Many jurisdictions are considered only as tax havens. The United Arab Emirates is a 'real' country with a 'real economy' with a population of approximately 4 million. It has an established history of international trade, finance and business, and today it is one of the fastest growing countries in the world with one of the highest standards of living. The choice of a suitable jurisdiction is an important decision and requires careful considerations. Important aspects to be examined may be outlined as follows:
Buy/Hold/Sell stakes of companies
Intermediary Brokers (IB's)
UAE is not a dependent or 'overseas' territory of another country Pressure has been put on traditional low tax jurisdictions by the Commission of the European Community (EU) in conjunction with the Organization for Economic Cooperation and Development (OECD). The UK parliament has converted British Dependent Territories to British 'Overseas' Territories (in 1998). The UK government may apply greater control over its tax haven progeny (ie Bermuda, BVI, Caymans, Gibraltar, Turks & Caicos)
UAE has Double Taxation Avoidance Agreements (DTAA) with a number of countries Double taxation agreements prevent individuals and corporations from being susceptible to paying tax on the same item during the same time period. These agreements determine which of the two states concerned should levy tax in a particular situation: Austria, Belarus, Belgium, Canada, China, Czech Rep., Egypt, Finland, France, Germany, India, Indonesia, Italy, Lebanon, Malaysia, Malta, Morocco, New Zealand, Pakistan, Poland, Romania, Singapore, Sudan, Thailand, Tunisia, Turkey, Ukraine. UAE is not a member of the Organization for Economic Cooperation and Development (OECD) No foreign exchange of information. UAE is not on the OECD 'blacklist' of tax havens (nor the FATF blacklist) UAE is not a member of the EU, and is not subject to EU regulation