I'm a local, if you guys give me list of questions, I can ask my accountant there and get you all the info you need.
Banks will open you an account without any problems, the only issue is it's not easy for money to leave the country. I'm not sure if you can easily just pay invoices to a foreign...
I'm guessing it's because they convert the EUR to USD to invest it in US treasuries, which is where their 4.1% interest comes from. The card is nothing special, it's metal with a slick design, but no apple/google pay support and no benefits really other than 1 free lounge access every year lol...
The exchange rate is actually always almost exact same as ongoing market rate in forex. So the only problem would be that you are holding USD instead of EUR, which is fine for me. It's hard for them to get USD banking partner because of what happened when Silvergate and other crypto banks went...
Amina Group (was previously called SEBA) is one of the swiss banks u can use. Their banking experience is meh for the fees you pay, but it works. 500k min balance requirement held in whatever asset and i think minimum 1mil net worth required.
https://www.aminagroup.com/
Bruh what is going on in this thread...
@Zikki what's the amount you're trying to cash out, your residency, citizenship, and your salary? Then we can offer a proper solution.
That guy's setup involved making a Digital Marketing company and using it to trade crypto. But yea that video is old and there was no bookkeeping back then and everything less strict etc
You can't open a bank account in UAE with a prop trading company. You have to pay +$1k a month to an offshore bank like SEBA with terrible UX and bad fees.
@khara Anyway, my advice to you is to forget about UAE, or at least research a lot before you do anything, the local banks will not let you open an account and when you do find an offshore bank it will be extremely expensive and/or with high minimum balance (1M or above). It depends on your...
@khara I was able to get a bank account at SEBA (350k min balance and $1.1k fee per month) but I'm ditching the entire thing cuz I have to be a tax resident in a new country for the next 1/2 years (to get citizenship). So I will just pay capital gains tax.
1/2
This is just a suggestion so you can be a legal resident and freely open bank accounts, you don't have to actually study. I believe my friend got 1y Arraigo de formacion residency and is "taking" some 3 weeks course just to get it over with.
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