Recent content by HundHond

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...

People don’t buy financial advice, they buy the membership to follow up what I do. It’s like influencer business, they can freely follow me and I charge for this. If you think the activities are fine it’s good to know

I mainly sell trading ideas as many people find my trades excellent. People message me on Telegram that they want to join my group. I reply to them and they receive a crypto address to make payment, usually Litecoin. After payment, I need a screenshot, and I add them to the group. The group...

I basically run a marketing company with trading activities like blogging services, internet consultancy and marketing services via social media. Do you know if I can sell membership courses such as my Telegram (SOL Free Airdrop) channel? People pay to join this channel in crypto. Can I involve...

Hello My business in Dubai accepting crypto payments recently. Do I need a special license for that?

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...

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...

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?

So basically my first financial year was from October 2022 till 31 December 2023. In this time the corporate tax (9%) was issued on 1st of June. Will I need to pay CT from 1st of June 2023 till December 2024 which is 18 months?

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...

Do I need to pay 9% corporate tax on income that was generated from 01/06/2023? As far as I heard it works for financial year only. So there is no tax before 2024! If let’s say you start your financial year in 2024 you need to pay from 2024 and not before. The law was implemented from 01/06/2023...

Wh What is the worst thing you can imagine is going to happen? I already have 3 other bank accounts and opened at mashreq another one just three weeks ago. What do you think is going to happen in the worst case as I closed the account at ENBD? Let’s say they do SAR report, 99% of times nothing...

Even after closing the account at ENBD? As said never heard back from them after closing the account 7 months ago

Thank you for the answer, the amount I deposited in cash is 2.8 AED, we can say 1m dollar. All within 6 months time frame. Do you think I can or will face any issues in future as I can still use my newly created bank account at ADCB with no problems? My deposists are 8 months ago, and the last...

Appreciate your respone! So just my last question regarding this matter, do you think its normal to deposit 1m in a bank within 6 months and receiving only one question from the bank and never asking back? Is it something that happens regular in dubai? I mean i was obviously tagged in their...