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    A friend of mine deposited $750,000 cash (3M AED) into his personal bank account

    Hi, in order to buy a property in Dubai a friend of mine opened a bank account in Dubai at NBD. Within the first 5 months after newly opening the account he made a cash deposit of 500k AED ($135,000) in total and nothing happened. 3 months he made a pause and waited, nothing happened. Then he...
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    Is this bank behaviour normal

    Hello, I expect a $35.000 payment from HongKong to my Freezone company account in Dubai. At the beginning I sent them my AED IBAN account and they transferred the amount as my bank (WIO) said they will automatically convert it into AED. The payment did not get through and went back to the...
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    Do I need special license in UAE to accept crypto payments

    Hello My business in Dubai accepting crypto payments recently. Do I need a special license for that?
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    Report corporate tax and crypto correctly

    I currently have a big problem, namely that my company takes in several million per year in profit. However, we only keep the money in crypto and do not pay it out to banks, how could we even, banks in the UAE are very strict when it comes to crypto. So we are forced to leave the money in...
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    Can someone pay tax on my behalf

    I own a company and we receive millions in USDT or BTC each year. Now with 9% corporate tax I need to pay taxes in UAE but our bank accounts are almost empty as we RARELY use them as they won't accept our crypto payments. So what happens is 99% of our income remains in crypto and I need to pay...
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    Sent wrong currency IBAN by mistake

    Two days ago someone sent me an amount from HongKong to my UAE bank account. I gave the person my AED (UAE Currency) IBAN by mistake instead of my USD IBAN. Any idea what will happen in this case? Will I receive the money in AED and the bank will take charges? Or won't I receive the money at all?
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    UAE 9% corporate tax starts from 2023 or 2024?

    For me things are pretty complicated in UAE, I don't understand wether I need to pay taxes on my Freezone company from 01/06/2023-01/06/2024 or does it start from beginning of 2024 till end of year. Need to mention that I fully qualify to pay taxes due to 3M and 375k rule. According to the...
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    Dubai cash deposit of $1.000,000 in two different bank accounts

    Hello guys. I came to Dubai at the beginning of 2023, so have no bank history here. Iam 24 years old and cashed out 3.5m AED worth of crypto at a local exchange and got the money in cash. To buy a property I deposited a total of 2.9m from March 2023 to August 2023 fully in cash. Daily between...

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