Corporate Services

2024 Updates
TYPES OF MANDATORY REPORTING IN THE UAE

Corporate tax & VAT ESR AML UBO records

Bookkeeping
Banking, insurance,
Starting from 2023 every Every business that investment management, Accounting, gold & Every business must
business in the UAE is generates a revenue over lease-finance, diamond trading, finance, submit/update UBO details
required to keep AED 375,000 needs to file headquarter, holding, real estate, CSP
accounting records as per for VAT registration or shipping, IP, distribution businesses are required to
IFRS standard, register for exemption. & service center are comply with AML
Corporate Tax & file a requirements & submit During company formation
required to file for ESR.
report in the end of the relevant reports. Upon Authority request
financial year Notification – June
Straight after licensing Upon amendment
Filing - December
Wage Protection System (WPS) Services

Jurisdictions subjected to WPS Required documents

• Mainland • Trade License
• Jafza • Client needs to at least have a personal
• DMCC bank account
• Emirates ID or Passport (All Partners)
• Employees’ Details (Employee List,
WPS Management Fees Labour Cards)
• WPS Registration Form (Signed &
Stamped)
ALL-INCLUSIVE PACKAGES
TAX & ACCOUNTING PRODUCTS

Our highly qualified accountants will help you efficiently

manage your finances. We provide bookkeeping,
reconciliation, financial reporting, payroll, VAT reports and
audit support, so you don’t have to hire an accountant.
CORPORATE SERVICES - BANK ACCOUNT OPENING

Opening a bank account in the UAE can be a challenging process

involving several strict compliance procedures mandated by the UAE
Central Bank. With our bank account opening service, this doesn’t have
to be the case.
Our team will assist your clients in opening a bank account, ensuring a
hassle-free experience.

• Business bank account

• Personal bank account
• Assistance with payment processor setup
• Assistance with brokerage account setup
CORPORATE SERVICES
OUR PARTNER BANKS

UAE DIGITAL BANKS UAE TRADITIONAL BANKS OFFSHORE TRADITIONAL & CRYPTO BANKING
DIGITAL

Adriatic Bank (Montenegro)

Wio Bank Abu Dhabi Islamic Bank (ADIB) SEBA bank
GBH CORIOLIS BANK (Comoros)
Mashreq NEOBiz First Abu Dhabi Bank (FAB) Multibank
Payoneer (US)
NBF Connect Abu Dhabi Commercial Bank Equibank
(ADCB) Interpolitan (UK)
RAK Starter
Mashreq Bank Multipass (UK)
United Arab Bank (UAB)
National Bank of Sharjah
Emirates NBD
Commercial Bank of Dubai (CBD)
Dubai Islamic Bank (DIB)
Banque Misr
Ajman Bank
National Bank of Fujairah (NBF)
RAKBANK
CORPORATE SERVICES
WILLS FOR EXPATS

WHY is it important to have a will? The following scenarios might occur in the absence
of a will:
• To ensure that your assets are
distributed as per your own • Personal and corporate accounts may be frozen
instructions until a court determines the distribution of bank
• To ensure the Sharia Law is not applied deposits. This process can extend from months to
to your children custody years, potentially denying family members access
• To protect your business, bank to these funds.
accounts (even joint accounts), • Joint bank accounts may also be frozen, preventing
properties from a long court process automatic access for surviving account holders.
with unknown results • Distribution of assets may not directly align with
the decedent's presumed wishes for spouse and
children.
• Custody of minor children may not automatically be
granted to the surviving spouse and could be
subject to court proceedings.
DIFC WILL VS AD CIVIL WILL

KEY ELEMENTS DIFC WILL AD CIVIL WILL

Legal framework DIFC Wills and Probate Abu Dhabi Law No. 14 of 2021 (as amended)
Registry Rules of 2019 (as
amended)
Competence DIFC Courts Abu Dhabi Civil Court

Language English English & Arabic (both languages mandatory)

Registration Online – the testator + 2 Online – testator only

witnesses
Types of wills 5 types – Full DIFC will most 1 type – either we use the Court sample, or we
common type may submit a tailored-made will
Testator Major (21-year-old), sound of Major (21-year-old), sound of mind and not UAE
mind and not Muslim. citizen
Asset coverage Assets located in the UAE and Assets located in the UAE and worldwide
worldwide
Force heirship rights None None

Declaration of guardian To be signed by individuals Not required

appointed as guardian in the
will who are not the
father/mother of the minor
children
Costs AED 18,900 per single DIFC will 8,400 + VAT per will
AED 24,150 for mirror DIFC
wills (only for married couple)
UAE GOLDEN VISA

WHO CAN GET A GOLDEN VISA?

