Dubai Business Setup for Nigerian Founders 2026: The Treaty Is Not Your Problem. The Bank Account Is

Nigeria is on the UAE Ministry of Finance list of double taxation agreements. The agreement was signed on 18 January 2016, with ratification instruments recorded in 2017 [1].

That matters, and it also settles a question most Nigerian founders were not losing sleep over. The tax framework is not the hard part of moving a business to Dubai. It is knowable, it is published, and the numbers sit in tables further down this page.

The hard part is the bank account. UAE banks apply enhanced due diligence across a range of shareholder profiles. Timelines run from about a week to several months, applications are sometimes declined outright, and a decline is not a verdict on you personally. Most guides written for Nigerian founders leave this out, which is worse than useless, because it lets people sign leases, order stock and promise suppliers payment dates against an account that has not opened and might not.

We would rather tell you now. Since 2013, BusinessDubai.ae has registered UAE companies for founders from Nigeria and across Africa, from AED 5,750 Sharjah licences to Dubai mainland structures with staff visas [9]. This guide covers what each route costs, what the treaty does and does not do, and what actually moves a banking application from declined to approved.

Does the UAE have a tax treaty with Nigeria?

Short answer: yes. It appears on the Ministry of Finance list, signed 18 January 2016 with ratification instruments recorded in 2017.

Signature, ratification and entry into force are three separate events, and plenty of announced agreements never clear all three. Nigeria has an entry on the published list with instruments recorded, which is more than founders from countries such as Australia or the Philippines have, since neither appears on the list at all [1]. Before you rely on a specific article for a specific transaction, have a Nigerian adviser confirm current application against the Ministry of Finance listing.

Pro Tip: Sequence the advice. Speak to a Nigerian adviser about your residence position, and about any Nigerian foreign exchange or outward investment requirements, before you commit capital. Then build the UAE structure to fit the answer. Doing it the other way round narrows your options, because some choices are much harder to unwind once the company exists and income has run through it. Our double taxation agreements overview explains how the UAE treaty network operates generally.

Not sure whether your structure and your customer base fit together? Check your eligibility→

Why do Nigerian founders choose Dubai?

Short answer: full foreign ownership, a low but non-zero tax regime, residence that is not tied to an employer, and a hub position that shortens every supply chain into West Africa.

100% foreign ownership. Free zones have always permitted it, and mainland companies now permit it for most activities. Some regulated activities still involve local participation, so confirm yours with our local sponsor requirements guide.

Trade and logistics position. Dubai is a re-export hub with deep air and sea freight capacity, which is why so many Nigerian trading businesses use a UAE entity as the buying and consolidation point rather than importing direct. Our import and export guide covers how duty lands on goods entering the UAE, and our Dubai Customs registration guide covers the code you need before your first shipment.

Currency and settlement. Holding and settling in a freely convertible currency changes how you price and how you pay suppliers. It does not remove your obligations on the Nigerian side, which remain governed by Nigerian regulation.

Residence that does not depend on an employer. Your own licence supports your own residence, and the Green Visa routes remove the sponsor entirely for five years.

Tax that is favourable rather than zero. The UAE has had Corporate Tax since 2023, and anyone still calling Dubai a zero-tax jurisdiction is working from a script that will cost you a filing deadline.

The reason that does not hold up is secrecy. The UAE has ultimate beneficial owner registers and information-exchange commitments, and founders expecting fewer questions than at home are surprised at the bank rather than at the licensing authority. Our UBO requirements guide covers what you must disclose.

Free zone or mainland: which one fits your customers?

Short answer: the decision turns on where your customers are, not on your nationality and not on your budget.

Choose free zone if you export, re-export, or run a technology, consulting or e-commerce business selling outside the UAE. Choose mainland if you invoice UAE customers directly, want government work, or run premises the public enters.

Common Mistake: Buying a free zone licence on price when the actual customers are in Dubai. It is expensive twice, once for the licence that cannot serve the market and again for the restructure six months later. It also damages you at the bank, because a licence that does not match the business you describe is the single most common reason an application stalls. Our free zone company setup and mainland company setup pages price both routes, and our free zone versus mainland comparison sets out where the line falls.

