Best asset Protection strategy/private bank/wealth management for Dubai Resident (Expat)

[troubled soul]

I read on forum that It is safe to do not keep too much money in Dubai bank as It is risky.
I want know , after you reach let's say $25 million plus .
What is the best bank/broker/wealth management service ?

What are the option available in market for Dubai expat to protect money if something bad happen in Dubai ?

I find some and make list here

https://www.home.saxo/https://www.interactivebrokers.com/en/home.phphttps://international.barclays.com/https://www.hsbc.ae/current-accounts/products/jade/https://www.ipb.citibank.com.sg/portal/home_english/citi_home.htmhttps://international.lloydsbank.com/https://www.bgl.lu/en/individuals/my-applications.html#/https://international.standardbank.com/https://group.bnpparibas/en/https://www.ubs.com/ae/en.htmlhttps://www.dbs.com/ae/default.page

 

[Martin Everson]

Damn you listed a lot of nice banks I already use .

You can't go wrong with Barclays and HSBC or pretty much any international bank in Jersey for parking cash. Be careful of Standard Bank right now however.

I would personal not even keep 50k in a bank in the Dictatorship called UAE where protests and political parties are banned.

 

[PhantomOf ThePits]

Hello azb1,

my last post got deleted due to posting links - hence I wont post links.

Basically what I wrote all the banks, brokers are trustworthy and a good option.
However, check also Swissquote in UAE which also offers quite some options.

In addition, there are 'new banks' in Switzerland like SEBA or Sygnum or in the US like Signature/Silvergate which also offer different services.

However, once you deposit money into the bank account, its not your money anymore and became a IOU vs the banks balance sheet.

Therefore what I recommend is to invest in high grade, liquid, short duration bonds as like that it is off the banks balance sheet and your counterparty risk massively reduced.

Also its good to spread the asset in different white listed jurisdictions like Singapore, Switzerland, Jersey etc and avoid offshore banks like Belize, Marshall or such as this will eventually bite back nowadays.

To buy money-market bonds for example you can do in any of the above mentioned banks/brokers and such will stay off balance sheet without having the delta market risk.