Wise is not the cheapest way for you to exchange currency. The cheapest would be to wire your USD to Interative Brokers and then exchange the USD into AED at the Forex market at the interbank exchange rate and then transfer the AED to your Dubai bank account. Cost 2.25 USD per 20k if I'm not mistaken. I do this every month to exchange Swiss Francs into Euros.
Hey buddy, be aware when you transfer from mercury to Wio business and if you are the owner of both the businesses, it is mandatory to do ESR Notification in the UAE. Many accountants won’t tell you that, do ask for it and file it to avoid any future issues
Thanks for your valuable videos. One question: why don't you use WIO and NBD for share purchases but IABR? Or you could also open a deposit account with all three for diversification?
Hey Toumas! I was curious what the requirements were for you to open your ENBD priority banking account? For me to open a normal account I had to make a fixed deposit of 15k AED and they gave me a skywards signature alongside it, but was curious what the deposit would be to open this?
It is a minimum salary of 50k AED, I pay this amount to my ENBD account every month and I got it, I think there are other ways to get it too, check their website
Another great video! Thanks! I'm in Dubai for a couple of weeks. If you are already here, would be great to meet up and talk business if you are up for it. I'm staying in business bay.
1. Did you set up your US LLC and UAE company as the owner of that LLC with the same GenZone team or used services like Stripe Atlas, Firebase etc? Also, do you have an ITIN? 2. Can I set up a US LLC myself first and later register the UAE company with GenZone, then how will I make this UAE company the owner of that LLC?
1. I set up the US LLC using doola - partnersps.doola.com/pkmiw0zakyp9 I don't have an ITIN 2. Hmm, might be possible, not quite sure, you can ask the team at Doola (or whichever service you would use to set up the LLC), as this would require changing the owner of the LLC
@@tuomaskiv Thanks for the swift response, what will be a better sequence, what did you do? First UAE company and then LLC or vice-versa and later changed the ownership of LLC?
Hi Tuomas, great content. Have you been able with yout US LLC to get Amex US Platinum credit card, which is considered to be the world´s best for travel benefits and airline points?
Insane value again Tuomas, I hope I can realize this advice in the nearby future! Regards from the Netherlands and keep going!
Revolut premium. The end.
Revolut Ultra 🚀🚀🚀🚀
Not available as a UAE resident, they dont support that yet
Wise is not the cheapest way for you to exchange currency. The cheapest would be to wire your USD to Interative Brokers and then exchange the USD into AED at the Forex market at the interbank exchange rate and then transfer the AED to your Dubai bank account. Cost 2.25 USD per 20k if I'm not mistaken. I do this every month to exchange Swiss Francs into Euros.
ahh damn never realized this! But how would you get the USD to Interactive Brokers with no fee?
@@tuomaskiv Sorry, totally forgot that there cost to wiring money in USD. I only deal with Swiss Francs and Euros in the IBAN system, thus no fees
@@jadenwsop5245holy shit u genius
IB is certainly the way to go, but my understanding is that if you do this with very large amounts, or do it too often, they cancel your account.
Thank you for this info, very valuable and hard to find.
Hey buddy, be aware when you transfer from mercury to Wio business and if you are the owner of both the businesses, it is mandatory to do ESR Notification in the UAE. Many accountants won’t tell you that, do ask for it and file it to avoid any future issues
Not necessarily, that depends. In my case no.
@@tuomaskiv you're right, i just checkout out your LLC structure is from the UAE company. Thanks for the update.
Thanks for your valuable videos. One question: why don't you use WIO and NBD for share purchases but IABR? Or you could also open a deposit account with all three for diversification?
thanks for the useful content, keep up the good work!
finally someone talking about the nomadic banking nightmare haha
Hey Toumas! I was curious what the requirements were for you to open your ENBD priority banking account? For me to open a normal account I had to make a fixed deposit of 15k AED and they gave me a skywards signature alongside it, but was curious what the deposit would be to open this?
It is a minimum salary of 50k AED, I pay this amount to my ENBD account every month and I got it, I think there are other ways to get it too, check their website
Pls post more like this
Hey Toumas I was wondering is there a max limit you’re allowed to Send to your ENBD personal bank account from abroad without having any issues?
I am not sure, but from what I have heard you can send very large amounts
@@tuomaskiv thank you 🙏
@@tuomaskiv thank you 🙏
is your personal wise account a UAE one ?
5:30 I guess Wise debit card is suspended in UAE, as they mentioned on the website
Yeah I think it doesn't work actually
@@tuomaskiv Exactly, i was trying for my friend
Personal question.
Have you been able to retire your parents yet?
Understand if u don't want to answer.
did't not get AED100 from used your link.
you need to choose the Plus plan, and spend AED 100 with your card
Do you pay 9% corporate taxes in Dubai? Because you're receiving payments into dubai business bank account.
I made a video on how the tax works - ruclips.net/video/SFCpFjktprc/видео.html
Another great video! Thanks! I'm in Dubai for a couple of weeks. If you are already here, would be great to meet up and talk business if you are up for it. I'm staying in business bay.
1. Did you set up your US LLC and UAE company as the owner of that LLC with the same GenZone team or used services like Stripe Atlas, Firebase etc? Also, do you have an ITIN?
2. Can I set up a US LLC myself first and later register the UAE company with GenZone, then how will I make this UAE company the owner of that LLC?
1. I set up the US LLC using doola - partnersps.doola.com/pkmiw0zakyp9
I don't have an ITIN
2. Hmm, might be possible, not quite sure, you can ask the team at Doola (or whichever service you would use to set up the LLC), as this would require changing the owner of the LLC
@@tuomaskiv Thanks for the swift response, what will be a better sequence, what did you do? First UAE company and then LLC or vice-versa and later changed the ownership of LLC?
Hi Tuomas, great content. Have you been able with yout US LLC to get Amex US Platinum credit card, which is considered to be the world´s best for travel benefits and airline points?
Easier would be first UAE company then LLC
@@tuomaskiv Sounds good,thanks