Dubai company for asset protection, good?

[ImKing]

I was wondering if it makes sense to register a Dubai company for holding company only.

No trading only moving assets into the company to protect them against authorities and other creditors in Europe?

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Do you want a total anonymous company with bank account? Get a step by step guide on how to do that here, it only requires mentor group gold.

 

[Clank]

There are better options such as Nevis, Cook Islands or Belize for asset protection.

 

[Martin Everson]

ImKing said:
I was wondering if it makes sense to register a Dubai company for holding company only.
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No

ImKing said:
No trading only moving assets into the company to protect them against authorities and other creditors in Europe?
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If you don't live in UAE and company does not have any economic substance the company will be automatically reported as per below.

https://www.offshorecorptalk.com/th...es-with-no-substance-with-ubos-country.36103/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[myshufflemix]

Thank you, I am considering closing down my company that Fred set up for me a while ago. However, I wasn't aware that it gets reported. I will have it wound up promptly.

 

[diro]

Martin Everson said:
No



If you don't live in UAE and company does not have any economic substance the company will be automatically reported as per below.

https://www.offshorecorptalk.com/th...es-with-no-substance-with-ubos-country.36103/
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Why does Dubai agree to this?

 

[Martin Everson]

diro said:
Why does Dubai agree to this?
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OECD moved in on them some years back to get them to clean up their financial sector. UAE wanted to avoid being put on blacklist and the negative implications to foreign investment it would have on its economy. They are powerless to fight back against the OECD demands just like us in the Caribbean were also.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[PinkCat]

What about an US c corporation as a holding company for your companies and real estate in other countries? You have moderate privacy (no public records of owners) and banks don't treat you like a criminal for being owned by a foreign company (like they would do with Belize, Saychells, UAE etc....)?

 

[bubbledouble]

Anyone know of an reputable service to setup a Dubai company?

Do you know if they have a public company register?

 

[aage]

There have been a few around able to provide a reliable and trusted service on OCT - sadly they seem not active any more since Dubai went down with their taxing of companies. It's less popular it looks.

 

[lory]

You may try
https://www.companysetup.ae/
I know a few people that have used this service in the past.

 

[Propeller]

Clank said:
There are better options such as Nevis, Cook Islands or Belize for asset protection.
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How are they better, any real point you can mention ?

Martin Everson said:
No



If you don't live in UAE and company does not have any economic substance the company will be automatically reported as per below.

https://www.offshorecorptalk.com/th...es-with-no-substance-with-ubos-country.36103/
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okay, that's not to be discussed, however, are they really doing it or is it just on official papers they do it?

PinkCat said:
What about an US c corporation as a holding company for your companies and real estate in other countries? You have moderate privacy (no public records of owners) and banks don't treat you like a criminal for being owned by a foreign company (like they would do with Belize, Saychells, UAE etc....)?
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what bank would not do this ?

 

[Martin Everson]

Propeller said:
okay, that's not to be discussed, however, are they really doing it or is it just on official papers they do it?
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They are really doing it.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Propeller]

Then it doesn't really make sense to register a company in Dubai. It would be better to look for another option, like a US LLC in New Mexico instead.

 

[Clank]

Propeller said:
Then it doesn't really make sense to register a company in Dubai. It would be better to look for another option, like a US LLC in New Mexico instead.
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You are right, I closed mine and just kept my personal bank accounts open as a non-resident as the banking is not bad (at least ENBD).

 

[manukahoney]

There are structures called DIFC trusts. I recommend looking into it.

 

[JustAnotherNomad]

manukahoney said:
There are structures called DIFC trusts. I recommend looking into it.
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And then what? Depending on where you live, they won't be recognized.
As far as I know, DIFC has their own private courts that follow UK law, but how independent can they really be?

 

[JackofAllTrades]

Bahamas Tax free Trust

 

[daniels27]

With all due respect, I have a feeling that your chances of getting customers here would increase if you would give useful answers rather than posting outright spam. Would it be possible to edit your post and add at least some content? And I mean real content that he neither generic not from some AI generator?

 

[First Idea Consultant LLC]

Clank said:
You are right, I closed mine and just kept my personal bank accounts open as a non-resident as the banking is not bad (at least ENBD).
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open a account with non resident is not a good option because as a non resident you signed CRS form that means your information will share and as a UAE Resident you are protected for this.

 

[First Idea Consultant LLC]

manukahoney said:
There are structures called DIFC trusts. I recommend looking into it.
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DIFC is expensive and complicated, better RAK ICC Offshore setup and trust.