In 2023, the UAE government expanded the eligibility criteria for the Golden Visa program,
making it even more accessible. The Golden Visa can be obtained by:

• Owners of properties worth more than AED 2 million

The UAE Golden Visa was launched in 2019 to
attract and retain professionals, investors, • Skilled workers with a diploma and a salary of more than AED 30,000
entrepreneurs and outstanding students from all • Individuals with a fixed deposit of more than AED 2 million in local banks
over the world. Our team will assist you and help
you have a seamless application process for a
• CEOs or managing directors of large companies
golden visa, so you can fully enjoy its benefits, • Professionals, including scientists, researchers, PhD holders, and data scientists, as well
which include long-term residency in the UAE, as members of certain professions, such as physicians and engineers
100% company ownership in the mainland, and
• UAE university students and graduates with a GPA of 3.8 or more
the opportunity to live, work and study in the
country.
BENEFITS OF THE UAE GOLDEN VISA

BENEFITS TIMELINE
• Golden visas for
• Extended visa validity – 10 years
property investors are
• Golden visa holders do not have typically issued in 5-7
to visit the UAE every six months working days
to keep their visas active.
• Other categories are
• Golden visa holders can apply for
visas for their spouse, parents,
usually taking 4-6
children and household staff weeks
under their sponsorship.
• Government agencies and
private companies provide
discounts to golden visa holders
on certain categories of services
GOLDEN VISAS FOR PROPERTY OWNERS: SCENARIOS

OPTION - 1 OPTION - 2
Title Deed - Fully paid & property handed over. Title Deed - Mortgaged property or payment plan with
10-year golden visa developer.
10-year golden visa

Requirements: Requirements:
• Value of the property should be over AED 2,000,000 • Value of the property should be over AED 2,000,000
• Title deed must be in the individuals name (not the company) • At least 1 million must be paid up No minimum payment required
• Spouse (husband or wife) can be on the title deed but in this case • Title deed must be in the individuals name (not the company)
marriage certificate needs to be attested up to MOFA. 1 of them • Spouse (husband or wife) can be on the title deed but in this case
will be the main golden visa holder & sponsor the other. marriage certificate needs to be attested up to MOFA. 1 of them
will be the main golden visa holder & sponsor the other.
List of documents:
• Title deed fully paid up List of documents:
• Copies of the passport, visa and emirates ID (if available) • Mortgaged: NOC Letter from the bank mentioning the loan amount
• Copy of the Medical Insurance if available and paid-up amount
• High resolution photo of applicant • Payment plan: SOA from developer + Pre-title deed
• Copies of the passport, visa and emirates ID (if available)
• Copy of the Medical Insurance if available
• High resolution photo of applicant
GOLDEN VISAS FOR PROPERTY OWNERS: SCENARIOS

OPTION - 3 OPTION - 4
Off-Plan Property Title Deed with partner (note that kids and relatives other
10-year golden visa than spouse are treated as partners too) 10-year golden visa

Requirements: Requirements:
• The property development that reached 40% of completion. We • Title Deed (4 million minimal value).
can get an exception for less % but it requires DLD manager’s • At least 1 million must be paid up by each partner No minimum
approval and might incur additional costs. payment required
• Value of the property should be over AED 2,000,000 • Copies of the passport, visa and emirates ID
• At least 1 million must be paid up No minimum payment required • Copy of the Medical Insurance if available
• Title deed must in the individuals name (not the company) • High resolution photo of applicant
• Spouse (husband or wife) can be on the title deed but in this case
marriage certificate needs to be attested up to MOFA. 1 of them
will be the main golden visa holder & sponsor the other.

