Opening a UAE offshore bank account can offer businesses a beneficial means of managing their money effectively. Companies with larger assets may consider placing a portion of their assets into an offshore bank account as a form of asset protection. One benefits to this, is that offshore banks have little to no taxes, which is one of the main reasons opening a UAE offshore bank account has become increasingly popular. However, there are plenty of other reasons why someone might choose to open and operate an offshore bank account in the UAE, rather than in their home country.
Other Reasons Opening a UAE Offshore Bank Account is Beneficial
For one, privacy is a priority when it comes to UAE offshore banks. For wealthy individuals, the privacy offered by UAE offshore banking is of the utmost importance. Anonymity should be as important to your bank as it is to you; and in the UAE, this has always been the case.
Financial regulations also differ in UAE, when compared to other popular offshore jurisdictions, which makes it feasible to those who are not necessarily wealthy, but want the same level of protection and privacy. Additionally;
- Money kept in an offshore bank account is not visible to external parties (e.g. creditors, governments and other banks).
- Money stored in a UAE offshore account cannot be seized or held by home country.
- Anonymity measures ensure bank accounts and account holders cannot be tracked.
Those who wish to open an offshore bank account in the UAE will find many options. There are over 300 types of offshore bank accounts in the UAE. All of the banks are highly regulated and well-trusted by investors and businessmen/women from across the globe. Most, if not all, of the offshore banks in the UAE offer online banking technology to ease the process of utilising funds and managing accounts from anywhere in the world.
If you would like to open an offshore bank account in the UAE, or have any questions regarding the requirements to open an offshore bank account – you may contact us here or fill out a form on this page to receive a consultation call.
Zola Group offers holistic corporate services to local and global business clients. Our most popular comprehensive services include company setup, incorporation, residency and banking services. Contact our professional corporate services consultants via phone or email to inquire about how we can help you achieve success in this region's most rewarding emerging market.