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EMI payout to UAE UBO

AtMo

Active Member
Mar 14, 2022
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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.
 
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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.

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.
 
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.
you can also send inside USA by ACH.
 
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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.
You mean less compliance check with SEPA transfers?