Offshore In Dubai
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Why Offshore In Dubai?
Individuals and companies go offshore for a wide variety of reasons:
Reduce or eliminate tax
Protect and grow wealth
Enhance privacy
Avoid unnecessarily intrusive bureaucracy
Offshore structures are used for a variety of purposes with the above named objectives in mind.
Since an offshore company has a separate legal persona from its shareholders and directors, it can hold assets safe from creditors of all sorts. It can also hold assets to avoid lengthy probate issues and own property and land to avoid capital gains tax.
An importing and/or exporting company can be established offshore which acts as the agent or distributor of a company or individual in a high tax jurisdiction. The offshore companys fees, commissions and other earnings are free of tax in its jurisdiction.
Individuals earning substantial fee income can benefit from utilizing an offshore company for billing purposes. The salary drawn from the offshore company may be subject to tax where the individual is working but the surplus can be invested free of tax.
Offshore companies are often formed to tale tax advantage of a non-recurring transaction involving a large capital gain or profit. The offshore company can provide services relating to the transaction and retain its fees free of tax.
For example, you may well benefit from using an offshore structure if you are involved in the following types of transactions;
An offshore company many not be subject to capital gains tax on the increase in the value of a property which it owns.
As a contract worker you may benefit from billing your services in the name of an offshore company. You are normally liable for tax on the salary paid by the offshore company to you but any funds left in the company may be tax-free until you actually receive them.
The limit for inheritance tax in the UK is now 240,000 pounds. This means that most ordinary people with a house will fall into Inheritance Tax payment. Careful use of an offshore structure can reduce or eliminate your inheritance tax bill and you can leave more to your heirs.
Dubai represents a unique opportunity in the offshore world today. It has a number of key advantages over other locations which, when combined, provide clients with the most confidential and secure offshore solutions available anywhere.
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