EMI payout to UAE UBO

[AtMo]

Hey guys, I'm trying to payout from my UK LLP to the UBO who lives in the UAE.

Does sending payments to the UBO's Xapo account in Gibraltar instead of the UAE banks make sense? I think EU EMIs don't like UAE residents and SEPA is easier for most EMIs.

 

[Martin Everson]

Yes, I would say sending payments by SEPA⁠ makes for an easier life in general when it comes to EU EMI's. With SEPA⁤ most EMI's don't have to be as cautious like when they are sending SWIFT payments.⁣ And this is largely due to compliance requirements of correspondence banks when they make SWIFT⁢ payments.

 

[JackAlabama]

you can also send inside⁤ USA by ACH.

 

[SoNewToAllShit]

yeah check latest threads on OCT about closing⁠ accounts for UAE transfers and UBO

 

[clemens]

You mean less compliance check with SEPA transfers?

 

[Martin Everson]

Yes.

 

[clemens]

Very good to know, I was always believing‌ there is no difference regardless if SEPA or SWIFT.