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Life in UAE advantages & disadvantages

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I'm not a crypto boy actually 🙂
Have been⁠ in IT for more than 20 years, my experience with crypto started and ended in⁤ 2017 when I lost some money in "disrupting" ICOs, but I followed the technology and⁣ find it really fascinating.

And you are absolutely right - I've been reading this forum⁢ for a while before registering and the number of "Crypto exit strategy" topics is directly︀ correlating with btc/usd rate and the mentality is very similar to people winning the lottery︁ or inheriting an unexpected fortune.
 
How is Monaco more regulated and strict comparing to UAE?

About the︊ due diligence level I agree. Monaco is keen receiving quality residents. You also have to︋ have proof of wealth and proof of funds. Monaco is not for those fake 2︌ day per year residents like in UAE.

"if Monaco don't like how you spend your︍ money or live your life and they fear that you don't control your finances right︎ and you could go bankruptcy" - I don't understand this. No one cares or checks️ how you spend you money. They only check how you earned money.

Monaco residence is‌ very hard to get, but a very valuable residence. It's much more serious location than‍ Dubai. You can rent an apartment in Monaco and have nice Villa in nearby France.⁠ I mean live like a normal person. Weather is perfect there. Not too hot and⁤ not too cold.

For crypto guys with couple hundred thousand euros UAE is the best⁣ option I agree. No due diligence, cheap and easy residence, no requirements of stay. A⁢ perfect place to have tax free pass. But it's not for a person who loves︀ nature and european way of life. It's not a place for life, it's just a︁ tax free pass. 99% residents don't live in UAE. They live in various other country︂ and travel a lot. I know many people who have residence in Dubai - none︃ of them live there.
 
I agree with you 100% .

I didn't express︊ myself clear enough we have 10m+ Crypto Clients counting every single € - that's why︋ I say out of practical experience Monaco won't be the right thing for 99% of︌ the people around here.

That was my main point.
 
And compared to non offshore juridiction for residence, is a‍ Dubai residence making it harder to get Fidor, swissquote etc personnal bank accounts compared to⁠ a european residence ?
 
Yes it will be harder to get bank accounts with UAE⁠ residence. They would require larger deposits etc
Remember if you change your residence from European⁤ to UAE, you can lose accounts at banks and at Fintech like transferwise.
There are⁣ still companies who open accounts for UAE residents, like Bankera
 
It depends.

Like mentioned before moving from Europe to UAE will⁠ lead to the fact that you won't be target anymore by discount EMI's like Revolut,⁤ Bunq or Wise.

Swissquote, Saxo and Interactive Brokers are working in UAE - first both⁣ named even have rep. Offices in the DIFC in Dubai.

Everything you want to achieve⁢ when it comes to EMI or Banking in general you still can achieve but you︀ need to know how and do more gymnastics - that's why you have us. At︁ the end of comfortzone you can find opportunity.

I like the challenge and to not︂ go with the mainstream - especially when it comes to banks, EMI and Brokers.
 
I was curious about what it would take to live in Dubai, as I am‌ quite interested in that option... until I found the following:
https://www.detainedindubai.org/public-decency
Especially this one:
https://www.detainedindubai.org/pos...-jailed-under-cybercrime-laws-that-affect-wha
Criticizing or disagreeing with someone is illegal? Wtf?
How are you guys surviving in that‍ environment? It is a landmine of ridiculous laws. Four poppy seeds from bread is considered⁠ possession of illegal drugs, 4 years in prison? What the royal f**k!

This is like⁤ a real life version of one of those Star Trek episodes (the one where Wesley⁣ breaks some dumb s**t and is sentenced to death)
 
i think that if you keep to yourself and understand what you're getting yourself into,‌ you'll be fine. a guy made a two part video on this if you are‍ interested:









i am personally looking into dubai but i too am not that keen on⁠ it, especially when you consider it's truly a desert city in the heart of middle⁤ east with completely foreign culture.
 
You definitely watched too many Star Trek movies Sir!
This website is like Daily Mail 2⁤ and unfortunately the owner of the company doesn't have the best reputation.

I would not⁣ believe in every story I read about Dubai or UAE. I guess if you go⁢ to any prison anywhere in the world and do some questionnaire among prisoners, you will︀ find that a significant majority of prisoners are not guilty 🙂

Truth is nobody should swear︁ or defame anyone. The difference here is you can make such persons accountable for defaming︂ you.
 
Sorry but quoting from a BVI registered Personal Blog with 100% negative news about Dubai won't⁢ show you the reality how it's to live in Dubai.

That would be the same︀ as posting from a "Querdenker" Personal Blog in Germany and thinking that you live in︁ Germany in a 3rd World Country Dictatorship rightnow. Without any humanrights.
https://foreignpolicy.com/2020/09/23/germanys-lateral-thinkers-unite/
As always people︂ see what they want to see and like every place on this earth Dubai has︃ it good and bad sides.
 
True , some people have superiority complex ,they︀ treat people lower to them badly , bad behaviour should no accept at any cost.︁
Sometime people do no know case in detail and jump to conclusions.
 
Familiarize yourself with Islam, read some interpretation of the Quran, browse through the Arabic language, even⁢ if just superficially it will help you.
Things will start to make sense and you︀ will understand somewhat why the things are as they are there.

I ve been to︁ 9 Muslim countries and studied Islam a little, so it clearly helps to understand.
 
I understand you are⁣ UAE fan and promoter, but the reality is you can get in trouble in UAE⁢ for basically nothing. Law (if such exist) is much different from those in Europe.
For some things you get a slap in Europe , you would be jailed for years︀ in UAE
UAE is good until everything works fine
 
The "basically nothing" for Europe is not a "basically nothing" in Muslim⁣ countries.
Some study about Islam is recommended and it will greatly help understanding why things⁢ are as they are. And of course that region is clearly not for everyone nor︀ should it be.
 
Every country in the world has their own rules and customs, for example Thailand is‌ one of the most liberal countries except for drugs and your opinion on the King.‍
So that would make it as bad as the UAE!!
UAE is a very simple⁠ place to understand, the law is the law, respect everyone and you are accountable for⁤ your actions.
In the west you can say what you want to anyone and its⁣ no big deal, in the UAE you can have an opinion but don't swear and⁢ make derogatory comments to people in public.
Nudity and public displays of affection are prohibited︀ in public.

For example you don't go to someone else's house and behave the way︁ you do at home, what might seem trivial to you is a big thing to︂ them.

Its just common sense!!!!
 
"In the west you can︃ say what you want to anyone and its no big deal, in the UAE you︄ can have an opinion but don't swear and make derogatory comments to people in public."︅

since 2020 you cannot even say what you want in the west without being shamed︆ to be "right wing corona denier bio terrorist n**i" or whatever nice term is en︇ vogue 😉
 
Why people post this type of lifestyle on social media, it always get them into‌ trouble. It always attract wrong people .

What is wrong with live life low-key?? And‍ enjoy life without posting on social media.

Kahlil Gibran
 
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