Whether you have just arrived in the UAE or you have been living in Dubai for a number of years, the chances are that you have used or will need to use a money transfer service – that is unless you brought all of your money over in a suitcase!
Transfer Tip #1 – Avoid High Transfer Fees
If you are transferring money from your UK account to your Dubai account and you are using your UK bank, you could face charges of up to £40 per transaction. And it usually makes no difference if your bank has branches in Dubai – the charge is the charge and that’s it. If you’re making just two transfers per month, you could be racking up a total charges bill of almost £1000 in a year. Read more
A lot of expat clients assume that when living in one European jurisdiction, originally from another, that they can effectively decide on which countries tax they pay on financial instruments such their pension, income and investment gains. This assumption is based on the fact that many European jurisdictions have Double tax treaty’s in place, meaning that individuals do not pay tax in two jurisdictions on the same financial instrument. Although a lot of EU member states follow a OECD format when writing their treaty this is not always the case. It is very important to assess the treaty of the country that you are considering retiring to in order to put the right financial plans in place. This will avoid paying undue tax and also help in deciding which of the many popular European destinations to spend your retirement years in. Read more
One of the wonderful things about living in Dubai is that it’s a cultural melting pot. The UAE provides exposure to new people, traditions and experiences on a daily basis. Although many of our backgrounds are different, it is fair to say that financial advancement was the motivator for many of us as we set out for the Middle East.
One of the dangers is that we start to neglect the investments we’ve left at home, especially our retirement nest eggs. Many expats make the natural assumption that their pension plans are safely locked away until they decide to put their feet up. However, there are some very good reasons to keep a close eye on your pension – especially if you are from the UK. Read more
Everywhere you look you are reminded that Christmas is just around the corner and one day very very soon you will have to start your Christmas shopping especially for the folk back home. But what do you buy your loved ones back in the UK that is easy to send? Here’s a website that may just be the answer…
The Sendatenner website mission is to revive the best present ever, the brightly coloured envelope with a crisp banknote inside! You remember the thrill of receiving cash for a birthday or at Christmas, don’t you? Well then, just imagine your loved one’s delight as they receive your gift on their special day.
The Emirates Identity Card could soon be one of the must-have documents when applying for a loan or to get other bank services and facilities as well.
According to a report in Emarat Al Youm, citing, a UAE Central Bank circular, all banks and finance companies and houses operating in the country are to request the Emiartes ID of a customer applying for banking facilities. Read more