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An offshore bank account is an account that can be opened outside your home country. It is usually used for benefits such as asset protection, tax optimization and international transactions. Nowadays offshore bank accounts in Dubai are increasingly becoming popular among expats as it provides them a chance to grow their savings in a tax-efficient economy. Dubai is one of the world’s most prominent banking hubs with a network of international and local banks featuring highest security standards and latest features. There are several benefits to opening an offshore bank account in Dubai which are listed below:
One of the major benefits of having an offshore account in Dubai is the full repatriation of profits. Individuals who are living and working in Dubai can remit their income back to their home country without going through the tedious process of setting up foreign bank accounts.
Having an offshore bank account provides you the freedom not to depend on any one country. It has always remained to be a successful way of controlling your long-term finances. This convenience and flexibility are beneficial for expats who constantly move from one place to the other.
The safe, stable economic and political conditions of Dubai make it ideal for offshore accounts. It is beneficial for the expatriates belonging to the areas where there is a high risk of political turmoil and chances for seizure or freezing of local accounts and assets in their home country.
Offshore accounts in Dubai offer excellent security and anonymity for the protection of their client and client information is never disclosed.
With the help of 24x7 online banking, you can easily access your funds anytime anywhere.
In terms of tax optimization, an offshore bank account acts as a saviour. There is no personal or corporate tax on interest, investment income, and capital gains. Apart from that, there are no currency restrictions and expats can utilize the global investment opportunities in Dubai.
Polestar would be glad to assist you with the process of opening a bank account company during your company incorporation or relocation. Our team of experienced and highly qualified banking experts understands the importance and urgency of a corporate bank account clearly. If you have any queries or concerns, we will happily assist you. Contact us to know more.