With world-class infrastructure and travel links, a thriving real estate market, political stability and a diverse economy, the UAE is an appealing destination for investors and businesses looking to relocate or set up in the region.
At Sanctuary, we provide a full range of support and advice including company, trust and foundation set ups, residency visa applications, and assistance with opening personal and business bank accounts.
There are various routes to becoming a UAE resident, including the recently introduced Golden Visa, providing individuals the right to live and work in the UAE.
We advise our clients on the best route for their needs and circumstances, take full ownership of the process, and alleviate some of the stresses associated with moving to a new country.
A Golden Visa provides individuals with 10-years residence in the UAE, enabling them to live, sponsor family members, work and study freely in the region, and to feel secure about their future here. There are a number of routes and requirements to secure a Golden Visa.
Our team brings a wealth of experience and knows which route is most suitable and how to expedite the application process for clients who are new to the region as well as those already resident here.
The UAE offers a range of options to those looking to establish or expand their business in the region. Companies can be set up and licensed in the mainland or in one of the 40+ Free Zones.
We have worked with over 25 UAE Free Zones (including DIFC, DMCC, ADGM and DWTC) and have an extended understanding of their processes and requirements. We use our experience to identify the most suitable way forward for your business, taking into account costs, local taxes, licence availability and office space. We will then set up and administer your corporate vehicle and obtain the relevant commercial licences needed to operate.
The UAE is a civil law country, where rules on forced heirship can apply. It is therefore important that UAE assets are held in ways that meet your personal objectives on succession.
Many clients will opt to own assets through an SPV (special purpose vehicle) or a foundation to secure the succession outcomes they want. An SPV can help you to ring-fence assets from personal financial and legal risk. A foundation can also provide asset protection for your family and future generations.
The UAE allows foundations and SPVs to be established in the DIFC, ADGM and RAK Free Zones, with each jurisdiction offering different benefits.
Our team take time to understand each client’s circumstances and objectives, before proposing a way forward. We then provide full support in establishing the chosen vehicle for its ongoing management. We can also act as a council member for your foundation.
UAE banks are regulated by the Central Bank of United Arab Emirates, but they each have their own compliance and specific policies.
Our team’s experience with the UAE regulations, and our long standing relationships with key banks here, help to speed up the process and avoid unnecessary delay.
The UAE Government introduced Corporate Tax with effect from 1 June 2023, the first direct tax to be levied in the Country, and the first major tax update since the introduction of VAT in 2018. Corporate Tax will impact every UAE company as well as some individuals and foreign entities.
Our team of experienced tax specialists can advise on the legislation’s impact on new and established businesses, and on how to prepare for and comply with its requirements. We also offer ongoing tax administration and compliance services.
