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Personal investing is a different thing. He is talking about active trading and it is considered a business activity and taxed in many countries. It can be like that in UAE as well, waiting for law clarification from FTA. Also if you engage in any business in UAE or any foreign country as an...

They can if they conduct business activities including foreign countries.

Financial operations are a completely different topic and subject to different regulations, you need to check with a professional. My comments about CT are about e-commerce, trading or professional services.

Conducting business in UAE means that you have an income from UAE.

I applied for a VAT exception for 2 of my business successfully. Just google "Business Flow Chart" and modify it for your business. It is not rocket science and EMARATAX officers will not review your application in extreme detail. If you still think it is confusing, then you should go with an...

This is against the acceptable usage policy of Wise. They don't want any business related to crypto, period. If you still try to use them, you will come back here and complain about Wise because of the frozen funds/closed account like many people in the forum...

Still no proper explanation and no one knows the meaning of "qualifying income". Unfortunately UAE can't adopt those changes professionally. Expect more problems and lots of confusion in 2023 and 2024.

Majority? How do you know that?

UAE companies can have USD cards with Payoneer. If you have a high monthly spend like $100K+ then you can get 0.5-1% cashback.

Capital doesn't matter in UAE. You even no need to put any capital to incorporate a company. You need to be at least small size company($2-3M turnover annually) with an office, employees and/or assets like real estate and one more thing the card will be tied to AED close to zero benefits. No US...

Yes but still pretty hard and not all banks are ok with this especially banks with good credit cards. To make it clear, if you have a $10K salary in a big company in Dubai, you can get better credit cards than a person who owns a company + $10M net worth. It is stupid but it works like that.

There is no personal tax whether if you live in Dubai or anywhere else. Regarding "Qualifying Income" requirements are still not announced so no one knows right now but several things are clear. 1-) It must be a freezone company. 2-) Revenue should come from a foreign country. 3-) Yearly...

It won't work like that. Banks will not give you credit cards just because you incorporated a company. You also need to use business credit cards which are less attractive than personal credit cards for your marketing expenses otherwise the bank will close your credit card or suspend your...

The salaries are high for skilled jobs in UAE. You can pay a salary 200K AED($55K) per month to yourself as a general manager. The other thing is banks will not issue you a credit card just because of your salary because they check other things like the employee number of your company. They...

It doesn't matter if you decide to use genuine documents after using fake documents with other institutions. They share information behind the scenes and you are most likely flagged. It can be SAR or WorldCheck or a private database record. Once the bank sees you have a problematic history, they...

Metadata information is most basic thing to verify document integrity. They check lots of things like fonts, aligment accuracy, angles, spacing, pixels diffrences you can't see with eye, unusual formatting, etc.. They also started to use AI trained models to increase accuracy. That's why banks...

People think it is a joke and come here to cry to find out why their funds are frozen and the financial institution filed a SAR.

That's why banks use advanced forge detection softwares. Bank employees don't spend time to do examine documents.

Yes pretty good news. Only USD but probably they will introduce other currencies in the future.

Scanned fake documents can still be detected. I'm not saying it is impossible but a small mistake can create huge problems.