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I would not keep significant amounts at Bankera and would use it only as a transit acc. at best. LT regulator is cracking down on lousy AML practices and Bankera is first in line. They will not last a year before they get some fines or even loose license altogether. See what MrTango AML became...

no it will not work. Because of CFC rules. If your UAE offshore co. will not obtain tax residence somwere else it will be treated as doing business in PT trough you personally.

UAE offshore IBC companies are non-UAE tax resident entities. UAE double tax treaties are not applicble to this type of IBC co.

It is so difficult to do for activlly trading entity without you being UAE resident, that the answer is most likelly not.

Please note that all this idea will work only if you are a tax resident in low tax country or a country that does not participare in CRS. If you are a resident of a CRS participant country any bank or EMI of your UAE co will report you to your tax authorities and they get you for your CFC...

Then why in the pre-sale contact to say "no accounting" and only after the client engages you with money and notion of "all is easy and no accounts" you will "reccomend" that they will definetly need to do the accounts and much more.

I just cant believe there still are some companies formation "advisors" saying such thing as "no accounting required" Yes it is true that some registering authorities do not require regular annual submission of companies accounts, but it does not mean you dont have to do the accounting for an...

I belive this one is straight to the topic - about significant developments concerning the offshore companies and may be end of the game for EU providers.

I did not say it was the end. It is however importand development for EU residents, and I asked the question James Turner whether they will report EU clients that use their services. Still got no reply. Will they be providing services as nothing happened and reporting their clients to tax...

I see his details are of Cyprus, so it appears any European client engaging them will be reported to relveant tax authorities for all historical cross-border arrangements implemented since 25 June 2018..

Dear Gediminas, if in the process of your engagement a client of yours would like to discuss some ways around some tax issues would your services provided fall under DAC 6 reporting obligations? Will you and your partner CPA will be reporting your clients historic arrangements...

The aim of the DAC 6 rules is to provide HMRC, and other EU tax authorities, with additional information to identify and challenge offshore non-compliance, but also to seek to deter people from engaging in aggressive tax arrangements. Despite the DAC 6 rules being led from the EU, they will...

Dear James, if in the process of your engagement a client of yours would like to discuss some ways around some tax issues would your services provided fall under DAC 6 reporting obligations?

You are absolutelly right. In theory all supposed to work just like you say. However in practice a lot depends on tax authorities attitude and wider tax environment. In wider context you should be aware of various versions of "Carousel fraud" fraud re:abuse of intra EU VAT reverse charge...

Yes, continuous tax audits. Especialy if company's major revenue is zero rated VAT. Then you have to regularily apply for input VAT refud and get audited automaticly with many questions regarding nature of revenue and why the company does not generate payable VAT up to providing strong proof re...