- Recommendations on moving abroad (on example of the UAE)

Recommendations on moving abroad (on example of the UAE)

Recommendations on moving abroad (on example of the UAE)

Everyone knows that moving abroad requires certain efforts. Such a responsible decision cannot be spontaneous and, as a rule, is accompanied by some necessary preparations. A person needs to answer some extremely important questions and find out a lot of nuances concerning the choice of the country. In fact, people often improperly or distortedly imagine the process of moving abroad. The main issue that concerns everyone who is about to decide to move abroad is as follows: "Which country to choose?"

Many wealthy people often choose one of the European countries. However, as a rule, they do not know what difficulties they will have to face when planning to move, for example, to Germany or France. What should you pay attention to first? First of all, it is necessary to estimate how difficult or easy it is to get an official status in the chosen country. The second most important issue is the one are the costs. An equally important aspect is the income tax rate for residents of the country.

Many of those prosperous countries in Europe, unfortunately, do not actively issue permits for residence. Evidently, life in Sweden or Germany has some particular advantages. But you need to take into account the complexity of obtaining a residence permit. At the same time, becoming a resident of such countries, your income can be taxed with up to 50% rate, which is very substantial for investors and entrepreneurs.

There are other countries where the income tax is much lower, and the procedure for issuing a residence permit is much simpler. There are countries programs facilitating obtaining the residence permit for investment. The UAE is one of such countries. If the United Arab Emirates is your choice, it takes only a couple of months to obtain a residence permit. There are several common ways of obtaining the residence permit in the UAE, for example, by purchasing real estate, or becoming a shareholder in the UAE company.

What is the most important thing in the processing of residence permit in the UAE? Undoubtedly, this is the reliable and comprehensive information. The availability of such information is the key to the successful migration. Here's what you need to find out first:

    • What documents should be provided for the application to a residence permit?
    • What requirements must be met;
    • How long will the procedure for obtaining a residence permit take?

Unfortunately, if you make a decision remotely, it is not always correct. We recommend you to use tourist visas for yourself and your family members to come to the UAE and find out certain issues in person. To make the right decision, you will have to spend at least some time on the territory of the country.

Please note that in the UAE there are different types of residence permit. Not all of them permit you to work or to do business in the territory of the state. If your work and your business are a key issue, you need a residence permit obtained by registering a company. Remember that after moving to another country, you become its tax resident. This is extremely important for counting the obligations for the total tax payable. The UAE is known throughout the world for various reasons including its tax-free environment. Means, once you become UAE resident, your personal income tax in the UAE would be at zero rates.