UAE is on European Commission blacklist

Konstanz

Mentor Group Lifetime
Jan 17, 2020
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#1
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#3
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#4
Reactions: FantomOffshore, JohnLocke and Gediminas
#5
They also added 2 African countries. Eu is so racist, it is unbelievable.
These lists are highly discriminatory and Ursulaland should not allow this to happen.
 
Reactions: GameBoy and Martin Everson
#6
The problems is that it's very hard to get out this EU commission list. Even harder than FATF.
Will see how it will go for UAE. But I think EU bank correspodents will put even more pressure to UAE banks. So we can expect more stuck payments and hard to work through UAE entities
 
#8
Konstanz said:
Will see how it will go for UAE. But I think EU bank correspodents will put even more pressure to UAE banks.
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Some may just cut correspondence banking relationships as it's not worth the hassle. And lets be honest there is a lot of dirty or untaxed money flowing into UAE anyway...lol.
 
Reactions: Gediminas, troubled soul and Konstanz
#10

That's true and headlines like the below last year don't help sadly.

Dubai and UAE should be blacklisted and face sanctions for sheltering oligarchs and 'dirty money'​

https://www.businessinsider.com/politicians-activists-call-for-dubai-blacklisted-2022-6
 
Reactions: princeofprofits, jafo, bigdaddyleon and 1 other person
#12
Martin Everson said:
Some may just cut correspondence banking relationships as it's not worth the hassle. And lets be honest there is a lot of dirty or untaxed money flowing into UAE anyway...lol.
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The issues will go beyond having more hassle / less choice from EUR correspondent banks. All transactions (bank transfers, real estate, etc.) from UAE to the EU will unfortunately be more scrutinized and seen more suspiciously.
 
#18
Naïve Question : If Dubai resident running swiss/singapoure company from Dubai ....Does he has any problem running the company while living in Dubai ?
This move affect him also??
This only apply to Dubai bank account and its entity (Freezone company) ?
 
#19
Bill D said:
What seriously ? You think all people moving their residency to uae will lose their hsbc, sq, saxo, or have harder time with them?
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All these banks/brokerages have branches in UAE. I guess, they will still be able to serve their clients via their branches under UAE license but not from EU. And you won't be able to move funds between EU and UAE accounts anymore. The question is whether it will still be possible via Swiss or UK accounts or whether the EU will blackmail them as well.
 
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