The Dubai International Free Zone (DIFC) offers a 40-year guarantee of zero taxes on corporate income and profits, which is reinforced by the United Arab Emirates' network of treaties to avoid double taxation with regulators and central banks. This applies to all companies operating in Dubai, except for those in the oil and gas and banking sectors. To further encourage foreign investment in Dubai Internet City, the DTMFZA has enabled several tax incentives. Although the formal legislation on the Corporate Income Tax (CIT) has not yet been published, the Ministry of Finance (MOF) announcement states that CIT will be paid on the profits of companies in the United Arab Emirates, as contained in their financial statements prepared in accordance with internationally acceptable accounting standards.
In addition, foreign companies acting as shareholders of Dubai companies may benefit from the double taxation agreements that the United Arab Emirates has signed with their home countries, which offer more tax advantages. Business owners who have created companies in the United Arab Emirates can use nominated directors and shareholders to increase privacy. All publicly traded companies must submit quarterly revised and audited financial statements in English and Arabic to the Securities and Commodities Authority, which publishes these annual statements on its website. The services offered by this organization include bookkeeping for pre-archived corporations from the United Arab Emirates to help business owners receive their company faster.
Other services include offshore banking, trust formation, wealth planning, and more. The DIFC offers a wide range of incentives for businesses that are formed in Dubai. These incentives include zero taxes on corporate income and profits for a period of 40 years, as well as double taxation agreements with other countries that offer additional tax advantages. Business owners can also benefit from increased privacy by using nominated directors and shareholders. Furthermore, all publicly traded companies must submit quarterly revised and audited financial statements to the Securities and Commodities Authority. In addition to these incentives, businesses formed in Dubai can also take advantage of a variety of services offered by the DIFC.
These services include bookkeeping for pre-archived corporations, offshore banking, trust formation, wealth planning, and more. All of these services are designed to help business owners receive their company faster and more efficiently. Overall, businesses formed in Dubai can benefit from a wide range of incentives and services offered by the DIFC. These incentives include zero taxes on corporate income and profits for a period of 40 years, double taxation agreements with other countries that offer additional tax advantages, increased privacy through nominated directors and shareholders, and a variety of services such as bookkeeping for pre-archived corporations, offshore banking, trust formation, wealth planning, and more.
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