Kuwait vs Qatar vs Saudi banking what are the pros and cons of each jurisdiction and how do they differ

[Mister Sir]

Kuwait vs Qatar vs Saudi banking what are the pros and cons of each jurisdiction and how do they differ !

 

[daniels27]

All highly restricted and only available for residents. Not worth the discussion here.

 

[Mister Sir]

i proportionally disagree with you daniels "that Kuwait is not worth a discussion"

1) First and foremost what is the strongest currency in the world currently - answer Kuwait Dinar!
2) What does the Kuwait currency fully consist of - answer is undisclosed basket of currencies
3) Which bank got a A plus rating by Fitch - answer- National Bank of Kuwait
4) #$@&? bank in Kuwait "claims" to have a unlimited deposit guarantee...I don't know what to make of this but I'm "scared, curious and fact checking" at the same time .
5)Kuwait Dinar is freely convertible- I was surprised by this
6) A Kuwait bank was mentioned in global finance top 100 Banks in the world...

*You are most likely are correct about the 3 countries banks only being available to residents but I'm curious if there is a workaround, also curious about the pros and cons of these middle east banks compared to let's say the UAE. With some cons being for example like no interest rates and Sharia's law!

 

[daniels27]

All three countries have very strong banks and attractive packages. The currencies are stable and the banking is excellent, often with branches overseas, should you have any need for SEPA transfers to EU IBANs. If you fall into the range of people able to open any of those bank account, please do so. You can check the big banks websites and check yourself all the details. I checked quite a few of them. The story of no interest is a story and there are banks paying very good interest.

If you have an account, please share your experience.

 

[Sols]

Of the three, I've found Qatar to be slightly is more receptive that the other two of non-residents. You'll need connections/contacts, though, and a lot of money. Maybe a lot of money is enough by itself.

 

[Alexmorgan]

You need to be resident to open a bank account in these countries

And specially Saudi Arabia is way mooooooore strict in their regulations with their banking system and they inject AI in very high level more than US or EU banks

I see Bahrain is great its same issue you need residency to open bank accounts but simple to get a residency and same with UAE and Oman

I live in Bahrain and soon will move to Oman

 

[Marshal]

You need to be resident to open a bank account in these countries

And specially Saudi Arabia is way mooooooore strict in their regulations with their banking system and they inject AI in very high level more than US or EU banks

I see Bahrain is great its same issue you need residency to open bank accounts but simple to get a residency and same with UAE and Oman

I live in Bahrain and soon will move to Oman

Why have you decided to move from Bahrain to Oman? Anything specific worth to know, or just your personal preference?

 

[Alexmorgan]

Why have you decided to move from Bahrain to Oman? Anything specific worth to know, or just your personal preference?

Bahrain is great country but the business direction in the region will be shifting to Oman

Im Opening a huge project there

 

[daniels27]

Bahrain is great country but the business direction in the region will be shifting to Oman

Im Opening a huge project there

What is the project about?

 

[csp dubai]

why you will move to oman?

 

[Alexmorgan]

What is the project about?

Its manufacturing project

why you will move to oman?

They have free zone in Oman same as Dubai with 0 taxes of everything

Oman is the new dubai specially Alduqum free zone

 

[daniels27]

Its manufacturing project



They have free zone in Oman same as Dubai with 0 taxes of everything

Oman is the new dubai specially Alduqum free zone

Wow, cool. What are you producing there? Sounds like a good plan!