Need advice on opening private bank account

[timothysbox]

Im interested in opening an account in Dubai.

I have heard that there is a Financial Center in Dubai that is like a Tax Haven/Banking Haven. I know that Dubai is a tax free country, but there is a zone inside Dubai that is a tax free banking haven. Could someone please tell me the name of this center?

Also I'd like to find a Bank based in Dubai with no branches outside Dubai, at least no branches in N. America. It's OK if the bank has branches in other banking havens, but I want one with no branches in the US, Canada, or most of Europe. Could someone please tell me the name of a bank like this?

I'd like the bank in question to be in this above banking zone. I'd appreciate anyone's help here, and I'd appreciate any feedback from anyone who has opened a bank acct. in Dubai. Also, what are the trends as far as the economy here? Is is safe to open an acct. here now? Currency stable? Thanks a million.

[synthia]

Why do you want to do this? If you are trying to hide money from the US government (I am a suspicious sole), that is illegal and I don't think you should be getting any advice about how to do it. If you are just trying to avoid the economic meltdown, I don't think that is possible, giving the nature of the problems.

[synthia]

I moved the thread here where you should get better information.

[Mrman]

Also, although Dubai allows for tax-free earnings and the free-zones allow for tax free corporate earnings for 50 years, that does not mean you avoid us taxes. No Tax-free banking haven.

Dubai has a strong relationship with the US and therefore any bank account you open as a US citizen will require reporting that information to the IRS. I filled out an IRS form for my salary transfer account even though I am a resident.

I suggest you research Panama for offshore accounts. My account in Panama is HSBC, but it is a sole Panama entity and no reporting to the IRS.

That said, I am not suggesting you do anything against US law, as I use the account to manage my Panamanian corporation for some real estate investments I have there.

[Andy Capp]

Arab Bank in Deira opposite Dnata building....

(But if you search under the history of the bank you might not want to put your money there, eg. alleged PLO backer.....)

[Elphaba]

The UAE governemnt has annonced that it will underwrite all bank deposits in the country so there should now be no major concerns regarding security. The UAE Dirhams is pegged to the US Dollar.

One major point however, is that the vast majority of banks require you to have residency in order to open an account.


It all sounds rather suspicious to me though.....

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[timothysbox]

Originally Posted by synthia

Why do you want to do this? If you are trying to hide money from the US government (I am a suspicious sole), that is illegal and I don't think you should be getting any advice about how to do it. If you are just trying to avoid the economic meltdown, I don't think that is possible, giving the nature of the problems.

I am a PT in search of privacy. I am NOT a US citizen/subject/slave on the plantation of corporate serfdom, NOT subject to their legislative authority.

Why I want a Dubai account? Why does Dick Cheney have a Dubai account? Why would anyone want a Dubai account? PRIVACY! Security!

It is possible to avoid the economic meltdown, but probably not with a currency thats pegged to the US dollar. Something that at least fractionally reserved will hedge against some inflation.

And anyway, if you are a US subject/slave, after you pay your taxes, what business is it of the US government what you do with YOUR money? The 16th amendment was never lawfully ratified anyway, so there is no law authorizing an income tax. Its a voluntary assessment.

[timothysbox]

Originally Posted by Andy Capp

Arab Bank in Deira opposite Dnata building....

(But if you search under the history of the bank you might not want to put your money there, eg. alleged PLO backer.....)

Ill check it out. If it was used as PLO backer, all that means it that its used by CIA, MOSSAD, MI6, JESUITS, etc... and if they use it, its probably secure.

Whats the name of that tax free center in Dubai?

[timothysbox]

Originally Posted by Mrman

Also, although Dubai allows for tax-free earnings and the free-zones allow for tax free corporate earnings for 50 years, that does not mean you avoid us taxes. No Tax-free banking haven.

Dubai has a strong relationship with the US and therefore any bank account you open as a US citizen will require reporting that information to the IRS. I filled out an IRS form for my salary transfer account even though I am a resident.

I suggest you research Panama for offshore accounts. My account in Panama is HSBC, but it is a sole Panama entity and no reporting to the IRS.

That said, I am not suggesting you do anything against US law, as I use the account to manage my Panamanian corporation for some real estate investments I have there.

So, the best bet either way is to use an offshore Corp. name anyway whether in Dubai or elsewhere. And if the DUbai currency is pegged to the dollar, its no good. So I want a Euro acct. Great. Thanks for your reply. Some people around here sound like they think that anyone in search of freedom must be a criminal! Too much TV! Matrix has them! They've been Marxized. Seriously! The Marxist who's about to be elected president has said that when he gets into office he's going to close down any loopholes for US citizen/subjects to use offshore accts. Mind you he's leaving the door wide open for corporate interests of course. All the rest will be criminalized! Naughty freedom seekers!

Whats the name of that Dubai banking/tax haven center?

[Elphaba]

There is no specific tax-free centre in Dubai. And as I mentioned in an earlier thread, you have very limited options as a non-resident.


You may also find that you receive a better response by being polite and thanking people for their responses, as opposed to being somewhat aggressive....

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