Dubai, UAE
102° F, 38° C
Latest News: Coming soon...
Home Freezone Company LLC Company Offshore Company Offshore Bank Account Properties Contact Us

DubaiConsult… simply outstanding banking

Detailed knowledge and strategic insight are essential in offshore banking. DubaiConsult’s expert financial team works with you to identify and action the ideal offshore banking arrangements for you and your organisation.

UAE offshore banking: a world of benefits

In simple terms, offshore banking can be defined as running one or more bank accounts outside the country in which you live. There may be many reasons why offshore accounts would prove beneficial, for example you may wish to save tax, or obtain a  multi-currency loan. In addition, UAE offshore accounts deliver particular advantages.

Why UAE?

Flexible transactions and easy management of worldwide financial commitments are driving a rapid rise in the importance and popularity of UAE offshore banking. New and exciting initiatives are implemented regularly. One such example is Dubai’s introduction of the Dubai International Financial Centre (DIFC) which allows free trade in the emirate. It is anticipated that this will fuel still greater growth.

Easy access to world banking facilities

UAE banks are experts in international bank transfers. Dubai in particular has recently overseen a highly profitable outflow of money. While some UAE-based banking clients now export a significant chunk of their income to their homeland, many others use these bank accounts to escape weighty taxation in their own country.

All Dubai’s banking activities are currently under UAE Central Bank regulation. Although this imposes limitations on foreign banks, there are, crucially, no restrictions on depositing or moving foreign currency denominations to and from the emirate: indeed, you are free to transfer money to and from any corner of the world in any currency you wish.

Knowledge pays!

Most of the people find it easier to transfer money to their offshore banks from their very own bank, but care is warranted here as exchange rates and commission fees can be punishing: make sure you are clear about the total cost of the service. At DubaiConsult we have our clients’ individual needs and wellbeing at heart and we make sure that you get the best deals for your particular circumstances.

Our UAE offshore banking expertise extends well beyond arranging the best bank accounts for you. We also offer the following specialisms:

 

Company accounts vs private accounts: a key issue
It's important to note that any private accounts in your own name must be declared in your tax return. Some private account holders 'forget' to declare their privately held foreign accounts but this clearly constitutes tax evasion which may bring serious legal consequences. However by definition, an offshore company has a zero tax liability. Therefore it is perfectly legal to file the company as the account holder. In this case, even though control over the account rests with you, you can honestly state you own no overseas accounts and no tax will be payable in relation to those accounts.