The UAE does not have any enforced federal income tax legalization for general business. An income tax decree has been enacted by each Emirate, but in practice, the enforcement of these decrees is restricted to foreign banks and to oil companies. This practice is not likely to change in the near future as the relevant mechanisms with which to implement the tax decrees have not yet been established. In addition, there is no personal income or sales taxes in the UAE.
Payment starts upon signing of the Preliminary (Reservation) Agreement or Musataha Agreement.
Yes, provided that a viable plan is submitted and land availability. Reserving land for future development phases is also permissible for a maximum duration of 4 years. Standard lease rates apply.
Payments are made quarterly.
Yes, a security deposit is required and can be in the form of a bank guarantee.
