# Need advice on opening private bank account



## timothysbox (Oct 16, 2008)

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.


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## synthia (Apr 18, 2007)

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.


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## synthia (Apr 18, 2007)

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


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## Mrman (Jul 14, 2008)

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.


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## Andy Capp (Oct 5, 2008)

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.....)


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## Elphaba (Jan 24, 2008)

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 (Oct 16, 2008)

*Reply to Synthia*



synthia said:


> 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.


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## timothysbox (Oct 16, 2008)

*Thanks for the tip*



Andy Capp said:


> 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?


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## timothysbox (Oct 16, 2008)

*Alright  Thanks for the insight*



Mrman said:


> 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.
> 
> ...


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?


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## Elphaba (Jan 24, 2008)

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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## timothysbox (Oct 16, 2008)

*one thing*



Elphaba said:


> 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.
> 
> ...


What is the name of that banking/tax free center in Dubai?


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## Elphaba (Jan 24, 2008)

timothysbox said:


> What is the name of that banking/tax free center in Dubai?


I have just told you that there is no specific tax-free centre in Dubai.

Have you heard of manners by the way??

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## Ogri750 (Feb 14, 2008)

Again, there is no tax free center in Dubai. Are you sure you are not confusing this with DIFC (Dubai International Finance Centre)?


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## timothysbox (Oct 16, 2008)

*your blog*



synthia said:


> 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 like your blog. Nice pictures


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## timothysbox (Oct 16, 2008)

*oh, mayber*



Ogri750 said:


> Again, there is no tax free center in Dubai. Are you sure you are not confusing this with DIFC (Dubai International Finance Centre)?


Can you tell me something about this Finance Center? Does it operate in a quasi autonomous manner as a banking haven of sorts?


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## timothysbox (Oct 16, 2008)

*woops*



Elphaba said:


> I have just told you that there is no specific tax-free centre in Dubai.
> 
> Have you heard of manners by the way??
> 
> -


Sorry . I think Im stressed out. Please forgive me.


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## Ogri750 (Feb 14, 2008)

Dubai International Financial Centre (DIFC)


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## Elphaba (Jan 24, 2008)

timothysbox said:


> Can you tell me something about this Finance Center? Does it operate in a quasi autonomous manner as a banking haven of sorts?


No it does not. It is the financial area of town and a business free-zone.

Wiich part of you need to be a resident to open most bank accounts isn't registering? 

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## timothysbox (Oct 16, 2008)

*ummmm*



Elphaba said:


> No it does not. It is the financial area of town and a business free-zone.
> 
> Wiich part of you need to be a resident to open most bank accounts isn't registering?
> 
> -


Well, I dont think offshore corporations who are opening a business or investment account need "residency" in Dubai. That doesnt make sense does it?


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## Elphaba (Jan 24, 2008)

timothysbox said:


> Well, I dont think offshore corporations who are opening a business or investment account need "residency" in Dubai. That doesnt make sense does it?


 You are not a company. Apart from just one or two banks you need residency to open a local account. 


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## Mrman (Jul 14, 2008)

timothysbox said:


> Well, I dont think offshore corporations who are opening a business or investment account need "residency" in Dubai. That doesnt make sense does it?


Actually, they do. My company (a very large MNC) had to be sponsored.


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## timothysbox (Oct 16, 2008)

*hey*



Mrman said:


> Actually, they do. My company (a very large MNC) had to be sponsored.


nice office! Hows the weather there in UAE? 

Did you have your eye scanned on the way into UAE or into USA? I wonder what would happen if you refused on your way into USA?

Thats pretty cool that you decided to shake things up and relocate to dubai. I thinks thats capital. I wonder what the schools are like...American schools, private, public, universities etc.


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## FlyingDodo (Aug 26, 2008)

timothysbox said:


> Well, I dont think offshore corporations who are opening a business or investment account need "residency" in Dubai. That doesnt make sense does it?


AFAIK you will need sponsorship for your company to open a bank account and definitely personal residency for yourself to have a personal account, but if Privacy is your concern, it is true that UAE (non-international) banks do not have normal data exchange agreements with the EU/US financial authorities, but they will share information under terrorism and security agreements, [which means US Citizens data may be shared to demonstrate compliance with OFAC sanctions etc.]* ignore this I just noticed you said you were not US Citizen However, I am NOT an expert so I cannot show precedent.

I do think it strange, however, that you are vehemently against the US having access to your data but do not mind having to supply information to the Dubai Govt?


