Takeaways from the ITU Global Talks ‘The UAE as a Hub for Global Business: International Structuring, Challenges, Opportunities and Legal Nuances’

Today, on June 11th, an online session was held as part of the ITU Global Talks international webinars, organised by the IT Ukraine Association with the participation of the legal partner — Juscutum. The topic of the session was “The UAE as a Hub for Global Business: International Structuring, Challenges, Opportunities and Legal Nuances”.

 

 

The speaker, Peter Bilyk, Partner, Technology and Investments Practice, shared his experience and discussed the UAE’s business environment, key aspects of doing business, legal structures in the country, tax advantages, geopolitical and economic stability and opportunities for partnership.

 

Among the information shared:

 

• The United Arab Emirates (UAE) is gaining popularity for business structuring due to its stable economic and geopolitical situation.
• The UAE actively embraces innovation and has a high level of digitalisation, including plans to implement artificial intelligence in legislation.
• The absence of taxes for individuals attracts investors and companies to this jurisdiction.
• The UAE allows 100% foreign ownership of companies.
• The cost of company registration and licensing in the UAE can vary depending on the type of activity.
• Substance requirements dictate that key income-generating activities (CIGA) must be conducted in the UAE, with company management also taking place in the UAE, including management and accounting.
• The UAE plans to expand its infrastructure, creating opportunities for IT companies, particularly Ukrainian ones, that can offer high-quality services.

 

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