Escaping companies

13 March 2007 By Martin Hutchinson

The oilservice company will move its CEO to Dubai. The company should benefit in customers, tax and politics. Big companies find it easier to move HQs, as hometown roots get shallower. It s a challenge for governments.

This content is for Subscribers only

Context News

Halliburton announced on March 11 that it will open a corporate headquarters office in Dubai, United Arab Emirates. Chairman, President and Chief Executive Dave Lesar will be based there. In 2006, 38% of the company's revenue was derived from the Eastern Hemisphere. The company will remain incorporated in the US.

Dubai has no personal income tax and no corporate income tax for nonoil companies; a tax exemption guaranteed for 15 years can be obtained by locating in the Jebel Ali Free Zone. Among other business, Halliburton Dubai is conducting contract drilling in Iran's Pars gas field.

Email a friend

Please complete the form below.

Required fields *