UAE
Mainland or free zone · CIT 9%
✓100% foreign ownership on the mainland for most activities since 2021✓9% on profit above AED 375,000; qualifying free-zone income at 0%✓Regional banks work with non-residents where real presence exists
Opening a company in the Gulf is easy. Opening its bank account is not.
The region has rewritten its rules over the past five years: the UAE allowed 100% foreign ownership on the mainland, Qatar and Oman followed, and corporate tax arrived where it had barely existed before. Incorporation became easier; bank compliance did not. That is why the conversation starts not with choosing a free zone, but with where the money will come from, who the customers are and how the company will evidence real presence.
14
jurisdictions covered
6,000+
companies registered
70+
banking relationships
Updated · Reviewed by the Prifinance team
Where we register
Fourteen jurisdictions: the Gulf, the Levant and the South Caucasus
Jebel Ali
JAFZA · Dubai free zone
✓Port and customs zone in one perimeter - logistics and warehousing on site✓100% foreign ownership and unrestricted capital repatriation✓Qualifying income at 0%, but only where the activity meets the free-zone conditions
Qatar
Mainland or QFC · CIT 10%
✓Law No. 1 of 2019 allows up to 100% foreign ownership in most sectors✓QFC operates as a separate legal perimeter under English law with its own registrar✓10% on the foreign share of profit; VAT has not yet been introduced
Saudi Arabia
MISA licence · CIT 20% + zakat
✓The RHQ programme gives qualifying regional headquarters 30 years at zero tax✓20% on the foreign share plus 2.5% zakat on the local share✓The largest Gulf market, and also one of the most demanding on local presence
Bahrain
No general corporate tax
✓No general corporate income tax outside oil and gas✓A 15% minimum tax has applied to large international groups since 2025✓One of the lowest-cost entries into the Gulf and a bridge to Saudi Arabia’s Eastern Province
Oman
Mainland · CIT 15%
✓100% foreign ownership for most activities since 2020✓15% on profit, VAT at 5%✓Salalah and Sohar free zones support manufacturing and re-export
Kuwait
KDIPA or a local partner · CIT 15%
✓A KDIPA licence allows 100% foreign ownership and tax holidays of up to 10 years✓Without it, foreign ownership is capped at 49%, with a Kuwaiti partner holding the balance✓15% on the profits of foreign companies
Israel
Ltd · CIT 23%
✓Deep high-tech and venture-capital ecosystem✓Preferential regime for approved technology enterprises✓23% on profit, VAT at 18% since 2025
Jordan
LLC · CIT 20%
✓20% standard rate, 14% for industry✓Free-trade agreements with the US and the EU✓A relatively straightforward entry into the Levant
Lebanon
SAL / SARL · CIT 17%
✓17% on profit and a historic role as a regional trading intermediary✓The banking sector has been in crisis since 2019, so settlement is planned outside the country✓Better suited as an operating jurisdiction than as a settlement one
Türkiye
A.Ş. / Ltd. Şti. · CIT 25%
✓Customs union with the EU supports duty-free industrial exports✓Free zones offer exemptions on qualifying export profits✓25% on profit, 30% for financial institutions
Armenia
LLC · CIT 18%
✓Registration in days and comparatively affordable real presence✓Turnover regimes for micro and small businesses✓EAEU membership provides access to the union market without internal customs barriers
Azerbaijan
MMC · CIT 20%
✓Transit hub on the Middle Corridor between China and Europe✓20% on profit, VAT at 18%✓Alat Free Economic Zone operates under its own legal regime
Georgia
LLC · Estonian model
✓0% on retained profit, 15% only on distribution✓Registration in days with relatively light administration✓Virtual Zone regime for qualifying exported IT services
The part that ends badly
The company is open, the account is not
It is almost never the registrar that refuses the structure. It is the bank - sometimes in week four, without detailed reasons, after the company has already been paid for and the free-zone licence issued for a year.
