UAE, Dubai Bank Secrecy & Shareholders’ Confidentiality

It is common knowledge that the UAE’s banking system is more efficient and applies more effective policies than most countries around the world. This is no exception when it comes to protecting shareholder’s personal information. The UAE companies are not subject to harmful tax practices, meaning they do not have different tax regime for resident […]


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Confidentiality Protection

The UAE Ministry of Finance issued a guidance note on Common Reporting Standards (C.R.S) which states that individuals who are UAE residents for tax purposes are not reportable by the UAE Financial Institutions. The UAE definition of “Resident Person” is someone who holds a valid UAE Residency Visa and a UAE Identification Card. Our Dubai […]


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What UAE Companies need to do to Prepare for VAT

While the UAE is preparing to introduce a new Corporate Tax and VAT, companies and firms are called to review numerous features including their financial systems in order to evaluate whether they are ready for the tax. Therefore, companies will have time to alter their financial and accounting systems. While it is still early for […]


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Bank account in Dubai

Individuals who are owners or partners in UAE entities can apply for corporate and personal bank accounts. The facilities the banks offer depend on the type of company an individual has (for example UAE Offshore or UAE Onshore) and the type of visa an individual maintains (UAE resident or non-UAE resident). Most of the UAE […]


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Dubai Needs to Extend Taxation

In order to compensate on the loss of oil revenue and reliance on the hydrocarbon sector it is recommended that the United Arab Emirates (UAE) government introduce a new corporate tax, excise tax on vehicles as well as a VAT. According to the latest report issued by the International Monetary Fund (IMF) it is proposed […]


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What is required to open an offshore account?

Offshore banking is viewed negatively by most because it is linked to money laundering, top secrecy and tax evasion. However, reality is that it is legal to set up an offshore account and anyone can do so as long as he/she meet certain requirements. The majority of expats open offshore accounts in order to access […]


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UAE – Corporate Tax & VAT

According to recent developments, the United Arab Emirates (UAE) is planning to introduce a new tax in order to increase government revenues. The drafting of new laws concerning both the implementation of Value-Added Tax (VAT) and Corporate Tax is estimated will be completed within the next three months. In line with the Ministry of Finance, […]


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UAE signs FATCA Agreement with USA

The United Arab Emirates (UAE) signed the United States of America (USA) Foreign Account Tax Compliance Act (FATCA). This means that the UAE has agreed to share information regarding the finances of USA citizens based in the UAE. The FACTA was initially passed by the USA congress in 2010. The purpose the FACTA was introduced […]


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Temporary Taxation

Based on the Inland Revenue law, every company is required to calculate its taxable income for this year by the end of June. Furthermore, companies are called to make two equal payments on the projected amount of tax on 31 July and 31 December. In cases where the company submits the IR6 declarations and does […]


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Three-Thirds of Dubai’s Real Estate Buyers are Foreigners

Dubai earns billions from the sale of top-notch real estate properties annually. The question is who are the rich property buyers and where does their money originate from? Based on Christie’s International Real Estate research, Dubai has attracted much more High-Net-Worth Individuals (HNWIs) who have purchased property in comparison to other popular destinations like the […]


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