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Dubai Offshore Banking

Flexible and confidential Dubai banking system is geared for high net worth individuals

Dubai is an exotic location, best known and popular as a holiday and shopping destination. But this combination of being an exotic destination and being a playground for rich and famous is what makes Dubai an ideal location for an offshore banking and financial centre.

Add to it Dubai's strategic position of being centered between the Europe and Far East and you have a winning combination of an offshore business centre. Dubai also connects the business worlds in Africa with Far East.

Dubai city skyline
Dubai is well known for being one of favourite playgrounds for the world's rich and famous

Offshore Banking

Offshore banking is usually described as having a bank account that is not located within your own country, or your domicile. For maximum advantages this is usually done by openning a bank account in a low tax jurisdiction that is also very secure, both financially and politically. You also want an easy access to your finances and be able to interact with other offshore financial centres from you newfound offshore banking locale.

Doing your offshore banking in Dubai satisfies these requirements, while providing exciting business and investment possibilities. Dubai banks guarantee complete security and privacy for your money and at the same time practice Islamic banking alternatives. The politics and economy in Dubai is very stable.

Should you decide to move to Dubai and live there as an expat, you will discover many advantages and benefits of living abroad. Dubai international financial centre has ensured the emirate of Dubai remain the most promising destination and the offshore business centre. Once you're a resident though, it's best to diversify further and open an offshore account in another offshore banking country. Never keep all of your money and assets in the country of your residence.

Why should you choose Dubai as your offshore banking centre? There are several reasons that make Dubai offshore banking an attractive option.

The Benefits of Doing Offshore Banking in Dubai

The taxation method in Dubai is very conducive for offshore banking business, with its high confidentialy, flexibility and no tax approach:

- there is no tax on interest
- no capital gains tax
- no tax on your investment income
- no inheritance tax
- no taxation information treaties with other countries
- flexible and confidential banking system
- legally protected investors confidentiality

To open an offshore bank account in Dubai should be relatively easy. Keep in mind though that Dubai banks mostly cater for high net worth individuals, so the minimum required deposit is usually $25,000 or GBP25,000.

Dubai Clock Tower
Doing offshore banking in Dubai provides numerous benefits, but its banks mostly cater for
high net-worth individuals.

Dubai Offshore Account

You will be able to conduct many business and investment activities from your Dubai offshore account, depending on your requirements and stipulations. Some of those offshore banking services include:

- Asset Protection and Management
- Investment Portfolio Management
- Inheritance Planning and Wealth Management
- International Business Company (IBC) formation
- Personal Financial Strategies
- Private Bank Accounts
- Personal Tax Consultation

Banks in Dubai are experts in their business and the recent introduction of DIFC - Dubai International Financial Centre - futher highlights Dubai's intent in being a top offshore financial centre.

Some of the world's top banks have their presence in Dubai. Amongst them are: Arab Bank UAE, Barclays Group, Bank Melli, BNP Paribas, Dubai Bank, Commercial Bank of Dubai, Emirates Islamic Bank, HSBC Emirates Dubai, First Gulf Bank, Invest Bank, United Arab Bank, and Union National Bank.

Useful Resources

United Arab Emirates Offshore Banking - http://www.uaefreezones.com/UAEOffshore_Banking.html 

Why Offshore in Dubai? - http://global-money.com/item.php?id=201

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"Money is not an invention of the State. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the State."

Carl Menger - the founder of the Austrian school of economics