10. United Arab Emirates
The offshore financial center of the Arabian world is based in Dubai City. Dubai is not only known as the home to most luxurious real estate in United Arab Emirates but also as tax sanctuary.
As you can tell, the identity of registered company owners along with the shareholders and directors is not registered publicly. Even though they are obligated to prepare annual accounting reports, they will not be presented to any government authority in Dubai. This is the result of Dubai Corporation’s privacy.
On top of that, the strong culture of ask-no-questions and see-no-evil approach to commercial or financial regulation becomes a special attraction to some shady investors.
And like many other tax havens in the world, offshore bank accounts in Dubai are tax free. All information in stored is confidential and will only be given out in case of criminal investigations. In addition to that, the absence of exchange controls makes it easy for individuals or companies to transfer funds in and out of Dubai.
