The UAE and Germany in May 2022 celebrated the 50th anniversary of establishing formal diplomatic ties. While celebrating the anniversary, Ernst Peter Fischer, the German Ambassador to the UAE, revealed that estimated 15,000 Germans live in the UAE and their number has not dwindled even after the pandemic. The country offers excellent living conditions, easy connectivity, robust healthcare services and a warmer climate.
Moreover, the landscape of business setup in the UAE is more conducive to foreign investors including Germans. If you are an entrepreneur, business setup consultants in the UAE can help you set up a company hassle-free. The following article will provide you with essential insights for a German citizen to move into the UAE in 2023:
Long-Term Residency Options
Making the UAE a second home is no longer a hard task for foreigners including Germans with the introduction of the UAE Golden Visa and the Green Visa. The UAE Golden Visa offers 10-year residency for eligible categories without the need for a sponsor. Meanwhile, you can also apply for a UAE Green Visa without a sponsor to enjoy a 5-year residency. Both visas can be renewed upon expiry with the option to sponsor the family members. Business setup consultants in Dubai can help you obtain the Golden and Green Visas.
No Personal Income Tax
If you are in Germany, you can be subject to a personal income tax of up to 45%. However, you can move to the UAE where there is no tax on your personal income. The UAE, however, imposes a corporate tax on business profits at a rate of 9%. The UAE corporate tax rate is significantly lesser than the corporation tax in Germany which is 15.8% as of 2022.
Excellent Healthcare System
The UAE has one of the best healthcare systems in the world powered by numerous private clinics, hospitals and medical centres. Nearly all the major healthcare players have set up their bases in the UAE. Moreover, medical insurance is mandatory by law in Dubai and Abu Dhabi. The robustness of the UAE healthcare system grabbed international attention when the pandemic struck the world in 2020. When all the major countries had imposed a year-long lockdown, the UAE’s lockdown lasted only a couple of months.
High Standard of Living
Living conditions in Dubai are unique and varied. The standard of living and range of services is improving at an unprecedented rate among the world’s growing economies. When you move to Dubai, you’ll have access to world-class amenities and high-quality goods that will allow you to live your life your way. In Dubai, you can choose from a wide variety of lifestyles while taking advantage of the city’s lively and engaging culture.
Personal Status Law for Expatriates
The new Federal Personal Status Law (Federal Law No. 41 of 2022) took takes effect on February 1st 2023 that governs key family matters such as marriage, child custody, divorce and inheritance. The new law seeks to promote equality between men and women, address the issue of joint custody, and expedite divorce procedures for non-Muslim expatriates in the UAE.
Make a Move through Business Setup Consultants in Dubai, UAE
There are many things to look forward to when you move to the UAE. With abundant business opportunities, world-class amenities, and an eclectic culture, the emirate is surely one of the most desirable places to live. If you’re an entrepreneur with a lot of concerns to attend to, securing your move can be a significant challenge. Thankfully, you have the option to hire the services of business setup consultants in Dubai such as Jitendra Business Consultants (JBC).
We have a dedicated team of highly qualified professionals who are well-versed in UAE Immigration Law and Labour Law. By imparting their expertise and experience, the consultants can make the process of business license approval in the UAE easier. We will also keep you on the right side of the law by providing services related to Economic Substance Regulation (ESR), Ultimate Beneficial Ownership (UBO), VAT, Corporate Tax, and Anti-Money Laundering (AML).