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  • UAE. as a global business hubDatum27.12.2022 10:07
    Thema von DonaldWalker im Forum Dies ist ein Forum in...

    Before economic development, the United Arab Emirates (UAE) was one of the least developed countries in the world. At present, however, it has reached an income level comparable to that of the economically most developed industrialized nations. The oil revenues have allowed the country to skip different stages of development and focus on mass consumption, leading to savings and capital accumulation necessary for its economic development. The country's authorities have successfully implemented human development policies since the early 1970s, leading to long-term economic development in the UAE that has been followed by industrialization, urbanization and modernization.

    The UAE is not a territory dependent on any other country or government agency, which means it is not subject to EU regulation either. The UAE is not a member of the Organization for Economic Co-operation and Development (OECD) and does not participate in foreign automatic exchange of information. It is famous for its modern offshore legislation that allows for full foreign ownership without the need for a local partner while conducting business in UAE territory. It also has efficient and up-to-date means of communication that can easily handle all business activities in a short time.

    Authorities of the UAE Free Zones
    The UAE has two main offshore authorities, one located in Jebel Ali Free Zone (JAFZA) and the other in Ras Al Khaimah (RAK), and another jurisdiction called Ajman Freezone (AFZA), a free trade zone in Ajman and from seven emirates in the United Arab Emirates. They have been known for shipbuilding and commercial activities in the maritime field in recent decades. Today, however, they are better for their industrial sector. These refer to international business companies that do business internationally and offer business people the opportunity to own property in the UAE that can be further used as a vehicle of trade, as well as to hold bank accounts and other useful commercial options for doing business on a global scale.

    These offshore agencies offer fairly competitive prices, business transparency along with the protection of clients' private data via secured systems and also a dedicated manager who is available all year round. Another feature is that company registration with UAE offshore authorities usually takes around 2 days to be completed, which is another attractive feature for all business people worldwide.

    Benefits of the UAE company
    In general, there are various advantages that can be associated with offshore companies in the UAE, due to which they have had a good reputation over the decades, especially in the last 20-30 years when the UAE and its companies have become one global economies despite having no tax-refugee stigma attached to them. UAE offshore company is also known as international company or non-resident company. First of all, these are anonymity, protection of privacy, lack of an audit, lack of accounting or reporting requirements, lack of obligation to deposit the capital with the bank, lack of a minimum capital requirement. In addition, there is a full tax and duty exemption as well as a full third-party ownership permit. All nominee services are performed by solicitors and another added bonus is that the established offshore company can own property in the UAE.

    Businesses in the UAE conduct rigorous international due diligence to ensure adequate levels of protection and have rigorous risk control procedures in place to prevent unregulated or undesirable elements in doing business. These are the conditions that are suitable for businessmen and entrepreneurs who trade via the Internet, a wide range of traders, expatriates, consultants and consultants who hold intellectual property rights for the custody of real estate or for inheritance purposes.

  • Top royalty jurisdictionsDatum12.11.2022 13:27
    Thema von DonaldWalker im Forum Dies ist ein Forum in...

    Given that within the European Union there are no withholding taxes on IP royalties between member states, we can suggest a number of countries where royalties are particularly advantageous.

    The intellectual property royalties tax regime in Cyprus has changed as a result of the recommendations of the Organization for Economic Co-operation and Development (OECD) Action Report 5 and the Ecofin Council conclusions published on 8 December 2015. Legislation has been changed to limit the companies that can benefit from research and development (R&D) exemptions, but the tax rate in Cyprus is still one of the most favorable in the EU for foreign companies using Cyprus intellectual property want to license -resident companies (intermediaries), where this right is then sub-licensed to the end user. Overall, the effective tax on IP royalty income should be less than 2.5%.

    In 2015 Ireland introduced an effective corporation tax rate of 6.25% on intellectual property income based on an allowance for research and development costs borne by the company. By linking the two components in this way, Irish law encourages companies to conduct R&D directly within the EU - leading to the creation of intellectual property - while discouraging them from acquiring licenses without directly committing to R&D.

    Belgium has introduced a tax system that favors those with income from acquired copyrights. This tax regime can have many different applications and can be used to protect artworks as well as a useful tax break for IT developers. Income from IP rights royalties is taxed at 15%. This income is not taken into account when calculating social security contributions. In addition, these taxes are reduced by 50% for imports due to the application of standard import costs. The first €15,000 that a copyright owner earns in a year is therefore taxed at 7.5%, and the next €15,000 at 11.25%. This tax system applies to people with a total annual income of up to 56,450 euros.

    In general, corporate tax in Luxembourg is 29.22%, but for IP licensing income it can be as low as 5.8%. This is due to an 80% corporate income tax exemption. Interestingly, this exemption also applies to companies that have registered a patent for use in connection with their own business, which then calculate a notional net income as if they had received the licensing income.

    Italy is a larger market compared to the other countries discussed and can be a very attractive place for a company to invest in R&D since 2015 companies have been able to deduct intellectual property income from their taxable income base. The tax deduction was set at 30% in 2015, 40% in 2016 and 50% from 2017. Businesses will therefore enjoy a significant tax rebate by reducing their taxable income.

    Since 2010, IP income has been taxed at only 5% in the Netherlands. Except for patents, there is no income limit. Patent holders can actually have access to this tax regime if their share of the expected revenue is between 30% and 70%, taking into account the total combined revenue from patents and other sources. These rates also apply to foreign companies owning intangible assets or companies that have received research and development accreditation from the Dutch Ministry of Economic Affairs if they are owners of software IP or trade secrets. The only other caveat to this favorable tax regime is that it doesn't apply to marketing and branding-related assets.

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