If you want mainland access while keeping a free zone entity, Dubai Executive Council Resolution 11/2025 created a route, covered in our free zone access to the mainland guide. If you are holding assets rather than trading, an offshore company formation suits holding and intellectual property structures. It gives no residence and no right to trade inside the UAE, so it sits alongside an onshore licence rather than replacing one.

What does a Dubai setup actually cost in year one?

Short answer: a Dubai free zone licence starts from about AED 12,800 with one visa included, while a Dubai mainland licence starts from about AED 18,200 before any visa.

Indicative first-year figures from our own published pricing [9].

Quick Math: The gap between a Sharjah licence from about AED 5,750 and a Dubai free zone licence with one visa at about AED 12,800 is roughly AED 7,050 in year one [9]. That is often the whole argument for a founder funding the launch personally. Price the second year too. A Dubai free zone renewal is about AED 9,920, and a licence in the wrong emirate costs you more in lost revenue every year than the AED 7,050 you saved once. There is a banking dimension as well: an emirate and a package that plainly do not match the business you describe make the account harder, not cheaper.

If cost is binding, read the emirate pages before you commit. Our business setup in Sharjah, business setup in Ajman and business setup in Abu Dhabi pages set out what each emirate gives you and what it withholds, and our cheapest free zones ranked guide shows where a headline price excludes something you must buy anyway.

No licence price includes bank onboarding time, document attestation from Nigeria, accounting or Corporate Tax registration. Our cost breakdown covers the full first-year picture, and our attestation guide covers the legalisation step founders start too late.

Visa quota is tied to premises, and a flexi desk carries a lower allocation than a private office, so do not build a hiring plan on a number the authority has not confirmed for your package. Our visa quotas guide covers the allocation.

What tax will you actually pay?

Short answer: not zero. Corporate Tax is 0% up to AED 375,000 of taxable income and 9% above, and most small companies pay nothing only because they elect a relief on a return they still have to file.

Small Business Relief is where most Nigerian-owned companies land early on. It treats revenue at or below AED 3,000,000 as producing no taxable income, and Ministerial Decision No. 131 of 2026, issued 29 July 2026, amended Ministerial Decision No. 73 of 2023 to extend it to tax periods ending on or before 31 December 2029, where the previous cut-off was 2026 [4].

Four conditions catch people. It must be elected on the return. It is closed to a Qualifying Free Zone Person and to members of multinational groups above AED 3.15 billion of consolidated revenue. Other exemptions and deductions are switched off for an electing period, though a loss made in an electing period is forfeited outright while earlier unutilised losses survive into later non-electing periods. And the threshold is tested against the current period and all previous ones, so breaching it once closes later periods too [4].

Real Talk: Owing nothing and having nothing to do are not the same thing. Registration and filing obligations exist independently of liability, revenue is determined under IFRS or UAE GAAP, and the relief producing your nil result is claimed on the return itself. The most common failure we see is a founder who concluded there was no tax to pay and did nothing for two tax periods. The tax was nil. The filing position was not. Clean, current accounts also happen to be the thing a bank asks for at your first annual review.

The 0% free zone rate is conditional. It applies only to qualifying income of a Qualifying Free Zone Person, which requires substance and activity conditions and audited financial statements. Selling to UAE consumers or into the mainland is generally an excluded activity, and many free zone companies never reach that status. Splitting a business artificially so each part stays under AED 3,000,000 engages the general anti-abuse rule in Article 50 of the Corporate Tax Law [4], which is a named risk rather than a structuring idea. Our Qualifying Free Zone Person guide, Small Business Relief guide and Corporate Tax filing guide cover the conditions, the election and the return.

What does the treaty do, and what does it not do?

Short answer: it allocates taxing rights between the two states. It does not decide whether you are tax resident in Nigeria, and it does not close your Nigerian file on its own.

It does not choose your residence. Your position under Nigerian law depends on Nigerian rules and on where you actually spend your time. A UAE company and a residence visa are evidence, not a determination.

