EMI payout to UAE UBO

[AtMo]

Hey guys, I'm trying to payout from my UK LLP to the UBO who lives in the UAE.

Does sending payments to the UBO's Xapo account in Gibraltar instead of the UAE banks make sense? I think EU EMIs don't like UAE residents and SEPA is easier for most EMIs.

 

[Martin Everson]

AtMo said:
Does sending payments to the UBO's Xapo account in Gibraltar instead of the UAE banks make sense? I think EU EMIs don't like UAE residents and SEPA is easier for most EMIs.
Click to expand...

Yes, I would say sending payments by SEPA makes for an easier life in general when it comes to EU EMI's. With SEPA most EMI's don't have to be as cautious like when they are sending SWIFT payments. And this is largely due to compliance requirements of correspondence banks when they make SWIFT payments.

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

 

[JackAlabama]

AtMo said:
Hey guys, I'm trying to payout from my UK LLP to the UBO who lives in the UAE.

Does sending payments to the UBO's Xapo account in Gibraltar instead of the UAE banks make sense? I think EU EMIs don't like UAE residents and SEPA is easier for most EMIs.
Click to expand...

you can also send inside USA by ACH.

 

[SoNewToAllShit]

AtMo said:
Does sending payments to the UBO's Xapo account in Gibraltar instead of the UAE banks make sense? I think EU EMIs don't like UAE residents and SEPA is easier for most EMIs.
Click to expand...

yeah check latest threads on OCT about closing accounts for UAE transfers and UBO

 

[clemens]

Martin Everson said:
Yes, I would say sending payments by SEPA makes for an easier life in general when it comes to EU EMI's. With SEPA most EMI's don't have to be as cautious like when they are sending SWIFT payments. And this is largely due to compliance requirements of correspondence banks when they make SWIFT payments.
Click to expand...

You mean less compliance check with SEPA transfers?

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[Martin Everson]

clemens said:
You mean less compliance check with SEPA transfers?
Click to expand...

Yes.

Last edited: Sep 24, 2024
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[clemens]

Martin Everson said:
Yes.
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Very good to know, I was always believing there is no difference regardless if SEPA or SWIFT.

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity