As an expat you may enjoy very low or 0% taxation. However it is important to recognise that moving funds to the security of a savings account in your home nation is likely to attract tax liabilities from your country of citizenship and/or domicile. In addition you may have payment obligations in your home country which require regular direct debits which can be difficult and costly to set up with-in the UAE banking system.

This is why it is important to consider the potential advantages of offshore banking when working in as an expatriate.

HMS can advise and help you set up an off-shore bank account in a suitable location depending on your circumstances and requirements. We have well established relationships with many off-shore banks and can make the process easy for you.

Please contact Tony Walker who can be contacted on +971 (0) 4 457 3888 or