Private Financial Services

🇦🇪 Dubai gave residents rewards for inviting friends... and then closed the program

Sometimes a city’s appeal is better measured not by rankings or reports, but by the sheer level of response.

Dubai launched “A Dubai Invite”, a program that rewarded residents for inviting friends or family from abroad. In return, they could receive a bonus package worth up to AED 3,000, covering hotels, restaurants, attractions, and transportation.

Registration has already closed, for a reason Dubai can hardly complain about: more than 90,000 applications from residents and over 30,000 reward packages issued. Demand was so high that the number of available packages had to be increased more than threefold.

Those who managed to register have nothing to worry about: invited guests can travel to Dubai until October 31, while the rewards remain valid until the end of the year.

Dubai chose to rely not on traditional advertising, but on its own residents. The logic is simple: no one sells a city better than someone who already lives there.

Nearly 200 nationalities call the emirate home, which means every resident is a direct connection to dozens of potential visitors around the world. While some countries debate who should be allowed in, Dubai continues to build an environment people want to visit and, increasingly, stay in.

Today’s tourist can become tomorrow’s resident. And today’s resident can become an entrepreneur who sets up a company in Dubai.

It is an almost perfect marketing funnel, one that has been feeding both the economy and capital inflows for years.

It is no coincidence that Dubai has remained the world’s number-one destination for people relocating both their businesses and their lives for two consecutive years.

✉️ For inquiries: DM

🇭🇰 Hong Kong Is Attracting Family Offices with Crypto Tax Incentives

Hong Kong has taken a step the market has been waiting for. In its 2026–27 Budget, the government proposed officially recognizing digital assets, alongside gold and certain commodities, as “qualifying investments” for family office tax concessions.

What does this mean in practice?
For qualifying family-owned investment structures, profits from these assets may be taxed at a preferential 0% rate, subject to the applicable conditions. Previously, the tax treatment of crypto assets for family offices was less clear; this proposal brings greater certainty.

⭐️ Important: the relevant bill was introduced to the legislature on June 24, 2026 and is still under consideration. The proposed concessions are intended to apply from the 2025/26 year of assessment, but the final conditions will depend on the legislation being enacted.

💡 For wealthy families, the key takeaway is clear: Hong Kong is deliberately building a crypto-friendly wealth management regime in Asia. Those who structure early and correctly could gain a significant advantage.

✉️ Private Financial Services experts can help establish and structure a family office in Hong Kong: DM

🇵🇦 Panama lowers beneficial ownership disclosure threshold to 10%!

🚨 This means a broader group of shareholders may now fall within reporting requirements. Banks, brokers, and trust companies in Panama must determine ultimate ownership, tax residency, and linked accounts. Transparency is key!

✉️ Let Private Financial Services experts help you structure your business in the right jurisdiction: DM

🏦 Why Ready-Made Companies Are Usually Sold Without a Bank Account
A common question from clients is: “You’re selling a ready-made company, so why doesn’t it come with a bank account?”

A ready-made company, or shelf company, is an already incorporated legal entity that saves you time on the registration process. But a bank account “included in the package” is the exception rather than the rule. In most cases, ready-made companies are sold without an account. Here’s why.

When a company changes ownership, the bank is required to review the new beneficial owner and carry out KYC checks again. How the bank responds to a change of control depends on its internal policy: some banks update the information and keep the account open, others require a full set of documents to be submitted again, while some may close the account altogether after the transfer. So “inheriting” an existing bank account together with the company is far from guaranteed.

🔔 The bank will typically carry out:
🔵 identification of the new beneficial owner (KYC)
🔵 source of funds verification
🔵 review of the business model and planned transactions
🔵 compliance and AML checks

That is why a bank account is usually opened separately, under the new owner.

It is worth being cautious if an existing bank account is being aggressively promoted as the main selling point of a ready-made company. Sometimes it may be a workable option, but in other cases it can indicate that the checks were handled only formally. And a formal approach tends to surface sooner or later during a bank review.

For all enquiries: pfser.com/en

🇦🇪 New video: crypto business in Dubai — your step-by-step plan for 2026

The UAE has firmly established itself as a global crypto hub: transaction volume topped $56B (+33% year-on-year), and the country was removed from the FATF "grey list," cementing its clean regulatory reputation.
The new video covers the specifics, no fluff:

🔵 how to choose between VARA and ADGM
🔵 what a launch really costs: from share capital to a VARA license ($11–110K+)
🔵 registration timelines and what a crypto license requires
🔵 why professional legal support is critical here
We walk through the whole path — from company to license to bank account.

