Recent content by carlosbl

EU countries cooperate and share information for law enforcement and road safety purposes

Thanks for sharing the updates on VARA's pricing structure. Isn't it the height of irony? They're more than happy to charge us in AED for every NOC, license, and tax imaginable. Yet, when it comes to providing a basic service like a bank account, suddenly crypto is the big bad wolf. Amazing how...

According to Cabinet Resolution No. 85, effective 1 March 2023, individuals can be considered tax residents in the UAE if they meet any one of the following conditions: 1. Their principal place of residence and the center of their financial and personal interests are in the UAE. 2. The...

@zaybxc Totally agree with you. A prop trading company is great for teaming up with other investors and traders. For a sole trader, it's overkill, especially now with Dubai's 9% tax on such companies. ‍♂️

By the way, with the recent changes, capital gains are exempt only if they're derived from a participating interest in either foreign or domestic companies. There are also some other situations, like intra-group transfers, reorganizations, and restructuring, where capital gains remain exempt...

You raise an interesting point. However, crypto prop trading companies do have their reasons: Pooling Resources: Prop trading firms can pool resources from multiple investors, traders, and quants, amplifying potential returns and diversifying risks. Professional Expertise: These firms often...

It is www.ifxpayments.com

You are right, but having an income-generating activity but being forced to keep it hidden is problematic. Without 'proof of funds' or 'source of funds', justifying these revenues becomes a major headache. It feels like we're pushed to operate in the shadows, which isn't ideal for legitimate...

So, if the company engages in crypto trading using its own funds, even if it's a small amount, do they necessarily need to register the activity as crypto prop trading? The issue is that trying to onboard such crypto companies with UAE banks is like hitting a brick wall. I don´t know if this...

I think it could significantly reshape global economic dynamics: Their addition might shift global trade routes, potentially boosting intra-BRICS trade. Both countries could channel wealth into BRICS' initiatives, and in turn, attract more investments from BRICS nations. Their financial power...

What happens with an IT company that specializes in software development and besides of that does some trading with its own crypto? What role does VARA play in this scenario?

UAE and Cyprus

Hi Enis, nice to see you here as well

Hello everyone, I'd like to inquire about the possibility of obtaining an Electronic Money Institution (EMI) account for a non-resident US LLC with a director and shareholder who is resident of the UAE and holds European nationality. Could you please provide some options for EMIs that would be...

Theoretically it is the optimal zone. Low cost, great satisfaction, and not just sexual. No one knows for sure if it exists or not. It is said that there are several of these women at the end of the rainbow...