United Arab Emirates Banks

United Arab Emirates Banks

The United Arab Emirates are a federation formed by seven independent states situated along the center of the eastern coast of the Arab Peninsula. They share borders with Oman and Saudi Arabia, and are separated from Iran by the Straits of Ormuz. The extraction of natural resources comprises 33% of the total GDP. The Emirates are the third largest producers of the world’s gas. At present, it is estimated that their petroleum and gas reserves will be sufficient for another 400 years. The Federation is found among the 25 top exporters and among the top 30 importers of merchandise in the world. Registering an offshore company in the Emirates has a number of advantages, among which we find: there are no taxes on companies, no retention from the origin, nor VAT; the Emirates have an excellent image before the world, and is not a tax haven; there is no exchange of information outside the country; also, the Emirates are not members of the OECD, however, they are not on the organization’s black list, either.

The process for incorporating an offshore company is quick and easy. The banking network in the Emirates is advanced and trustworthy. Bank secrecy is severely applied in the Emirates and is guaranteed by law. In agreement with the Know Your Client provisions, only the bank knows the real name of the beneficiary of the offshore company’s bank account.

Authority for securities and prime materials:

Telephone: (+971 2) 6277888

E-mail: [email protected]

Web: http://sca-mo1.sca.ae/English/Pages/default.aspx

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