What EMI for UAE / United Arab Emirates company?

[lory]

Can you explain to me what EMI will work with a UAE company setup by legal agent?

I don't know if Transferwise will accept it, but Leopay don't want it.

 

[NicolasMaduro]

TransferWise will accept you swiftly. They are the easiest EMI to be accepted by, if you just comply with their acceptable use policy. I have never experienced being rejected by them.

 

[life]

Yes transferwise... they launched not long ago in the UAE i read

 

[Martin Everson]

life said:
Yes transferwise... they launched not long ago in the UAE i read
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Your right just noticed 😀:

"TransferWise Nuqud Ltd is regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). "

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[wheelspin]

So it's not a big deal to use them as business account for FZ comp when living in UAE?

 

[ecool]

yes transferwise will accept you but they don't have debit cards available yet in UAE (they say coming soon)

 

[Flibustier]

Now Transferwise is closing all UAE accounts. Sadly UAE put a lot of pressure on Transferwise due to pricing 🙁(

 

[rowena]

Flibustier said:
Sadly UAE put a lot of pressure on Transferwise due to pricing 🙁(
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Yes unfortunately, they are banning good services to rescue local banks.

 

[Fred]

Flibustier said:
Now Transferwise is closing all UAE accounts. Sadly UAE put a lot of pressure on Transferwise due to pricing 🙁(
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I believe it's not only the pricing. I can imagine that the local banks complaint that they were forced from the UAE central bank to close all non-Resident company accounts and TransferWise still could onboard RAK ICC's without issues.

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[Flibustier]

Fred said:
I believe it's not only the pricing. I can imagine that the local banks complaint that they were forced from the UAE central bank to close all non-Resident company accounts and TransferWise still could onboard RAK ICC's without issues.
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It is pricing. Like anything in the UAE. Why Skype and WhatsApp are not working in the UAE? Why iPhones are sold without Facetime? There is a huge degree of protection for many UAE companies at the government level. Besides, Transferwise has to close bank accounts not just for RAK ICC companies, but all (business and personal) customers with the UAE address. To me this is clearly not about non-Resident company accounts.

 

[Flibustier]

Back to the topic, what other EMI are working with the UAE companies?