Search results

@no1d I can share my recommendations but are you looking private bank for self-trading or wealth management?

Do you really think that the publicly listed $13 billion company stole your $20?

Cool story bro

I believe UK LTD(or any company type) and LLP are different for foreign tax perspectives. LLP is a partnership, not a company and you have tax obligations at the personal level. That's why UK LLP + UAE residency works well. I only have a client in the USA and I didn't register for VAT in UAE and...

Yes, the UAE ESR portal is a complete disaster. There are several types of penalties. My friend received a 50.000 AED fine last week because of a Freezone mistake and now trying to fix it. The problem is the scope of relevant activities. A simple software business can easily fall into "IP...

ESR is a problem in UAE and unfortunately people started to receive a very high amount of penalties. The worst part is government ESR portal is not working well and Freezone ESR departments are not capable of understand some cases and this is resulting with fines. If you have a doubt about your...

IB changed its interface. It was not good but now they have the best UI right now(compared with SQ and Saxo). If you compare mobile apps, then SQ is number 1. Attachments CP_Welcome_2x_CP.webp 33.2 KB · Views: 233

IB use custodian banks but even if IB acts custodian, your assets are separated/recoverable in case of IB bankruptcy but ensure that you have a cash account not margin etc.. The most significant risk is insider fraud but it is unlikely because IB is a public company. They're audited more and...

If you buy ETF via IB then it will be held with a custodian bank. It means in case of any problem like bankruptcy, your assets should remain safe. The same applies to brick and mortar banks. For ex: if you buy ETF with UBS, it doesn't mean your assets will hold with UBS. Yes they don't have a...

First of all, it is better to go with GSIB banks. They're too big to fail that's why governments probably protect them in case of any problem: https://www.fsb.org/wp-content/uploads/P111120.pdf UBS is expensive and not worth it especially if you have the knowledge to manage your money. My UBS...

@azb1 Even offshore companies required to apply for VAT registration if their turnover more than 375K AED. Offshore company in UAE(like RAKICC) is trash for doing business. Extremely hard to open a bank account. They're better for other purposes like holding company. VAT Registration or...

MashreqNeoBiz is not an EMI. It is a banking service of Mashreq Bank but specialized for small businesses.

This is not correct. You can check the attached official clarification regarding this. You need to apply for VAT registration if your turnover over 375K AED. It doesn't matter foreign-sourced or GCC-sourced. If your all income is foreign-sourced and applicable %0 VAT then you can apply for a...

Ok, you mean substance of the person not the company for ESR purposes.

What does the substance exactly mean?

I was in Dubai Mall today too. I had to wait 30-40 minutes for Cipriani Dolci(in the middle of fashion avenue) also there was a queue in front of luxury brands like LV, Chanel but do not expect the same crowd in fashion avenue compared with other parts of the mall of course. Second that.

I didn't receive rent to a foreign bank account but open a local bank account and ask your tenant to transfer money locally. You can transfer your local bank account funds foreign bank account easily. This would be the most straightforward and safe way. If you don't want to open a local bank...

I invested in Dubai real estate 2 years ago and so far a minimum of 25% increase which is an excellent appreciation for real estate investment. As long as you know what you're investing in, you will be fine. The biggest problem is if you don't know the developers or areas, the real estate agent...

Monaco is faaaaar more expensive than UAE and bahama/caymans are just small islands...

They are not zero tax countries.