Dubai
Dubai is a fast growing zero-tax haven. This former British colony has no
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Income tax
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Corporate taxes
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Wealth taxes
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Capital gains taxes
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Gift taxes
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Death duties
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VAT
Dubai has almost no taxes because its government is very small. Unlike most low tax jurisdictions Dubai doesn’t levy high import duties. The highest tariff is 5%. This can be explained because the emirate is being run as a corporation. Over the last 30 years, the successive emirs of Dubai have chased only one goal: to turn Dubai into the most attractive and most prosperous place in the world. To a great extent, they have succeeded in their objective, breaking one economic record after another:
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Overall economic growth rate of 17% per annum.
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The fastest growing population in the world (24% per annum), now attaining 1 million residents.
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Thanks to the ultra liberal immigration policies the population consists for more then 85% of expatriates.
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Of all major building cranes in the world 17% are deployed in Dubai.
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Dubai has the largest port ever built, and is building an even bigger one.
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The most spectacular example are the residential Palm Islands-complexes, the largest artificial island project in the world in the shape of a palm tree.
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In 2003 Dubai was the world's safest holiday destination according to research conducted for Conde Nast Traveller. With over 5 million tourists per year Dubai has every thing to gain with keeping this title.
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The Burj Dubai will break more than one record. It will not only be the tallest building, but also the tallest construction. The exact height is kept secret but the building is expected to exceed 750 m. There will be over 200 usable floors, which is double the present record held by the Taipei 101.
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The new Jebel Ali Airport, when completed, will have the capacity to handle 120 million passengers and 12 million tonnes of cargo annually, one and a half times present world leading Atlanta's Hartsfield and 10 times the capacity of the present Dubai International.
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With it's 17 free zones, Dubai is nr. 1 in the world in free zoning.
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With Dubai International Financial Center Dubai has the first financial free zone, following largely the English law structure.
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Dubai has the first health free zone, Dubai Health City, providing a well developed network of hospital and health institutions.
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Dubai has the world's first 'E-Zone' (E-Commerce Free Zone).
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Dubai has 40 double tax treaties. This is unique for a zero-tax haven. Dubai however has no treaties on exchange of information. Thus our clients’ privacy is guarded.
Other particularities:
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Import and export of capital, profits and wages are entirely free.
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Labour: no minimum wages, no unions, no mandatory notice. There are no restrictions on the hiring of foreigners.
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The official language is Arabic, but as the Emirati represent only 15% of the population, most people speak English. Arabic and English are the "official business languages."
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The most frequent form of criticism of present day success of Dubai is that it is founded on an oil bubble. But that is based on an overestimation of the mineral reserves of the emirate. Only 6% of government revenues are derived from oil production. Tourism contributes much more. The extensive economic liberties, the plurality of economic activities together with the geographical position on the crossroads of Europe and Asia, and the political stability are a safeguard against sudden economic shocks. The local currency is pegged to the US dollar ($ 1 = 3,67 dirham).
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With its superb (communication) infrastructure, Dubai is ideal for setting up of an international trading business. Energy is very cheap.
Combining a company incorporated under the laws of a good offshore jurisdiction, like the Republic of Seychelles, with a management in Dubai is a guarantees optimal privacy, especially because details on shareholders are not publicly registered.
Download more information: Download meer info: Dubai Trading Company