It does not operate automatically. Treaty relief generally has to be claimed, and a claim rests on evidence that you are a UAE tax resident. That evidence is a UAE tax residency certificate, which has its own test and is separate from your visa. Many founders discover this at their first filing season, when the year is already closed.

It does not answer Nigerian domestic law. How a distribution from a UAE company is treated in your hands in Nigeria, and what Nigerian foreign exchange regulation requires when you move capital, are questions for a Nigerian adviser. We are a UAE formation firm, and that is a boundary rather than a hedge.

Which residence visa fits a Nigerian founder?

Short answer: investor residence through your own licence is the default, and the Green Visa is worth checking because it removes the sponsor entirely for five years.

Three details are routinely misreported. ICP publishes no minimum investment amount for the investor and partner route [5], so ask any adviser quoting a figure where it is published. The freelance route says each of the two previous years [5], so one strong year does not qualify and an average is not the test. And the Green Visa is self-sponsored and may sponsor your family [5], which is the structural difference from an employment permit. Green, Golden and Blue holders and their family members also carry a 180-day grace period after expiry or cancellation [6], a genuine safety margin if a licence renewal slips.

Our Green Visa guide covers all three routes, our investor visa requirements guide covers the company route, and ten ways to get UAE residency maps the wider set.

Want to know which residence route your licence will actually support? Talk to a setup expert→

Why is banking the step most likely to stop you?

Short answer: because approval is decided by a compliance function testing whether your story holds together, and a licence bought on price rarely tells a story that holds.

This is the section other guides skip, and skipping it does founders real harm.

UAE banks apply enhanced due diligence across a range of shareholder profiles. The practical consequences are three. Account opening timelines vary widely, from about a week to several months. Applications are sometimes declined outright. And applying to more than one bank is normal practice rather than an admission of failure, in the same way that a business applies to more than one lender.

What determines the outcome is not your passport considered alone. It is whether a compliance officer can read your file and see a business that makes sense.

Real Talk: Some applications are declined, and a decline is not the end of the process. It is information. Banks apply different appetites to different activities, different shareholder profiles and different transaction patterns, so the same file can fail at one institution and pass at another. What you must not do is treat the first application as the plan. Apply to more than one bank, keep the file consistent across all of them, and do not sign a lease, order stock or promise a supplier a payment date on the assumption that an account opens in two weeks.

Here is what genuinely moves an application, roughly in the order it matters.

A licence activity that matches the real business. Described identically on the licence, in the plan, on the website and on the application form. A general trading licence attached to a software consultancy reads as unexplained, and unexplained is the one thing a compliance function cannot sign off.

Documented source of funds. Traceable and consistent across every statement you submit. Inconsistency between two of your own documents does more damage than a modest balance.

A plan a compliance officer can follow. Who buys from you, what they pay for, how the money arrives, and where it goes next. If that takes three rounds of follow-up questions to establish, the file is already in trouble.

Realistic projections. A projection that does not match the licence or the funding reads as a red flag rather than as ambition. A first-year number that is plausible and evidenced beats an impressive one that is not.

Named, verifiable counterparties. Actual customers and suppliers, with contracts, purchase orders or correspondence where you have them. Generic market descriptions are not evidence.

Real premises where the model implies them. A business that obviously needs an office, a warehouse or staff, attached to the cheapest flexi-desk on the market, is a mismatch a reviewer will notice.

Common Mistake: Choosing a broad general trading activity because it sounds flexible, then describing something entirely different in the business plan. Flexibility on a licence is not free. It costs you explicability, and explicability is what banking approval turns on. Pick the narrow activity that describes the real business. Our general trading guide explains when the broad licence is genuinely the right answer.

Our guides to opening a corporate bank account and handling a rejection cover the document set and the remediation route, and our AML and CFT guide explains what the bank is testing for.

What will the bank account cost once it is open?

Short answer: between AED 79 and AED 250 a month, and the transfer pricing usually matters more than the monthly fee.

Figures are as at August 2026 and you should confirm current pricing with the bank before you choose [10].

