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UAE Freezone asking for screenshot of crypto wallet. Is this normal?
- Thread starter Maxims
- Start date
never heard of. What have you done with crypto to trigger them?
Did you pay an invoice to them or smth?
My source of funds was stated as returns from "digital asset investment" because that is the only business I have. I used an agency. My web portal does not say anything but the agent messaged me. I trust these guys because they have worked with 3 other people I know, but it's still odd to me that this has been asked.
Its very odd.
I dont get it.
So your agent asking you for this now for renewal or is it a new setup? (do you have ifza freezone?)
You could switch agents or DIY with Ifza directly.
Normally you just pay the bill (which is not even 5 digits usd) and off you go with the company (or it used to be).
Then the source of funds bs bingo party starts with the banks.
The process has already started and being done with Meydan Freezone. It's multi corporation setup with a holding company in Meydan and a subsidiary in another country. The subsidiary is what I'll use for trading/investing in the future.
My reply above is the setup I'm going for.
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A lot of people don't understand how crypto works, including people whose jobs really ought to require them to know. Someone asking for a screenshot of a crypto wallet is probably just trying to think of what the closest equivalent to a bank statement is.
This person might know the difference between custodial and non-custodial wallets. If it's a custodial wallet, they might be expecting a screenshot from the custodian website showing your wallet address and name (similar to a bank statement).
You very often can't reason with people like this or explain things to them. Just send them what they ask for. The request is easily fulfilled.
This person might know the difference between custodial and non-custodial wallets. If it's a custodial wallet, they might be expecting a screenshot from the custodian website showing your wallet address and name (similar to a bank statement).
You very often can't reason with people like this or explain things to them. Just send them what they ask for. The request is easily fulfilled.
well then.
asking this is rather nonsense, since it doesnt prove anything which the agent cannot figure out himself (unless you use a crypto bank).
But you can use this one here which creates nice looking pdfs.
https://blockchair.com/bitcoin/tran...5fbcaddb6508e86071a4ad62b3e84e145aedda003.pdf
It is likely that as part of their onboarding process they ought to perform a certain level of KYC/DD on their new client and they probably have to have a basic source of funds evidence so they are asking for I screen shot just to keep in file.
Yes I gave them my screenshots rather than trying to argue or explain because I understand it could be for compliance or even because it might be hard to understand how crypto works.
I was just confused in the beginning when I got the request.
Is it because you somehow plan to move your cryptocurrencies in as company capital for your new firm, or what's the plan with the cryptocurrencies you have?
I don’t even know what the requirements are for company capital in a Freezone or in Dubai?
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