How Dubai Government will know that I own single person USA LLC ?

[tickertrader]

But there are other tons of problems that one has to find a US-Friendly jurisdiction, etc.‌ Probably it doesn't worth the hassle but just going with US LLC directly may be‍ a better solution

 

[PinkCat]

I was thinking the same thing,⁠ why have the company in the Caymans, when you can have the company and the⁤ bank account in the US, much easier to open bank account in the US for⁣ US company (which is still not super easy if the owner is a non-US person⁢ but doable).

In short and generally speaking, US gets information about its citizens from everyone︀ but gives information to no one. So, US is something like super offshore heaven if︁ you are not an US person.

 

[Cloudbanck]

As per the US Treasury https://home.treasury.gov/policy-issues/tax-policy/foreign-account-tax-compliance-act a Model 1 IGA︇ between the US and the UAE has been in force since 2016.
Here is the︈ actual Model 1 IGA: https://home.treasury.gov/system/files/131/FATCA-Agreement-UAE-6-17-2015.pdf
I see nothing in it about US financial institutions sending︉ info to the UAE though, everything is about the other way round.

 

[JackAlabama]

https://home.treasury.gov/system/files/131/FATCA-Agreement-UAE-6-17-2015.pdf
well as‍ the world is structured right now this makes perfect sense 😉

 

[Cloudbanck]

Indeed.

In the decsription of a Model 1 IGA it says:

• The exchange of information under a Model 1 IGA may be on a reciprocal or nonreciprocal‍ basis.
  

My guess here is that by default it is nonreciprocal, but if the non-US⁠ country really insists in a certain case, they can get info.