Quick Math: Take a trading business paying forty suppliers a month. At AED 25 per local transfer that is AED 1,000 a month, or AED 12,000 a year, on top of the monthly fee [10]. The entire spread between the cheapest and dearest monthly fee above is AED 171 a month, about AED 2,052 a year. For a payment-heavy business the transfer line is worth roughly six times the monthly fee difference, so the account that looks cheapest on the headline can be the most expensive one you could have picked.

Four other lines matter [10]. FAB charges AED 100 a month below the AED 10,000 balance, and the same fall-below fee at Mashreq Pro and Pro Plus is waived after six months. Ruya charges AED 105 to close within six months. Mashreq gives free WPS payroll while Ruya charges AED 31.50 per file per month, which matters the moment you hire. International and foreign currency transfers at Mashreq are AED 40 per transaction, and card foreign exchange markups reach 3% plus scheme charges at Ruya and 2.5% on non-AED transactions at Mashreq. Our bank account comparison has the full table.

Can you sponsor your family?

Short answer: yes, subject to standard income and accommodation conditions, and the overstay exposure is per person, which is the number households get wrong.

Green, Golden and Blue holders may sponsor spouse and children in accordance with the approved requirements, and the 180-day grace period extends to those dependants [5][6]. That household-level protection beats an employment-sponsored permit, where the whole family's status depends on one employer relationship. Our family visa requirements guide covers the conditions, including the rules that catch founders sponsoring adult children and parents.

Overstay fines are AED 50 per person per day, flat rather than escalating, plus an AED 100 smart services fee [7]. A family of four in violation for sixty days is AED 12,000, not AED 3,000. Paying resolves nothing on its own, because ICP requires that status is adjusted or the person leaves the UAE [7]. There is also an AED 2,000 penalty for misuse of smart services, and for visit or tourist visas the fine is calculated from ten days after expiry [7]. Our overstay fines guide covers the grace periods, and our visa cancellation guide covers the order things must be unwound in.

What do you have to do every year?

Short answer: eight recurring obligations, chained so that a late tenancy renewal becomes a blocked visa two months later.

The dependency chain is what catches people. Ejari or a valid tenancy gates the licence, the licence gates the establishment card, and the card gates every visa. Cancellation runs in reverse: dependants, individual, employees, establishment card, licence. Put the tenancy renewal in your calendar ninety days ahead rather than thirty, because it sits at the top of the chain and is the only date where being early buys slack downstream.

Our post-setup guide sets out the sequence, our Ejari guide covers the tenancy step, our establishment card guide covers the middle link, and our licence renewal guide covers the annual reset.

If you employ staff, Federal Decree-Law No. 33 of 2021 governs the relationship: fixed-term contracts to a maximum of three years, probation capped at six months, notice of not less than 30 and not more than 90 days under Article 43, and end of service under Article 51 at 21 days of basic wage per year for the first five years and 30 days per year after [11]. Our labour law guide and WPS payroll guide cover the detail.

One thing you can stop doing. Economic Substance notifications and reports were cancelled for financial years ending after 31 December 2022 by Cabinet Decision No. 98 of 2024, with fines cancelled and paid fines refunded [8]. The regime still applies to 2019 to 2022, and ADGM and DIFC run their own confirmations. Our economic substance guide covers it.

Want the licence, the visas and the annual filings handled rather than remembered? Get a free consultation→

Real Client Stories

Real examples from businesses we have helped set up. Names have been changed for privacy.

Chidi, the trader whose licence did not match his story

Chidi took a general trading licence because it sounded flexible, then submitted a business plan describing a specialised industrial components import operation with three named Chinese suppliers. The activity said one thing and the plan said another. His first bank application was declined without a detailed reason, which is normal, and he assumed the decline was about his passport.

It was about the mismatch. We narrowed the licence activity to the components category he actually traded, rebuilt the plan around the three suppliers with their purchase orders attached, and evidenced source of funds from his existing Lagos operation. The second application, at a different bank, was approved.

His comment: "I thought the broad licence was giving me options. It was giving the bank a reason to say no."

