dubai banking

Hi, in order to buy a property in Dubai a friend of mine opened a bank account in Dubai at NBD. Within the first 5 months after newly opening the account he made a cash deposit of 500k AED ($135,000) in total and nothing happened. 3 months he made a pause and waited, nothing happened. Then he...

Hi, lam from Europe and made very good returns on my crypto investments. I have proof for all of that as lam using regulated exchanges such as Coinbase and Binance. I made like $2m and came here to Dubai with all of my money. I thought it's easy to pay with crypto, however, it's much more...

https://en.newizv.ru/news/2023-04-14/dubai-s-largest-bank-enbd-has-started-blocking-investment-accounts-of-russians-404326 The bank will transfer Russian assets to special accounts, but customers will not be able to withdraw funds. Emirates NBD (ENBD), the second largest bank in the UAE, has...

Let’s say I move to Dubai, create my own LLC with associated bank accounts for the LLC and for myself. Should I get bored of Dubai and leave, can I keep the LLC and the bank accounts? Maybe I have to go back from time to time?

As some of you who live in the UAE already knew, the UAE government launched a federal program that wants to force "private companies" to make sure that at the very least, 2% of their workforce is made up of emirates (will be raised to 10% starting 2025) and companies that fail in doing so, will...

I have recently tried several USD withdrawals from IBKR to UAE bank accounts. All of them were rejected by local banks because it was missing the "necessary regulatory information". For sending payment to the UAE, the regulator requires two extra pieces of information: 1) a residency indicator...

Hello, I have a question and hope anyone can say something to this problem. I get a bank transfer from turkish customer to my dubai company bank account. 2 days after customer transfered the money he get a call from bank that reference bank ask for what this transfer is... He gave them...

Hey Guys, This is a great forum to get a hang of lot of things going around the offshore set up and companies. I am lucky to have come across this one. This is my first post. I am looking for some details on Dubai banking options. Currently some one suggested Emirates Development Bank opens...

Hey, so I've been researching how to cash out crypto with 0% and in my situation it does look like the Dubai is best and cheapest way to do it. So, my understanding is that formatting company and getting resident visa should be hassle free. The challenge starts when living in UAE and trying to...

Hello, Do you know if it is possible to open a bank account in Dubai for non-residents? Which bank could do that? can the account opening be done remotely? -Thank you

Hello, I want to incorporate an entity (IP friendly if possible) to receive royalties from Dubai, Russia, Panama and Barbados. I am not sure which jurisdictions will be more willing to accept funds from these countries ? I have read that Dubai could be flexible but I am not sure if all these...

Hello, I have figured out one step of the puzzle in that I will be setting up my active income business in Cyprus as well as my individual tax residency. However my active business is at higher risk of future litigation, and for that reason, I do not like to hold that much funds in this company...

As complicated as it seems for an outsider, the banking system in the UAE is actually pretty straightforward. Whether you are planning to move to the UAE or you have just become a resident, the necessity of a bank account is obvious. While cash is still in use, most vendors accept card payments...

Hello all, Possibly my problem is not new for this forum and it was asked earlier but due to my low experience in offshore questions i need help. In the beginning of 2019 i opened company in UAE Rakez free zone (FZE) and everything goes well till my first attempt to register the bank account...

I compiled a list of these providers by going through almost any post here on the forum where people ask for bank advise or advise in matters of payment processors EMI's and BTC to FIAT exchanges. For those of you who do not know what an EMI is or what it stands for, here is an explanation...