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Offshore Banking in UAE | Helpful Definitions

Offshore Banking in UAE can have two meanings:
a) the banking services provided by the banks located in typical low-taxation offshore jurisdictions such as Panama, Seychelles, Belize, etc.;
b) can refer to any banking being simply located in the country, other than the country of incorporation of the company, for example, in Switzerland, Austria or bank accounts in UAE (United Arab Emirates).
When choosing the option of the offshore banking where to open the bank account it is important to make the right choice of the country and the bank as banks vary greatly on the scope of services and the requirements they have for the accounts opening.
Most of offshore banking jurisdiction are stable and well-regulated by local as well as international banks regulatory authorities and strictly follow the international FATF standards.
Offshore banking has the long-standing history and reputation and is the safe and reliable solution for individuals as well as for legal entities.
From the prospective of a foreign individual living outside of UAE opening an account in UAE can be seen as the offshore banking for such an individual or corporate entity.
UAE banks provide a number of effective and cost-efficient banking facilities and such bank account can be opened for individuals as well as local and foreign offshore and onshore companies.
To open bank account in UAE or in open bank account in Austria, Switzerland or other country please CONTACT US