This post is correct. I'd just add, with Canada, there is a special exemption for countries with the tax sharing ITEA agreements that make the dividends remitted untaxed on CFCs in some certain circumstance. So it is probably worthless for taxation everywhere now except Canada.
I do have a Malta resident director, just the UBO is non resident. I need to open a corporate bank account and just checking the options that would be the easiest and least time consuming to proceed. BOV after 8 years are closing the corporate bank account (not personal though), although everything was transparent, revenues coming from within EU from the same companies for years. They are de-risking on a massive scale, even legit running businesses with local offices are being shown exit doors.
Why do you say it’s pointless for a non redident? As long as that UAE offshore company have a non-resident director and you are only the shareholder of it, what would be the problem??
Well, yes, I know about the CFC rules, but a company is not controlled by its shareholder, it is controlled by its directors, so the management and the control of the company will be where the director it is resident, not where the shareholder is resident.