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## timothysbox (Oct 16, 2008)

*really?*



FlyingDodo said:


> AFAIK you will need sponsorship for your company to open a bank account and definitely personal residency for yourself to have a personal account, but if Privacy is your concern, it is true that UAE (non-international) banks do not have normal data exchange agreements with the EU/US financial authorities, but they will share information under terrorism and security agreements, [which means US Citizens data may be shared to demonstrate compliance with OFAC sanctions etc.]* ignore this I just noticed you said you were not US Citizen However, I am NOT an expert so I cannot show precedent.
> 
> I do think it strange, however, that you are vehemently against the US having access to your data but do not mind having to supply information to the Dubai Govt?


 
Thats funny! I cant remember the last time the UAE murdered 600,000 civilians in the name of freedom (IRAQ), or established a gestapo like Homeland Security Department, whose sole stated objective is to spy on the "Homeland's" citizen subjects. When was the last time they bombed their own sky scrapers and blamed it on somebody else in a false flag operation as a pretext for war? I have much more faith in the UAE gov't. 

So, I will need sponsorship. What does that entail? I dont want a personal account. I want a corporate/IBC account- probably Bahamian or something similar-- it will be an investment/brokerage account. Funny to need residency for something offshore/foreign.


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## Stravinsky (Aug 12, 2007)

timothysbox said:


> I have much more faith in the UAE gov't.


Things must be VERY bad then!


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## bubble_boy (May 28, 2008)

timothysbox said:


> Thats funny! I cant remember the last time the UAE murdered 600,000 civilians in the name of freedom (IRAQ), or established a gestapo like Homeland Security Department, whose sole stated objective is to spy on the "Homeland's" citizen subjects. When was the last time they bombed their own sky scrapers and blamed it on somebody else in a false flag operation as a pretext for war? I have much more faith in the UAE gov't.
> 
> So, I will need sponsorship. What does that entail? I dont want a personal account. I want a corporate/IBC account- probably Bahamian or something similar-- it will be an investment/brokerage account. Funny to need residency for something offshore/foreign.


YOU have watched Zeitgeist way too much!


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## timothysbox (Oct 16, 2008)

*re Arab Bank*



Andy Capp said:


> 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.....)


Ive checked out Arab bank, and they have branches all over, even one in New York. No good. I need one with no branches in US, Canada, preferably not even one in Europe unless its in like Andora or something.


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## timothysbox (Oct 16, 2008)

*as far as Zeitgiest*



bubbles said:


> YOU have watched Zeitgeist way too much!


not only zeitgeist, but Loose Change, Endgame, Terrorstorm, and many others. The only ones who dont agree with the conspiracy fact of 911 and other false flag operations are those who have not studied them. THey have done this over and over and over again throughout history. If it was just this once then it would be too fantastic and even i would not believe, but when youi see a pattern emerge throughout history, there is no denying that it was a false flag.


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## Elphaba (Jan 24, 2008)

timothysbox said:


> Ive checked out Arab bank, and they have branches all over, even one in New York. No good. I need one with no branches in US, Canada, preferably not even one in Europe unless its in like Andora or something.


Oh for heaven's sake. Just forget it. You cannot have what you want.

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## crazymazy1980 (Aug 2, 2008)

timothysbox said:


> Thats funny! I cant remember the last time the UAE murdered 600,000 civilians in the name of freedom (IRAQ), or established a gestapo like Homeland Security Department, whose sole stated objective is to spy on the "Homeland's" citizen subjects. When was the last time they bombed their own sky scrapers and blamed it on somebody else in a false flag operation as a pretext for war? I have much more faith in the UAE gov't.
> 
> So, I will need sponsorship. What does that entail? I dont want a personal account. I want a corporate/IBC account- probably Bahamian or something similar-- it will be an investment/brokerage account. Funny to need residency for something offshore/foreign.


Firstly, I find your comments extremely offensive.  Secondly whatever you're up to it seems to be a blatant attempt to illegally hide what must be some ill-gotten gains otherwise why not put it in a normal investment portfolio like the rest of us.

Good day to you Sir.


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## flossie (Jun 9, 2008)

Stravinsky said:


> Things must be VERY bad then!


Yes, dire, in fact.


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## alli (Mar 6, 2008)

Stop entertaining him guys, he's obviously not listening to any of you.


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## Elphaba (Jan 24, 2008)

I think we have had quite enough of all this nonsense.

Some people just won't be told.

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