✓A free zone grants a licence, but it does not answer the bank’s question about where the business actually operates✓Substance in the UAE and Bahrain is assessed against office space, staff and spend, not simply the address on the licence✓In Saudi Arabia and Kuwait the bank account follows the MISA or KDIPA licence rather than running in parallel with it✓Lebanon’s banking crisis since 2019 means the settlement perimeter needs to be planned outside the country
How it should go
The bank first, the licence second
We test the banking route before the zone is paid for. If the chosen bank will not accept the activity, ownership profile or country of residence, it is much cheaper to learn that at the opinion stage than after incorporation.
✓The bank is matched to the activity and customer geography, not to the name of the zone✓Presence is designed up front: office, staff and spend are planned at the level the business will actually need✓Ownership is disclosed down to the beneficial owner from the start - rebuilding the structure after a refusal costs more✓Where a local partner or investor licence is required, it is included in the plan and quote from day one
What registration covers
What we do, and what you get at the end
Incorporation itself is usually the easy part. The real work is choosing the right jurisdiction, satisfying the registrar and then getting the bank account open.
These include:
✓Choice of jurisdiction and legal form against the real business activity✓Name check, incorporation and the complete corporate-document set✓Registered office and registered agent for the first year✓Beneficial-ownership filings where the jurisdiction requires them✓Apostille and legalisation for documents used abroad
Additionally, where required:
✓Bank or EMI account opening, backed by 70+ banking relationships✓Nominee or resident director where required by law✓Substance - office, staff and local presence✓Accounting, annual returns and tax registration✓Licences, permits and sector approvals
Several jurisdictions now require annual filings and substance reports that did not exist five years ago. We track the calendar and keep those filings current.
| What | Typical time | What you receive |
|---|---|---|
| Name approval | Same day to 3 days | Reserved company name |
| Incorporation | 1 day to 8 weeks | Certificate, charter, register of members |
| Corporate documents | With incorporation | Resolutions, share certificates, POA |
| Apostille set | 3-10 business days | Legalised documents for the bank |
| Tax and social registration | 1-3 weeks | Tax number, VAT where applicable |
| Bank account | 2-8 weeks | IBAN and access to the account |
The bank is the slow stage almost everywhere, and often the one that determines whether the structure was worth building. That is why we start the banking process in parallel rather than after incorporation.
Comparison of jurisdictions
The Gulf, the Levant and the Caucasus: how they differ
The three sub-regions solve different problems. The Gulf offers access to capital and status, the Levant focuses more on markets, manufacturing and trade routes, while the Caucasus competes on speed and cost.
01
The Gulf: standing costs presence
The UAE, Qatar, Saudi Arabia, Bahrain, Oman and Kuwait. Companies can incorporate quickly, while banks take longer, and both regulators and financial institutions look at whether the structure has an office, staff and actual spend in the country. Rates range from 0% to 20%, but the economics are often determined more by the cost of presence than by the tax rate itself.
02
The Levant and Türkiye: markets, not rates
Israel, Jordan, Lebanon and Türkiye. Businesses come for access: Türkiye’s customs union with the EU, Jordan’s free-trade agreements and Israel’s venture ecosystem. Corporate rates are more conventional - between 17% and 25%.
03
The Caucasus: fast and affordable
Georgia, Armenia and Azerbaijan. Registration can take days, local presence costs less and tax can start at 0% on retained earnings. The compromise is the lower weight these jurisdictions may carry with some Western banks and counterparties.
| Jurisdiction | Corporate tax | Foreign ownership | Realistic timing |
|---|---|---|---|
| UAEMore details → | 9% · 0% in zone | 100% since 2021 | 1-4 weeks |
| QatarMore details → | 10% | Up to 100% since 2019 | 3-8 weeks |
| Saudi ArabiaMore details → | 20% + zakat | 100% on a MISA licence | 6-12 weeks |
| BahrainMore details → | 0% · 15% DMTT | 100% | 2-6 weeks |
| OmanMore details → | 15% | 100% since 2020 | 3-6 weeks |
| KuwaitMore details → | 15% | 100% on a KDIPA licence | 8-16 weeks |
| TürkiyeMore details → | 25% | 100% | 1-3 weeks |
| IsraelMore details → | 23% | 100% | 1-3 weeks |
| GeorgiaMore details → | 0% · 15% on distribution | 100% | 1-5 days |
| ArmeniaMore details → | 18% | 100% | 2-7 days |
Important: The rate is not the headline number. The cost of a Gulf structure is largely driven by presence: office, staff, audit and annual licence renewal can add up to more than the tax itself. We model the full annual cost, not just the nominal rate.
