Over the last 15 years the United Arab Emirates (UAE) and Dubai in particular has emerged as a new financial center with International Business in mind. The UAE has designed many types of local companies to facilitate the different needs of investors and international corporations which either want to trade within the UAE or want to take advantage of the banking secrecy and use the UAE companies for their tax planning solutions.
Germany
France
India
Indonesia
Italy
Luxembourg
Malaysia
Malta
The Netherlands
Singapore
South Korea
Ukraine
Cyprus
United Kingdom
Egypt
China
Sri Lanka
Switzerland
Learn more about the UAE and the 3 glamorous emirates of Dubai, Qatar and Saudi Arabia which act as financial centres in the Golf Region and welcome businesses from the European Union and from 3rd Countries:
Do all emirates apply VAT?
Some apply VAT whilst others don’t.
More popular destination for freezone business Dubai has introduced the VAT and so did the Saudi Arabia. On the other hand, Qatar, another popular destination has no intention of introducing it at the time being and thus is more preferred by some businesses.
Does the UAE (Dubai) apply Corporation Tax?
Not yet but they will for year endings commencing 1st of June 2023.
The FTA (federal tax authority) has introduced the Corporation Tax which will apply to all emirates commencing in 2023 and being accrued for payment in 2024.
Good news for everyone; the tax does not apply for profits generated outside the UAE hence nothing really changes for businesses and HNWIs (High Net Worth Individuals) who trade outside the UAE.
What will the rate of Corporation Tax be?
CT Rate is 9% for taxable income above AED 375,000. Below that amount there is no tax due!
What happens if my tax is within the UAE? Is there room for manoeuvre?
Yes. Tax planning can be applied. UAE profits derived from sales within the UAE are taxed and to reduce this there are several options we can assist you with.
When will the Corporation Tax be payable?
Approximately 9 months after the year end.
Is there a requirement for provisional tax payment etc (upfront of current years tax)?
No.
Is the UAE tax system sophisticated like the EU?
Yes, to everyone’s surprise the UAE tax system is sophisticated and straightforward!
Is it easy to create a local company in the UAE?
Yes. With more than few years of experience in the Company creation and banking services in the UAE we can now share that the UAE is up to speed both with Company formation and banking incorporation.
Is it easy to open a local bank account?
It is a straightforward process with the peculiarities that we know as local service providers; unlike the company formation opening a bank account for an international company or HNWI requires local knowledge and expertise. Having said this, the client experiences a smooth process.
Local filing requirements?
Accounting and audit work will be required almost by all UAE.
Learn more about Dubai (wikipedia).
Learn more about Qatar (wikipedia).
Learn more about Saudi Arabia (wikipedia).
In order to better serve our growing international clientele—particularly across the Middle East—CYAUSE Audit Services has established a fully-fledged audit and assurance firm, Berkley Limited, based in Abu Dhabi. This strategic expansion reflects our commitment to providing seamless cross-border services and strengthening our presence in one of the world’s most dynamic business regions. Berkley Limited operates within the Abu Dhabi Global Market (ADGM), an internationally recognised financial centre, ensuring that our clients benefit from a robust, transparent, and globally aligned regulatory environment.
Berkley Limited is a licensed audit, accounting, tax, and advisory firm regulated by the ADGM, adhering to the highest international standards of compliance and professionalism. (Berkley.ae) Through this platform, we are able to support both regional and international clients with tailored, high-quality solutions across audit and assurance, internal audit, financial reporting, and tax advisory. Our approach is built on delivering not only compliance, but confidence—enabling clients to navigate complex regulatory frameworks while focusing on the growth and development of their businesses.
By combining the expertise and reputation of CYAUSE in Cyprus with our operational presence in the UAE, we offer a truly integrated service model that bridges Europe and the Middle East. This allows us to support clients in relocation, international structuring, and expansion into new markets with efficiency and precision. Berkley Limited enhances our ability to act as a single point of contact for clients operating across multiple jurisdictions, reinforcing our commitment to long-term partnerships, strategic insight, and consistent delivery of high-quality professional services.
Visit our UAE Office: Berkley Ltd - ADGM Regulated Audit & Assurance Firm
UAE Golden Visa for High-Net-Worth Investors (2025 Guide)
Corporate Tax Return Deadline for UAE Companies
UAE Foundations: Tax, Compliance, and Structuring Considerations
Effective Management & Control of a UAE Company
How the UAE Taxes and Regulates Cryptocurrencies
Strengthening Our Presence in Abu Dhabi
Expanding Horizons with Our UAE Team (Dubai & Abu Dhabi)
Our team of experts can facilitate any enquiry you may have from incorporating your company anywhere in the Middle East to banking, substance services and on going professional support.
At present we specialise in Dubai, Qatar and KSA (Kingdom of Saudi Arabia) company formation and compliance support services.
Accounting, audit and if applicable tax services are routinely performed to all our clients anywhere in the world. Our multidisciplinary team will ensure that other linguistic or cultural differences are welcomed and valued.
What are you waiting for?
Contact us for a free first consultation at: enquiries@cyprusaccountants.com.cy or + 357 22 336 309.