Things to Consider Before Opening an Open Offshore Bank Account

Many business startups want to open offshore bank accounts in UAE or other Islamic countries. The reason is that the cost of doing business in UAE, especially Dubai, is much lower than the cost of doing business in any other country. So a business startup in Dubai or any other Islamic country can gain a lot of benefits by establishing an offshore business bank account. Let us see how these advantages can be achieved for a business startup in Dubai or any other Islamic country. UAE is a tax-free economy. This means that there is no income or business tax in UAE. This means a very economical business setup in Dubai or any other Islamic country. A business setup in UAE does not require you to pay income tax on the profits earned from your business. You will not be asked to pay any kind of income tax on your salary either. There are also no corporate taxes in UAE or free-trade zones like those in neighboring countries. If a business starts up in Dubai, it will be easier to make business c...