Popularity of offshore is explained rather simply: it is an option to lower expenses under legal grounds and to protect tangible assets from various financial, economic and political external threats. However, offshore had traditionally acquired rather doubtful vogue related to unfair capital withdrawal through fake companies. So called black lists of offshore jurisdictions with which both banks and counteragents had stopped to cooperate with time had appeared. Simultaneously, relevance of company registration in low-tax jurisdiction still does not decline, provided correct approach.
Firstly a notation shall be made. Emirates shall not be treated as offshore in traditional meaning. However, one of the main signs of offshore refers to various countries of company registration and opening of bank account. For a company in Emirates account is opened in the same country.
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Moreover, United Arab Emirates is a country with high developed economics. UAE is in the list of OECD international economic organization of developed countries which adopt democracy principles as well as free market economy, thus evidencing reliability, economic protection and stability.
It is worth noting that tax system in the United Arab Emirates does not presuppose traditional tax imposition method analogical to European or American one. Regardless of frequent calls of clients with questions concerning “how to open offshore in Emirates?”, “whether offshore company in UAE may be registered or not”, as well as enquiries in search engines of such expressions as Emirates offshore, Dubai offshore, etc, it is worth making some adjustments.
Strictly speaking, there is no tax on individual income within the country; and corporate tax bears industrial nature or is postponed for 50 years. It does not refer to companies of oil and chemical industry, hotels and local banking institutions. All the above provides an option to treat international companies of UAE as rather perspective product confirmed by wide experience of utilization of such companies by our Clients.
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