Why Choose Thinqivity for Your Tax Advisory Needs in Dubai
Dubai has become a global hub for international trade, finance, and innovation, offering businesses a tax-friendly environment to thrive. The strategic location, world-class infrastructure, and pro-business policies have attracted investors from all over the world. For businesses looking to navigate the complexities of tax regulations, Thinqivity provides expert tax advisory services that ensure compliance, reduce liabilities, and optimize tax efficiency. Here’s why setting up your business with Thinqivity’s tax advisory services in Dubai is the smartest decision you can make.
Why Set Up a Business in Dubai?
Strategic Location
Dubai’s geographical location strategically positions it between Europe, Asia, and Africa, making it a natural hub for global trade and commerce. This access to over 3 billion consumers allows businesses to scale and expand in emerging markets.
Business-Friendly Environment
The UAE government offers attractive policies for foreign investors, making it easy to do business. With 0% corporate and income tax on many business activities, Dubai offers a tax-efficient framework that is ideal for businesses looking to minimize their tax liabilities.
World-Class Infrastructure
Dubai offers some of the world’s best infrastructure, including state-of-the-art airports, telecommunications, and logistics systems, making it an ideal environment for business operations.
Diverse Economy
Dubai has diversified its economy beyond oil, with key sectors such as real estate, tourism, finance, logistics, and technology thriving. This diversity creates a wide array of business opportunities for entrepreneurs.
100% Foreign Ownership in Free Zones
Dubai’s Free Zones provide foreign investors with 100% ownership of their businesses, a significant advantage for international companies looking to establish themselves in the region.
Tax Advisory Services by Thinqivity
At Thinqivity, we understand that tax planning and compliance are crucial aspects of your business success. Our expert tax advisory services are tailored to meet the unique needs of businesses in Dubai, whether you’re a startup, an established enterprise, or expanding into new markets.
Key Services Include:
- Tax Optimization: We help businesses minimize tax liabilities while ensuring full compliance with local regulations.
- VAT Advisory: With VAT being a key component of the UAE’s tax system, our team provides strategic VAT planning and compliance solutions.
- Transfer Pricing: For multinational companies, we offer transfer pricing services that help ensure compliance with UAE’s tax regulations while optimizing tax efficiency across jurisdictions.
- Tax Structure and Planning: We assist businesses in structuring their operations in the most tax-efficient way, maximizing deductions and reducing taxable income.
- Regulatory Compliance: With frequent changes in tax laws, Thinqivity ensures that your business remains compliant with the latest regulations and avoids potential penalties.
- Business Incorporation & Tax Filings: We handle your tax filings, ensuring timely submission of your corporate returns and other statutory requirements.
Types of Business Entities in Dubai and Their Tax Implications
When setting up a business in Dubai, choosing the right entity is essential for both operational and tax efficiency. With Thinqivity’s tax advisory, you can determine the best entity for your business:
Mainland Company
- Requires a local sponsor (UAE national) who holds 51% of the shares, except for professional services entities.
- You can trade freely within the UAE market.
- Tax Benefits: Dubai offers various exemptions and incentives, with most businesses benefiting from zero corporate tax.
Free Zone Company
- 100% foreign ownership allowed.
- Offers tax incentives like zero corporate tax and no import/export duties.
- Tax Benefits: Free Zones in Dubai offer significant tax exemptions for a set period, often up to 50 years.
Offshore Company
- Ideal for international businesses seeking to operate globally without a physical presence in the UAE.
- Tax Benefits: Offshore companies enjoy tax exemptions and high levels of confidentiality, making them attractive for holding and investment activities.
Steps to Set Up Your Business with Thinqivity’s Tax Advisory
Setting up your business in Dubai can be a straightforward process when you work with Thinqivity. Here’s how we guide you through the setup with a focus on tax efficiency:
- Business Activity Determination: The first step is to identify your business activity, as it determines the licensing and tax requirements.
- Select the Right Business Structure: Based on your business needs, we’ll help you decide whether to set up a Mainland, Free Zone, or Offshore company.
- Register Your Business Name: We ensure your business name is unique and complies with Dubai’s naming conventions.
- Tax Planning and Strategy: Our tax experts will work with you to develop an optimized tax strategy that minimizes liabilities while maintaining compliance.
- Obtain Necessary Approvals: Depending on your business activity, we’ll help you secure all required government approvals and licenses.
- Open a Corporate Bank Account: We assist in opening a business bank account to manage transactions efficiently.
- Visa Processing: We help secure employee and investor visas, ensuring compliance with immigration laws.
- Tax Filing and Ongoing Compliance: After business setup, Thinqivity provides ongoing tax advisory services, helping you navigate VAT filings, corporate taxes, and any regulatory changes.
Cost of Setting Up a Business in Dubai
Setting up a business in Dubai requires careful budget planning, and with Thinqivity, you can optimize your setup costs. Key cost factors include:
- Type of Business License: Different business types (commercial, industrial, or professional) have varying licensing costs.
- Office Space: Renting office space in Dubai, whether in a Free Zone or Mainland, impacts your budget.
- Visa Costs: The number of visas for employees and dependents will affect overall setup costs.
- Other Costs: Legal fees, document notarization, and local sponsorship fees (for Mainland businesses) may also apply.
Estimated Cost Range:
- Mainland Company: AED 15,000 to AED 50,000
- Free Zone Company: AED 10,000 to AED 30,000
- Offshore Company: AED 7,500
Why Work with Thinqivity for Your Tax Advisory Needs?
- Expert Tax Knowledge: Our team of tax experts has in-depth knowledge of Dubai’s tax regulations, helping you stay compliant and minimize liabilities.
- Tailored Solutions: We provide personalized tax advisory services based on your business structure and needs.
- Time Efficiency: We handle the complexities of tax compliance, allowing you to focus on growing your business.
- Ongoing Support: Our relationship doesn’t end after setup; we provide continuous tax advisory to ensure your business stays compliant with changing laws.
Contact Thinqivity Today
Ready to optimize your business setup with expert tax advisory services? Thinqivity is here to guide you through every step of your business journey in Dubai, ensuring tax efficiency and compliance at every stage.
Reach out to our experts today for personalized tax advisory services that will help you succeed in Dubai’s thriving market.
