Offshore Company Formation Dubai 5 Key Questions
1. How do you use an offshore company formation Dubai to keep your wealth confidential?
If you have wealth or income which must be kept secret even from the near ones then offshore company formation Dubai in UAE or in Ras Al Khaimah in UAE is a safe route to take. UAE is not a signatory to any treaty of disclosures or information exchange agreements. You can register an offshore company and open its bank account in Dubai.
You can then have your assets owned by your offshore company for as long as you wish. All public records will show that your wealth is owned not by you but by a company which only you know that you own.
For added secrecy you can choose to have someone else as your nominee shareholder and get him or her to give you a power of attorney. So you control the bank account and the company without your name on it. The process is simple and confidential. Your presence is required only for a day.
You have 3 offshore company formation jurisdictions to choose from – Offshore Company Formation Dubai 1 + Offshore Company Formation Ras Al Khaimah 2. Ras Al Khaimah is 90 minutes away from Dubai. The company registrars do not reveal any information to anyone except the authorized signatory. Banks too.
2. Why should you feel that forming and operating an offshore company in Dubai or in Ras Al Khaimah (RAK) is more discreet than other places in the world?
Your visits to Dubai attract no attention. This is because unlike most offshore tax havens, offshore company registration is not the main business of Dubai or Ras Al Khaimah. Dubai is the thriving business hub of the Middle Eastern region. Dubai is a home to many active, legitimate international businesses.
You can form an offshore company in Dubai or in RAK near Dubai with a bank account and visit Dubai to look after your company without attracting any attention in Dubai and your home country. About 57 million passengers traveled to Dubai in 2012. This very crowded and bustling nature of Dubai makes Offshore Company Formation Dubai a natural choice for those who seek real confidentiality. This is true of offshore company formation in Ras Al Khaimah too.
3. How do Dubai and Ras Al Khaimah make it attractive for you want to keep your wealth confidential?
- There is no public record of an offshore company’s directors or shareholders in Dubai or Ras Al Khaimah.
- You pay no income tax, capital gains tax, inheritance tax or any tax on funds transfers you might make. Dubai has no taxation department. Therefore any personal information and details of offshore company’s activities will remain private in Dubai and also in Ras Al Khaimah.
- Dubai, Ras Al Khaimah and other UAE emirates are not a party to any international exchange of information agreements. This is not predicted to change as Dubai and Ras Al Khaimah do not gain any taxes by participating in such treaties. This provides you with high levels of security, privacy and asset protection if you choose offshore company formation Dubai or Ras Al Khaimah.
- Dubai’s superior banking privacy regulations are enforced strictly. So your bank account details are not in danger of being revealed. Even spouses cannot have access unless they hold a legalized authority document.
4. Offshore company Formation Dubai – What options do you have in and around Dubai?
You can register your offshore companies in UAE in 3 places. All are equally confidential. All can open a bank account in Dubai based banks.
- Offshore Company Formation Dubai jurisdiction is located in Jebel Ali Free Zone – Jebel Ali Offshore
- Ras Al Khaimah located about 100 Km away from Dubai has 2 offshore jurisdictions – RAKIA and RAK FTZ
5. How do they differ from each other? Are they equally confidential?
When you compare offshore company formation Dubai and offshore company formation Ras Al Khaimah your wealth is equally secure and confidential in either of them. However there are some important differences mainly in costs of registration, documents demanded from shareholders, permitted activities and property registration scope.