with you step by step
how it works
Your expansion plans should firstly be economically viable and secondly making sure that your tax strategy follows suite.
Laws of foreign jurisdictions are vastly different to your home country and these should be well considered.
Our office advises on your international expansion into the United Arab Emirates as well as Mauritius. From setting up your operations to assisting you with ongoing business maintenance.
We also consult on your tax strategy, especially from a South African taxation point of view, ensuring it is well defined and legally sound.
You can view more details of each region by clicking below:
During our consultation process we will address the following:
- Understanding your requirements
- Obtaining the scope of the engagement
- Gaining an understanding of the possible cost involved
- Discussing and agreement of the terms of the engagement
Your approval means that you are ready for the next step in your international journey. Our consultation and implementation process goes into next gear as we start with drafting the necessary supporting documents as well as implementing the necessary processes to get things going.
The documentation required is two-fold.
Firstly, we prepare and provide you with a supporting pack which includes reference to applicable legislation both locally and abroad as well as proof of commercial and economic viability to support the expansion and implementation of the offshore structure.
Secondly, we assist with the preparation and gathering all the required information to enable the formation of an offshore structure. The process is administratively intensive, and we require numerous documents from you as part of the application process. We guide you on this however you will have to provide us with the necessary and required information.
Application for either a company or a trust in the region you are expanding into is based on the requirements of each jurisdiction.
For example, documents required for the application in the UAE is dependent on the FreeZone you choose. Each region applies stringent KYC (know you client) requirements which is similar to FICA in the South African context. Full disclosure of each individual along with documentary proof as required by the jurisdiction is required to enable such registration.[popup_anything id=”754″]
The application process and timing are largely dependent on each region and whether electronic documentation is acceptable or not. Finalising the structure implementation may also require physically visiting the region allowing for the completion of all requirements. Full implementation of any offshore structure takes time and one should not expect to get this done in a rush.
Application for residency Visa and Emirates ID card is also dependent on successfully passing a medical to be undertaken. To effect this the applicant will have to visit the UAE and comply with the administration process.
The registration and issuing of a license for a trust or a company is a result of the successful application process. Obtaining of a UAE Visa and Emirates ID card is dependent on successfully passing a medical test.
Most if not all initial service requirements have been dealt with as part of the registration process. However, it may be required to obtain additional office space or extra Visas. Our registration process includes the assistance for opening an e-bank account however assistance with the opening of a bank account with a physical bank can be undertaken based on your requirements. In such case these services can be organized.
Ongoing services are required on an annual basis and these may include VAT filings, economic substance requirement filings, license and lease renewal, accounts processing, drafting of annual financial statements, audit, tax return filings amongst others. These services are to be discussed and agreed to as a separate engagement.
Our aim is not to consult, setup and leave you to figure out the rest. We are here to partner with you to ensure your international expansion journey is a success. Our ongoing guidance and support will ensure that you navigate these jurisdictions with ease.