Can one buy an offshore or onshore company abroad anonymously? If yes, then what is the sense in it and what are the advantages and drawbacks. Based on our recent observation, we would like to shed light on this matter.
First and foremost, it is essential to distinguish between two main differences when buying a company anonymously and subsequently opening an account for this company, which are: the legal way and a way that by and large does not comply to the international regulations and requirements.
Buying a company anonymously without the compliance to the regulations entails risks and drawbacks.
The latter way, for instance, is an option of buying an offshore company anonymously with nominees and opening an account with the same nominees, whereby the ultimate beneficial owner has the access to the account. Such way of buying an offshore or onshore company defies the current norms and prerequisites of bank regulations, as a bank must know who the ultimate beneficial company’s owner is.
Besides, no serious registered agent who values security of its clients will sell you a company without the provision of necessary documents from yourself as the beneficial owner.
This, seemingly additionally secure and anonymous way, is in fact bears higher risks for its owner. The funds on the account of such company can be blocked by bank at any time due to the non – compliance to the applicable terms and regulations. Furthermore, one ought not to forget the risks which may ensue from the possible hidden agenda of nominee’s misconduct who has got the access to the account – such risks increase manifold.
Buying a company anonymously in accordance to all the regulations – advantages of this solution
There is a range of solutions, when registering a company and opening a bank account can be done in accordance with the terms and regulations. In order to bring the objective into effect, it is necessary to choose company’s jurisdiction/country, where there is no access for third parties to any information recorded in companies’ register. This kind of registration is subject to provision of all necessary documents from you as the ultimate beneficial company’s owner.
There is a wide choice of countries with a necessary level of confidentiality for a registering a company. The United Arab Emirates is one of those jurisdictions. This country provides an opportunity to register various types of companies with an option of registering companies with a full tax exemption
The banks’ confidentiality and anonymity of clients’ information play a very important role when choosing a country for company registration. The UAE also fit into that category, providing a needed level of confidentiality and allowing for an offshore company to open an account in a bank in UAE. The majority of other jurisdictions which provide offshore company registration do not allow to open an account in a country where the company was registered. The Emirates banks provide a high level of security and anonymity/confidentiality among others.
It seems like the most secure way of structuring a company or business the way that if need be, one should always be able to present oneself as the company’s beneficial owner without having to expose to risks and at the same time minimise tax and other business expenses. The solution for that is an onshore company with no levied taxes on its generated profits, whereby such company can be a tax resident of UAE provided all necessary conditions are fulfilled.
One can declare ownership of such company in one’s home country without having to worry about company’s profits being taxed. If there is no such requirement, then it can simply be structured the way that all anonymity and the maximum level of confidentiality is provided in accordance with all international regulations.
For all queries on company registration of any type in UAE as well as its taxation and confidentiality, do not hesitate to contact us via contact details mentioned on our website. We also would be glad to welcome you in our office in Dubai.