What will happen to my stock holding in Dubai bank (i.e HSBC) if something bad happen in middle east

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azb1

Mentor Group Gold
If I have bank account in Dubai with international bank like HSBC, CITI bank or SC bank. All of them allow USA,UK and Hong kong stock market access.
And I purchase and hold stock of USA, UK or honk kong with them, If something bad happen in Middle east.
What happen to my stock holding ???

Do I lose all my stock??
What will be the worst case scenario???
 

JohnDones

Active Member
If you have a high balance relationship with international banks wouldn't your portfolio be held outside the UAE? Or at least you'd have that option?

Imo the worst scenario that's pretty realistic is that we get new lock downs and your visa gets canceled if you are outside the UAE for 6+ months. Would your international bank get blocked even if it's high balance relationship?
 

calnana

New member
I’ve been mulling getting an hsbc expat (jersey) account. It seems straight forward (famous last words…) if you already have a premier account in the uae.
 

JackAlabama

Entrepreneur
If you have a high balance relationship with international banks wouldn't your portfolio be held outside the UAE? Or at least you'd have that option?

Imo the worst scenario that's pretty realistic is that we get new lock downs and your visa gets canceled if you are outside the UAE for 6+ months. Would your international bank get blocked even if it's high balance relationship?
that did not happen as they will not cancel your visa in such a case.
 

Fred

Dubai Expat
Mentor Group Gold
Elite Member
Commercial Service
Entrepreneur
would they not freeze accounts in the UAE ?
Not immediately.

We see frequently western nationals coming after one year and nothing happens neithe Visa gets cancelled or bank account closed as long as you keep your Company License renewed what's the point for them - UAE is like a big company - damages the profits to bash your "clients" like an EU country would do.

However as high risk nationality I wouldn't try my luck and keep within the mentioned 6 months - general speaking try to make it every 6 months and be within the timeframe.
 

JimBeam

Entrepreneur
Why not just use a proper broker like Interactive Brokers?
It's independent from UAE and probably the fees are way lower?
 

freedomseeker

New member
Can you operate a Interactive brokers account from UAE? I checked their website and while it lists many countries of the world, the UAE is missing for some odd reason....

What gives?
 
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