Crypto-friendly banks in UAE

[sublety22]

Do you mean to open a bank account with Bank⁤ Frick and withdraw to your bank account there before sending the funds to your local⁣ UAE bank or were you referring to that Kraken has a bank account with them⁢ that they can use to transfer funds directly to your UAE account?

In case of︀ the former, would not this cause Bank Frick to exchange CRS details to home citizen︁ country in Europe ?

 

[cuno]

Is the Bank‍ Frick still valid for UAE companies and crypto?

 

[troubled soul]

Dubai give/issue license , It is up to the Bank Frick do accept it‍ or not. I do not think that Bank Frick have any problem to accept to⁠ you since you have solid business plan.

 

[troubled soul]

How to Sell Crypto & Avoid Taxes Legally (Cashing Out)

For small amount $10,000 Nexo->Emirate‌ NBD, works as person claim in this video.

 

[Cryptohodler]

Hello , were you⁣ able to find any local UAE crypto friendly banks

 

[TheCryptoAnt]

This method works

 

[Cryptohodler]

Do local UAE banks have any problems‌ with sending USD from usd currency account to crypto exchanges like binance ? I don't‍ need to cash out of crypto.just need to buy

 

[TheCryptoAnt]

Depends on the bank and the relationship you have⁠ with them.
You can make it work with NBD but they have to approve it.⁤

If you are doing crypto through a FZCO and dont have a lot of capital/dont⁣ get approval,
there're better options to work with than UAE banks.

 

[Cryptohodler]

Please share alternatives to UAE⁤ banks for sending usd to binance etc

 

[TheCryptoAnt]

you just mentioned one I use for USD, Silvergate.
Onboarding is straightforward and⁠ took 2 weeks for me.

Bankera for Euro, ob is a pain tho.
Turkey and⁤ Kazakhstan banks are friendly to FZCO too.

 

[Cryptohodler]

Silvergate onboards free zone companies⁠ ? I didn't know that.
Do they onboard just a company that trades with its⁤ own funds ? My volumes will be around 3 million USD per annum

 

[TheCryptoAnt]

They did when I got the account.⁠ I dont know if the policy has changed.
In my case its company + clients⁤ funds.

Just send them an email

 

[aboveandbeyond]

Turkey and Kazakhstan banks in⁠ UAE, or at their respective countries? do you mind mentioning some?

 

[TheCryptoAnt]

At their respective countries.

https://egov.kz/cms/en/articles/banksSberbank KZ could be‍ useful too.

 

[cuno]

what like to hear from anyone who has a good suggestion to‍ find such a bank! ??

 

[overnbeyond]

as long as you can show trading records‍ or SOF you are good, can't do this under a company though.

 

[Cryptohodler]

This means my company paying‍ me a salary into a personal account and using that to trade. Will most local⁠ uae banks be ok with this setup and allow me to send money to exchanges⁤ like binance or kraken ?

 

[overnbeyond]

thu&¤#
thu&¤#

 

[sargentshallots]

I'm not sure I understand.⁠ Do you mean opening a business account in a Turkish bank in Turkey for a⁤ FZCO in UAE?

Can you please explain? Thank you in advance.