Buying property in Dubai with cryptocurrency

[Mercury]

Thats exactly what I thought..lol. Complaining about 1% fee when price has probably moved 1% in time I have written this.

Again, there is no volatility with stablecoins.

It's all the time the same.

Invested 10k USD in a Coin -> made millions -> don't want to spend any single Dirham to get a reliable setup.

Congratulations to everyboday that became rich over night, really. But get rid off your poor mindset or you will loose your money pretty fast.

I'm not complaining. Just try to minimise fees if possible like everyone else, don't you?

If I cash out 1M I'd rather pay 5k than 10k in transaction fees... but I got your point it seems that for both of you 5k is just insignificant pocket money.

 

[Martin Everson]

Again, there is no volatility with stablecoins.

My point is your clowning yourself complaining about 1% fees to cash out crypto to Fiat .

 

[Mercury]

My point is your clowning yourself complaining about 1% fees to cash out crypto to Fiat .

Sorry but, for me, 1% on 7 figures is not small money.

 

[Fred]

Sorry but, for me, 1% on 7 figures is not small money.

Didn't you made 7 figures with a relative small amount of fiat money?

If so then there is literally no reason to complain about a reliable 1% cash out solution.

Even for you with the 7 figures the 5k is pocket money.

Don't get get your 7 figures money blocked only because you tried to save up 3-5k USD.

The cash out is part of the investment in crypto - if you try to skip here something - the 7 figures maybe never reach you bank account -> the real world.

 

[Mercury]

@Fred Don't get me wrong I clearly understand that nothing's free. I'm just trying to figure out what is the most value for money (meaning reliability and safety at a fair price) solution for me. Why would I pay more for, at the end, the same service/conclusion?

In your eyes, your solution is the best/the most reliable and you may be right.
However, for anyone browsing this forum looking for a cash out solution it may not be so obvious considering people could be thousands miles from Dubai and there is relatively small history/feedback from your business.
Furthermore, the world is wide with many different countries/structures/banking solutions with their own pros/cons and price.

Your UAE Crypto Cash Out solution --- 7k EUR the 1st year + 4k EUR every next years + 1% (minimum) fee on each cash out transaction + round trip to UAE twice a year --- is well noted (please feel free to add any other extra cost/fee I am not aware of).

When the time comes, I will definitely get back to you if I cannot find better deal for the same service/conditions.

 

[CaptK]

Your complaining about 1%, my clients pay 5% to ensure their funds don't get blocked and the structure allows them to sleep at night.

3 member's from this forum have cashed out high 7 figure with me. Paid for the structure roughly €10K and 5% OTC. They are now regular clients and use the services of @Fred, @Gediminas and myself because they don't want the headache.

 

[Mercury]

Thank you @CaptK that's concrete and relevant information.

 

[Mercury]

3 member's from this forum have cashed out high 7 figure with me. Paid for the structure roughly €10K and 5% OTC. They are now regular clients and use the services of @Fred, @Gediminas and myself because they don't want the headache.

@CaptK Just comparing figures @Fred solution looks, on paper, much more cost-effective (structure setup: €7K vs €10K, OTC fees: 1% vs 5% => €43K fees difference for €1M cash out!) than yours for possibly the same service.

I assume you provide some added-value, would you mind sharing it (PM is fine if information is sensitive)?

 

[CyprusLaw]

@CaptK Just comparing figures @Fred solution looks, on paper, much more cost-effective (structure setup: €7K vs €10K, OTC fees: 1% vs 5% => €43K fees difference for €1M cash out!) than yours for possibly the same service.

I assume you provide some added-value, would you mind sharing it (PM is fine if information is sensitive)?

Hi, I know you are talking about Dubai - but would like to offer another solution. There are a few developers in Cyprus that accept direct crypto payments, this way you would not need to pay the 1% for the exchange nor any percentage to real estate brokers.

 

[troubled soul]

Hi, I know you are talking about Dubai - but would like to offer another solution. There are a few developers in Cyprus that accept direct crypto payments, this way you would not need to pay the 1% for the exchange nor any percentage to real estate brokers.

Can you name or provide a website?

 

[Fred]

Guys, just to make it clear - the 1% we mention is for a usual money remittance service - with dashboard and KYC.

Nothing 3rd party or OTC with cash deal etc.

You get your money to your bank account - same like doing withdraw from all major exchanges.

Before this thread tend to be a "I have the better solution cash out solution" one.

General speaking the majority don't want to buy a property or get physical hard cash - that's why we provide a 3rd party money remittance service provider that is around since more then half a decade for the clients that went with us as a freebie.