Amaka, the consultant who planned around the pessimistic case

Amaka set up a Dubai free zone consultancy with one visa at about AED 12,800 [9] and, unusually, assumed from the start that banking would take months rather than weeks. She did not sign an office lease, did not hire, and kept invoicing through her existing arrangements until the UAE account was live.

It took eleven weeks and two applications. Nothing broke, because nothing had been promised against a date she did not control. That is the entire difference between an inconvenience and a crisis.

Her comment: "Everyone told me it would be quick. I planned for slow, and slow turned out to be fine."

Tunde, the founder who budgeted one overstay fine and paid four

Tunde let a residence permit lapse during a licence renewal delay and did not register that his wife and two children were sponsored under it. All four accrued AED 50 per person per day [7]. The fine was recoverable. The disruption to a school enrolment and an in-progress bank review was harder to undo, and paying did not close the matter, because ICP requires that status is adjusted or the person leaves [7]. The root cause was the dependency chain: a tenancy renewal slipped by three weeks, which delayed the licence, then the establishment card, which stalled four visa renewals at once.

His comment: "I thought I had one problem worth a few hundred dirhams. I had four problems, and the school did not care whose fault it was."

Plan for the bank, not just for the licence

For a Nigerian founder the honest summary is short.

The treaty exists. Nigeria is on the Ministry of Finance list, signed 18 January 2016 with instruments recorded in 2017 [1], which puts you ahead of nationalities with no treaty at all. It allocates taxing rights and leaves your Nigerian residence position to Nigerian law and a Nigerian adviser.

The UAE numbers are knowable. Corporate Tax is 0% up to AED 375,000 and 9% above [3], with Small Business Relief producing nil taxable income at or below AED 3,000,000 of revenue on election, to periods ending on or before 31 December 2029 [4]. VAT is mandatory above AED 375,000 and voluntary above AED 187,500 [2]. A Dubai free zone licence with one visa starts from about AED 12,800, Dubai mainland from about AED 18,200 before a visa, and Sharjah from about AED 5,750 [9].

The bank account is the variable. Applications are sometimes declined, applying to more than one bank is normal, and what moves the outcome is a licence that matches the business, documented source of funds, a plan a compliance officer can follow, evidenced counterparties and premises that fit the model.

Since 2013, BusinessDubai.ae has handled UAE formation for founders from Nigeria and across Africa: the licence, the residence route, the bank introduction and the compliance that follows. We will tell you honestly what your banking prospects look like before you pay for a licence, and our post-setup services team runs the tax registration, the annual return and the renewal chain.

Get a free consultation→

Frequently Asked Questions

Is there a double taxation treaty between the UAE and Nigeria?

Yes. Nigeria appears on the UAE Ministry of Finance list of double taxation agreements, signed on 18 January 2016 with ratification instruments recorded in 2017 [1]. Have a Nigerian adviser confirm current application before relying on a specific article.

Does a UAE residence visa end my Nigerian tax residence?

Not by itself. Your position under Nigerian law depends on Nigerian rules and on where you actually spend your time. The treaty allocates income, it does not decide residence. Take advice in Nigeria before you incorporate.

Can a Nigerian national own 100% of a Dubai company?

Yes. Free zone companies allow full foreign ownership, and so do mainland companies for most activities. Some regulated sectors still involve local participation, so confirm your activity with the licensing authority.

How hard is it for a Nigerian founder to open a UAE business account?

Harder than the licence, and it is the step most likely to delay or block a launch. Banks apply enhanced due diligence, timelines run from about a week to several months, and applications are sometimes declined outright. Applying to more than one bank is normal.

Will my bank application be declined because I am Nigerian?

Nationality is not the whole test and it is not decided in isolation. Compliance functions assess the coherence of the business, the licence activity, documented source of funds, the transaction profile and the counterparties. Files that are consistent and evidenced do get approved, and files that contradict themselves do not.

What should I do if a UAE bank declines my application?

Treat it as information rather than a verdict. Fix what a reviewer could not verify: narrow the licence activity to the real business, tighten source of funds evidence, attach contracts or purchase orders, and make the plan match the licence. Then apply elsewhere. Our handling a rejection guide covers the remediation route.

