Why invest in Middle East in 2023?
- Middle East has been the global leader in the oil sector for many years and has still a significantly impact in the entire region. To reduce the dependence on the same and diversify their economies, the Government welcomes foreign company registration in the service sectors providing them with incentives that varies from country to country.;
- Middle East and its geographical position is a good way to serve Europe, Africa and Asian markets at the same time. Dubai is the perfect example of tax exempt headquarters for the Middle East and Africa (MEA);
- Middle East has several countries with no corporate taxes such as Kuwait, UAE or Bahrain. However, income generated from these entities may be subject to personal income tax in our Client’s country of residence;
- Saudi Arabia remains the largest Arab market and is one of the world’s main trading nations in terms of goods and services. Saudi Arabia still depends on imports for most of its manufactured items and many of its food industry. Consequently, local residents are hungry for international products & services and are willing to spend on quality;
- A Dubai company is an excellent way to book global profits while legally minimizing taxes. There are no corporate tax, personal income tax, withholding taxes, VAT, and no capital gains tax. Exceptions apply to petrochemical companies, oil and gas companies and branches of foreign banks;
- It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile and they will fulfill those obligations annually. Let us know if you need Healy Consultants help to clarify your local and international annual tax reporting obligations.