Sharjah, UAE
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FAQ
Frequently Ask Question (FAQ)
Q.
How many legal forms of business ownership are there in UAE?
A.
The main legal forms of UAE are as follows:
- Sole proprietorship
- Civil Company
- Limited Liability Company(LLC)
- Partnership
- Private Share Holding Company
- Shareholding Company
- Branch of Foreign Companies/Representative Office
- Branch of GCC companies
- Branch of Free zone company
- Branch of UAE based companies
Q.
How to start a branch of a foreign company in Dubai?
A.
You can stat branch of a foreign company with 100 % ownership no local required; parent company documents attested will be needed to start the formality.
Q.
Will businesses have to report their business activities in respect of each Emirate?
A.
Businesses will need to complete additional information on their VAT returns to report revenues earned in each Emirate.
Further detail on this can be found in the Executive Regulation of the Federal Decree-Law No. (8) Of 2017 on Value Added Tax?
Q.
What is a tax agent?
A.
Article 1, Chapter 1 of the Federal Decree-Law Number 8 of 2018 or commonly known as the VAT Law, clearly states there that a tax agent is:
“Any person registered with the Authority in the Register, who is appointed on behalf of another person to represent him before the Authority and assist him in the fulfillment of his Tax obligations and the exercise of his associated tax rights states that a Tax Agent.”
Q.
How long must a taxable person retain VAT invoices?
A.
Any taxable person must retain VAT invoices issued and received for a minimum of 5 years.
Q.
Which goods are subject to excise tax in the UAE?
A.
The following goods are subject to excise tax in the UAE at the following rates of tax:
– Carbonated drinks – 50%
– Energy drinks – 100%
– Tobacco – 100%
Q.
A.
VAT is due on the goods and services purchased from abroad.
In case the recipient in the State is a registered person with the Federal Tax Authority for VAT purposes, VAT would be due on that import using a reverse charge mechanism.
In case the recipient in the State is a non-registered person for VAT purposes, VAT would need to be paid before the goods are released to the person.
Will VAT be paid on imports?
Q.
A.
The UAE has a comprehensive, government-funded healthcare system and a rapidly developing private sector that delivers a high standard of care. Healthcare is regulated at both the Federal and Emirate level.
The healthcare system in the UAE varies from emirate to emirate, but the care you will receive throughout the country is top-notch. Expats are able to take advantage of both public and private facilities. However, where Emirati nationals receive treatment at public facilities and clinics at a low cost, and sometimes free, ex-pats will have to pay a fee.
How Healthcare Works in the UAE?
