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Transfer Interactive Brokers Account from Cyprus to Dubai


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Sep 27, 2022
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Hey guys,

lets say you have a CY and a DXB residency. You have a IBKR account, registered with your CY tax ID.

1) Is it possible to just switch from CY to DXB ?
2) Any potential problems with that?
3) Do you need any specific information besides the Emirates ID for the IBKR DXB account?
As Cyprus is in the European Union, account for Cypriot residents belongs to the EU entity of IBKR (probably Ireland or Hungary, rarely Luxembourg).

For residents of non-EU countries, you would be registered with a different entity. Transfer between entities is not possible automatically. So you need to close your old account, transfer positions and open a new account (with another account number).

To activate your new account, you will probably need to provide a proof of address such as postpaid phone invoice or a bank account statement.
I believe with IBKR, if your new account would be under a different entity, you would have to create a new account, transfer your positions, then close the old account.
You will find a lot of information about this if you google or contact IBKR support.