Real estate Dubai - Crypto

[PinkCat]

Ok, so you can buy any property in Dubai with crypto, the whole thing is done via manager checks, there are plenty of middlemen who will take your usdt and issue a check for the seller. Your agent will offer you this on the spot. Some developers accept crypto directly.

When selling it really depends on how long did you hold the property, what kind of relationship you have with your bank, what nationality you hold etc. You can minimise the scrutiny by asking to be paid in multiple smaller checks and deposit them in different banks, smaller amounts rarely trigger checks.

Wiring from UAE also depends on your relationship with the bank, but it is a common problem for many banks in EU, try wiring your own 7 digits from one retail account to another.

On the other hand, getting rental income raises no question whatsoever, so if you are happy to hold for several years and receive your 5-8% annual - Dubai is perfect for you.

You seem to have first hand knowledge, thank you for sharing it!
Few concrete questions
1. What is the common fee % for stablecoin to managers cheque? Is there something we should be careful about, can they scam us? Example, we send the stable coin, they give us the cheque but then it is cancelled and we have no recourse? What is the common rate they give for USD stablecoin to AED, because sometimes they hit you with a bad rate too on top of their fee.
2. From your experience up to what amounts banks generally don't care and don't trigger checks?

Thank you!

 

[manukahoney]

1. What is the common fee % for stablecoin to managers cheque? Is there something we should be careful about, can they scam us? Example, we send the stable coin, they give us the cheque but then it is cancelled and we have no recourse? What is the common rate they give for USD stablecoin to AED, because sometimes they hit you with a bad rate too on top of their fee.

0.7-1% usually, you can try to negotiate as always.
USDT to AED fluctuates, but usually is around 3.66-3.67, so not so very different from the official rate.
Manager's checks are guaranteed by the bank, so there is close to zero risk of not getting paid (unless of course you are being duped by the fake check and fake agent).

From your experience up to what amounts banks generally don't care and don't trigger checks?

Absolutely random. I know someone who deposited 8 digits checks without any problems and I also know a guy whose meagre 50k check triggered the AML check and almost cost him an account closure. Generally speaking the bigger your relationship is with the bank already the more you can deposit without being checked.