be looking for alternative jurisdictions with 0% corporate tax. Our initial assessment is for our international clients to consider two reputable alternatives: Singapore and Hong Kong.
Tetra Consultants’ team of experts is happy to assist with Singapore and Hong Kong company registration, corporate bank account opening, and accounting/ new tax in Dubai services.
Offshore Company in Singapore
We help organizations looking to expand their operations into Asia in a seamless manner. Over the next decade, Tetra Consultants expanded our range of work to provide an extensive range of services to meet our clients’ business needs.
Tetra Consultants assists international clients in establishing a company in Singapore. Our corporate growth service package includes company registration with the Accounting and Corporate Regulatory Authority (ACRA), the provision of nominee directors, opening corporate bank accounts, and applying for employment passes. Singapore has one of the world’s most efficient and non-bureaucratic regulatory frameworks. Singapore has been ranked among the top two countries globally for ease of doing business in the World Bank’s Ease of Doing Business survey for over a decade.
The requirements for forming a company are straightforward, as is the procedure. The yearly obligations are simple and utterly void of unnecessary or complicated documentation. In most cases, ACRA, Singapore’s company registrar, approves the registration of a new company in less than a day. On average, corporate bank account opening will take around 3 to 4 weeks generally.
If properly structured, your Singapore entity will be legally corporate tax in UAE exempt. Contact our team of experts now for a free non-obligatory consultation on how to structure your Singapore entity.
Offshore Company in Hong Kong
Tetra Consultants aids our international clients in establishing an offshore company in Hong Kong. Over the last decade, Hong Kong offshore companies have become one of the most popular and preferred options for international businesses. Because of its reputation and ease of incorporation, many individuals and corporations choose to establish an offshore company in Hong Kong.
A legally structured Hong Kong offshore company will provide your company with UAE corporate income tax benefits, asset protection, and access to foreign trade and offshore banking. Setting up a company in Hong Kong, if properly structured, is ideal for your global business to enjoy advantages. The advantages that you can enjoy include an offshore bank account, international trade, and asset protection, among others.
Tetra Consultants strives to register your company with the Hong Kong Companies Registry as soon as possible. Our Hong Kong company incorporation package includes forming a Hong Kong limited liability company, the appointment of a company secretary, the provision of a legal registered address, and the opening of a Hong Kong corporate bank account.
Contact our team of experts now for a free non-obligatory consultation on the Hong Kong business setup.
Each engagement is approached with a results-driven mission and a make-it-happen mindset. Our team of experts makes a difference for clients in a variety of industries and all over the world. By providing intricate details about corporate tax in UAE. Tetra Consultants is available whenever you require an advisor, hands-on leader, or a team of professionals to help you advance.