List of documents:
• Pre Title-Deed/ Oqood/ Initial sale contract (2 million + value)
• Statement of Account for off-plan property and payment receipts.
• Copies of the passport, visa and emirates ID (if available)
• Copy of the Medical Insurance if available
• High resolution photo of applicant
2-YEAR PROPERTY VISAS

OPTION - 5 OPTION - 6
Title Deed - fully paid & property handed over – 2 YEAR VISA Off-Plan Property – 2 YEAR VISA

Requirements: Requirements:
• Value of the property should be over AED 750,000 • The property development that reached 40% of completion. We
• Title deed must in the individuals name (not the company) can get an exception for less % but it requires DLD manager’s
• Spouse (husband or wife) can be on the title deed but in this case approval and might incur additional costs.
marriage certificate needs to be attested up to MOFA. 1 of them • Value of the property should be over AED 750,000
will be the main visa holder & sponsor the other. • At least AED 750,000 must be paid up
• Title deed must in the individuals name (not the company)
List of documents: • Spouse (husband or wife) can be on the title deed but in this case
• Title deed fully paid up marriage certificate needs to be attested up to MOFA. 1 of them
• Good conduct certificate from Dubai Police will be the main golden visa holder & sponsor the other.
• Copies of the passport, visa and emirates ID (if available)
• Copy of the Medical Insurance if available List of documents:
• High resolution photo of applicant • Pre Title-Deed/ Oqood/ Initial sale contract
• Statement of Account for off-plan property and payment receipts.
• Copies of the passport, visa and emirates ID (if available)
• Copy of the Medical Insurance if available
• High resolution photo of applicant
• Good conduct certificate from Dubai Police
OTHER CATEGORIES

High-salary Professionals Specialists in engineering & sciences

Requirements: Requirements:
• No objection letter from the employer for granting a golden visa. • Bachelor’s degree or a higher certificate attested up to UAE MOFA
The duration of the applicant's service should be mentioned in the • Work contract in one of the following fields: Virology &
letter (should be not less than 6 month). His residence (visa Immunology, Artificial Intelligence, Big Data, Computer
records) in the UAE not less than 1 year. Engineering, Electronic Engineering, Software Engineering, Electric
• Passport copy, Visa copy Engineering, Genetic Engineering and Biotech Engineering
• Bachelor’s degree or a higher certification (should be attested up • Salary certificate (Salary not less than 30K)
to UAE MOFA) • 6 months bank statement
• For Free zone employees: Salary certificate issued by the free zone • No objection letter from the employer for granting a golden visa.
For mainland employees: both labour contract from MOHRE and The duration of the applicant's service should be mentioned in the
salary certificate from the employer: the salary must be at least letter (should be not less than 6 month). His residence (visa
AED 30,000 records) in the UAE not less than 1 year.
• Personal bank statement covering the last 6 months with a salary • Passport copy, Visa copy
reflected on it • Personal photo
• Personal photo
OTHER CATEGORIES

Bank Deposit Investor Special Talent Retired Visa

Requirements: Requirements: Requirements:

• A letter from the bank in Arabic confirming • Recommendation letter from the relevant • Have worked for not less than 15 years
the deposit amount (should not be less than authority inside or outside the UAE or be 55 years old
AED 2 million, and a note must be • CV/portfolio/media links or more at the time of retirement, and he
mentioned in the letter that the deposit will • Passport copy need to get proof of income not less than
not be forfeited, and in case the deposit is • Visa & EID copy AED 15,000 per month + Ejari.
forfeited the bank will inform GDRFA) • Personal photo • OR Own a property/properties of no less
• Passport copy than AED 1 million and above 55 years old.
• Visa copy Occupation to be printed on the visa will be • OR Have financial savings of no less than
• Personal photo based on the recommendation letter or AED 1 million or have a yearly income of
• EJARI is now a mandatory requirement license. AED 180,000 (15,000 per month) and
provide bank statement for the last six
months + Ejari.
• Visa valid for 5 years.