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?

 

[Clank]

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

 

[Martin Everson]

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

No

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

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

Twelve no/low tax countries share data on companies with no substance with UBO's country

Since March 2021 twelve countries now automatically share information on companies with no economic substance and where beneficial owners are non-resident. I think non-resident folk with companies in the below countries may be in for a letter from their tax man. Anguilla Bahamas Bahrain...

www.offshorecorptalk.com

 

[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]

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.

Twelve no/low tax countries share data on companies with no substance with UBO's country

Since March 2021 twelve countries now automatically share information on companies with no economic substance and where beneficial owners are non-resident. I think non-resident folk with companies in the below countries may be in for a letter from their tax man. Anguilla Bahamas Bahrain...

www.offshorecorptalk.com

Why does Dubai agree to this?

 

[Martin Everson]

Why does Dubai agree to this?

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.

 

[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

Business Setup in Dubai, UAE | Company Formation in Dubai

New Business Setup in Dubai, UAE is made more easy with company setup. We offer Low Cost company formation in Dubai,Trade license, visa and PRO services.

www.companysetup.ae

I know a few people that have used this service in the past.