What documents most improve a UAE bank application?

Documented and traceable source of funds, a licence activity matching the real business, a plan a compliance officer can follow without follow-up rounds, realistic projections, named and verifiable customers and suppliers with contracts where available, and premises that fit the model you describe.

How long does it take to open a UAE business bank account?

From about a week to several months. Plan against the slower end, and do not sign leases, order stock or promise suppliers payment dates that depend on the account opening quickly.

Should I apply to more than one bank?

Yes, and it is normal. Banks apply different appetites to different activities and shareholder profiles, so the same file can fail at one institution and pass at another. Keep the file consistent across every application.

How much does a Dubai company cost for a Nigerian founder?

A Dubai free zone licence starts from about AED 12,800 with one visa, and a Dubai mainland licence from about AED 18,200 before any visa, or about AED 26,355 with one visa. Ajman free zone starts from about AED 12,800 and Sharjah licences from about AED 5,750 [9].

Will a Dubai company mean I pay no tax at all?

No. Corporate Tax is 0% up to AED 375,000 and 9% above [3]. Small Business Relief can produce nil taxable income at or below AED 3,000,000 of revenue for periods ending on or before 31 December 2029, but it must be elected and is closed to Qualifying Free Zone Persons [4]. There is no UAE personal income tax.

Do I have to register for Corporate Tax even if I owe nothing?

Yes. Registration and filing obligations exist independently of liability, and Small Business Relief is elected on the return rather than instead of it [4]. The return and payment are due within nine months of the tax period end [3].

When do I need to register for VAT?

Once taxable supplies and imports exceed AED 375,000 you must register. Voluntary registration is available above AED 187,500 of taxable supplies, imports or expenses. The rate is 5% [2].

Can my free zone company get the 0% Corporate Tax rate automatically?

No. It applies to qualifying income of a Qualifying Free Zone Person, which requires substance and activity conditions and audited financial statements. Selling to UAE consumers or into the mainland is generally an excluded activity.

Which is better for me, free zone or mainland?

It depends on your customers. Free zone if you export or sell outside the UAE. Mainland if you invoice UAE customers directly, want government work, or run premises the public enters.

Should I take a general trading licence to keep my options open?

Usually not. A broad activity costs you explicability at the bank, and a general trading licence attached to a business that obviously does something narrower is a common reason applications stall. Pick the activity that describes the real business.

What is the minimum investment for a Green Visa as an investor?

ICP publishes no minimum investment amount. The stated conditions are proof of investment or contribution to a UAE business venture plus the necessary licences and approvals [5]. Figures quoted elsewhere are not in the official source.

What salary do I need for the Green Visa skilled worker route?

A minimum monthly salary of AED 15,000, alongside a bachelor's degree minimum, MOHRE occupational classification levels 1 to 3, and a valid UAE employment contract [5].

What income do I need for the Green Visa freelance route?

Annual income of not less than AED 360,000 in each of the two previous years, plus a Ministry-issued freelance or self-employment permit and a bachelor's degree, specialised diploma or equivalent [5]. Both years must clear the figure independently.

What does a UAE business bank account cost to run?

Monthly fees range from about AED 79 to AED 250 across the accounts we compared as at August 2026, with only FAB Basic imposing a minimum average balance of AED 10,000 [10]. For payment-heavy businesses, per-transfer pricing usually matters more.

Can I sponsor my family from Nigeria?

Yes, subject to standard income and accommodation conditions. Green, Golden and Blue holders may sponsor spouse and children, and the 180-day grace period extends to those dependants [5][6].

What happens if my visa expires while I am in the UAE?

Overstay accrues at AED 50 per person per day flat, plus an AED 100 smart services fee, and paying does not resolve it because status must be adjusted or the person must leave [7]. Green, Golden and Blue holders have a 180-day grace period first [6].

What is the dependency chain everyone warns about?

A valid tenancy or Ejari gates the licence renewal, the licence gates the establishment card, and the card gates every visa. Cancellation runs in reverse. A slipped tenancy date can block a family visa two months later.

