Why Open an Offshore Company in Dubai?
An offshore company is designed to provide you with confidentiality. You do not have to make your financial information public in any way. Any filings made to the Government are treated with the utmost level of secrecy. They are only to ensure that the offshore company conforms to the rules and regulations concerning the operation of offshore companies.
Traditionally, the Cayman Islands and the British Virgin Islands have been preferred destinations for offshore companies. It is estimated that four out of every ten offshore companies incorporated worldwide are located in the British Virgin Islands. There are also no personal income taxes, capital gains taxes, or corporate taxes payable in the Cayman Islands and the British Virgin Islands.
However, both the Cayman Islands and the British Virgin Islands are classified as Country/Jurisdiction of Primary Concern with respect to Money Laundering and Financial Crimes. In other words, if you set up your offshore company in either the Cayman Islands or the British Virgin Islands, you run the risk of being associated with a destination that has a reputation for money laundering. This kind of reputation can’t be good for business.