Understanding Double Taxation and Tax Residency Certificate
Hey there, fellow entrepreneurs and business enthusiasts! Today, we’re diving into a topic that holds immense significance for businesses operating in the UAE – the Tax Residency Certificate (TRC). With the introduction of corporate tax it is important to keep track of your tax expenses and make sure that you are tax compliant as well as If you’re a person who is planning to start a business in Dubai or already has a business in UAE who put value on good financial management, then understanding the ins and outs of the TRC is essential. So, grab your virtual cup of coffee, and let’s learn more about this document that can save you from the woes of double taxation!
The Tax Residency Certificate
What are the benefits of having Tax Residency Certificate?
The application process of Tax Residency Certificate
Qualifications and Documents required
For Companies:
• Valid Company Trade License Copy
• Certified establishment contract (if applicable)
• Shareholders’ and Manager’s Passport Copies
• Shareholders’ and Manager’s Residence Visa Copies
• Shareholders’ and Manager’s Emirates ID Copies
• Certified copy of the recent financial statement or audit report
• Latest 6-month Company bank statement
• Certified copy of Company lease agreement or Tenancy Contract
• Relevant tax forms from the country where you’re submitting the certificate
For Individuals:
• Passport Copy
• UAE Residence Visa Copy
• Emirates ID Copy
• Certified copy of residential lease agreement or Tenancy Contract
• Latest Salary Certificate
• Latest 6-month bank statement
• Entry and exit report from the Federal Authority of Identity and Citizenship or a local competent Government entity (minimum 180 days)
• Relevant tax forms from the country where you’re submitting the certificate
