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Is this the end of Offshore & Private Banking in the UAE?

Is this the end of Offshore & Private Banking in the UAE?

Old Dec 12th 2016, 4:50 pm
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Default Is this the end of Offshore & Private Banking in the UAE?

The UAE is a big hub for private banks catering to wealthy clients, many of whom are able to store assets in offshore accounts around the world such as Jersey, Switzerland, and Hong Kong as well as in the UAE. In recent years however, governments have been tackling some of the world’s biggest private banks such as UBS and imposing hefty fines on them for failing to disclose account information to governments chasing tax evaders.

UAE banks warn customers on new international tax compliance measures | The National
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