What we mentioned here is just specific to what @Konstanz asked about and now it's going offtopic.

 

[CaptK]

@CaptK Just comparing figures @Fred solution looks, on paper, much more cost-effective (structure setup: €7K vs €10K, OTC fees: 1% vs 5% => €43K fees difference for €1M cash out!) than yours for possibly the same service.

I assume you provide some added-value, would you mind sharing it (PM is fine if information is sensitive)?

PM me or use the contact details below

 

[Thepopo]

Sorry but, for me, 1% on 7 figures is not small money.

1 % is really small
You really still have your poor mindset (sorry to say it)
You don't focus on the relative number (1%) but on the absolute number (10 000 dollars or so)
If you try to find cheap thing (in absolute terms, so only paying 1 000 dollar or less) you are going to lose your money pretty fast.
Now that you are rich (congratulation btw ) you have to stop seeing the absolute numbers and only relatives.
Because you are still in your 9-5 job mindset where 10 000 $ is a lot, while it's not because you have a 7 figures net worth.

 

[Mercury]

@Thepopo You are certainly right.

I think I'm trying not to forget that $10 K is quite an amount for 99% of people.
From personal experience I know that money comes and goes. Exogenous and unforeseeable events can always happen regardless of your best management decisions.

I don't consider that one is rich with low 7 figures in liquid assets. Once passed $5 M net worth, this is another story

 

[troubled soul]

Guys, just to make it clear - the 1% we mention is for a usual money remittance service - with dashboard and KYC.

Nothing 3rd party or OTC with cash deal etc.

You get your money to your bank account - same like doing withdraw from all major exchanges.

Before this thread tend to be a "I have the better solution cash out solution" one.

General speaking the majority don't want to buy a property or get physical hard cash - that's why we provide a 3rd party money remittance service provider that is around since more then half a decade for the clients that went with us as a freebie.

What we mentioned here is just specific to what @Konstanz asked about and now it's going offtopic.

If you have six or seven Figure Crypto,
Buy Property with it in Dubai and Earn rental income or Sell property after some time.
Why people are not doing this?
Is it a good option?
Or I missing some things?

I think If you are a crypto billionaire, It also works for you??


Can anybody put some light on this?

Al Msaddi was party to a deal that saw an entire building in Dubai being sold for Dh600 million plus entirely using Bitcoins as the medium of exchange.

https://gulfnews.com/business/prope...-trending-with-dubai-property-1.1610708154819

 

[bibing]

Again, there is no volatility with stablecoins.

cries in bitcoin

 

[Thepopo]

@Thepopo You are certainly right.

I think I'm trying not to forget that $10 K is quite an amount for 99% of people.
From personal experience I know that money comes and goes. Exogenous and unforeseeable events can always happen regardless of your best management decisions.

I don't consider that one is rich with low 7 figures in liquid assets. Once passed $5 M net worth, this is another story

I completely understand you. But as you said, money comes and goes but it can also be due to endogenous events, like you using a cheap solution that goes through a shady EMI or shady belizian bank

 

[carz]

If you have six or seven Figure Crypto,
Buy Property with it in Dubai and Earn rental income or Sell property after some time.
Why people are not doing this?
Is it a good option?
Or I missing some things?

I also don't understand why this isn't discussed more. Assuming you don't want to do fancier things with your money that would earn a higher yield, converting your crypto into rental income seems like a safe/less volatile bet.

I would want to move from dubai to an EU country at some point. I thought that rental income is one of the easier types of income to receive in EU banks who are notoriously anti-crypto in some countries. Has anyone tried this? I understand that you need to have everything in order and be ready with whatever documents the bank might ask for, especially if/when you sell.

 

[troubled soul]

I also don't understand why this isn't discussed more. Assuming you don't want to do fancier things with your money that would earn a higher yield, converting your crypto into rental income seems like a safe/less volatile bet.

I would want to move from dubai to an EU country at some point. I thought that rental income is one of the easier types of income to receive in EU banks who are notoriously anti-crypto in some countries. Has anyone tried this? I understand that you need to have everything in order and be ready with whatever documents the bank might ask for, especially if/when you sell.

That's my point.
Any bank in the world will like to receive Rental income. I do not think there will be any problem.

 

[lacomaco]

Hi, I know you are talking about Dubai - but would like to offer another solution. There are a few developers in Cyprus that accept direct crypto payments, this way you would not need to pay the 1% for the exchange nor any percentage to real estate brokers.

Of course they do, their margin covers the conversion charges several times Who is the fool to buy hugely overpriced properties from Cyprus developers (Like Giovani)?