Summary
In this episode of True Fraud , host Pablo Torres dives into an interesting and unique region when it comes to fraud risk: The United Arab Emirates . Known as a haven for entrepreneurs and international businesses, the UAE is also infamous for its shell companies, free zones, and rapidly evolving regulatory environment. Whether you’re eyeing the UAE as a launchpad for your business or simply curious about how global fraudsters operate, this mini-profile offers a candid look at a region where opportunity and opacity go hand-in-hand.
Transcript
Pablo Torres: Hi, welcome back to True Fraud. My name is Pablo Torres, I'm your host and today we're going to talk about The United Arab Emirates. On previous episodes we've talked about we've done the deep dives on the countries because we give kind of tips on how to navigate that. But really in The UAE all of it is, well not all of it, but you know they're a tax haven, right? Because of that then it lends itself to, it's basically a place for shell companies.
All of these shell companies basically what they do is they're used a lot of the times they're used to hold assets or they're called vanity assets. So these vanity assets are, you know, they go from anything from real estate to cash to stocks to even artwork. They're a free zone in the way that there's no income tax right and so a lot of actually in e commerce is very popular for people to move there so that they don't have to pay that income tax And there's actually, I would say, like a group of people, I don't know how big the population is for thes...