What is the biggest mistake Nigerian founders make?

Treating the licence as the finish line and the bank account as a formality. The licence is the easy, priced, predictable part. The account is the variable, and the way to control it is a licence, a plan and a document set that all describe the same business.

Related reading: Overcoming Bank Account Rejection in the UAE, Free Zone vs Mainland vs Offshore, UAE Green Visa Guide

References

[1] UAE Ministry of Finance. Double Taxation Agreements, listing the UAE treaty network including the agreement with Nigeria signed 18 January 2016 with ratification instruments recorded in 2017, and showing that Australia and the Philippines do not appear on the list. MoF double taxation agreements

[2] Federal Tax Authority. Registration for VAT: mandatory threshold AED 375,000 of taxable supplies and imports, voluntary threshold AED 187,500 of taxable supplies, imports or expenses, rate 5%. FTA VAT registration

[3] The Official Portal of the UAE Government and Federal Tax Authority. Corporate tax at 0% up to AED 375,000 of taxable income and 9% above, with return and payment due within nine months of the tax period end. u.ae corporate tax

[4] UAE Ministry of Finance and Federal Tax Authority. Ministerial Decision No. 131 of 2026, issued 29 July 2026, amending Ministerial Decision No. 73 of 2023 on Small Business Relief: extended to tax periods ending on or before 31 December 2029, AED 3,000,000 threshold applying to current and all previous periods, election required on the return, Qualifying Free Zone Persons excluded, and Article 50 applying to artificial separation. MoF financial legislation

[5] Federal Authority for Identity, Citizenship, Customs and Port Security (ICP). UAE Green Residency: five years, self-sponsored, AED 15,000 minimum monthly salary and MOHRE levels 1 to 3 for skilled workers, AED 360,000 annual income in each of the two previous years for freelancers, and no minimum investment amount published for investors and partners. ICP Green Residency

[6] ICP. Cancellation of residency permits, including the 180-day grace period for Golden, Green and Blue residence holders and their family members. ICP residence permit cancellation

[7] ICP. Payment of visa or residence violation fine: AED 50 per person per day flat, AED 100 smart services fee, AED 2,000 penalty for misuse of smart services, and the requirement that status be adjusted or the individual leave the UAE after payment. ICP visa and residence violation fines

[8] UAE Ministry of Finance. Cabinet Decision No. 98 of 2024 amending Cabinet Decision No. 57 of 2020, cancelling the Economic Substance Notification and Report requirement for financial years ending after 31 December 2022, with fines cancelled and refunded. MoF announcement on Economic Substance

[9] BusinessDubai.ae. Published formation pricing and internal data from UAE registrations since 2013: Dubai free zone approximately AED 12,800 with one visa, renewal AED 9,920; Dubai mainland standard AED 18,200, renewal AED 15,000, AED 26,355 with one visa; Dubai Mainland package AED 20,800; IFZA AED 20,100; Abu Dhabi mainland AED 22,600; Sharjah mainland AED 18,400; SHAMS AED 15,200; Ajman free zone AED 12,800; Sharjah from AED 5,750; mainland residency visas adding AED 4,000 to AED 5,200, plus bank onboarding timelines and decline reasons by shareholder profile and licence activity. businessdubai.ae

[10] BusinessDubai.ae. UAE business banking comparison as at August 2026: monthly fees AED 79 to AED 250, minimum balance and fall-below conditions, local and international transfer pricing, WPS charges, closure fees and card foreign exchange markups. UAE business bank account comparison

[11] Ministry of Human Resources and Emiratisation. Federal Decree-Law No. 33 of 2021 on the Regulation of Employment Relationships, in force 2 February 2022: fixed-term contracts to three years, probation capped at six months under Article 9, notice of 30 to 90 days under Article 43, end of service under Article 51. Federal Decree-Law No. 33 of 2021 (PDF)

This guide covers the UAE side. It is not Nigerian tax advice; take advice in Nigeria on your residence position, on how distributions from a UAE company are treated in your hands, and on any foreign exchange or outward investment requirements before you incorporate.