Nothing in this table is a recommendation on its own. The correct jurisdiction depends on where the customers are, what licence the activity requires and how profits are intended to move back to the owners.
Before you register
What registration will require
The document pack is broadly similar across the region. The main differences are the investor licences and the requirements of the chosen bank.
01
Notarised passports of the founders and directors - apostilled and translated in some countries.
02
Proof of residential address for the beneficial owners, no older than three months.
03
An activity description that matches the codes on the licence: a mismatch here is the most common reason a bank says no.
04
An investor licence where one is required: MISA in Saudi Arabia, KDIPA in Kuwait for full ownership.
05
An office or workspace in the country: a flexi-desk in a free zone for light models, a real office for the mainland and for the bank.
06
Share capital in the amount the chosen form and zone require; in some cases, evidence that it has been paid in.
07
Ownership disclosed down to natural persons and source of funds evidenced for the bank.
08
A founder’s or manager’s residence visa where one is needed to sign the banking documents.
Note: The exact pack for the chosen country and bank is fixed in the legal opinion before work begins, together with the timeline and the full cost of the first year.
On the ground
Sixteen offices, our own people
Prague
Czech Republic
Vlkova 532/8, Žižkov
Berlin
Germany
Rankestraße 26
Singapore
Singapore
3 Church Street, #29-68 Samsung Hub
Bangkok
Thailand
Unit P01, Penthouse, VASU1, 1 Sukhumvit 25 Alley
Foshan
China
A-Tower, Yuneng Digital Plaza, 46 Lishui Avenue South
Bishkek
Kyrgyzstan
32 Razzakov Street
How it works
Five stages from the first call to a working account
STEP 01
The opinion
We establish where you live, where you operate, where the company will bank and what it will actually do. From that come the jurisdiction, legal form and written reasoning. Free.
STEP 02
Documents and name
Certified passports, proof of address, activity description and a name the registrar will accept. Translations and legalisation are arranged where required.
STEP 03
Incorporation
Filed by us or our local partner. You receive the certificate, constitutional documents and corporate registers.
STEP 04
Legalisation and the bank
Apostille where the bank requires it, followed by the account application. The banking process starts alongside incorporation, not after it.
STEP 05
Keeping it alive
Registered agent, annual return, accounting and substance filings. The part many founders forget until the company risks losing good standing.
Why Prifinance
Why this is worth paying a lawyer for
Anyone can submit incorporation documents. The value lies in what is structured correctly on the way in and what can be moved efficiently on the way out.
01
The route out is designed before the company exists
Capital registration, dividend approvals and documents that may later be requested by a central bank are prepared while the funds are arriving - when arranging them is still straightforward.
02
6,000+ companies, so the awkward cases are familiar
A registrar rejecting the activity wording, legalisation getting stuck at an embassy or a shareholder being unable to travel are not unusual cases for the team.
03
We say no when the structure will not work
If an activity is reserved, an ownership rule diverts economic control or the required licence cannot be issued to the chosen entity, you hear that before paying.
04
The sector licence runs in parallel, not afterwards
Mining, energy, telecoms and financial services follow their own regulatory timetables. Starting the sector licence only after incorporation can cost a project months it did not need to lose.
05
The company keeps running afterwards
Resident directors and company secretaries where required, local accounting and audit, annual returns and tax filings are supported by the same team that handled the incorporation.
Your team
The people who will run your file
Dmitri Mihhailov
General Partner
Leads Prifinance's corporate practice and oversees client engagements, with senior expertise in international company structuring and bank-account setup.
Eugeniu Bevziuc
Corporate services advisor
Corporate services and compliance: documents, legalisation, annual filings and the bank's questions.
