Let me get you clear first with a simple question. Why we need to have an offshore account? The answer everyone wants to have maximum money in their pocket. Is there anyone who don’t? I think no there would be no one. Now through this type of accounts, one can avoid their taxes easily and completely in a legal manner. Nobody can question you on this and all this could be possible through this type of account. Secondly, when we talk about a region of Dubai and to banks of Dubai for this purpose it is just because there is no tax or interest rate on any income you will earn on the land of Dubai. So the main reason for opening offshore accounts in Dubai or any other country is because of the leniency and flexibilities. When we talk about the major benefits one can get from this type of account these include –
- Excellent profits ratio on savings
- Fast transaction facilities all over the world
- Highly secured account
- Complete control on your money
- Tax-free income
Legal aspects involved in the offshore account in Dubai –
In past and especially about a few years ago it was a much-heated debate in news all over the world on the legal aspects of having offshore accounts. Well, I will be mentioned here that Switzerland and Dubai are two most developed states where there is no one allowed to make any controversial statement over offshore accounts like an illegal way of earning money. However, it is not that easy to understand when we analyze the things in depth. But in simple words, it is not that bad as it is seen in the news segments all over the world. I will explain it with an easy example. Suppose you live in England and you open an account in a local bank of Dubai as did by the father of Prime Minister of Great Britain. Now that will be considered as offshore accounts. While on the other hand if you live in America and open an account in a local bank there, it will not be considered an offshore account for you. This means that offshore banks are the banks that are out of the jurisdiction of a country.
Now the point is why some people and different media’s outlet portraying these accounts as an illegal entity. Well having an offshore account is completely a legal process and anybody can open or have that type of account. But the point is when you make transactions from your local banks to your offshore accounts, you have a complete detail of your transactions. In most of the people who were caught in their home countries for having offshore accounts was because they could provide a complete and correct money trail of their transactions. For example in case of Greenland’s Prime Minister and Pakistan’s Prime Minister. So they have to face the court for such type of charges and this was an act of crime. So local media there highlight the stories in a completely different manner and this thing ultimately misguide the people about offshore accounts.
Special features of offshore accounts through Mashreq Bank –
Generally these accounts at primarily level deals with investment projects. But also banks having such facilities provide many other facilities in the form of discount offers. One of the most important and best-considered bank is Mashreq bank of Dubai. It is the most reliable bank in UAE. Most of the international investors are engaged with this bank in some or other way. Also, locals and expatriates live in Dubai are quite happy with the services and offers being provided by Mashreq bank. Along with investment banking, digital offshore options make it more popular among far-off account holders. Through internet banking options one can easily approach and get access to his/her account at any time. Also, 360 branches of this bank all over the world is a big edge for its clients. If you want to know more about Mashreq bank facilities, go to the official website portal and click on the option of offshore accounts services. Everything will be on you hand within seconds.