UAE or Panama for asset protection?

[pim1987]

Hi everyone,

Recently got my emirates ID and wondering if I am better off moving the funds from Panama foundation to UAE company?
Reason is banking in Panama is shitty but not sure how much better UAE is these days?

PS I'm a holder of an EU passport, Panama permanent residency

 

[JohnLocke]

If you mark a thread as POLL then you will have to make a POLL‌ otherwise avoid it please!

 

[Gediminas]

Hey,

This depends on⁤ how much funds are we talking about. Both Panama and UAE have their pros and⁣ cons.

I wouldn't keep 7 figures in any of these jurisdictions, simply because Panama jurisdiction⁢ will bring you troubles (unless you live in this region), and UAE with its Sharia︀ law is a wild card.

If it's less than that, I would prefer UAE, because︁ this jurisdiction isn't blacklisted and their banking environment is pretty stable.

 

[Martin Everson]

Exactly thu&¤#

Keep nothing in those two⁠ places as this is 2021 not 1995. Move assets to Channel Islands. Plenty of solid⁤ banks with stable laws. Keep nothing in UAE other then expense money.

 

[PhantomOf ThePits]

Are there any banks outside UAE you can recommend to bank as a UAE resident‌ without having to show TRCs (for now)?

 

[troubled soul]

https://www.expat.hsbc.com/https://international.barclays.com/https://international.lloydsbank.com/log-on/

 

[Jerry1911]

Can you expand on that?