Search results

Thanks a lot for the suggestion/extensive feedback.

Good if it helps for this thread. Nb: derivatives and futures are not meant to have forex/crypto/precious metals as underlying (for those wondering)

I was more referring to the difficulty to transfer money back from UAE to EU than banking in general actually; though good to have your view on it. I'm not sure Cypriot banks are crypto-friendly either to be honest; I find the way you're stating things quite weird. For crypto-friendly EMIS I...

I agree with the financial/tax related part. Still wondering if transferring money back from UAE to Europe is such a big deal when you can prove the source of funds (already the case when you open bank accounts), unless you have points in mind that could possibly be elaborated. I'm not a fan of...

Prop firms I can understand and I'm not refuting the point, but why would brokers want you to loose as this is a trader-to-trader zero sum game with brokers' revenues being based on fees/commissions? Are they market makers too? Which instruments/markets?

Thanks for the info. Might be relevant in some cases indeed. Though I believe we're off topic, better to use another thread.

Because the topic of the thread is not about setting up an offshore company, quite simple. Thanks to csp dubai for the suggestion anyway

Lol.

Not sure about your last point. In my view prop firms process withdrawals with both crypto and bank wire.

Did both. Moved from Cyprus to UAE/Dubai. Main drivers were the dynamism, modernity, bigger city, more inspiring, and more women of my type. I stayed in Cyprus in 2020 too, so being blocked during a year on the island without seeing anybody (incl. friends/family) while working hard had been...

I'd just create an excel table with all your own (weighted) criteria and score them for both options; which might require gathering a lot of information and possibly visit both countries (what I did for both - and is subjective). Taxation/accounting requirements only constitute a single...

I'd like to react to your sentence "Because I can Safely Say that I went through All of them". Are you sure it's about the knowledge or educational contents and not a psychological bias? Many people, whatever the field, feel the need to buy "that new course" hoping it would bring them a magical...

Payset might be another option to analyze.

Thanks for confirming. I agree with it; CRS is another interesting topic to discuss in this forum, e.g. concerning UAE as of this year.

Thanks @ActionMan. For a local business bank account I was also thinking of ADIB (100 AED a month too); your suggestions are interesting to be examined. In this thread my main question is also to know if, through a decree/legal guideline/regulation (federal or a freezone common practice)...

I'd say there's a difference between doing it abroad as an expat or to have an offshore company while still residing in Canada. In the latter case, if operations are managed from your country and without offshore economic substance it's likely to generate an issue with the Canadian tax...

Thanks for your view. Sure, I'm well aware of the new corporate tax. I intend to be fully compliant for it too. I was just wondering if there was a source regarding that bank account flexibility. Considering it might be more difficult* to transfer personal funds from a UAE bank account to...

Hi all, I currently need to open a bank account for my consultancy activity (freelance) in UAE. Does someone know if a freezone establishment absolutely requires a local bank account (UAE) or if an offshore bank account (Europe) can be used compliance wise? Thanks for your views

Hi, is a license of a specific type needed to do prop firm trading (FTMO, etc..., i.e. virtual funds) in UAE, or is it allowed for natural persons?

Thanks for the idea. Have just read more about it. To be confirmed through a ruling perhaps. Aside structuring, practical questions may arise too, e.g. the possible requirement of getting a new copyright each and every time a trading strategy/EA software is adjusted, calibrated or created.