How to Pay Company Owner?

[Addler]

Hello,

It is an offshore UAE company operation on legitimate business. What are the options to pay the director of the company?
Do EMIs allow such transactions i.e. Business to Person, and what are those EMIs? Or else any offshore bank accounts that would allow the same?

Any suggestions would be much appreciated.

Thanks in advance

 

[ernestdezoe]

Why would you do something like this? Just live at the expenses of the company, meaning bill the company for all your expenses

 

[Addler]

Thanks, but that is not possible accounting wise and in all cases. The director needs to be paid a dividend or a salary through an EMI or a bank account in a friendly jurisdiction. Any suggestion would be much appreciated.

 

[ernestdezoe]

1) Accounting? In UAE?? Lol.

2) More friendly than UAE? You'll not find any.

Call your UAE bank, ask them to give you a credit or debit MasterCard or Visa and then spend at will for your personal expenses.

 

[Addler]

Yes accounting in UAE, but the bank isn't.
Debit Cards have tiny limits.
If you know alternatives please sugges otherwise what you are laying out here has already been tried. Thanks

 

[uplana]

Can't you transfer from your current account to any EMI and then to your personal account and file it as salary?

 

[Addler]

Can't you transfer from your current account to any EMI and then to your personal account and file it as salary?

Many thanks for the comment. Sound like an opiton but the company has no EMI account. Can you suggest any?
Also the current bank the company is working with does not allow transfers to EMIs...that also makes things difficult.