How to get tax residency certificate in UAE?
Before going into details about how to get tax residency certificate in UAE both for Individuals and Companies it is necessary to understand what exactly tax residency certificate is and why it is required and what are the advantages associated with it.
What is Tax Residency Certificate?
Tax Residency certificate basically is a document that shows that the tax payer whether individual or company is a resident of the country issuing the certificate for tax purposes and therefore should be charged tax accordingly. Means his income should not be taxed again in another country having double tax treaty with country issuing tax residency certificate.
Advantage of Tax Residency Certificate:
Countries around the world have entered into mutual tax agreements (Avoidance of Double Taxation). The prime objective of such treaties is that if a person is charged tax in a country where he is generating income the same income should not be taxed again when transferred to another country.
In order to take advantage of such double taxation treaties every country issues tax residency certificate so that it can be shown in another country and double taxation on the same income can be avoided.
Naturally next question that comes into mind is that who issues tax residency certificate in United Arab Emirates?
Initially the authority for issuing tax residency certificate was with ministry of economy however recently the Government has transferred the authority to Federal Tax Authority UAE.
Finally coming to the documents required for issuing Tax Residency Certificate the details are as under:
Documents required to obtain Tax Residency Certificate for Individuals:
- Passport Copy
- Valid Residence Copy
- Certified Tenancy Contract / Title Deed.
- Certified bank statement for at least 6 months during the required year.
- Source of Income/Salary Certificate.
- Immigration Report of residency (Exit & Entry report)
Documents required to obtain Tax Residency Certificate for Companies:
- Valid Trade License.
- Certified Articles of establishment; incorporation; founding; institutionalizing or Memorandum of association.
- Copy of identity card for the Company Owners or partners or directors.
- Copy of passport for the Company Owners or partners or directors.
- Copy of Residential Visa for the company owners or partners or directors
- Certified bank statement for at least 6 months during the required year.
- Certified Tenancy Contract / Title Deed.
- Certified audited report.
If you are looking for a reliable company that can take care of all these requirements we at Taxhelp can surely assist you in obtaining tax residency certificate in affordable price with peace of mind.
For further details kindly contact us at the details mentioned at the contact us page.