Alex Danila
Company formation specialist
Your day-to-day contact - coordinates incorporation, documents and the bank introduction, from the first call through to launch.
Follow Prifinance
Active across our channels.
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Watch: free zone or mainland - how the choice is made and what the bank says afterwards
Worth knowing
What the region takes from profit
The Gulf stopped being a zero-tax region but remains a comparatively low-tax one. The Caucasus competes on rates and operating cost, while the Levant and Türkiye compete more on access to markets.
UAE: 9%, and zero in the zone
9% on profit above AED 375,000. Qualifying free-zone income is taxed at 0%, but qualification depends on actual activity and compliance with the regime rather than simply holding an address in the zone.
Bahrain and Qatar: 0% and 10%
Bahrain has no general corporate income tax, while Qatar charges 10%. Since 2025, large international groups in both jurisdictions have been subject to the 15% minimum-tax regime.
Saudi Arabia: 20% plus zakat
20% on the foreign share and 2.5% zakat on the local one. A qualifying regional headquarters under the RHQ programme receives a 30-year exemption.
Georgia: pay on distribution
The Estonian model: 0% while profit remains in the business and 15% when it is distributed.
Türkiye and Israel: 25% and 23%
Conventional rates for full operating jurisdictions, but Türkiye adds access through its customs union with the EU and Israel through its venture and technology ecosystem.
VAT almost everywhere
5% in the UAE and Oman, 10% in Bahrain, 15% in Saudi Arabia, 18% in Israel and Georgia, and 20% in Türkiye. Qatar has not introduced VAT yet.
Important: About the 15% minimum tax. Minimum tax at 15% Since 2025, the UAE, Bahrain, Kuwait and Qatar apply a minimum tax to groups with global revenue of €750 million or more. For mid-sized businesses this does not change the standard model, but for large multinational groups it must be calculated before incorporation.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
Questions and answers
The Near East: what people ask most
Do I need a local partner?+
Not in the UAE for most mainland activities since 2021 - 100% foreign ownership is permitted. Similar options exist in Qatar and Oman. Kuwait requires a local partner unless a KDIPA licence is obtained, while Saudi Arabia does not require a partner but does require a MISA licence.
Free zone or mainland?+
A free zone is usually cheaper and faster, but its licence may restrict access to the domestic market and can be assessed differently by banks. Mainland structures cost more but provide broader access to local customers and government contracts. The choice should follow where the revenue actually comes from.
Is free-zone tax really 0%?+
Only for qualifying income and only where the relevant conditions are satisfied. Income that falls outside the qualifying regime is taxed at the standard 9% rate. The company has to evidence that qualification.
How long does the bank account take?+
Usually from two weeks to three months - often longer than incorporation itself. That is why we test the bank before the zone is paid for and prepare the application against the requirements of a specific institution.
What does the substance requirement mean?+
An office, employees and local spend proportionate to the declared activity. In the UAE and Bahrain, substance and preferential regimes can also involve annual reporting, with penalties and loss of benefits for non-compliance.
Why are Armenia, Georgia and Azerbaijan on this list?+
The Caucasus solves some of the same problems as the Gulf at a lower cost: fast incorporation, affordable presence and low tax rates. Georgia offers 0% on retained profit, Armenia provides access to the EAEU and Azerbaijan sits on the Middle Corridor.
Can it all be done remotely?+
In Armenia, Georgia and some UAE free zones, many procedures can be completed by power of attorney. Saudi Arabia, Kuwait and many banks may require at least one personal visit. This should be established before the project starts.
Does Lebanon work?+
Company registration still works, but the banking system has remained in crisis since 2019. A Lebanese company can make sense as an operating vehicle, while the settlement and banking perimeter is structured in another jurisdiction.
Free consultation
Tell us what you are going to do there
Tell us the activity, the country or region, where the customers are located, who is funding the business and where the profit ultimately needs to end up. You receive a written recommendation covering the jurisdiction, legal form, required licences, total cost and reasoning - free of charge.
Written assessment within 2-5 business days