Publications

An Egyptian passport is rarely advertised and rarely offered as a fully-fledged service due to its extremely low appeal to clients willing to invest in another country for a second passport. It's true that only a few people approach us, the experts at the international legal consulting firm Antwort Law, with such a request. However, we still feel it's important to inform you about this option, which many entrepreneurs don't even know about and which, who knows, you might one day need due to your business and current geopolitical circumstances, as recently happened to a long-standing client of ours.

Following the introduction of a 9% corporate tax in the UAE, many companies fell under its purview and began paying it. However, not all entrepreneurs are aware that, in practice, some of the taxes paid under this system may have been calculated incorrectly, meaning it's possible to review and reduce the amounts. In this article, the experts at Antwort Law, an international law firm headquartered in Dubai, will discuss the most common mistakes companies and their employees make when accounting for foreign-sourced income, which can lead to additional financial costs. We'll help ensure your business doesn't overpay a single dirham.

Thanks to the systemic regulation of the crypto industry, the UAE is one of the few countries in the world well-suited for most crypto projects, even the most ambitious ones, including launching their own cryptocurrency. However, according to statistics, 80% of such entrepreneurial endeavors get stuck at the stages of legal planning/structuring, licensing, or banking compliance.

About a third of all companies in the UAE violate their trade license requirements by engaging in activities other than those specified, considering trade codes merely a formality. While such disregard might go unnoticed in some countries, in the UAE it is illegal.

Many entrepreneurs in the UAE whose companies provide digital services conduct meetings with clients and partners online and lack employees or physical offices. They believe that conducting their business remotely is acceptable to most local banks. However, since 2021, following the introduction of the Central Bank of the UAE Rulebook and the Financial Action Task Force (FATF) to assess the actual economic activity of each client, banks are treating online companies with greater caution and blocking their accounts more frequently.

If you've outgrown direct investment in your own country as an individual and are considering the next level, a safer, more profitable, and longer-term option, consider the UAE. Unlike other popular jurisdictions for this purpose, such as Luxembourg or Singapore, the UAE offers numerous tax incentives that will save you millions in the long run.

As a rule, the registration of a company in the UAE is given a lot of attention by the owners due to the understanding that a legally competently constructed process affects the future success of the business. However, these same entrepreneurs, some having faced losses, some having switched to other projects, or for some other reason having decided to close the company, treat the liquidation process much less carefully, and often even indifferently.

The dream of many entrepreneurs – a successful business with minimal taxes and remote management – ​​is a reality in the UAE. This country offers a unique combination of zero corporate tax for many companies, a highly developed infrastructure, a business-friendly government, and an international business environment.

Strict banking compliance is a reality for businesses worldwide today. Not only traditional banking institutions, but also historically loyal processing platforms are being extremely cautious and cautious. Sudden account suspensions or even closures without explanation or opportunity for discussion are no longer uncommon, especially for high-risk businesses, which traditionally include investment, fintech, cryptocurrency projects, and other structures involving international payments. Antwort Law, an international legal, tax, and banking consulting firm, has been opening and maintaining corporate accounts for many years, and here we will share a real-life case from our practice that clearly demonstrates that it is always worth fighting for your own account.

The UAE attracts entrepreneurs and investors from around the world primarily due to its uniquely favorable tax regime for both businesses and residents. When choosing this country as your tax jurisdiction, you are required in some cases to document this by obtaining a Tax Residency Certificate, issued by the Federal Tax Authority (FTA). The lawyers at the international consulting firm Antwort Law assist their clients in completing this procedure and successfully obtaining a Tax Residency Certificate (TRC). In this article, we will share the procedure and nuances of this process, based solely on official information, so you can take advantage of all the tax benefits.