Sometimes it happens, sometimes it doesn't. Depends on a lot of factors.
Yes.
.
I do not think prices shall grow anymore. They are not growing for 15 years at least. Logic suggests it is better to buy something near sea - 1-2 line. Utility prices - that an issue. Check that in prior if you want to save on that. Really may differ depending on project. IMHO, overpriced in many areas.
nothing. private bank won't as anything like that.
I think you are not taking into account that my question pertains private bank. I never been asked for tax returns. In particular was asked only for - residence visa, utility bill.
If not secret, can you tell where approximately TRC was asked? Is it private bank or some active business account?
from what I see, probably chance is very low. hope I am correctPot luck. But I mean its not as if people use UAE residency permit to avoid taxes where they [cough cough] really live so why should banks ask for one
Not personally. But sounds logical to ask due to UAE reputation and the need for extended due diligence.
I have seen it requested for both. It's often part of account opening or KYC renewal. But as I said, I see request for tax return far more than request for TRC. If a bank is asking for TRC, I'd see it as the bank having suspicion that you aren't genuinely tax resident there.
Do you think there is actually real chance a bank files SAR on base of potential tax avoidance (providing untrue tax residence like UAE or Bahrain and inability to provide TRC upon request) while money source is absolute clean and legal?
Yes, because if you refuse to submit to due diligence, that casts doubt over the cleanliness and legality of your money.
Bahrain isn't currently on any major blacklists or gray lists, so it's better than UAE in that sense. However, it's far less known and less established than UAE, which isn't in its favor. Compliance staff at banks know about UAE (and its shortcomings), whereas they might view Bahrain with suspicion simply for being novel.
Maybe, maybe not. It's impossible to say for sure. Unless they target the GCC region a lot, they probably have many times more UAE residents than Bahrain residents. So Bahrain is still relatively unknown.
>while living somewhere else -
But why don't you keep your money in the UAE?If you are resident in the UAE, which means your visa is valid, and use a UAE bank ( so not a UAE branch of a EU bank ), nobody will ask anything except for the source funds. Then you use Interactive Brokers for trading.
183 days in Bahrain.
Then you're not tax resident and if someone asks you for a TRC, you might not be able to get one.
Doesn't make a difference. Helping tax evaders is no longer the preferred business activity even of private banks.
Why 183? They need 90 days of stay to support gold investor visa and they do not have clear tax residency rules (check PWC).
Well democratic countries tend to follow the rules, and if you tell to a bank that you are a UAE resident, depending on how much money you have, might ask you for a confirmation that you are actually resident in the UAE or report you to the country of your passport. As usual, there are trade offs, as you say UAE banks are bad and UAE is not a democratic country so bad things can happen, but UAE banks will not report you if you have a valid residency visa.
