Urs Stirnimann Managing Partner ILC International Legal Consultants

Urs Stirnimann Swiss Management Services JLT, Dubai 10 April 2013 United Arab Emirates A Global Business Hub Urs Stirnimann Swiss Management Services JLT, Dubai 10 April 2013

Overview General Info about the UAE Major Free Zones of the UAE UAE Offshore Companies Double Tax Treaties

3 Forms of Companies Companies with local Partner or Service Agent Free Zone Companies UAE Offshore Companies

Free Zones Since 1985 Free Zones. 100% foreign ownership allowed. Freedom to repatriate capital and profits without restrictions. No taxes. More than 30 Free Zones in UAE. Most of the service Free Zones like Internet City, Media City, Healthcare City, Knowledge Village are in Dubai. Masdar Free Zone in Abu Dhabi. Excellent conditions for specific businesses.

Offshore Company Since 2003, Offshore Companies either from Jebel Ali Free Zone or Ras Al Khaimah Investment Authority No physical presence is necessary nor allowed. Regulations similar to BVI and Jersey. ILC International Legal Consultants Registered Agent for such Offshore Companies.

List of Free Zones in Dubai Jebel Ali Free Zone Dubai Airport Free Zone Dubai Internet City Dubai Media City Dubai Studio City Dubai International Media Production Zone Dubai Knowledge Village Dubai Outsource Zone Dubai Logistics City Dubai Gold and Diamond Park Dubai Multi Commodities Centre / Jumeirah Lakes Towers Dubai Cars and Automotive Zone

List of Free Zones in Dubai Dubai International Financial Centre Dubai Industrial City Dubai Maritime City Dubai Carpet Free Zone Dubai Technology Free Zone Dubai Silicon Oasis Dubai Flower Centre Dubai Health Care City Dubai Biotechnology & Research City Dubai Textile Village International Humanitarian City

Free Zones in other Emirates Sharjah Airport International Free Zone Hamriyah Free Zone Ajman Free Zone Ahmed Bin Rashid FZ (UAQ) Fujairah Free Zone Ras Al Khaimah Free Trade Zone Ras Al Khaimah Investment Authority Masdar, Abu Dhabi Abu Dhabi two four 54

Jumeirah Lakes Towers (JLT) Dubai Multi Commodites Centre (DMCC) Swiss Tower Accepts nearly all activities 40 minutes by car from Dubai airport 60 minutes bay car from Abu Dhabi airport Next to expensive villas as well as reasonable apartments 2 metro stations near to Dubai Marina, beach

Licenses Individual Shareholders Subsidiary Branch

Double Tax Treaties Algeria Armenia Austria Belarus Belgium Bulgaria Bosnia Canada China Czech Republic Egypt Finland France Germany India Indonesia Italy Korea Lebanon Luxembourg Malaysa Malta Morocco Mozambique New Zealand Pakistan Philippines Poland Romania Seychelles Singapore Spain Sri Lanka Sudan Syria Switzerland Tajikistan Thailand Tunisia Turkey Turkmenistan Ukraine Usbekistan Yemen

Double Tax Treaty Switzerland - UAE Signed: 6 October 2011 Ratified: in 2012 In Force: 1 January 2013

Double Tax Treaty Switzerland - UAE Art. 10: Dividends Swiss withholding tax of 35%. Dividends of Swiss companies to UAE Sovereign Funds exempted from Swiss withholding tax. Swiss Dividends to UAE shareholders: Witholding tax reduced to 5% (if owning at least 10% of Swiss company) 15% (if less than 10%)

Double Tax Treaty Switzerland - UAE Art. 25: Information Exchange In accordance with OECD model art. 26 Fishing Expeditions excluded.

Double Tax Treaty Switzerland - UAE Normal Swiss Withholding Tax on Dividends: 35% Shareholder UAE Company >10% Ownership Withholding Tax 5% <10% ownership Withholding Tax 15% Swiss Company A Swiss Company B

Residency in the UAE Through Employment or Shareholder of a UAE Company Work and Residence Permit Renewable after 3 Years (in some locations 2 years) Only Condition: Not to be outside the UAE for more than 6 months

ILC Offices Dubai Doha Singapore Zurich Swiss ILC Management Services JLT Urs Stirnimann Managing Partner Swiss Tower, Office 3601 P.O. Box 309057 Dubai, UAE Tel: +971 4 374 0700 Fax: +971 4 374 0701 Email: us@ilc-group.net Doha ILC International Legal Consultants Michel Daillet Qatar Financial Center P.O. Box 23245 Doha, QATAR Tel: +974 655 0987 Fax: +974 438 3838 Email: md@ilc-group.net Singapore ILC International Legal Consultants Bernhard Weber Managing Partner 70 A Club Street 069443 Singapore SINGAPORE Tel: +65 6223 6096 Fax: +65 6223 9071 Email: info@ilc-group.net www.ilc-group.net Zurich Ritter Attorneys-at-Law Richard Ritter Founding Partner Bahnhofstrasse 26 8022 Zurich SWITZERLAND Tel: +41 44 222 1515 Fax: +41 44 222 1500 Email: mail@rcrlaw.com