As you may be aware over the past few months I have been trying to persuade many of our clients to take a look at the jurisdiction of their current IBC company. As you may know, I have been heavily recommending United Arab Emirates, Ras Al Khaimah (RAK) Ras Al Khaimah IBC companies, and in certain circumstances UAE, Free-Zone Companies.
For those of you who are unaware or have not fully read my previous missives on the subject, (tut tut), UAE Ras Al Khaimah (RAK) IBC companies, are Dubai's version of a tax-free IBC corporation, whilst Free-zone companies in the UAE provide for the location of the company in the UAE, thus are not recognised as an 'offshore company'. Free-zone companies are also hundred percent free of corporation tax, and are recognised as companies of 'Substance'.
So why you may ask am I on this mission? Clearly over the past few years, so-called, 'tax haven companies' have been heavily under the spotlight, both nationally and internationally. Even this week, that nasty little man, UK Labour leader, Jeremy Corbyn who believes that he is contender for the post of prime minister in the UK, is still ranting on about the evil rich hiding their money offshore. The reality is, this is old hat rubbish spouted by the likes of Jeremy Corbyn for dramatic effect. There is no doubt in my mind that the 'offshore industry' is probably more compliant than many onshore structures. Companies like, Amanda J Molyneux & Co have been ahead of the game and for many years have tried to ensure that their clients, handle their international business affairs in a compliant and safe manner. My message to our clients has always been, take maximum advantage, but don't take the pee-wee!
1983 saw the introduction of the international business companies act (IBC) used today by nearly all offshore jurisdictions. In its simplest form, an IBC company is free to trade across international borders, free of corporation tax and local taxes such as VAT in Europe. Of course, the owners of such companies will probably have tax liabilities on a personal level for monies and profits drawn from such companies from their resident country tax authority.
Banking in Dubai: whilst I consider the UAE (Dubai) the perfect location for your offshore company, I must admit I am not quite so keen on the banks in the UAE. There are several reasons for this, firstly under UAE law to open an account in the UAE clients are required to travel to the country to open a bank account. Sadly, there is no way around this as it is an absolute legal requirement. My second reason for my growing dislike of the banking institutions in Dubai, is the lack of efficient service whilst dealing with clients. We provide an alternative to locating your banking in the UAE. We are licensed to a number of banks who will happily accept UAE companies such as, Ras Al Khaimah (RAK) companies and UAE Freezone companies. In fact, UAE RAK companies with a non-UAE bank account are our top-selling product. Using our package of UAE RAK company and non-UAE-based bank, offers our clients the best of both worlds, and of course an added benefit is that we can open these accounts remotely without the need for our clients to travel.
So now how am I going to persuade you without sounding like a market stall holder that purchasing UAE RAK company with a non-UAE bank account is in your best interest? Simple, just let me put on my cloth cap then I am ready to offer you a deal, and have I got deal for you. Our UAE RAK IBC company offer, which includes nominee director services, and bank account. Our usual retail price is: £4250.00. We are offering a discount of £750.00 off the usual retail price of the package. This offer ends on the last business day of August. We have only 10 Company packages at this price so contact us now for this special offer. Seriously, this is a great offer to encourage our clients to move their Companies or to open a new company in the UAE.