▶️ Watch:

www.youtube.com

🇸🇨 Seychelles: the classic offshore that still works
Say "offshore" and many people picture Seychelles — and for good reason. It's one of the fastest, most accessible jurisdictions for an international company. But in 2026 the rules got stricter, and that's worth knowing upfront.

What a Seychelles IBC gives you:
0% tax on foreign-sourced income — a territorial system. No capital gains or inheritance tax. Remote registration, no visit needed, in 1–3 business days. Over 24 tax treaties. Privacy: the beneficial-ownership register is confidential, accessible only to compliance officers for due diligence.

What to factor in (2026 reality):
Economic substance requirements mainly apply to companies within multinational groups earning passive income. A pure trading or consulting company usually stays exempt — but even it must file an annual declaration of status. Non-compliance means fines, loss of benefits, and automatic information exchange with your home country.

Best suited for:
International trade, consulting, asset holding, wealth protection.

⚠️ Key point: banks now want to see "substance": a real website, a business plan, genuine activity. Simply "buying a company" is no longer enough. You need the right structure from day one.

📩 We'll register your Seychelles company end to end

❗️ The first MiCA penalty: a signal for the entire EU crypto market

Austria's regulator (FMA) has fined crypto platform Bitpanda €70,000. It's the country's first published final penalty under MiCA — and a key precedent for the whole European Union.
What's telling: the target wasn't an obscure offshore newcomer, but one of Europe's largest and fully licensed players, headquartered in Vienna.

The specifics:
🔵 the white paper was filed late (MiCA requires it at least 20 working days before publication)
🔵 marketing went out before the white paper was published, and without mandatory disclosures and contact details

⭐️ It's important to note: this isn't fraud, and no client funds were lost. Bitpanda's license is unaffected, and so are customer assets. The breaches were purely procedural — "timing and formalities."

Regulation in the EU has shifted from "getting a license" to continuous compliance supervision. It's no longer just market entry under scrutiny, but every white paper, every marketing communication, every filing deadline.
For a crypto business, that means one thing: a license isn't the finish line — it's the start. What follows is a working compliance framework that keeps you from tripping on the "small things" that cost tens of thousands of euros.

📩 We'll build and review your MiCA compliance

🌍 Ready-made companies in 5 jurisdictions are available for transfer
Sometimes waiting for a new incorporation is simply not practical. A ready-made company allows you to move faster towards contracts, counterparties and new market operations.
Available now:
🇵🇦 Panama
🇭🇰 Hong Kong
🇨🇷 Costa Rica
🇵🇱 Poland
🇸🇮 Slovenia
💡Other jurisdictions are also available. Please check with our experts for availability.

For Poland and Slovenia, companies can be selected with or without VAT/VAT-EU registration. Availability and company age are updated regularly.
❗️ Important: a bank account is not included and is opened separately after the company transfer.
✉️ Contact Private Financial Services to find the right option for your business.

🇭🇰 Hong Kong: Foreign dividends aren't always tax-free! 🚨 Since 2023, FSIE regime changed the rules.

To keep them tax-free, you need economic substance in HK or meet the participation requirement. Learn more in the cards.

Let's plan your HK holding to make FSIE work in your favour!
✉️ Free consultation in DM

🇦🇪 Business activity is recovering in Dubai
At the beginning of 2026, business activity across the region declined. The reason was the conflict with Iran: the closure of the Strait of Hormuz disrupted logistics, aviation and tourism, while the UAE business activity index fell to a five-year low in June.
What happened next? Dubai’s economy quickly recovered from the downturn. According to S&P Global, the UAE Purchasing Managers’ Index (PMI) rose to 52.7 in July, its highest level in four months, while Dubai’s PMI increased to 51.7, supported by growth in new orders. The IMF expects a solid recovery in the second half of the year and has highlighted the “significant resilience” of the UAE economy.

Summer is traditionally the low season in the UAE, and it is coming to an end. For businesses, this is an important signal: a UAE company offers clear tax rules, a strong business reputation, and access to capital across the Middle East, Asia and Africa.

Why it makes sense. The standard corporate tax rate in the UAE is 9%. However, Free Zone companies may qualify for the Qualifying Free Zone Person regime: 0% on qualifying income and 9% on other taxable income. In addition, there is 0% personal income tax and profits can be freely repatriated.

Which company structure to choose. For international business, a Free Zone Company is often the most practical option: 100% foreign ownership, no local partner required, and a relatively fast setup process. For companies planning to operate directly in the UAE domestic market, a Mainland Company may be more suitable.

⚠️ Important: a Free Zone license does not automatically guarantee a 0% tax rate. The structure must be set up correctly and the qualifying conditions must be met and substantiated. This is where an experienced partner matters.

✉️ Discuss your Dubai structure with Private Financial Services in DM