Key Benefits

Key Benefits Source image: by Jerry Paffendorf / CC by 2.0

Dubai is the seventh emirate of the United Arab Emirates (UAE). The population currently stands at 1.5 million however 82% of the population are expatriates. Arabic is the office language however English is the business language. Dubai is the undisputed business hub of the Middle East.

The Jebel Ali Free Trade Zone is a Dubai based, state owned Economic Zone and is one of the biggest, most service driven, customer centric Free Zones in the world. Regulations were passed in 2003 establishing the basis for Jebel Ali Free Zone Offshore Companies which operate under the Jebel Ali Free Zone Authority (JAFZA). Such companies enjoy all the advantages of other international offshore companies but have the added benefit of Dubai’s reputation for business transparency. It is worth noting however that the a Dubai Offshore Company is not allowed to carry out business within the UAE or the Free Trade Zones.

Key benefits of UAE:

  • A Dubai Offshore Company is not a tax haven company; it is not on any black list. The UAE is considered a Schedule 3 FATP jurisdiction and complies with relevant anti-money laundering regulations.
  • No Corporate or Personal Taxes payable. Only banks and companies active in the oil sector are subject to corporate taxes.
  • Offers a high degree of anonymity. Directors and Shareholders information is not kept on public record.
  • Dubai is not a signatory to any international exchange of information agreements. This status is not expected to change as Dubai has no taxation gain from the participation of such treaties.
  • The UAE has entered into some mutual assistance / double tax treaties with relevant jurisdictions such as Malayisa, Hong Kong and the UK. More will follow.

Bank Account Opening:

Bank Accounts can be opened in a number of international banks located in Dubai however a personal visit is required and the process can take a number of weeks to complete.

Take the next step, we are here to help.

Register a Dubai company.
Open a Dubai bank account.

  Resources:

Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector

Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector

One of the most important regulatory banking documents on information security is the Regulation on bank secrecy and confidential information, which exists in every bank. This document entered into legal force by the banking sector’s order.

Troika Lenders Visit Cyprus Following Withdrawal From Bailout Programme

Troika Lenders Visit Cyprus Following Withdrawal From Bailout Programme

Representatives from the troika of Cyprus’ international lenders, the International Monetary Fund, European Commission and the European Central Bank, recently visited Cyprus for conducting their 4th post-scheme investigation following the islands recent withdrawal from the economic adjustment programme as agreed with the terms of the bailout.

The EC's Plans to Reduce NPLs in Europe May be Beneficial for Cyprus

The EC's Plans to Reduce NPLs in Europe May be Beneficial for Cyprus

Last month, the European Commission proposed an ambitious and comprehensive package of measures to tackle non-performing loans (NPLs) in Europe, making the most out of the promising progress already made in reducing risks in the banking sector.

Anti-Money Laundering measures: The Policy of Combating the Legalisation for Laundering Illicit Income

Anti-Money Laundering measures: The Policy of Combating the Legalisation for Laundering Illicit Income

Money laundering is the act of transforming money or other money obtained as a result of any illegal activity, in money or investments that appear legal, so that their illegal source cannot be traced.

Yellowslip Conversion from MEU1 to MEU3 for UK Nationals Living in Cyprus

Yellowslip Conversion from MEU1 to MEU3 for UK Nationals Living in Cyprus

Following the result of the referendum of 23rd June, Britain will in due course be leaving the European Union. The British High Commissioner outlined the processes currently being followed within government to prepare for the Brexit negotiations in order to find an outcome for the UK nationals living abroad in Cyprus.

ICOs: Can Accountants & Companies Benefit from Their Distribution?

ICOs: Can Accountants & Companies Benefit from Their Distribution?

Initial Coin Offerings (ICOs) are proving to be a common and trendy new way for businesses to raise capital, however what role are Accountants playing in this dynamic market?

The Cyprus Passport Scheme Under Scrutiny Again, However Should it be?

The Cyprus Passport Scheme Under Scrutiny Again, However Should it be?

A number of recently released documents show that the Cyprus passport by investment or naturalisation scheme remains a profitable source of revenue for the island, making almost €5 billion since it started in 2008 and granting EU citizenship to 1,654 foreign investors and their families.

Cyprus vs Malta: Tax & Investment Considerations

Cyprus vs Malta: Tax & Investment Considerations

Malta and Cyprus undeniably have the most favourable citizenship by investment programmes in Europe. Many individuals are using such schemes as a means of significant wealth protection and gaining dual nationality; while smaller economies within the EU receive financial compensation for the privilege.