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Can you use offshore company and bank account in UAE if you are online stock/cryptocurrency trader?

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I have no idea for DUBAI.
But for RAK FREEZONE (FZE/FZC) it's everything based on‌ your license.
If you have a FINANCIAL license you can get payment in cryptocurrency.
If you have any other license (commercial or trading) you can't.
I just asked to their‍ broker.
 
Thanks, I talked to an online company formation service⁤ and they confirmed that cryptocurrency trading business is not supported in RAK. Looks like I'll⁣ have to find another jurisdiction.
 
UK, Switzerland and (Romania) offer good environment for such biz. I self have choosen Switzerland.‌
 
I agree‌ so much with this statement! Why do you want to go to the UAE while‍ they don't allow crypto biz at all! It's a shitty expensive place only for the⁠ rich people of you (if there are any here) and not for cowboys.
 
does UAE has banned cryptocurrency? is it allowed to do business with crypto using UAE‌ corp?
 
They just don't allow any business with crypto. This‍ is a hectic situation in UAE and I don't know why they are doing this⁠ in such good business place like UAE.
 
As I read in the Financial papers the UAE try to rebuild something similar to‌ the blockchain it may be the reason doh948""
 
Do you know if this is going to⁠ change anytime soon? they will loose a lot of business from worldwide this way or⁤ don't you think so?
 
They have their own money, business and they don't need any businessman from world using‌ crypto. This country is crazy rich. I don't think this situation about crypto going to‍ change any soon.
 
I don't mind Switzerland but according to my research about Swiss company⁠ and bank account, it all seemed SUPER expensive.

Can you tell me what kind of⁤ minimum costs can I expect if I go for Switzerland?
 
A Swiss company will cost you 20,000 chf for a Gmbh and 50,000 chf for‌ an AG. If you can't find 20,000 chf to start a Swiss company then Switzerland‍ is not for you. The banks are also pretty expensive and very strict today.
 
Personal funds. Profits from trading are a source of income for me. Personal income. No other‌ people are involved. Just me, my funds and trading platforms. What would you suggest? I‍ need a cheaper jurisdiction. 20000 chf, as the person above mentioned, is too expensive for⁠ me to set up a company in Swiss.
 
I think you can create a company and sell your personal investments that way. The‌ problem would be if you deal with third-party funds.
 
Indeed. Private investments you may do regardless what situation you are in, third party investments and‍ professional investment schemes will most often require a license.
 
Most often you have several accounts for this purpose and use services like transferwise before‌ you send the money to your local bank account.
 
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