From Shelter Offshore:
A brand new, highly attractive, flexible and potentially tax-free offshore company and bank account package is available in the UAE with business banking through Barclays Bank in Dubai
Read the detail.
Then ask, what’s that all about?
Then wonder about Barclays.
Posted by Richard Murphy at 10:32 am
3 Responses to “Now why would Barclays want to offer this?”
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“This is a bespoke and unique package offered by a third party company.”
“The UAE offshore company and Dubai bank account package being offered by our preferred partner.”
As is usual these obnoxious “schemes” are operated via a web of companies registered in dubious “secrey jurisdictions” with no known shareholders/directors.
The word “sickening” comes first to mind – followed by “stop this nonsense now”.
Keep at the them Richard – the vast majority of the world’s population is on your side!
Because expats working in the Middle East who often used to bank with Channel Island banks don’t want all the problems of disclosure to HMRC (i.e. proving that they are not resident in the UK).
So that’s 0.5% of the market
Now explain the rest