Oxford DMCC News - UAE, Dubai Bank Secrecy & Shareholders’ Confidentiality

May 24, 2017 2:11 pm

It is common knowledge that the UAE’s banking system is more efficient and applies more effective policies than most countries around the world. This is no exception when it comes to protecting shareholder’s personal information.

The UAE companies are not subject to harmful tax practices, meaning they do not have different tax regime for resident companies operating within UAE and UAE companies which operate from abroad. That is, most countries apply a different tax regime and tax rate to companies operating within the country and a different tax regime and tax rate to companies that conduct business outside the country. Additionally, the UAE does not impose tax on the majority of the corporate entities, despite the nature of its activities and its place of operation. Therefore, the UAEs are not accused or pressured from regulatory authorities or other jurisdictions that they apply special tax regimes for different types of corporate entities.

Main features of UAE for protecting shareholder’s information:

  • A company owner’s information is not publicly available and thus cannot be disclosed;
  • The UAE is not obligated to keep records of a company’s shareholder(s) in any central or public registries;
  • The UAE is not obligated to publish financial statements of companies’, in any public or Read More